STI after consolidating so long between 3240 and 3330, seems poised to break the 3330 curse, powered by a run in Genting and the 3 financial banks. After an Upgrade To Buy From Neutral By Bank of America-Merrill Lynch, Genting goes up 6 cts today. These 2 days, Genting has gone up near to 10 cts.
Tat Hong today also leap forward 6 cts. I am wondering will this run in mid priced stock trigger a run in some other mid priced stocks too? I will monitor closely. Stocks that are in mind are stocks like Yoma, Ezion. Sometimes stocks travel in flocks. A surge in confidence in some stocks can create an avalanche and spill over to similar priced stocks.
Having said that, I am also placing my sight on the US market. Currently there has not been a sure signal that Dow Jones is about to go into a mid term bear run. S&P500 1540 strong support is holding well. But do take note should it break 1540, we need to be careful.
According to Goldman Sachs latest report on the market, the "SELL in MAY and GO Away" effect may not happen this year.
My view is that there will be a correction coming soon, but the big question is WHEN?
My advice is if mid price stocks has a run, short term play is preferred to long term investment.