Penny stocks plummet after record highs

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#11
I just realised penny stock has crashed after reading this article. May be my screens helped to cut out the noise from the market.

Been investing in the market since mid 80s. Seen so many bull runs and crashes. Fortunately I have been fundamentally driven all these years.

There are times that I really wonder what is the value of value investment - when you have runners of syndicates driving off a brand new car that fetches COE of $100k in the 90s even though they were just students.

Anyway, be it CLOB stocks, dot.com, S Chips and even the most recent dunno what themes, they will just go down in history books as lessons.

The beauty of value investments is simply buy and hold and need not worry. Its basically buy low and sell high.

GG

(12-03-2013, 07:59 AM)Musicwhiz Wrote: If you are prepared to speculate, then also be prepared to lose substantial sums of money!

The Straits Times
www.straitstimes.com
Published on Mar 12, 2013
Penny stocks plummet after record highs

Myanmar plays worst hit amid weak market and fresh trading curbs

By Anita Gabriel Senior Correspondent

THE rally in penny stocks that has taken many to record highs this year came to a crashing halt yesterday with a trader referring to the selldown as a "burst bubble".

Many shares that have shot up despite the firms not having impressive fundamentals were dumped amid a relatively weak market and fresh trading curbs that were imposed by some brokerages.

One stock, WE Holdings, lost 47 per cent. Others were down by as much as 20 per cent while the FTSE ST Catalist Index, which tracks 109 counters, mostly penny stocks, lost 5 per cent.

The FTSE Fledgling Index, which reflects the value of the bottom 2 per cent of stocks by market capitalisation, fell nearly 2 per cent. Both these indices have risen about 14 per cent this year, far outpacing the benchmark Straits Times Index's 4 per cent rise.

Retail investors who chased these stocks on the herd mentality are probably the biggest losers.

"Retail investors lost quite a bit of money today. The lesson is that it is never in their interest to chase a stock that is trading way above its book value," said remisier Alvin Yong.

Yesterday's decline only underscored a trend that has been in motion over recent weeks.

"It's not really unusual as most of the recently active penny stocks have started to slow down after a considerable run," said another remisier.

Realisation may have also set in that some of these shares were at levels well above their true value.

"The bubble has burst. Some of these counters were trading way ahead of their fundamentals with lofty expectations. There is a sense of reality that has hit investors that the shares have run ahead of the developments," said Mr Yong.

Myanmar plays topped the hit list yesterday. The steepest decline was felt by Catalist-listed WE Holdings, which was chased up recently on news of a potential tie-up and business venture in the new land of opportunities.

The counter reached a high of 18.4 cents on Feb 26. But it plunged six cents or 47 per cent to 6.8 cents yesterday, on trade of 410 million shares worth $39 million, the day's most active stock.

Another Myanmar play, Aussino Group, lost 2.2 cents or 12 per cent to 16.7 cents. Last year, the lifestyle product supplier was a subject of a reverse takeover led by a prominent Myanmar businessman to mark its shift into the country's budding energy sector. That helped the counter hit a high of 29 cents on Jan 31.

The corporate development is still in limbo and faces regulatory risk. The maker of bedlinen and towels has been suffering losses since 2008 and was placed on the Singapore Exchange watch-list in 2011. "There have been no updates on the deal and the company has yet to turn around. But it's already trading like a profitable firm," a dealer pointed out.

Ntegrator International shed two cents or 19 per cent to 8.4 cents. The communications network firm said in January that it secured $12 million in new contracts.

Investor favourite Yoma Strategic also came under selling pressure, falling 7.5 cents or 9 per cent to 75.5 cents.

"When these micro stocks fall, they fall very fast. Retail investors are not that nimble to get out and fear grips them. So, some of these counters will have few buyers which precipitates the fall," said remisier Ernest Lim.

