Author: Jay Chia - Your Financial Mentor

Daily Market Opinion for 27-Feb-2015

Daily Market Opinion for 27-Feb-2015 STI failed to continue its bullish momentum yesterday as it started to retrace back to its support level again. STI started its day by opening slightly lower and it faced selling pressure right after its opening. The decline was firm as there was lack of rebound action during the early trading session. A low of 3417 level was reached as market participants continue to exit the market. However, bargain hunters was seen before closing hours where it helped STI to stay above its support at 3420 level. Hence, STI was then able to close...

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Daily Market Opinion for 26-Feb-2015

Daily Market Opinion for 26-Feb-2015 STI managed to stage a rebound yesterday but it seems to be struggling to trade higher. It first opened slightly higher and started to rebound during the early trading session. It reached 3455 level and failed to go beyond that. Selling pressure started to set in and pushed STI back to its opening level. After lunch hours, STI was seen struggling to maintain its opening level and started to trade back to its previous day’s closing. A low of 3437 level was clocked during its attempt. There was no rebound before the closing hour...

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Daily Market Opinion for 25-Feb-2015

Daily Market Opinion for 25-Feb-2015 STI managed to maintain its support level yesterday as the market was positive of the impact of the Budget that was being announced. It first opened slightly higher but it soon faced selling pressure which pushed STI to as low as 3415 level. This was due to the weak opening of HK market. However, market participants were still positive of the market’s strength and decided to enter the market. An intraday rebound was seen and this helped STI to rebound further during the afternoon session. Bullish strength continued to seep into the market which...

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Daily Market Opinion for 24-Feb-2015

Daily Market Opinion for 24-Feb-2015 Singapore government had unveiled its budget for 2016 yesterday and it failed to bring cheer to the market yesterday. STI did opened higher yesterday in anticipation to the bumper budget but it failed to sustain after hitting a high of 3458 level. The selling pressure started when HK market opened and traded lower. This brought sellers into the market and pushed STI lower. There were attempts to trade positively during the day but it failed to sustain. Hence, STI was being pushed to as low as 3421 level where it ended its day. STI...

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Straits Times Index ushering in the year of Goat.

Straits Times Index ushering in the year of Goat. The market had ushered in the Year of Goat last week as it closes for the last 2 days of the week. The Straits Times Index still managed to make gains during the short 2 & half day trading day. It had a bearish start during the week but positive sentiment was seen on Wednesday despite half day worth of trading. With upcoming Singapore budget announcement on Monday, many were speculating many pro business and individuals’ incentives this year. Hence, the week ended positively. Over the long holiday, many market...

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Daily Market Opinion for 18-Feb-2015

Daily Market Opinion for 18-Feb-2015 STI experienced a bearish Tuesday yesterday as market participants feared the outcome of Greek issues. It first opened lower and broke 3420 support level. There were attempts to trade higher during the morning session as it hits a high of 3420 level. However, the bullish attempts failed to become fruitful and hence, selling pressure took control of the rest of the day. A low of 3409 level was clocked but STI did not end up at that level. Instead, it managed to recover back to 3415 level and close at this level. 11.25pts was...

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Daily Market Opinion for 17-Feb-2015

Daily Market Opinion for 17-Feb-2015 It was a shaky start for STI yesterday because of the concerns on PM Lee’s prostate cancer surgery. Apart from this concern, Noble also got a hit by the market as it was being alleged by Iceburg that its way of accounting is not right. Hence, STI had a bearish opening and was forced to hit a low of 3406 level during the morning trading session. However, after the news of the success of PM Lee’s surgery, market participants were being assured and started to enter back into the market. 3420 support level was...

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Retracement risk to usher in Chinese New Year

Retracement risk to usher in Chinese New Year The Straits Times Index had a flat week last week as its attempt to trade higher turns out to be unfruitful. The week started negatively as the market chose to confirm its resistance turn support level at 3420 level. Bullish strength was then gained on the next day which helped STI to reach its high of 3448 level on Wednesday. However, Greek concerns starts to plague the market again as profit takers exited the market quickly; causing STI to return back to 3420 support level again. This support level continues to...

