Tuesday, 3 April 2012

ISM is in-line with forecast, Apple target $1001!

Dear Friends,

Thankfully the market likes the in-line result of ISM report of 53.4% vs 53.5% forecast by Marketwatch. I would consider this result to be in-line although it differs by a meagre 0.1%.  After last Friday Bad Chicago PMI, the market thinks that this is a good result. I also think so!

That is the reason why Dow Jones begins its climb after 10am EST. Currently at midday, it is at its highest point. I would think 2moro should be a positive market in Singapore too. This bullishness may continue for next 2 days.

Today is an opportunity to enter some of the Big Caps in America. Apple will likely test $620 again after Topeka Capital upgrade them to $1001, using a forward P/E of 17. Now Apple P/E is probably around 13. I still think this run-up has potential to continue till its earnings mid of April.

Google also comes back to $645. I would like it to go past $650 before going in again. Mastercard is bullish after galloping back $10 to breakthrough $430. I still continue my target that it has potential to reach $447.

These are some of the Big Caps worth watching in US.

Regards
Daniel

STI breaks 3280 triple top barrier! What are the Singapore Stocks to Look at this quarter?!

Dear Friends, It is great news that Singapore STI has a triple top breakout off 3280 barrier! As a trader, I always look at triple top bre...