The sharp fall in some of these counters could have also been a result of trading curbs from stockbroking houses that require more cash upfront so they can limit their exposure to a single counter. Broker UOB Kay Hian has imposed restricted online trading on 15 stocks, including WE Holdings, according to its website.

anitag@sph.com.sg
Reply
#12
Well Greengiraffe, thats show you are not pitching against dens of operators. anyway I believe the penny rally not over yet. Probably rotational play again to blue chips

(12-03-2013, 09:01 PM)greengiraffe Wrote: I just realised penny stock has crashed after reading this article. May be my screens helped to cut out the noise from the market.

Been investing in the market since mid 80s. Seen so many bull runs and crashes. Fortunately I have been fundamentally driven all these years.

There are times that I really wonder what is the value of value investment - when you have runners of syndicates driving off a brand new car that fetches COE of $100k in the 90s even though they were just students.

Anyway, be it CLOB stocks, dot.com, S Chips and even the most recent dunno what themes, they will just go down in history books as lessons.

The beauty of value investments is simply buy and hold and need not worry. Its basically buy low and sell high.

GG

(12-03-2013, 07:59 AM)Musicwhiz Wrote: If you are prepared to speculate, then also be prepared to lose substantial sums of money!

The Straits Times
www.straitstimes.com
Published on Mar 12, 2013
Penny stocks plummet after record highs

Myanmar plays worst hit amid weak market and fresh trading curbs

By Anita Gabriel Senior Correspondent

THE rally in penny stocks that has taken many to record highs this year came to a crashing halt yesterday with a trader referring to the selldown as a "burst bubble".

Many shares that have shot up despite the firms not having impressive fundamentals were dumped amid a relatively weak market and fresh trading curbs that were imposed by some brokerages.

One stock, WE Holdings, lost 47 per cent. Others were down by as much as 20 per cent while the FTSE ST Catalist Index, which tracks 109 counters, mostly penny stocks, lost 5 per cent.

The FTSE Fledgling Index, which reflects the value of the bottom 2 per cent of stocks by market capitalisation, fell nearly 2 per cent. Both these indices have risen about 14 per cent this year, far outpacing the benchmark Straits Times Index's 4 per cent rise.

Retail investors who chased these stocks on the herd mentality are probably the biggest losers.

"Retail investors lost quite a bit of money today. The lesson is that it is never in their interest to chase a stock that is trading way above its book value," said remisier Alvin Yong.

Yesterday's decline only underscored a trend that has been in motion over recent weeks.

"It's not really unusual as most of the recently active penny stocks have started to slow down after a considerable run," said another remisier.

Realisation may have also set in that some of these shares were at levels well above their true value.

"The bubble has burst. Some of these counters were trading way ahead of their fundamentals with lofty expectations. There is a sense of reality that has hit investors that the shares have run ahead of the developments," said Mr Yong.

Myanmar plays topped the hit list yesterday. The steepest decline was felt by Catalist-listed WE Holdings, which was chased up recently on news of a potential tie-up and business venture in the new land of opportunities.

The counter reached a high of 18.4 cents on Feb 26. But it plunged six cents or 47 per cent to 6.8 cents yesterday, on trade of 410 million shares worth $39 million, the day's most active stock.

Another Myanmar play, Aussino Group, lost 2.2 cents or 12 per cent to 16.7 cents. Last year, the lifestyle product supplier was a subject of a reverse takeover led by a prominent Myanmar businessman to mark its shift into the country's budding energy sector. That helped the counter hit a high of 29 cents on Jan 31.

The corporate development is still in limbo and faces regulatory risk. The maker of bedlinen and towels has been suffering losses since 2008 and was placed on the Singapore Exchange watch-list in 2011. "There have been no updates on the deal and the company has yet to turn around. But it's already trading like a profitable firm," a dealer pointed out.

Ntegrator International shed two cents or 19 per cent to 8.4 cents. The communications network firm said in January that it secured $12 million in new contracts.

Investor favourite Yoma Strategic also came under selling pressure, falling 7.5 cents or 9 per cent to 75.5 cents.

"When these micro stocks fall, they fall very fast. Retail investors are not that nimble to get out and fear grips them. So, some of these counters will have few buyers which precipitates the fall," said remisier Ernest Lim.

