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Suddenly All See RED

August 1. USD/JPY and EUR/JPY continue to see saw with both pairs down again on the back of stock market weakness. The Nikkei has fallen below 17K, trading at 16,956.81 currently. It is down 292.08 points or 1.69% on the day now.

Other Asian bourses are down as well with Shanghai"s SSEC down 35.813 points or 0.8% at 4435.219. Singapore"s Straight Times index is down 67.15 points or 1.89% at 3480.51 and Hong Kong"s Hang Seng is down 309.53 points or 1.34% at 22,875.41. Taipei, Seoul, Kuala Lumpur and other bourses in the region have also seen large falls as have Sydney and Wellington.

USD/JPY is down at session lows at 118.29/34 currently. It sees key support just below at the recent 118.00-10 double bottom. Large stops are eyed on a break below. Some Japanese bidding interest continues to be seen below towards 117.50 but more large stops are seen below this latter level, many from margin players recently more long. EUR/JPY is down to 161.64/69, also the lows of the day. Support here is seen at 161.40, around 161.00 and then at 160.60-65, 160.64 the spike low seen Monday. 

 

I got said hor!...who say I never said?

Even Mr Tony Tan also said that there's dark clouds on horizon, exercise caution and be conservative, aware of risk.... ie: Invest in value and fundamental.

 

hmm...u got say like no say....i say we SHORT those STENG and DELONG alikes...heee...

 

It is confirmed! This is the beginning of the end of the super bull market. Major markets around the world are correcting, major currencies are volatile, oil come very close to all time high....etc.

Dear investors/punters, market corrections are looming...so stay alert and think of your family members and friends, don't sacrifice yourselfs in the market.

Remember, "the optimist sees opportunity in every danger, the pessimist sees danger in every opportunity". Major correction maybe a good chance to bottom fish if you intend to stay long and do your homework promptly. I would recomend value stocks like SPH, Singtel, ST Engg, ComfortDelgo, SMRT...etc which are not only defensive, they pay good dividends.

And......Stay away from penny stocks without much fundamentals!!!

 

if u ask me.. is yesterday dip really a folly action or is it predetermined? look at the macd. yesterday dip happen at just the top of the channel ceiling..

 

hahaha...

See... I've not been wrong in treating you as our "Gu Piao Da JieJie" after all...

Because you are the person many forumers should look up to as the role model for responsible investing/trading...

 

Hi sohguan,

Yeah... the past couple of months' action have been dominated by penny play. I guess this is the result of the sudden influx of people wanting to make quick bucks on the stock market. Pretty risky behaviour, if you ask me. 

 

Yes agreed, tats y in shares some ppl say do not follow the crowd.

Trade at own risk. Safe trading.. Gd luck to all.. 

 

 

actually yesterday, quite a no. of pp panic sell but couldn't sell, that leads to even more panic and cause market frenzy.

 

so I think the moral of the story here is that...people panic sell yesterday when only property and construction sectors were the most affected...it somehow make every everyone selling theirs even if the bad news is not related...the second day traders will then buy back the shares upon realising their folly actions...which explains why most are green today...

 

 

suddenly all turn green !

do you think the market will mantain its bull ? or this rebounce is short lived ?

 

Loaded up 4 more counters into my portfolio today and sold one away.

10 of my 12 counters are in healthy BLACK while only 2 still in RED (BBR @ 0.155 and Teledata @ 0.080 & 0.075).

With good fundamentals in Singapore, things are crawling slowly back to normal i reckon

Good Luck to all

 

Hahaha....all back to normal.My shares have picked up again.

 

more of a knee jerk reaction, now market moving up again...

 

Ooops...!!  Should read:

Wa.... really LUCKY for those holding lots... except for ppty (thank the 70%, poor developers or ppty buyers), rest are moving up, the greater fear of blood letting today can be considered eased. Phew....

 

Wa.... really unlucky for those holding lots... except for ppty (thank the 70%, poor developers or ppty buyers), rest are moving up. The greater fear of blood letting can be considered eased. Phew....

 

bottom line for today....try not to touch Property related counters.

u won't know when it will recover. Stay away from Construction counters to be safe.

Good luck

 

Australia's All Ordinaries open higher and stilll climbing up. Hope this will blow positive sentiments over other exchanges.

 

things should be better today. :D

 

The uncertainty of Fed chairman?s comments is finally over and done with?its back to winning way for the STI today?..