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…looks like the underlying liquidity of those who missed the rally will keep stocks and markets underpinned
Have been busy doing some “national service” and seeing companies over the last week. Meanwhile the markets have rocketed away and hit the 2440 target of the STI which if you recall was the index target which I derived using the highests target prices for one third of the STI Index stocks of analysts.
I am still waiting for the correction but it seems that the underlying liquidity of investors who did not participate in this rally or who came out early in this rally (i am in this group) will keep shares and markets underpinned for now. The chart on the STI Index below shows that the next major resistance for the STI Index is 2800 while an ex-GIC fund manager told me he was looking at 2500 to 2600. Read more…
- Investment sentiment still remains fragile…..don’t be fooled by the strong rally in stock markets that we saw last week !!
- R Sivanithy’s Divine Comedy
- If the refinancing of EU sovereign debt for Italy, Spain, Greece, Ireland, etc can be done (I am still skeptical)……it could create even bigger problems for the world economy and us in 2012…..