The sharp fall in some of these counters could have also been a result of trading curbs from stockbroking houses that require more cash upfront so they can limit their exposure to a single counter. Broker UOB Kay Hian has imposed restricted online trading on 15 stocks, including WE Holdings, according to its website.

anitag@sph.com.sg
Reply
#13
Agree. How to be over when I am expecting STI to top 6000 points when the bull run ends in 2016/17?

The bull run will build complacency amongst players so that more new blood will surface to sustain the run. Corrections are only healthy so that confidence feeds on confidence.

Bear mkt 3 years and bull market is a torturing 7 years. We are just in the mid cycle.

(12-03-2013, 09:44 PM)2V. Wrote: Well Greengiraffe, thats show you are not pitching against dens of operators. anyway I believe the penny rally not over yet. Probably rotational play again to blue chips

(12-03-2013, 09:01 PM)greengiraffe Wrote: I just realised penny stock has crashed after reading this article. May be my screens helped to cut out the noise from the market.

Been investing in the market since mid 80s. Seen so many bull runs and crashes. Fortunately I have been fundamentally driven all these years.

There are times that I really wonder what is the value of value investment - when you have runners of syndicates driving off a brand new car that fetches COE of $100k in the 90s even though they were just students.

Anyway, be it CLOB stocks, dot.com, S Chips and even the most recent dunno what themes, they will just go down in history books as lessons.

The beauty of value investments is simply buy and hold and need not worry. Its basically buy low and sell high.

GG

(12-03-2013, 07:59 AM)Musicwhiz Wrote: If you are prepared to speculate, then also be prepared to lose substantial sums of money!

The Straits Times
www.straitstimes.com
Published on Mar 12, 2013
Penny stocks plummet after record highs

Myanmar plays worst hit amid weak market and fresh trading curbs

By Anita Gabriel Senior Correspondent

THE rally in penny stocks that has taken many to record highs this year came to a crashing halt yesterday with a trader referring to the selldown as a "burst bubble".

Many shares that have shot up despite the firms not having impressive fundamentals were dumped amid a relatively weak market and fresh trading curbs that were imposed by some brokerages.

One stock, WE Holdings, lost 47 per cent. Others were down by as much as 20 per cent while the FTSE ST Catalist Index, which tracks 109 counters, mostly penny stocks, lost 5 per cent.

The FTSE Fledgling Index, which reflects the value of the bottom 2 per cent of stocks by market capitalisation, fell nearly 2 per cent. Both these indices have risen about 14 per cent this year, far outpacing the benchmark Straits Times Index's 4 per cent rise.

Retail investors who chased these stocks on the herd mentality are probably the biggest losers.

"Retail investors lost quite a bit of money today. The lesson is that it is never in their interest to chase a stock that is trading way above its book value," said remisier Alvin Yong.

Yesterday's decline only underscored a trend that has been in motion over recent weeks.

"It's not really unusual as most of the recently active penny stocks have started to slow down after a considerable run," said another remisier.

Realisation may have also set in that some of these shares were at levels well above their true value.

"The bubble has burst. Some of these counters were trading way ahead of their fundamentals with lofty expectations. There is a sense of reality that has hit investors that the shares have run ahead of the developments," said Mr Yong.

Myanmar plays topped the hit list yesterday. The steepest decline was felt by Catalist-listed WE Holdings, which was chased up recently on news of a potential tie-up and business venture in the new land of opportunities.

The counter reached a high of 18.4 cents on Feb 26. But it plunged six cents or 47 per cent to 6.8 cents yesterday, on trade of 410 million shares worth $39 million, the day's most active stock.

Another Myanmar play, Aussino Group, lost 2.2 cents or 12 per cent to 16.7 cents. Last year, the lifestyle product supplier was a subject of a reverse takeover led by a prominent Myanmar businessman to mark its shift into the country's budding energy sector. That helped the counter hit a high of 29 cents on Jan 31.

The corporate development is still in limbo and faces regulatory risk. The maker of bedlinen and towels has been suffering losses since 2008 and was placed on the Singapore Exchange watch-list in 2011. "There have been no updates on the deal and the company has yet to turn around. But it's already trading like a profitable firm," a dealer pointed out.

