Market update 17 December
Good afternoon all,
It is been awhile since I got the luxury to update my blog in the afternoon due to security reason.
Nonetheless, below are my takes on the market.
We have a FOMC meeting this week. Time flies ...3 months ago we were still worrying abt raising debt ceiling and the concerns of tapering and here we are back again..at the mercy of Mr."Hor Chiu" aka Bernake.
Below are the chart of DJI, pretty much self explanatory. Long term uptrend..both fundamental and technical are very much in tune. As long as the music, the tapering doesn't stop, equities will continue to remain bullish. The million dollar question is "when are they stopping/tapering".
Whatever Bernake is going to say will have a huge impact in the market. For traders, it will be best to stay away from the volatility..unless u are playing some condor spreads etc. But for long term investor, we do see DJI resting at a comfortable level at around 15700. This was the level that DJI broke out from in October and this is the level that I suspect we will see strong demand too.
In our local market, our STI was badly beaten since December started. (Actually since the pennies stocks sell down came..) But, there are a few bargain stocks that some analysts has picked which I agree with for the coming 2014.
First stop : Capitaland
Next : ThBev
We see trend line being respected..
Horizontal support offering some respite in the recent sell down.
It is been awhile since I got the luxury to update my blog in the afternoon due to security reason.
Nonetheless, below are my takes on the market.
We have a FOMC meeting this week. Time flies ...3 months ago we were still worrying abt raising debt ceiling and the concerns of tapering and here we are back again..at the mercy of Mr."Hor Chiu" aka Bernake.
Below are the chart of DJI, pretty much self explanatory. Long term uptrend..both fundamental and technical are very much in tune. As long as the music, the tapering doesn't stop, equities will continue to remain bullish. The million dollar question is "when are they stopping/tapering".
Whatever Bernake is going to say will have a huge impact in the market. For traders, it will be best to stay away from the volatility..unless u are playing some condor spreads etc. But for long term investor, we do see DJI resting at a comfortable level at around 15700. This was the level that DJI broke out from in October and this is the level that I suspect we will see strong demand too.
2nd chart below shows that 3 trading days ago, DJI did respect the 15700 level with a strong bullish candle. While it might be on hindsight, do look out for the volume if index does retrace to this 15700 level again. It ought to be low to indicate the no supply bar. Remeber!
In our local market, our STI was badly beaten since December started. (Actually since the pennies stocks sell down came..) But, there are a few bargain stocks that some analysts has picked which I agree with for the coming 2014.
First stop : Capitaland
Next : ThBev
Spotted and inform of the potential short term reversal last week.
Lastly : OCBC/DBS
I will lump my last 2 stock analysis as one.
If you can't put your money in the Asia/World safest bank? Where should you park your money at? Probably be their shareholders.....
DBS shows a nice upward trend line..
We see trend line being respected..
Horizontal support offering some respite in the recent sell down.
Thanks all for today's update. Please take note that stocks above are not my personal calls but just my market opinion. Please consult your broker/FA.
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