Post Reply
1-6 of 6
very heng liao, today market manage to hold (praying the whole day), otherwise there will be more panic selling & force selling. paper loss $100 yesterday but only recovered $40 today, but feeling good.
so many counters are green today! the title of today's movement should be star wars - the empire strikes back.....
DC increased may have chain effect on the overall property sectors, and banks too. also the concern is that will this be the only thing which gov will do to cool the market? especially is like with immediate effect that caught many by surprises.... what if impose captial gain tax or other tougher measures?? i had suffered a huge paper loss yesterday, but i will hold on, overall market sentiment is still ok.
In the market place there is always tips, rumours, herd's instinct, fear. When people run, you also run without knowing the reason why these people are running.Must be careful to see that you don't fall.
Development charges rise from50% to 70%.You don't have to worry too much about this.When developer pay for the land purchage, the DC will be factor in.. It is a matter of buying high and sell higher.The ball is at the property buyer court. It is up to you whether you want to purchase the property or not.
people is just using the reason to sell down. u got to know that market has become so crazy that any stocks with no fundamental can also simply shoot up few folds, companies with some new announcements (not even know if those new project bidded or new investment will yield them any good returns later) will also become strong buy target immediately. didn't you notice there are more and more tips and lobang every where now adays? good for the market to cool down when there is no major sell down across the world, then it will recover sooner. those on contra & margin trading will need to pray hard though.
The announcement of development charge rates revision from the current 50 percent of the appreciation in land value to 70 percent cause some sell down of property stock in the early afternoon.
This selling spread to other counters. Things turn ugly when SGX and Securities Internet trading system server were not able to cope.
Panic selling started when traders were unable to get through to their brokers. Even if they manage to get through, trades were not able to be execute and confirm.
In the history of trading, this may be a laughing stock.... Panic selling due to unknown reasons. When people start selling....Everybody start selling!!!!!!
Stocks are oversold. There will be bargaing hunting when trading starts.
Happy Trading!
Cheers!