27july06

SINGAPORE STOCK MARKET NEWS
More upside in the short term.....

The potential negative signal (distribution sign) which occurred on 25july DID NOT lead to a subsequent sell down which I was expecting. For any distribution to be CONFIRMED, stock price should close below the day low of 25july. We saw on 26th and today, 27th that stock prices of most hot stocks DID NOT close below the day low of 25july. Instead, MANY hot stocks brokeout of new short term highs on huge volume today........group breakout is a very bullish short term signal normally.

So what to do now, go with the flow la........trade the short term bullish trend.

Near term results date of some stocks with positive technical signs :

1. aztech – 31july
2. cosco – 31july
3. rotary – 3aug
4. DMX – 3 aug