S&P500 hits the highest last seen in Aug 2022! Should we buy, hold or sell? (3 Jun 23)

June 3, 2023 el15

Dear all First of all, apologies for the hiatus in posting new market outlook on my blog. I have been extremely busy for the past three months. My clients can attest to how busy I have been. I have been sending out my market views and news even on weekends and on public holidays. 😊 With reference to my previous writeup published on 26 Feb 2023 (click HERE), I mentioned that I planned to pare positions so that I can accumulate on weakness. In retrospect, it was a timely call. I was fortunate that I have pared my positions so […]

Figure 1_UOB analyst target price 25 Oct 22

Dow seems to have formed a bullish double bottom formation (25 Oct 2022)

October 25, 2022 el15

Dear all Talk to anyone and I guess at least 50% of them are shaking their heads. Some of their usual concerns are a) Anxieties on the economy and their jobs in 2023; b) Hit by inflationary pressures from rising costs ranging from food, fuel, electricity, cars and properties; c) Worries over their home mortgage as rates are soaring through the roof; d) Concerns on their portfolios whether there may be more losses ahead and etc… At the point of writing this article, Hang Seng closed -1,030 points lower, or -6.4% to close 15,181. Is it all doom and gloom? […]

Table 2_Top ten stocks sorted by total potential return 31 Jan 22

STI is up 10.1% YTD; may face profit taking in the near-term (16 Feb 2022)

February 17, 2022 el15

Dear all STI has been on a tear since the start of the year. With reference to my write-up published on 5 Jan 2022 (click HERE) citing that Asian indices are likely to outperform that of the U.S. market in 2022, STI has indeed notched strong year to date (“YTD”) gains of 10.1% to close 3,439 on 16 Feb 2022. This outperformance is especially stark if we compare it to S&P500’s -6.1% YTD returns. As I have shared with Lianhe Zaobao on 9 Feb 2022, I personally feel that our STI is overbought in the near term with several near-term […]

STI – to head towards 3,390 points in 1Q2020? (25 Dec 19)

December 25, 2019 el15

Merry Xmas! As we approach end 2019, most market strategists are putting their market estimates for end 2020. Although I do not profess to be in the league of these market strategists, just for fun, I am expecting STI to head towards 3,390 in 1Q2020. STI closed at 3,222 on 24 Dec 2019. I have outlined my basis and the risks involved. Factors for my bullish basis a) Chart looks positive after bullish break Based on Chart 1 below, STI has staged a bullish break above its flag formation on 12 Dec 2019. Notwithstanding below average volume for the […]

Qualcomm – extremely overbought after a 74% rally within 3 months! (23 Apr 19)

April 23, 2019 el15

Dear readers, This week, Qualcomm caught my attention as it has appreciated approximately 74% from US$49.10 to trade at US$85.62 in less than 3 months. This is due in part to the favourable announcement that Qualcomm and Apple have reached a multi-year settlement agreement (click HERE for more information) Why is it interesting? Personally, I think Qualcomm may be a potential short target with a favourable risk to reward proposition with a take profit of a few bids, base mainly on a technical perspective. Basis to short a) With reference to Chart 1 below, Qualcomm is on a […]

U.S. indices monthly performance since 1928

S&P500, Nasdaq and Russell 2000 hit records, time to switch to underperforming markets? (24 Aug 18)

August 26, 2018 el15

Dear all, S&P500, Nasdaq and Russell 2000 hit records last Friday with S&P500 closing at 2,875. However, our STI has dropped 11.8% after hitting a decade high of 3,642 on 2 May 2018. Hang Seng has also tumbled 17.4% after hitting a high of 33,484 on 29 Jan 2018. Is this the time to switch out of the U.S. markets and plough it back to STI and Hang Seng? This seems to be the question on most investors’ minds as I am also posed this question during a live interview on Money FM89.3 on last Thursday. Let’s take a closer […]

STI – down 9.4% since 2 May. Correction coming, or buying opportunity? (19 Jun 18)

June 20, 2018 el15

With reference to my market outlook HERE posted on 11 May 2018, I mentioned at that time that I have started to sell into strength, as I am cautious on the overall market. I updated on 30 May 2018 (click HERE) that STI is likely to trade sideways with downward bias. Separately, my clients would have been notified on 12 Jun 2018 morning that I have already reduced my percentage invested to approximately 40% as I believe market is likely to trend downwards in the next couple of weeks. In the span of four trading days, STI has dropped 148 […]