It's a tumultuous period for the property stocks in recent months as most property stocks suffered heavy profit taking at it's height and slowly as the days passed by, the lacked of support and buyers induced more sellers to take profit and short sell the property stocks. Today most of the property stocks tanked big time, but it all started when I spotted Propnex's lacked of buyers yesterday which gave me clue not to touch property stocks anymore where I posted my accurate analysis LIVE on my blog.
http://stockmarketmindgames.blogspot.com/2018/07/propnex-lacked-of-buyers.html
Capitaland, UOL, CityDev, Propnex and APAC Realty all tumbled without any buyers as all the property stocks just went lower and lower, reaching new lows and still no buyers came to support. A lot of negativity news and bad vibes were hanging in the air and things might only get worse. Click below to see all the bad news.
https://www.theedgesingapore.com/sales-momentum-turn-cold-en-bloc-activity-wane-developers-rethink-strategies
https://www.theedgesingapore.com/can-singapore-banks-weather-storm-surprise-property-cooling-measures-strike
https://www.businesstimes.com.sg/real-estate/singapore-developer-stocks-may-fall-on-surprise-property-curbs
https://www.businesstimes.com.sg/real-estate/govt-raises-absd-tightens-ltv-limits-to-cool-singapore-property-market
I am not sure where the bottom is nor how low it can go but it's definitely not the time to load property or property stocks. Because of the property stocks, it pulled down the banking sector too and together everything fumble and did not managed to recover. It's a bad day and bad time for our market and I can only look forward on it's recovery one day.
Ronald K - Market Psychologist - A Stock Market Opportunist
