DBS just released an announcement saying that it expects to recover only half of the $700m exposed to Swiber. It was really that bad with so many bad news from the financial industry. The Swiber chart before it wind up it's business was purely bearish, combined with most of the marine and oil sector stocks entering a bear phase, that just made the entire collection of oil related stocks like Rex, RH Petrogas, Ezra, Ezion, Ausgroup, SwissCo tumbled big time.
Studying the chart of DBS, today it just had a first day of break down with great sellers. In the short to mid term, I expect DBS to have further break down. The chart looks bearish with a major profit taking followed by weak lackluster of buying. Getting ready my CFD for shorting.
Ronald K - Market Psychologist - A Stock Market Opportunist