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CapitaMalls Asia: Gap closed at $1.325.

Friday, August 26, 2011

The last time I blogged about CapitaMalls Asia was on 15 August. At that time, I detailed the reason for not adding to my long position. That reason was technical in nature and is still valid today.

I did not sell as price went lower, saying I would only sell as price rebounds to test resistance. Downtrends are rivers of hope.

Yesterday, CapitaMalls Asia's share price rose dramatically on extremely heavy volume from an oversold position. Such moves usually have strong momentum which would carry over to the next session. This morning, it did just that and my overnight sell order at $1.325 was filled.


Why $1.325? This is where we find a gap resistance and gaps would usually be filled. Price touched a high of $1.33 and if we look at the chart, this is where we find the immediate downtrend resistance.


If $1.33 should be overcome convincingly, we would almost certainly see the counter's share price going higher. Why? Closing above $1.33 would signal to market participants that the immediate (and steeper) downtrend is broken. Long holders might return and more short sellers would cover their positions. This is a powerful combination that would usually push price higher.

In case the immediate downtrend is broken, we will find the next two gap resistance at $1.395 (approximating the 50dMA) and S$1.55 (approximating the 100dMA). I also expect the next downtrend resistance (which I drew in orange color) to be more formidable.

Related post:
CapitaMalls Asia: Pre-emptive strikes failed.

Money continues to flow into Singapore.

Thursday, August 25, 2011

Singapore continues to attract inflows of money. I have friends from USA and Europe who are parking their money in savings accounts in Singapore although they get only 0.1% interest. Why? The Singapore Dollar has been appreciating against their home currencies and is likely to get stronger.


Singapore also has a AAA rating when it comes to sovereign bonds. This has been attracting much attention. The latest to announce intention to invest in Singapore bonds is Schroder Investment.

Does it stop at bank deposits and bonds? Emphatically, no. Hot money is hungry for productive assets in Singapore. The rising supply of money has kept interest rates low, creating a credit boom. This is a big reason why prices of condominiums, especially those in the luxury segment, have shot through the roof in recent times.

The last I heard, some people with a lot of money have turned their attention to industrial properties in Singapore as yields on residential properties are relatively low at about 4% now. Will industrial properties see their prices pushed up next?

The rising value of the Singapore Dollar and continuing inflow of money into our country has created problems for our industries as well because our exports become less competitive. As it is, our GDP shrank 7.8% in the last quarter.

I believe that the Monetary Authority of Singapore has to limit hot money inflows or cap gains on the Singapore Dollar and soon.

FREE Pepper Chicken McGrill!

Wednesday, August 24, 2011

The new Pepper Chicken McGrill is a sandwich that is made for those with fire in the belly!


It starts with a whole chicken thigh, grilled to perfection. Then, it is dipped in a smoky black pepper sauce and dressed with slivered onions. Put in between a savoury, gourmet sourdough bun and it is the smouldering taste that Singapore deserves!

To make things even more mouth watering, McDonald’s is offering a sizzling deal from 26th till 31st August 2011!

Flash this mobile coupon to redeem a FREE Pepper Chicken McGrill with any à la carte Chicken McGrill sandwich purchase! (Terms and conditions apply and while stocks last!)

Download the coupon: HERE.

Spread the word, and grab yours today!


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