Morning Highlights

Our Focus For Today Is On Palm Oil

We place more emphasis on  Noble and Indofood Agri.

After due consideration, we decided to include Capitaland in the Quick Picks instead of removing it. If the share manages to breakthrough 4.18 and hold there, you may consider to enter the position. Likewise, if it only touches but fails to hold, please do not enter.

Olam had a sudden drop in the first 15mins of trading. It opened at 2.81 and went to a low of 2.71. Currently, the share is trading more stability but likely to start drifting from here.

During an announcement yesterday that more money will be pumped into the economy through the 2010 government budget, Finance Minister Tharman Shanmugaratnam said that the underlying problems have not been resolved and thus confidence has not returned to normal (The Business Times).

Most of the stocks in the commodity sector were still holding strong despite the weak market yesterday. The Reuters/Jefferies Commodity Price Index has been rallying for 6 days and was up 1.3% day-on-day (dod) on Monday’s close.

Corporate Announcements
Genting Singapore’s rights shares will begin trading this morning. The company had announced a 1-5 rights issue on September 9.

News Updates

  • U.S. stocks fell and the dollar rebounded from a 14-month low against the euro as a disappointing report on housing starts overshadowed better-than- estimated earnings at companies from Apple Inc. to Caterpillar Inc. Treasuries gained, while oil dropped from a one-year high.
  • Pulte Homes Inc. and Home Depot Inc. led builders and retailers lower as the Commerce Department report signaled the housing market may slow once tax incentives expire. Coca-Cola Co. lost 1.3% after sales trailed estimates, while Boeing Co. slid 2.9% on Morgan Stanley’s recommendation to sell the shares. Apple and Caterpillar rose at least 3%. (Bloomberg)

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)








1 CATL Capitaland 4.18 4.00 4.36 Please watch out on how share is going to trade.
2 SPRM Singapore Press Holdings 4.00 3.88 4.12 lookout near breakout pt
3 SCMN Sembcorp Marine 3.62 3.38 3.86
4 UEL United Engineer 1.82 1.69 1.95 Resistance at 1.88
5 SIAT Singapore Airport Terminal Services 2.59 2.44 2.74
6 LIAS Lion Asiapac 0.38 0.345 0.415
7 NOBG Noble Group 2.71 2.59 2.83  
8 GPAK Goodpack 1.14 1.06 1.22 Not Entered due to light volume. Will observe further. Resistance seen at 1.21
9 IFAR Indofood Agri Resources 1.82 1.71 1.93
10 5NL Tritech Group 0.31 0.25 0.37  
11 STEG ST Engineering 2.89 2.73 2.82 3.03 Overnight – Current Price at 2.98

Stock Prices last updated at 9:28 (Singapore Time)

Here’s Our Mid Term Holding Opportunities for property shares.

  1. Fraser & Neave – Buy at 4.02, Stop Loss at 3.76
  2. Allgreen Properties – Buy at 1.21, Stop Loss at 1.04
  3. City Development – Buy at 10.50, Stop Loss at 9.55
  4. Wing Tai Holdings – Buy at 1.75, Stop Loss at 1.55
  5. Ezra – Buy at 2.08, Stop Loss at 1.66
  6. Lookout for Keppel Corp