SMRT just got offered from Temasek Holdings for S$1.18B and the stock after 3 days of halt started to gap up today. Studying the chart, it revealed that the stock was weak instead of strong and I wasn't able to predict the buy out that happened yesterday. There was a some profit taking and distribution and the buying wasn't strong. To see the bail out of SMRT was just pleasing because the government is trying their best to make the transport system better. Could it spell more privatization of other Singapore brand conglomerates? Only time will tell.
http://www.channelnewsasia.com/news/singapore/temasek-to-buy-out-public/2972208.html
Ronald K - Market Psychologist - A Stock Market Opportunist
