Have you got this feeling that you've missed out on the stock market? If you've been watching the markets, it seems that no bad news can derail STI from marching upwards these days. Forget about the general economy and the languishing GDP forecast by our government - the stock market has a mind of its own and will move up regardless of the fundamental economic situation. A few signs are worrying: 1. I've noticed that the top volume of SGX are occupied by the likes of small caps, specifically the ultra pennies as I call them. Once again, ultra cheap counters like the 0.005 digiland reaches the top position in volume transaction. Hey, did I have a deja vu that such things had happened before? I remembered fondly the good old days of the 2006/2007 period where such small caps are punted. 2. Some of the counters are climbing up with lesser volume, perhaps reflecting the same way that STI index is climbing up too. Look at ocbc's chart: Did you see the rise in price without the corresponding rise in volume? Volume divergence is the name of the game. Read more...