Wednesday, 6 June 2012

Do you jump in to buy singapore stocks now?

Dear Friends,

I know that some of us Singaporeans have take a chance to jump in onboard the ship to acquire some Singapore stocks recently. Today STI goes up 13 points. The stocks do seem cheap now compared to 2 months back.

I am not trying to discourage you from entering but I would suggest if you enter, remember not to enter much. Do cut down on your position size, meaning go in a bit only. It is better to have some cash at hand now. If your stock continues to drop, you can buy again at a lower price.

June is not a month where market is working for you based on the bad economical reports.

Currently I would like to hear better news from Europe and US for me to really jump in big on stocks. Europe needs to give more assurance of Greece or Eurobonds. US need goverment stimulus or QE3 to really beat the bad economical news in June. If there are no such positive news from either countries, I would only go in small even if I enter.

From a technical perspective, I also would like to see a change in US market trend
1) Dow jones need to close higher by more than 100 points (a triple digit figure) to signify confidence.
2) Dow Jones need to be up for 3 consecutive days to signify a slight change in trend

There might be better months ahead. My guess is the real turnaround will come July or August (latest). Make sure you go in big then

Rgds
Daniel

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