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Thread: Market update

  1. #1
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    Default Market update

    Oil has broken 200d MA (in TA, a classic divider of bear/bull) at 63.X, now at 65USD. Expect oil to be above 65 for the rest of the year.

    Gold rallied along oil, at 960USD.

    IMHO, such a strong oil/gold rally cannot be random market movement. Guess it is reflecting rising expectation of inflation in the US. If this trend continues, inflation in Singapore could be higher than expected for 2009.

    Dry Baltic Index up for another 9% in last 2 days, it peaked at 10,000 2y ago, now at 3,2XX. Let's see how far can it go.

    After a huge rally in Hong Kong market, Dow is not moving. The only explanation is pure inflow of funds into Hong Kong/China. Expect STI to follow HK futures in the short term, consolidating above 2,283. I am still bullish on HK/China/SG stocks as long as S&P500 holds the 875 support.

  2. #2
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    Quote Originally Posted by jitkiat
    Oil has broken 200d MA (in TA, a classic divider of bear/bull) at 63.X, now at 65USD. Expect oil to be above 65 for the rest of the year.

    Gold rallied along oil, at 960USD.

    IMHO, such a strong oil/gold rally cannot be random market movement. Guess it is reflecting rising expectation of inflation in the US. If this trend continues, inflation in Singapore could be higher than expected for 2009.

    Dry Baltic Index up for another 9% in last 2 days, it peaked at 10,000 2y ago, now at 3,2XX. Let's see how far can it go.

    After a huge rally in Hong Kong market, Dow is not moving. The only explanation is pure inflow of funds into Hong Kong/China. Expect STI to follow HK futures in the short term, consolidating above 2,283. I am still bullish on HK/China/SG stocks as long as S&P500 holds the 875 support.
    just tell us what you buy, then we know you accurate or not...

  3. #3
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    Quote Originally Posted by noblebaby
    just tell us what you buy, then we know you accurate or not...
    When I sell to cut loss or take profit must I inform you too, what if I sell btn 5-5.05pm, not in time to inform you, and next day open 20% down like Genting?

  4. #4
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    Default

    Jitkiat, thanks for the economic update. In your opinion, have we past the bottom of the residential property market in SGP ?
    Cheers

  5. #5
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    Quote Originally Posted by Tumi
    Jitkiat, thanks for the economic update. In your opinion, have we past the bottom of the residential property market in SGP ?
    Cheers
    If you read my technical analysis on PPI from 1960-present, I believe PPI at 140 is the strong support line and the bottom for the next cycle barring another economic crisis.

  6. #6
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    Mr Kiat,

    Thanks for the SHARES, OIL and GOLD updates. However, this is a PROPERTY forum. Why not share something about property.

    Has OA broken any resistance point? How bout HDB prices?

    Maybe if you post your analysis on the correct forum, ppl won't that you are talking nonsense.

    Every night i come to this forum wanting to get some property insights and there you are flooding the threads with your gibberish. Why don't you give some relevant advice like...buy mid tier property or wait 5 months before you buy..some kind of useful PROPERTY info on a PROPERTY forum.

    Its like trying to pimp a prostitute to a gay...you are selling the wrong medicine here...its a PROPERTY forum.

  7. #7
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    i agree. even though i knw that pty movement always trail behind stocks, ppl r mre interestd in pty updates nt stock updates

  8. #8
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    can't agree more .. seems like he's trying to make ppl here kan chiong to quickly commit to their property purchase coz of gold price up? stock up? oil up? and god knows what else is up ..... wonder what's his motive ...

    mr kiat, i hope you realise this is a property forum ... so pls stick to the property theme ...

  9. #9
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    So does calling each other "colourful" names, tearing each other to pieces, cursing each other of wrongful death, paying "respect" to each others' parents and wifey etc makes it more relevant to a property forum?

    I am not jumping to any sides but just adding my worthless opinion here...

  10. #10
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    Quote Originally Posted by Autonomy
    So does calling each other "colourful" names, tearing each other to pieces, cursing each other of wrongful death, paying "respect" to each others' parents and wifey etc makes it more relevant to a property forum?

    I am not jumping to any sides but just adding my worthless opinion here...
    Correct ... that's a fair statement.

  11. #11
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    Why some potential propety buyers will not like all these bullish data which I reported because they are unusual given the existing negative fundamentals, these are actually driving sentiment/confidence in property purchase in Singapore. And it is music to sellers and property developers. My worthless

  12. #12
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    Quote Originally Posted by jitkiat
    Oil has broken 200d MA (in TA, a classic divider of bear/bull) at 63.X, now at 65USD. Expect oil to be above 65 for the rest of the year.

    Gold rallied along oil, at 960USD.

    IMHO, such a strong oil/gold rally cannot be random market movement. Guess it is reflecting rising expectation of inflation in the US. If this trend continues, inflation in Singapore could be higher than expected for 2009.

    Dry Baltic Index up for another 9% in last 2 days, it peaked at 10,000 2y ago, now at 3,2XX. Let's see how far can it go.

    After a huge rally in Hong Kong market, Dow is not moving. The only explanation is pure inflow of funds into Hong Kong/China. Expect STI to follow HK futures in the short term, consolidating above 2,283. I am still bullish on HK/China/SG stocks as long as S&P500 holds the 875 support.
    hi guru, can you advice what is the key resistance level for STI based on your charting? was thinking of offloading my shares after it cheong more than 100% for no apparent reasons. looking forward to your advice

  13. #13
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    Mr Kiat,

    I give you a chance to prove yourself.

    If market now bullish and i better buy before i miss the boat and inflation kicks in...what development in D15 should i go into now? Pls plot some charts and gimmie your guru advice.

  14. #14
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    Oil at 68USD now after breaking the important 200d MA at 63.X USD.

    Massive inflow of funds into Hong Kong which leads the STI to break 2,283 is finally justified today by the report on expansion of China's manufacturing (PMI) in May 2009.

    Dry Baltic Index continues its bull run at 3,494 due to continued commodities demand in China.

    It is important that tonight S&P500 can close well above 925 resistance, then the next target will be 1,000. Expect further upside in Asian market.

    Singapore new homes sales in May is supposed to be better than April due to improving confidence/sentiment as many people shift their cash into more risky assets. It would be interesting to see how the secondary market performs in May.

  15. #15
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    Default China bloodsucking commodities from Australia big time

    Baltic Dry Index is back above 4000, pre-Lehman-crisis level, up 11% yesterday. Looks like China is blood-sucking commodities from Australia:

    To much shock, Australia added a net 27,300 jobs in April. As a result, the unemployment rate dropped to 5.4% from 5.7%. Economists had forecast the figure to actually rise, to 5.9%. Full-time positions grew by an astonishing 49,100 while part-time ones fell by -21,800.


    China may have been a large contribute to the renewed Australian economic strength. Trade data published yesterday revealed that exports to the Asian nation jumped 24% while that of the U.S. slumped 7.8%. China's ambition to continue growing at rates exceeding 5.0% have led it to invest in infrastructure projects that require large sums of commodities. Indeed, Australia saw an increase in aluminum and iron ore sales to foreign countries surge ahead by 24.0% and 7.8%, respectively.

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