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STI to cross 3000 boosted by long-term investors

Farmer
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23-Apr-2008 16:52

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The usual excuses : HSI close up 350pts...CSI 300 up 157pts....Dow future is +ve so far.

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ericsim
Senior

23-Apr-2008 16:51

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another 9mins to go, see wether can break vol. 2 billions (current 1.78b).

no hew to DOW already - full of nonsense - good result down bad result up. look at asia mkt below

Asian Market Indices
Index	Quote	Change	Change%	Time
Nikkei 225	13579.16	31.34	0.23%	04/23
TOPIX	1314.39	2.93	0.22%	04/23
TSE 2nd Sec	2797.16	8.01	0.29%	04/23
JASDAQ	65.89	0.75	1.15%	04/23
Shanghai	3278.33	130.54	4.15%	04/23
Shanghai A	3439.85	136.76	4.14%	04/23
Shanghai B	234.13	12.42	5.60%	04/23
Shenzhen A	1006.50	46.90	4.89%	15:00
Shenzhen B	539.45	18.27	3.51%	15:00
SHSZ 300	3453.73	157.45	4.78%	15:01
Hong Kong	25289.24	350.09	1.40%	04/23
HK CN Ent	13838.22	418.00	3.11%	16:18
HK Aff Crp	5794.50	106.20	1.87%	16:18
Taiwan	9008.49	-28.76	-0.32%	13:46
Taiwan OTC	158.94	0.55	0.35%	13:46
Korea	1800.79	13.30	0.74%	15:02
Vietnam	521.95	-8.67	-1.63%	11:02
Thailand	841.97	-8.05	-0.95%	15:25
Philippines	2824.81	-30.94	-1.08%	12:11
Malaysia	1292.84	13.54	1.06%	16:45
Indonesia	2310.73	21.64	0.94%	15:44
India	16776.42	-7.45	-0.04%	14:15
Bangladesh	3084.78	3.41	0.11%	04/22
Pakistan	11009.45	-62.69	-0.57%	12:25
Australia	5711.40	83.00	1.48%	17:47
New Zealand	3608.47	25.21	0.70%	14:31
Singapore	3200.79	13.56	0.42%	16:30
SGX China	163.19	4.58	2.89%	16:45

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tanglinboy
Elite

23-Apr-2008 16:45

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Haven't been monitoring the whole day.

I am very surprised to see STI cheong today with good volumes! Anyone know why?

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cathylmg
Elite

23-Apr-2008 14:49

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dj -104 but sti up 13. siow liao!

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sarahlkh
Senior

23-Apr-2008 13:04

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breakthrough ... heard resistance level at 3150 - 3300...

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ericsim
Senior

23-Apr-2008 12:22

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wow, good sign vol.>1billion liao...vest with care & good luck

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AK_Francis
Supreme

23-Apr-2008 12:21

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STI up 17 volumn a min ago 1b leow. Good day, tomorrow lagi best if DJ tonight don't fall. PM need to attend SPC AGM, good luck folks. Cheers.

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cyjjerry85
Elite

23-Apr-2008 12:17

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volume indeed surge highly with a breakthrough currently...it seems very positive at the moment...let's hope to see it end the day positively...we are looking at another resistance of the 200MA currently in the region around 3225 level

sarahlkh ( Date: 23-Apr-2008 11:17) Posted:

jerry... stk mkt heard u....already hit 3200

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tl_pang
Member

23-Apr-2008 12:09

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Volume is increasing......Break through STI 3200.......Market cheong now.........That's is best time to buy in now

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sarahlkh
Senior

23-Apr-2008 11:17

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jerry... stk mkt heard u....already hit 3200

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cyjjerry85
Elite

23-Apr-2008 10:41

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very strong volume as of current....and we breaking past 3200 ...this is rather significant if close today well

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cyjjerry85
Elite

23-Apr-2008 09:54

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hmmmm....may not be the case today leh...looking at current situation...this morning volume...first hour of trade (gonna be 10am soon)...the volume compared to the rest of the past weeks not bad le...its standing 0.4billion for only first hour...

