Property Stocks - A Tumultuous Period

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

Propnex - Painful Selling

More selling in the property stocks as the market sold down even lower together with STI. See the 5 minute chart for STI, it gap down and tanked down lower. See the 5 minute chart for Propnex, it's the same, it gap down and tanked lower with the overall property stocks like CityDev. The theme today is property stocks and selling property stocks so stay out of the property counters for now until the timing is golden and the turning point is there. I will not touch anything for now since the market is pretty hard to predict and volatile. Propnex drop another further 21.7% today. So scary!

http://stockmarketmindgames.blogspot.com/2018/07/propnex-lacked-of-buyers.html

Ronald K - Market Psychologist - A Stock Market Opportunist

Propnex - Property Stocks Battered Down

Propnex, a stock which I blogged and shared my bearish analysis yesterday gap down -13.0% today due to some property cooling measures announced yesterday. Click below to read.

https://www.theedgesingapore.com/singapore-raises-stamp-duty-rates-additional-property-purchases-cool-market 

Together with many stocks, because of this bad news, many property stocks got battered down bad and many other blue chips were also affected like the banks. The Top Volume was mainly selling and the market looks really bad with STI plunging -70 points. The market is going through some rough and tough times and it looked like many are selling heavily. It's not a good time to tough stocks on the long side for now and with Propnex lacked of buyers, it was good enough to make forecast and predictions on not to touch property related counters yesterday even though they surged and ran like a fake breakout.

https://stockmarketmindgames.blogspot.com/2018/07/propnex-lacked-of-buyers.html

Ronald K - Market Psychologist - A Stock Market Opportunist

Propnex - Lacked of Buyers

I was studying Propnex chart since it went IPO 4 days back with quite a number of interest. I wanted to see who's going to win the game, the buyers / sellers? To know who will be the winner, it's important to be patient and watch and not to take unnecessary trading actions since it's a IPO stock. After 4 days, I finally can conclude that the sellers were overpowering the buyers. The wave 1 and wave 2 were of different length and with a lacked of follow through in the buyers, the sellers were just waiting to lock in profits.

I remembered watching the stock on the first day of trading where it climbed so fast that the queue numbers were eaten up so quickly that the sellers couldn't have time to react during the first 30 minutes. Thereafter, there was this unloading action that the price came down real quick that buyers couldn't cope which indicated some heavy profit taking going on. Soon, buyers slowly disappeared and did not support the stock much and as of now it's reaching the opening price of the IPO day. I am not sure if this stock can run again but I will study the waves.

Ronald K - Market Psychologist - A Stock Market Opportunist