S&P500 cant stop climbing. Today, S&P again hits all time high at 1764 and seemingly unstoppable. It does seem to be so different a scenario that singapore market has. Singapore is lifeless! Agian today penny stocks seem to take a beating. Skyone has a 90% drop, ending at the close with a 80% drop.
We did advise on radio all to avoid penny stocks at this moment as this month is the seasonal month that pennies get killed. A lot of funds, including foreign funds, in particular US are dumping pennies. The real pick-up will start end of November or December. It will reach a cheap point where funds will start to pick up again. So that point may be a good point to look at pennies or 52 week low stocks again. Be patient!
By the way, the only sector that is still doing relatively well in Singapore is the commodities sector. This is in line with the good China economical results we have recently.
I got a few friends asking y didn't I have more posts on singapore stocks recently? The answer is that I cant seem to find anything worthwhile to mention.