Dear Friends,
Today Dow did relatively well with a 70 points increase now. So far so good, it seems that tomorrow non farm payroll has a great chance with a better than expectations results given today's quite good jobless claims and yesterday's ADP employment report.
That is one major reason for the increase in the Dow.
But of course, there might still be a chance of missing. We just can never be sure about such results.
My opinion is if you currently have position, continue holding to your position, there might be a good chance STI will be good on Monday. But I do not encourage all to enter new position to take opportunity of the good news as there is still a bit of risk. You may go in next week. For those who want to take the risk, be prepared to lose some $ though the probability of the good result is higher.
Bear in mind if employment reports are good, coupled with the good manufacturing reports released this week, I expect this rally will continue in October.
It shouldn't be a bad October as some feared if jobs reports are good.
Let us pay attention to Friday 8.30pm singapore time for the news...
Rgds
Daniel
www.danielloh.com
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