Today, the market started with the correction. We have closed all overnight positions with profit.  

 

We have only one setup for Rotary today (Refer to Quick Pick 5). We are waiting for the correction to be completed before re-entering for more opportunities.

Quick Picks: Here is a quick pick screen that we have designed to pick out potential stocks, both Bullish and Bearish. These are measured with emphasis on larger changes in price and volume.  

Bullish Stocks (Singapore)

 

Symbol

Name

Entry

SL

TSL

TP

Remarks

1

WLIL

Wilmar International Ltd

5.25

5.21

5.29

5.29

Profit – CLOSED at 5.44

2

SIAT

Singapore Airport Terminal Services Ltd

2.23

2.13

 

2.33

Profit – CLOSED at 2.24

3

VENM

Venture Corp Ltd

7.63

7.44

7.53

7.82

Profit – CLOSED at 8.16

4

STEL

Singapore Telecommunications Ltd

3.22

3.12

 

3.32

Profit – CLOSED at 3.28

5

ROTE

Rotary Engineering Ltd

0.785

0.74

 

0.83

 

 

 In Summary,

 

The Market tested 2424.52 but failed to hold. STI close off high with +11.6 points.

 

We expect to see the index drifting around this point in the coming days. During the wait, we advise to either continue trading with small risk or stay on the sidelines till a resume of the uptrend i.e. confirm breakout at 2424.52.

 

Meanwhile, some of the stocks that caught our attention are as following:

1)   Venture: the stock was up strongly for the past 2 days. Today is a pause with low volume traded. It basically touches the high made on 30th September 2008 of 8.30 and came down.

 

2)   City Development: the volume traded for this stock has picked up despite the moving average are not in orderly manner of pointing upwards. Nonetheless, the charts show good interest.

 

3)   Hong Kong Land: This stock had been trading sideways since 25th May 2009 till now. Recent days show activity is building up. The trading range bound is between 3.15 – 3.74. To look for breakout point at 3.74

 

We have attached the STI Charts and Individual Charts for the respective stocks that we are looking. Scroll to the bottom.

Have a pleasant evening!

STI Daily Chart on 16/07/2009

STI VOLUME DATA on 16/07/2009

Venture Corp Daily Chart on 16/07/2009

City Development Daily Chart on 16/07/2009

Hong Kong Land Daily  Chart on 16/07/2009