It’s a Bull Market
November 1, 2010 § Leave a comment
It is a bull market afterall. STI bounced back immediately from “oversold” levels and looks like the uptrend is going to continue.
During the last leg of rally, rotational play in blue chips has helped to inch up the STI, while cushioning the correction.
It would be interesting to see if this coming rally is any similar or more broad-based. If it is the latter, the gains would be more substantial.
Personally, I feel that this second wind of late bulls rushing in should help to push the index at a faster pace than before.
Any sign of weakness would present an excellent opportunity into the early stage of this rally.
But do remember not to chase prices up in a frantic desire to catch it before it runs away.
Always buy near support prices.
Safe bets, again, will be counters which have been oversold, but with its uptrend still intact.
– C & O Pharm (support @ $0.495)
– China Aviation Oil (support @ $1.5)
– Cosco (support @ $1.87)
– Genting HK (support @ $0.445)
– Hi-P (support @ $1.04)
– Ho Bee (support @ $1.71)
– Noble (support @ $1.87)
– Olam (support @ $3.1)
– Singpost (support @ $1.16)
– Venture (support @ $9.2)
– United Enriotech (support @ $0.45)