Index gapped down after overnight DJ sell-off. We advised cautious trading for active individuals or stay out of the market for the time being. Resistance seen at 3200.
New update :
1) People’s Bank of China lifts deposit rates a quarter of a percentage point : report.
2) Goldman Sachs earns $1.9 billion in third quarter.
3) US housing starts edge upward by 0.3% in September.
4) Dow industrials fall 130 points at open; IBM is top decliner; Apple paces Nasdaq’s slump.
5) Gold declines nearly 3%, trading as low as $1,333, while US dollar strengthens.
6) Financial sector drops as Bank of America reportedly pressured to repurchase mortgages.
7) Yahoo profit rises; revenue misses forecast.
8) Dow drops 165 points to close below 11,000; B. of A., falling 4%, is index’s top decliner.
Quick Picks :
1) City Development enter 13.76 SL 13.06
2) SGX enter 10.28 SL 9.65
Medium Picks :
2) Wilmar enter 6.49 SL 5.87
3) IndoAgri enter 2.70 SL 2.23
