OCBC update

Sell OCBC at $9.47 on 8th Mar; Intraday trade at $9.30

Trade decision conditions:

1. Surprise by it's sudden surge to the near resistance of $9.50 - $9.55
2. Tempted to take profit; affected by the situation in US
3. Near resistance at $9.50 - $9.55

Profit: 1.8%

OCBC

Buy OCBC at $9.30 on 8th Mar

Trade decision conditions:

1. Dividend of $0.15
2. It has been my most preferred bank than the other 2
3. Technically, it holds firmly above the 10DMA ($9.27). And the 10DMA is turning up.

Stop: $9.10

STI update

Let's take a look at US DJ situation.

A correction is at the corner, 50DMA (11964) is going to face the battle. This is contrary to the Asia mkts. From last Friday till yesterday night, DJ had dropped more than 150 points. But STI has not responded to it.

The technical signs are showing the positive signs. Firstly, STI is able to cross the 200DMA. Secondly, the MACD is showing the 'buy' sign. The immediate sign see 3120 as the main resistance. I expect the STI to face some volatility over this area before it continues the bull run. Of course, US situation must get better too before the bull run can continue.

Global market

The picture looks a bit unclear now. China market has rallied to test 3000 points and US markets are facing some corrections. At my point of view, it will be difficult for China market to cross 3000 hurdle firmly until US finishes it's correction.

So what will happen to STI? Personally, i feel STI will face a bit of pullback after recent rebound. I am still holding a bit of my stocks as i believe a real rebound is around the corner. For every pullback in STI, i will look for chance to enter.

Capitaland

Buy Capitaland at $3.36 on 3rd March

Trade decision condition:

1. Weekly chart is showing engulfing sign
2. Cross the short term 10DMA.
3. Generous dividend payout every quarter
4. The largest property counter in STI

Stop: $3.24 (can be a long term trade)

Please take note: The government intervention to the property market may happen again to cool down the property price.

Ezra

There was a bit of volatility on STI recently, due to a minor correction in DJ. In the short term, i would feel DJ may face further sell-down. So STI may also face a bit hiccup on that. Personally, i felt that it was a consolidation state for STI. For every sell-down, i would buy in.

The immediate support i feel now is 3025. We may not see another selldown to 2980 again. At this moment, we may see STI trying to test 3050 (200DMA) again.

Buy Ezra at $1.69 on 3rd March

Trade decision conditions:

1. STI consolidation state
2. Technically, Ezra has crossed the 10DMA and 30DMA. The 10DMA line is making a u-turn.
3. Ezra has a PE of 13.8x and yield of 0.8.
4. It is very near to the 52 week low of $1.50

Stop: $1.60

Profit taking day

Sell Singtel at $2.99 on 1st Mar 2011; buy on 25th Feb 2011
Sell Golden Agr at at $0.68 on 1st Mar 2011; buy on 28th Feb 2011
Sell CityDev at $11.20 on 1st Mar 2011; buy on 24th Feb 2011

Trade decision conditions:

1. STI rebound up to 3040; expects it to face resistance over this range 3040 - 3050
2. Expects STI to go under 2980 again. As such, i can pick up these stocks again
3. Short-term trading as i am trading against the short-term downtrend

Profit: Singtel +4%
Profit: Golden Agr +6%
Profit: CityDev +3%

Overall Profit: 13% (Achieve in 2 weeks)