The STI had reached a supply area by judging from the supply zone as drawn on the chart. It was dead obvious that the blue chips were jammed at the moment when the Singapore market couldn't move and experienced a sell down while the Dow futures was soaring +200 points and above. Oil was up last evening which was why on my last weekend course, I advocated to watch oil related counters rather than other blue chips.
Many oil related stocks were moving yesterday because of anticipation of oil price moving last evening. Today might be harder to trade but the penny stocks might be coming in play soon. AEM had some company buying and increasing the stake while Ventured moved up another 5.6%. I am going to be super busy today while my team will be watching stocks for me. See you all when I am back next week.
Ronald K - Market Psychologist - A Stock Market Opportunist