DOW go down by 104 points last night doesnt seem to make Asia red...its rather flatly green instead...it will be a wonderful surprise to see STI close above 3200 level

AK_Francis ( Date: 23-Apr-2008 09:43) Posted:

With DJ performance last nite, there is no optimism leh. Seems like All gone for coffee break alrdy.

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AK_Francis
Supreme

23-Apr-2008 09:43

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With DJ performance last nite, there is no optimism leh. Seems like All gone for coffee break alrdy.

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sarahlkh
Senior

23-Apr-2008 09:36

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as market improve, hope more pp go long instead of short...

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cyjjerry85
Elite

23-Apr-2008 08:30

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ozone...we will be approaching May soon ya... Smiley

ok looking at this morning Asia region...looks rather flat...i would have expected some morning selling...but surprisingly saw some greenery! and Nikkei itself is rather flat too now...

ozone2002 ( Date: 23-Apr-2008 08:20) Posted:

what did i tell ya..

ozone2002 ( Date: 22-Apr-2008 08:45) Posted:

oil @ 117... US banks reporting bigger losses.. investors reacting like nothing happened.. geez..

perhaps offloading to go away in May?

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ozone2002
Supreme

23-Apr-2008 08:20

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what did i tell ya..

ozone2002 ( Date: 22-Apr-2008 08:45) Posted:

oil @ 117... US banks reporting bigger losses.. investors reacting like nothing happened.. geez..

perhaps offloading to go away in May?

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cyjjerry85
Elite

23-Apr-2008 07:52

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hmmm...3200 is still of a resistance la...dunno can hit past it like on Monday ...but the crucial point is to close above it...with the DOW dropping 104 points last night...we might still see STI going back to near its 3150 support...DOW at one point last night dropped 170+..but later part of the session climbed back up (however still a 3-digit loss)....it lost 0.82%

if we based on STI reacting to what happen last night...on estimation we give it to go down about 1%...it will still be at 3155 level...above the 3150 support...

well...shall see how the irrational market of today's times goes =)

tl_pang ( Date: 23-Apr-2008 07:43) Posted:

I believe Singapore market will extend the gains today as there's buying interest among the investors. Meaning to say, overall Asean markets are still in uptrend direction this week irregardless the poor performance of DOW J. Let's monitor the market as well today and hope STI index can hit 3200 level today ! Good luck for those vesting and happy trading !

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tl_pang
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23-Apr-2008 07:43

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AK_Francis
Supreme

23-Apr-2008 01:39

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Hmmm tomorrow, now should be now leow. DJ down fr 151 to now 137. Seems like consolidation process at the corner. Your guess of hovering around 3150 is valid, if DJ remains gloomy till market closed, by 0400hrs. No lah, AK will go to bed by latest 0200, as usual. Bro/sis, don't follow uncle AK , as I am a full time retiree leow. Pse take care your health, as you need to works ah!!!

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cyjjerry85
Elite

22-Apr-2008 23:26

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jux to share this article that was published today from Business Times:

Published April 22, 2008

CHART POINT

STI may now test resistance at 3,306

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THE Straits Times Index (STI) broke out of its trading range yesterday. With this, we are now looking at a possible test of the 3,306 resistance. If momentum can be sustained over and above 3,306, STI's negative bias will be invalidated.

Last week, global markets exhibited a peculiar trend. Amid a swathe of negative newsflow from General Electric's results to bank writedowns, equity markets were relatively defensive.

Whether these developments portend a sustained technical recovery or just funds positioning for an opportunistic trade ahead of May and the Euro 2008 season in July, the short-term view is positive.

At this juncture, the STI continues to trade within its downtrend channel. However, the ADX has started to flatten - which suggests that bottoming has occurred at 2,745.

One strategy to ride the upside is to overweight high-beta stocks. Singapore Exchange or SGX could benefit directly from the market momentum. The MACD remains positive, accumulation is evident, and the stock is well supported at $8. Although it is premature to determine if an inverse head-and-shoulder has taken place, a test of resistance at $9 is highly possible.

By KEN TAI CHEE MING,
Technical analyst,
Kelive Research

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