Is this the return of the bull market?

On 3 Nov, when I blogged about Macquarie's SiMSCI warrants, a reader, AT, mentioned that "Macquarie runs regular warrant workshops at the SGX, I found the speakers honest and knowledgeable." Seminars are taking place again on 22 and 23 Nov:

Date: 22 Nov 10 (Monday)
Partner: DBS
Location: SGX Auditorium, Level 2, Shenton Way.

Date: 23 Nov 10 (Tuesday)
Partner: Philips Securities
Location: NTUC Auditorium, 1 Marina Boulevard.

Time: 6.30pm to 8.00pm

Light refreshments would be available after each session.

Macquarie's Equity Strategist, Mr. Mark Matthews, will give his view on the market outlook for Singapore and the region in this special presentation. There will also be a short presentation on Singapore warrants.

Admission is FREE. Sign up now as seats are limited.  Register at http://warrants.com.sg/en/home_e.cgi

Related post:
The best way to trade the Singapore Index: SiMSCI warrants.

Advertorial.

Golden Agriculture: Breaking resistance.

CPO hit a 27 month high and this has pushed the prices of CPO counters higher on expectations that they would report better than expected results.  Golden Agriculture is the most levered to CPO prices and could be the biggest beneficiary of higher CPO prices.

On 5 Nov, I mentioned that "On 4 Nov, the following session, this counter traded the whole day at 70c or higher. Closing at 70c seems to have confirmed it as the new support." and that "With improving CPO price now a reality, it seems less risky loading up on CPO counters and that is precisely what market participants have done. Loading up on a pullback would be the prudent thing to do, however."

I still think that loading up on a pullback is more prudent but the rising wedge pattern has failed and price has pushed higher. 70c support is confirmed and should be something to watch out for in case of a pullback in price.

Golden Agriculture will be reporting its results on 11 Nov. If results disappoint, we could see the 70c support tested.  If results are better than expected, we might see its share price go even higher.

Even though a very long white candle formed today to close at the day's high of 78c, it is worth noting that volume was not as high as 13 Oct. The picture of negative divergence between volume and price is still present. Price moved higher today due to a lack of sellers and not an abundance of buyers. It would take a very brave person to load up to go long at this stage.