STI up 1.8%: Out of the woods?

The STI closed 1.8% higher and recaptured the 3,000 points support. Whether 3,000 points is now support once more, actually, needs confirmation. It is too early to say that we are out of the woods.

As most of my investments in the stock market are not index linked counters, I am not too bothered by the STI apart from the possible spillover effects it could create.

1. AIMS AMP Capital Industrial Trust: My buy queue at 20c was not filled. I am continuing the buy queue at 20c for next Monday. Although price closed at 20c today, most of the 8,840 lots transacted today were Buy Ups at 20.5c, 6,913 lots to be exact. 20c is a very strong support both technically and fundamentally.

2. Cache Logistics Trust: I am still waiting to buy this at 92.5c. It did touch 92.5c recently but my Buy order was not filled. So, am I going to buy at a higher price? Nope. I will continue to wait at 92.5c since technical weakness is still apparent.

3. CapitaMalls Asia: Closed 1c higher. Technically very weak. See if it captures support at $1.83. The counter closed at $1.77.

4. First REIT: For anyone who is seeking exposure or increasing the weight of his long exposure to this REIT, 72c support has held up and could be a fairly safe entry. However, if 72c breaks, the next support is at 69c. If a possible 3c paper loss is acceptable, why not?

5. Genting SP: Similar to CapitaMalls Asia, this counter must capture its previous support in order to set investors' minds at ease. That would be at $2.00. The counter closed at $1.95.


6. Golden Agriculture: Regained support at 63.5c. This needs confirmation in the next session but it is a shot in the arm for investors. Closing below support recently could just be a whipsaw.

7. Healthway Medical: Closed at 14c which was support. This could now be resistance. Technically and fundamentally weak, I would only go long on this counter for quick trades for now which is what I have done before.



8. Saizen REIT: Buy ups at 16c happening. 15.5c remains a very strong support, technically, and is a fairly safe entry price for any interested investor.

9. ASTI: I increased my long position and I shared this on Twitter yesterday. EPS: 2.6c. NAV: 18c/share. Dividend: 0.7c/share. I bought more at 10c/share. It was my only "update" yesterday in my blog. If you are not following me on Twitter yet, you might want to do so for my short "blogs".

OK, hungry for dinner now after an afternoon nap, recovering from hours on the beach. Have a wonderful weekend! :)

STI climbs 1.8% to 3,025.16 at closing
Friday, 25 February 2011

© 2011 - The Edge Singapore

STI soaked in red and AK71's thoughts.

I slept a full 8 hours last night! I also took a 2 hours nap in the afternoon today! Now, I am feeling drowsy from a very good dinner, a good facial treatment and a good massage. Yawn...

OK, a quick one:

1. CapitaMalls Asia: $1.83 support is gone. I remember saying that if this support goes, the next major support is probably at $1.70. $1.83 could be support turned resistance. Would I sell my loss making investment in the company? Nope. Why? Because I think the selling could be overdone. Look at the weekly chart and you would see a positive divergence between price and the MFI and RSI.

2. AIMS AMP Capital Industrial REIT: My buy order at 20.5c was filled this morning. I am now in the queue at 20c to buy more if the weakness continues. At 20c, the yield would be 10% per annum.

3. Cache Logistics Trust: Putting in a buy order at 92.5c. Nice chance of getting it filled. This is the lowest geared industrial property trust in Singapore right now, if I remember correctly.

4. First REIT: In an earlier blog post, I said there is probably a better time to increase exposure to this REIT and that price could retreat to 72c. It has done just that today. I am tempted to add to my long position at this price for a 9% yield per annum. However, I would not throw in the kitchen sink. Watch 72c which is supported by the 100dMA. If it goes, the 200dMA is at 69c and that is some way to fall.

5. Saizen REIT: 15.5c is where we find the rising 100wMA.  This is a very long term MA and likely to be a very strong support. For anyone waiting to enter or increase exposure to this REIT, this would be a fairly safe entry price.

6. Golden Agriculture: Breaking support provided by the 200dMA at 63.5c is very bearish. It needs confirmation to see if the 200dMA is now support turned resistance. The momentum oscillators are negative and we could see the 100wMA tested as support if this keeps up. Currently, it is at 54c.

I am having a hard time keeping my eyes from closing. So, that's all for tonight. Good night and good luck. :)