Morning Highlights

Our Focus For Today Is On Blue Chips

STI opens up at 2769.34 and heading towards testing resistance at 2785.94. Index starts to slip down after 10:30 but still trading within tight range.

U.S. stocks fell, halting a two-week advance, as a worsening outlook for technology company earnings added to concern that the eight-month rally in equities outpaced the prospects for economic growth.

Intel Corp. dropped 2.9%, the steepest retreat in the Dow Jones Industrial Average, as Bank of America Corp said computer-chip supply may overwhelm demand. Dell Inc. tumbled 7.2% after profit decreased by more than half. Stocks also slid as yields on Treasury three-month bills turned negative for the first time since financial markets froze last year. Metals producers rose as gold climbed to a record and the dollar fell. (Bloomberg)

Corporate Announcements
Keppel Corp’s offshore and marine subsidiary Keppel FELS Brasil has secured contracts from Noble Corporation to upgrade and repair two of Noble’s Brazil-based drill ships for US$304mn.

News Updates

  • Hershey Trust calls for $17 billion bid for Cadbury: WSJ
  • Democrats appear to have lined up the 60 votes needed to bring health bill to Senate floor‏
  • Thai 2009 GDP forecast to shrink 3.0%

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 OCBC Overseas Chinese Banking Corp 8.54 8.35 8.73 Triggered – Current Price at 8.60
2 DBSM DBS Group 14.92 14.52 15.32 Triggered – Current Price at 14.98
3 STRL Straits Asia  2.24 2.13   2.35  
4 PSLL PSL Holdings 0.25 0.225 0.295
5 YAZG Yangzijiang Shipbuilding 1.19 1.06 1.49 Triggered – Current Price at 1.18
6 PARM Parkway Holdings 2.72 2.62 2.82
7 SOGF.SI Sino Grandness Food Industry 0.41 0.37 0.395   Triggered – Current Price at 0.43
8 SCIL Sembcorp Industrial 3.65 3.55 3.64 3.75 Overnight – Current Price at 3.76

Stock Prices last updated at 11.48 (Singapore Time)

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

  1. Allgreen Properties – Buy at 1.21, Stop Loss at 1.04
  2. City Development – Buy at 10.50, Stop Loss at 9.55
  3. Wing Tai Holdings – Buy at 1.75, Stop Loss at 1.55
  4. Ezra – Buy at 2.08, Stop Loss at 1.66 

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