Dear Friends,
A shocking surprise indeed. Few in Wallstreet actually expects this as this would meant that the QE tapering most probably will start next year only, perhaps after the new FED chairman comes on board and settle down.
What a turn of events. Today Gold futures go up near to 50 points and reached 1350 plus now from a low of 1300. 10 year Treasury note price also suddenly increases.
In the past, I did say to avoid some high dividend yield stocks as tapering of QE and rising of bond yield may cause these stocks to weaken. Well, there might be a change of plans now. There might be a short term turning point for these stocks. Let us see...
I will be looking closely at high dividend stocks, like utility and telecommunications stocks ie. M1, Starhub or Reits sector stocks. Recently these stocks are hit hard. Maybe maybe there might be some changes in plans now.
I shall closely monitor to see if Reits actually change its course. Let us study this together...
In the meantime, I would say tomorrow, do not buy at the open for local market, as market shall already gap up. Suggest all to be patient. Tomorrow may not be a good day to enter the market amid the hype. This hype might die down after the opening. Look at the market only after the hype dies down a bit.
Rgds
Daniel
www.danielloh.com
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