When the government announced its new property policies to curb speculation of new housing units, half a dozen stock prices for property based stocks such as Allgreen, City Developments and Keppel Land fell overnight.
Took the chance that morning to purchase some lots of Keppel Land and Ho Bee, as the fundamentals of these companies should not be affected by the breaking news. I believe that you can never go too wrong with property in Singapore. Buying a property is more of location than timing, and the companies whose prices had fell this time round weren't only in residential investments.
Upcoming week would be interesting to see if the prices start to show any movement upwards or if investors are still half hearted over the prospect of the property market in Singapore. A perfect example to show how stock prices are so closely related to sentiment.
News. Panic. Sell.
Monday, September 21, 2009
Monday, September 14, 2009
Genting Sg more hype than substance?
Read in the Business Times today about Genting Singapore. Being compared to the tech bubble that started to grow at the start of the internet age, certain analysts have issued 'Buy' signals on Genting, betting on the potential of earnings when the IR begins its operations.
However, fundamentals have been ignored for this loss making company. The optimistic glow shining upon Genting SP has sent the share prices up on a spectacular rise for the past 2 weeks, from about a dollar to $1.21. Prices have fell back to less hyped levels at about $1.06 today.
I would expect the price to drop further, perhaps back to $1. Other stocks have shown great volatility as well. Allgreen properties hit a high of $1.30 in the past week but fell back to my buying price of $1.16.
Would look at the possibility of purchasing some counters tomorrow to make up for those I had sold at the start of September. Hopefully, there would be some dips I can buy in.
However, fundamentals have been ignored for this loss making company. The optimistic glow shining upon Genting SP has sent the share prices up on a spectacular rise for the past 2 weeks, from about a dollar to $1.21. Prices have fell back to less hyped levels at about $1.06 today.
I would expect the price to drop further, perhaps back to $1. Other stocks have shown great volatility as well. Allgreen properties hit a high of $1.30 in the past week but fell back to my buying price of $1.16.
Would look at the possibility of purchasing some counters tomorrow to make up for those I had sold at the start of September. Hopefully, there would be some dips I can buy in.
Saturday, September 5, 2009
just a short note
Do you believe in the September effect?
It is said that bad things in the market take place in the month of September, like the Great Depression in 1930. Will it be a double dip recession this month? Indeed trading volumes have been generally low in SGX and the STI seems to have hit some sort of ceiling slowing down the rebound after the dip.
Having temporarily quit the night trading US market because I couldn't afford the energy and stress amid my studies, I had shifted my focus to the local market. The recent rally in the US market had also died down and the momentum has also influenced the STI.
Have been looking into potential buys now that prices are depressed. My guess is momentum would probably pick up again after next week, though much of the movement will be attributed as usual, to what happens in the US market and more importantly, Hong Kong.
It is said that bad things in the market take place in the month of September, like the Great Depression in 1930. Will it be a double dip recession this month? Indeed trading volumes have been generally low in SGX and the STI seems to have hit some sort of ceiling slowing down the rebound after the dip.
Having temporarily quit the night trading US market because I couldn't afford the energy and stress amid my studies, I had shifted my focus to the local market. The recent rally in the US market had also died down and the momentum has also influenced the STI.
Have been looking into potential buys now that prices are depressed. My guess is momentum would probably pick up again after next week, though much of the movement will be attributed as usual, to what happens in the US market and more importantly, Hong Kong.
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