The week has been volatile. The Dow rises more than 1% due to weak jobs data. The market is expecting an interest rate cut in October. This is concerning as the market does not reflect the economic reality.
The bubble is getting bigger and not sure when the music will stop. The recession has been long overdue.
Turning my eyes to these stocks that I have writing about the past month.
Singtel started the week at 3.12 and closes the week at 3.1. The swing is between 3.08 and 3.14.
It is interesting to note that the volumes are higher when it is below 3.1. I think investors are looking to come in when it is trading below 3.08 given it is a defensive stock. I think it may touch 3.05 next week.
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| Singtel Week Stock Chart |
Starhub started the week at a high of 1.32 and ends at 1.29. As written below, it appears to be on a downtrend. There was a minor disclosure that the
CEO is given some stocks options. It is about 824,000 shares. Probably, it is around 1.28 strike price. I guess, he is motivated to push up the stock price. I tried queue at 1.28 but did not get it this week. Perhaps, will try again next week.
Keppel ended the week lower. It is now at the years low. Touching 5.8. Volumes are quite high. I think it may go lower if the oil prices tend down next week. There are no positive news to turn this stock around.
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| Keppel Week Stock Chart |
The stock like Keppel is at its lows too. Probably, touching 2 next week.
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| SembCorp
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SembMarine is quite flat this week with low volumes. Need to wait for the quarterly results to see if they can arrest their losses for the past quarters. Some interest in the mid week when it reaches 1.15.
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| SembMarine
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It has been a poor start of the quarter for these stocks. Well, it is October. More misery will come for these stocks. But I think there are buying opportunities for the long term investor.
Please see my disclaimer in my blog...
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