Morning Highlights

Our Focus For Today Is On Mid Caps and REITS

STI edged down lower 18.32 points to open at 2787.18

News Updates:

  1. US consumer confidence eases in December to 46.8 from 47.9 in November as reported by Investor’s Business Daily and TechnoMetrica Market Intelligence, indicating consumers’ concern about the economy and labor market.
  2. Stocks endured their steepest daily loss Tuesday since the Dubai debt crisis erupted as comments from credit-rating agencies rekindled worries about the emirate and other sovereign borrowers. Trading volume was light.
  3. Sweden’s Ericsson said on Tuesday it would give notice to 946 staff in Sweden as it looks to pare costs to compete with rivals in a market squeezed by the global downturn.
  4. The emirate’s finance chief said on Tuesday that six months is not enough time to restructure indebted state-controlled conglomerate Dubai World, adding that it had enough assets to meet its obligations.

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 PARM Parkway Holdings 2.96 2.79 3.13
2 FORT Fortune REIT 2.98 2.84 3.12
3 EPIL Epure International 0.70 0.65 0.75 Triggered, Current Price at 0.705
4 IFAR Indofood Agri Resources 2.17 2.07 2.27
5 YAZG Yangzijian Shipbuilding 1.28 1.20 1.36  
6 FCL Frasers Centrepoint 1.34 1.27 1.41 Liquidity Issue
7 AGRN Allgreen Properties 1.21 1.14 1.28 wait for a breakthrough at 1.20, resistance at 1.33
8 MIIF Macquarie International Infrastructure Fund 0.48 0.435 0.525  
9 EZRA Ezra Holdings 2.23 2.14 2.32 Overnight, Current Price at 2.22
(small risk)
10 WTH Wing Tai Holdings 1.79 1.73 1.85 Overnight, Current Price at 1.77
Watch out for resistance at 1.94(small risk)
11 IFAR Indofood Agri Resources 2.14 2.03 2.07 2.25 LOSS – CLOSED at TSL

Stock Prices last updated at 9.08 (Singapore Time)

Here’s Our Mid Term Holding Opportunities:

  1. OLAM – Buy at 2.88, Stop Loss at 2.42

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