Something only Singaporean males know.

The uniform looks different. The helmet looks lighter.

SCS is new. It was SAFINCOS during my time. Yes, a mouthful.

ORD is new. It was ROD to me.

However, the scenes are familiar except for the SOC (standard obstable course). Looks like it is more fun. OK, I better not say anything else in case someone issues me a challenge to try it.



Maybe, I should go catch the movie.

Related post:
AK71 gets recognition from the government!

Can Singapore really house 6.9m people?

I have been careful not to blog about politics but I just need to get this off my chest.

Let me say first that I am neither pro PAP nor WP nor any political party. I will vote for anyone who will do the job right. Although the PAP has a good pedigree, in the last few years, its performance has been wanting and the people spoke with their votes in the last GE.

I feel that 6.9m people would make Singapore really crowded and I don't like crowds for many reasons.

I find driving in Singapore really stressful in the last few years. It used to be a breeze driving here just ten years ago or even just five years ago. I used to tell people that staying in the west and working in the east was better because the jams on the roads were always in the other direction as most people were staying in the east and working in the west. Not anymore. Now, it is jammed in both directions!

So, on some days, I would try to take the MRT instead. Oh, the nightmare! Even our newest Circle Line has problems. I was personally affected by breakdowns twice in the last 6 months and for a person who rarely takes the MRT, I am either very unlucky or the system has some serious issues.

Well, they are doing road and expressway widening on top of buildng new roads and a new expressway. All these should help to make traffic conditions better at least in the near future.

Also, they seem to be spending a lot of time and money on improving the reliability of the MRT system but it is going to take a year or two apparently to complete the upgrades and repairs! Till then, expect more breakdowns.

Overcrowding aside, what I am really concerned about is the cost of living in Singapore.

A friend's dad who is in the real estate development business told him the day Singapore has 6.9m people, everything will become very expensive just like in Tokyo. I shudder at the thought.

The PAP government should not squander away the chance that it has been given to set things right or it could see its majority shrinking again in the next GE. Could we then see a situation in Singapore like what we see in Malaysia now?

Till the next GE, let us see if the PAP government does better. In the meantime, we should do what we can to safeguard our own financial health.

DJIA's above 14,000! What to do?

The Dow Jones ended above 14,000 points for the first time in more than 5 years! Could it go higher? Are retail investors coming back in a big way?

"I would say in the 30 years I've been watching it, this is the least amount of retail interest waiting for a pullback, or waiting to jump in that I've ever seen," said Scott Wren, senior equity strategist at Wells Fargo Advisors, which focuses on retail investors. "Probably and unfortunately for a lot, it's going to be a lot higher before they get in."

Wren said the move to 14,000 is at most psychological and won't be that important to disenfranchised investors. "When you run into people at parties, unless they're in the business ... the stock market isn't even a point of discussion. There's very little conversation. There's very little excitement about the market," he said. "It feels to me like there's a little bit of chasing going on, but not very much at all. I don't expect it any time soon."

Source: Yahoo! Finance.



We are but frogs in wells. We see what we believe to be real.

As long as there are still investors out there who are sceptical of the stock market, who are heavy in bonds and cash for their perceived safety, there is room for stocks to go even higher. When everyone is bullish on stocks, when there is no one left who would stay away from the stock market, then, the fuel is spent.

So, pick out a few good stocks which are still undervalued and hold on to them. However, this does not mean that we should avoid trading for some short term gains in the meantime. After all, share prices climb a wall of worries in an uptrend and do not go up in a straight line.

Related post:
1. Noises, voices and choices.
2. Be comfortable with being invested.
3. Tea with AK71: A frog in a well.

Marco Polo Marine: Negative divergences.

Although the fundamentals of Marco Polo Marine are sound and its future looks bright, Mr. Market is not known to respect fundamentals. Mr. Market is a creature of sentiments.

Technical analysis provides a window into the collective psyche of market participants and when there are negative divergences aplenty, we should exercise caution when thinking of initiating a long position or adding to a long position.

The presence of negative divergences does not mean that the share price will definitely weaken. It does not mean that the share price will not go higher. It just means that the risk of a retracement is now higher.

So, how do we respond to something like this?

Personally, I have not divested any of my shares of Marco Polo Marine. I am that confident of the company's prospects. In fact, if there should be a pullback to supports, I am likely to add to my long position.

So, is buying on pullbacks at supports a sure win strategy? Not at all. Supports could break and price could go lower! If that disturbs you, you might want to hold on to your money. However, if price should rebound and go higher, would you kick yourself if you had held on to your money?

If the fundamentals are sound, lower prices would present greater value. Why wouldn't we buy? The trick is in buying at supports and pacing ourselves as we do so. Don't throw in everything including the kitchen sink at the first support on retracement.

Some would say to wait for clearer signs of an upturn before adding to long positions. That, I feel, would work better in a downtrend. In an uptrend, buying at supports on pullbacks is what I would do. Go back one blog post and you would know what I mean.

Finally, just to add the confusion, technical analysis shows where the supports and resistance are but there is no guarantee that these would be tested at all. This is where hedging comes in. Something to think about over the weekend, perhaps?

Related post:
Marco Polo Marine: Looking into the future.

CapitaMalls Asia: New 12 month high in the making.

The share price of CapitaMalls Asia has been rising and with strong momentum too. Amidst bullish calls by research houses, I would not be surprised if its share price were to go even higher.

Citigroup adds CapitaMalls Asia (JS8.SG) to its Focus List.

"In the next few years, we expect China to be the key driver of CMA's earnings growth, as the company harvests gains from multi-year investments that have expanded its footprint to 36 cities in the country. The majority of the China portfolio is still in the growth stage, or in the process of stabilisation. India, from a low base, also offers significant upside potential," it says, expecting its Singapore exposure offers a visible stream of recurring income.

CMA's competitive advantages in China can't be easily replicated, including a strong brand equity and solid track record as a first-mover, ability to tie up with other local developers and access to a varied, cheaper pool of financing, Citi says.

"Moreover, CMA has an efficient capital recycling model (via three listed REITs and six private real-estate funds) that enables capital to be freed up for future growth opportunities, which offers upside to our earnings estimates." It tips CMA as its preferred pick among China's retail landlords and within Singapore's developers. It raises its target to $2.58 from $2.08 after increasing RNAV on changed China cap-rate assumptions; it keeps a Buy call.

Dow Jones & Co, Inc

Friday, 01 February 2013

Today's long white candle day formed on the back of heavy volume is a good sign. Overcoming immediate resistance at $2.24 could see price hitting $2.41 next.

Related posts:
1. CapitaMalls Asia: To buy on possible weakness.
2. CapitaMalls Asia: Any correction is a buying oppotunity.
3. CapitaMalls Asia: Buy more at $1.93.

Yongnam: Partial divestment at 27.5c.

Further weakening could see 25c tested as support. It is also where we find the 50% Fibo retracement line.

I decided to lock in some gains yesterday at 27.5c as price spiked very much higher on the back of heavy volume. I did this as, although Yongnam is a fundamentally sound company, my portfolio is too heavily loaded in the stock.

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Yongnam: Looking forward to further weakness.