Very, very tired from a long journey back to Singapore. Need to sleep. Yawn. I have just replied to four comments from readers and I could barely keep my eyes open now. So, this is going to be a very quick look.
STI is up 35 points on respectable volume. I expect the index to continue gaining for a bit more. This is probably a good chance for stale bulls to reduce exposure. I wouldn't be adding to my positions except for those in counters which remain promising (read limited downside and good upside potential).
Golden Agriculture is pushing higher as expected. I have divested some as a hedge, gaining 10% in the process. If you followed my posts on this counter, you would remember that I have a target price of 59c for the upmove this time round. This remains unchanged. MFI has just risen above 50% and is a long way from being overbought.
Healthway Medical confirmed the buy signal we saw on the MACD in the last trading session of the Year of the Ox. You might remember we talked about this in my last post on Healthway Medical as well. Immediate resistance is at 15.5c, the 20dMA. Continuing upmove in price could see the XR high of 18.5c tested once more. Volume needs to expand more meaningfully for any upmove to have a more lasting impact.
Saizen REIT has no movement and I hope to collect more at 15.5c thereabouts. This REIT, I believe, is a sleeping giant.
OK, would like to blog more but need sleep.... zzzz...
FAKE ASSI AK71 IN HWZ.
Featured blog.
1M50 CPF millionaire in 2021!
Ever since the CPFB introduced a colorful pie chart of our CPF savings a few years ago, I would look forward to mine every year like a teena...
"E-book" by AK
Second "e-book".
Another free "e-book".
4th free "e-book".
Financially free and Facebook free!
Subscribe To ASSI
Posts
Comments
Monthly Popular Blog Posts
-
It has been almost a month since my last blog post. I am serious about becoming more laid back and being less active in social media. The ga...
-
For those of you who follow me in my YouTube channel, you would know that something unfortunate happened recently to my father. So, I expect...
-
With DBS, OCBC and UOB doing so well in 3Q 2024, I had to take time off from gaming to produce a series of videos. For those of you who do n...
-
I didn't think there would be another blog post until the new year but I did something just now which would have surprised myself a few ...
-
In recent times, I have found it much easier to talk to myself on YouTube. It is faster than blogging. This explains the greater number of v...
All time ASSI most popular!
-
A reader pointed me to a thread in HWZ Forum which discussed about my CPF savings being more than $800K. He wanted to clarify certain que... -
The plan was to blog about this together with my quarterly passive income report (4Q 2018) but I decided to take some time off from Neverwin...
-
Reader says... AK sifu.. Wah next year MA up to 57200... Excited siah.. Can top up again to get tax relief. Can I ask u if the i...
-
It has been a pretty long break since my last blog. I have also been spending a lot less time engaging readers both in my blog and on Face...
-
I thought of not blogging about my 2Q 2020 passive income till a couple of weeks later because Mod 19 of Neverwinter, Avernus, just went liv...
Bloggy Award
5 comments:
Hi,
ur blog has become a daily read for ur intelligent perspective on the markets.
i was wondering why u would reduce ur exposure at this point in Goldenagri and STI. do u think that there will be another correction soon? or are u just afraid of high volatility? could u expand ur thoughts on that? i ask because it seems to me that after this correction, the entire mkt seems poised for a steady uptick.
Hi CT,
Thank you very much for the compliments and also the very sharp questions. I like them so much that I think I will blog a reply. I have to leave home now and will do this later in the day. Look out for it. :)
Hi, AK71,
I was trying to load Healthway medical at 13.5 cents last week but didn't get it. Price has shot up yesterday due to CNY rally.
Do u think the correction has ended or not? Market still seems to look sideways to me... rather than any clear cut up or down trend.
Well... i would be glad if a correction can still come one more time and maybe give me one more chance to load healthway at 13.5 cents or 14 cents... :P
btw, u hv an interesting blog. Keep up the good work.
Hi, Chan?
What Healthway Medical experienced for the last two weeks or so was a low volume pullback. As price declined, the volume dwindled. Such a price decline usually indicates weak holders being shaken out. When the MFI plunged into oversold territory on 12 Feb and the MACD showed a buy signal, that indicated a possible reversal. That reversal was confirmed yesterday.
However, the reversal took place on rather low volume. Volume has to expand meaningfully for any upmove to be durable. If volume remains thin, any upmove in price is likely to be just a technical rebound from an oversold position. Situation currently lacks clarity.
If you really want to go long here, you might want to hedge in case price does continue to move up. Personally, I am already vested and do not feel the need to increase my position through hedging at 14.5c or 15c.
Thanks for the compliments and come back often. :)
just came across this and i have to agree this has been an excellent site! concise and yet very informative. keep up the good work!
Post a Comment