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Daily Market Opinion for 13-Feb-2015

Daily Market Opinion for 13-Feb-2015 Greek woes plagued the market yesterday causing market participants to be quick to take their profits off the market. STI opened slightly down yesterday but it failed to sustain its opening. Selling pressure plagued the whole morning session which brought STI back to 3420 level. The bearishness worsens after lunch hours which caused STI to hit a low of 3409 level. But some short covering helped STI to rebound before market closes. Hence, STI was able to close at 3419.17 level with 25.4pts down. Last night, DJI was seen rebounding with 110.24pts up. Will...

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Daily Market Opinion for 12-Feb-2015

Daily Market Opinion for 12-Feb-2015 STI managed to continue its bullish streak yesterday as it manages to hold above 3420 level yesterday. It first opened with a gap up action but it was quick to face bearish pressure. In the first hour, STI faced volatility. It hit a low of 3431 level but managed to recover back above its opening level. It managed to retain the bullish momentum and hit a high of 3448 level during the early trading hours. However, the trading momentum weakens during the afternoon session due to lack of trading activities. At the closing hour,...

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Daily Market Opinion for 10-Feb-2015

Daily Market Opinion for 10-Feb-2015 STI had a bearish start for the week as participants were wary of the ongoing bearish events around the world. Hence, it failed to continue its bullish movements yesterday. It opened above 3420 level yesterday and attempted to trade bullishly during the early session. However, as it hits the high of 3434 level, sellers started to enter the market; pushing down STI towards its support at 3420 level. This support level was tested repeatedly and a low of 3416 level was achieved. During closing hour, 3420 support continued its attempt to hold but broke...

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Straits Times Index managed to rise within the bearish storm.

Straits Times Index managed to rise within the bearish storm. The Straits Times Index managed to experience a bullish week despite facing negative concerns from various countries last week. The movements clearly show that market participants are still positive on STI’s bullish strength. The week started with a positive note with STI fighting to head towards 3420 resistance level again. But the resistance was felt the next few days as market participants were unable to break this resistance level. There was strong selling pressure last Thursday which many thought that STI will retrace further. However, a positive boost was...

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TRANSIT CONCRETE IN-DEPTH STUDY ON 06 FEB 2015

TRANSIT CONCRETE IN-DEPTH STUDY ON 06 FEB 2015 This in-depth study is done on request by one of Jay Chia’s client. If you are interested in getting such study done, be part of Jay Chia’s group by contacting him. Transit Concrete – Evaluated price $0.525 (23 Jan 2015) Company Background The Company was incorporated in Singapore on 31 August 1979 under the name of Transit-Mixed Concrete Pte Ltd. In 1997, the Company achieved a breakthrough when it was among the few companies to be pre-qualified to supply ready mixed concrete to main contractors for the HDB. In 1990, the Group...

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Daily Market Opinion for 04-Feb-2015

Daily Market Opinion for 04-Feb-2015 STI failed to continue its breakout movement yesterday as it faced profit taking pressure. It is now trading below 3420 resistance level again and hence, the breakout is just a whipsaw action. It opened slightly higher than 3420 level but it failed to sustain at that level. Selling pressure started to enter the market after opening and caused STI to drop much lower during the day. A low of 3401 level was hit before it starts to settles for it closing. STI closed at 3408.02 level with 15.33pts down. Will STI be able to...

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Daily Market Opinion for 03-Feb-2015

Daily Market Opinion for 03-Feb-2015 STI buck regional trend yesterday as STI managed to close slightly higher than 3420 resistance level. Sentiment was positive yesterday as market participants were positive about Singapore’s economic situation as the government made various decisions last week. The day started with a slight gap up action which helped STI to open at 3398 level. There was some selling pressure initially but it only managed to hit a low of 3394 level. Buyers entered the market gradually during the day despite bearishness seen in the regional market. The bullish strength lasted till closing time where...

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