STI - today

STI looked bad today! With a slight spur up of several points in the opening, the rest was downhill right till the trading session close. Needless to say, the Top Volume Stocks were once again coated RED! These remained us of the similar behavior of STI on the 19th Oct 2005. Situation today looked more severe than that day due to the reason which during then it was expected to be swayed by USA weighing us down. But latest USA in this instant was favorable with Dow & Nasdaq both making gain. This means Singapore market is getting more and more nervous, without any catalyst to propel forward. STI dipped 11.88 point (2,254.15). Ratio of decline Vs advance widened 387 and 138 respectively.
Banks was neutral on the average, DBS (XD) down, UOB maintained and OCBC up. Tech sectors and Property on the average finished in the red.Oil companies were not spared: Keppel Corp, Pearl Enegry, Semb Marine, Sem Corp and etc, etc. Strikingly,more precipitous was again SPC plummeted 22 cents to a mere $4.38. This, incidentally coincidented with TAs that I have drawn; screaming its doomday a few sessions ago! The stocks that caught my eyes, the so called “strong stock in weak market” were SPH, ComgortDelgro, ST Eng and Yellow Pages. Incidentally, there are blue chips with high Dividend yield. My recent call on "Where to put your Money Next" is starting to backup with these evidences! In retrospect:the rotational strategy is "to seek Blue Chip with high Yield" when Bear Market persisted".
All in all, the scenario was from a feeble rose, great yawn and ended a nasty fall!
All not lost, hope the ending thrust of a doji(shown in Chart above) with long bottom shadow shall bring us a dragonfly tomorrow!