Straits Times Index   

STI

STI is sleepy today. Looks like IMF no effect!

 

Wall Street strikes back !!!!
Stocks rally after two tough sessions as investors take their lead from comments by Fed official and a drop in the price of crude.
By David Ellis and Alexandra Twin, CNNMoney.com staff writers
September 8 2006: 5:53 PM EDT


NEW YORK (CNNMoney.com) -- Stocks rallied Friday at the end of a choppy week on Wall Street, as investors welcomed falling oil prices and soothing comments from a Federal Reserve official regarding inflation and interest rates.

DOW UP 60.67
NASDAQ UP 10.50
DOW FUTURE UP 32
NASDAQ FUTURE UP 2.75
MY OPINION THAT STI MAY CONTINUE IT BULLISH TO 2550 LEVEL NEXT WEEK

 

No feng shui involved. He just scheduled it before the FOMC meeting. It just luck that the markets crashed after the meeting.



This time he won't be lucky. STI will be influenced by overseas factors. If Wall Street falls, so will STI.

 

I suspect our PM Lee seeked out 'feng shui' masters to schedule the May's GE .... Its so timely that world markets rallied just before the election and down after it! Understand MM Lee seeked out these 'masters' too during his reign.

As for the coming IMF events next week, let's wait and see if I am wrong or right .... :P (*Trade with care ya! Shiok!)

 

Sept typically is a down month for all stocks. thus trade with care. As for temasek, it areadi stated that it will cut down its local investment to 1/3 of its overall portfolio thus it will not buy any more local stocks, however for locally listed but other countries based counters may have a chance.

dun look good thou oil price drop. i dun have much confident it will maintain that way as winter is coming and Iran and middle east wouldnt want the price to drop too much.

i rather earn less and be safer than be sorry. May's correction should be a lesson to remember. I believe most of us wouldnt like to be caught again dun we?

 

Like Wall Street, STI's rally has been narrowly focused and not broad-based. Most small caps are down. Volume has been quite low. This could be a bear trap.



I'm not optimistic about Sep. Trade with caution!

 

Despite today's STI drop of 0.8%, I still keep my faith for a rally this month .... It's just reacting to Dow & Nasdaq's performance last nite. As what Tanglinboy says 'a correction'.

Today's paper on Temasek's profit is quite a timing. As said earlier, I suspect Temasek will come in play to boost local market.

(*Maybe I'm wrong and September may indeed be a down month after all, but my gut instincts strongly say otherwise. Let's wait and see)

 

trading volume today is pretty thin still - 295 million shares. I don't think this is a major sell off... just a correction.

 

  I think it is just a pull back in line with weaker US market last night. Japan and HK are also lower today. I remain optimistic.  

 

Market crash today... why ar?

 

Yes. Its a slow day today. the trading volume is only 220 million now. It could very well end below 500 million today.

 

I guess today will be a slow day after yesterday's bull run. 

 

STI up on strong PMI.



The Purchasing Managers' Index (PMI) rose to 52.3 points in August from 51.0 points in the preceding month on increased new orders and export orders, as well as higher output and inventory levels, the Singapore Institute of Purchasing and Materials Management (SIPMM) said.



A reading above 50 points indicates that the manufacturing sector was in expansion mode, while a number below suggests contraction.



The electronics index stood at 51.9 points for last month, rising 1.8 points from July, "driven by increases in new orders from both domestic and overseas markets."



The SIPMM said the sector also registered higher production output and imports, along with higher stocks of finished goods.



Inventory and input prices in the electronics sector however fell, while employment in the sector continued to contract for the third consecutive month.

 

On the darker side, there's always the big 'O' to turn the market upside down - Osama! Sigh!

Next monday is the 5th anniversary of 9/11. Hope Osama goes on holiday ....

 

Good chiong today to position for Wednesday's trading cos US markets are close for holiday today.

Hope STI can touch 2,600 this month! Its 52-week high is 2,659 on 03rd May before our GE (1st big event).

Next week's IMF & World bank meetings will be the key to propel STI. The market will be 'played' up as good omen for the S'pore economy during these events. Think this is a superstitious kind of thing by some people high up there!? That's why I expect a good rally during this IMF meetings (2nd big event).

And the 20th September Fed meeting will do the last pushing cos a rate pause is much anticipated now. Shiok!

But I will be wary toward end of September ..... Trade with care ya.

 

Investor taking up positions for the expected rally I guess...

 

Looks like I'm wrong! It chiong today! :)

 

STI will probably be flat today!

 

The coming IMF meeting will boost a mini rally in STI .... coupled with end of summer this week in US and Europe. Will be a good first 3 weeks in September till Fed's next meeting on 20th Sept - after which will be 50/50.

 

hey cashiertan,

you're right about the bollinger bands bit... its really tight now. but its tough to tell which direction its going to break.