Market Opinion

Investors continue to stay away from Singapore market inspite of Dow Jones strong rebound,, favouring Japan and North Asia. The overnight US 10 YT spike to 3 month high of 2.93% did not argur well for Singapore Reits and yield stocks. Blumont's rebound provided some shine to some penny stocks. Vallianz blown up volume seems to indicate a short term peak has been reached, most of the distribution done at 0.132, won't turn bullish until it close above this level. Hankore was particularly strong today but 0.073-0.074 level is a huge resistance. Mermaid continue its strong uptrend on the back of it's good 3Q results, strong support at 0.415, will put a stop at 0.41. Ezra closed high today, could be interesting watch tommorrow, BB may roll over last weeks big volume trade which is due next 2 days!

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