Ntegrator International shed two cents or 19 per cent to 8.4 cents. The communications network firm said in January that it secured $12 million in new contracts.

Investor favourite Yoma Strategic also came under selling pressure, falling 7.5 cents or 9 per cent to 75.5 cents.

"When these micro stocks fall, they fall very fast. Retail investors are not that nimble to get out and fear grips them. So, some of these counters will have few buyers which precipitates the fall," said remisier Ernest Lim.

The sharp fall in some of these counters could have also been a result of trading curbs from stockbroking houses that require more cash upfront so they can limit their exposure to a single counter. Broker UOB Kay Hian has imposed restricted online trading on 15 stocks, including WE Holdings, according to its website.

anitag@sph.com.sg
Reply
#14
Wow STI 6000! Are you fully load up for this journey?

Agree with you this is only the beginning, Im also expecting STI break new high in 2014/15.

(12-03-2013, 09:58 PM)greengiraffe Wrote: Agree. How to be over when I am expecting STI to top 6000 points when the bull run ends in 2016/17?

The bull run will build complacency amongst players so that more new blood will surface to sustain the run. Corrections are only healthy so that confidence feeds on confidence.

Bear mkt 3 years and bull market is a torturing 7 years. We are just in the mid cycle.

(12-03-2013, 09:44 PM)2V. Wrote: Well Greengiraffe, thats show you are not pitching against dens of operators. anyway I believe the penny rally not over yet. Probably rotational play again to blue chips

(12-03-2013, 09:01 PM)greengiraffe Wrote: I just realised penny stock has crashed after reading this article. May be my screens helped to cut out the noise from the market.

Been investing in the market since mid 80s. Seen so many bull runs and crashes. Fortunately I have been fundamentally driven all these years.

There are times that I really wonder what is the value of value investment - when you have runners of syndicates driving off a brand new car that fetches COE of $100k in the 90s even though they were just students.

Anyway, be it CLOB stocks, dot.com, S Chips and even the most recent dunno what themes, they will just go down in history books as lessons.

The beauty of value investments is simply buy and hold and need not worry. Its basically buy low and sell high.

GG

(12-03-2013, 07:59 AM)Musicwhiz Wrote: If you are prepared to speculate, then also be prepared to lose substantial sums of money!

The Straits Times
www.straitstimes.com
Published on Mar 12, 2013
Penny stocks plummet after record highs

Myanmar plays worst hit amid weak market and fresh trading curbs

By Anita Gabriel Senior Correspondent

THE rally in penny stocks that has taken many to record highs this year came to a crashing halt yesterday with a trader referring to the selldown as a "burst bubble".

Many shares that have shot up despite the firms not having impressive fundamentals were dumped amid a relatively weak market and fresh trading curbs that were imposed by some brokerages.

One stock, WE Holdings, lost 47 per cent. Others were down by as much as 20 per cent while the FTSE ST Catalist Index, which tracks 109 counters, mostly penny stocks, lost 5 per cent.

The FTSE Fledgling Index, which reflects the value of the bottom 2 per cent of stocks by market capitalisation, fell nearly 2 per cent. Both these indices have risen about 14 per cent this year, far outpacing the benchmark Straits Times Index's 4 per cent rise.

Retail investors who chased these stocks on the herd mentality are probably the biggest losers.

"Retail investors lost quite a bit of money today. The lesson is that it is never in their interest to chase a stock that is trading way above its book value," said remisier Alvin Yong.

Yesterday's decline only underscored a trend that has been in motion over recent weeks.

"It's not really unusual as most of the recently active penny stocks have started to slow down after a considerable run," said another remisier.

Realisation may have also set in that some of these shares were at levels well above their true value.

"The bubble has burst. Some of these counters were trading way ahead of their fundamentals with lofty expectations. There is a sense of reality that has hit investors that the shares have run ahead of the developments," said Mr Yong.

Myanmar plays topped the hit list yesterday. The steepest decline was felt by Catalist-listed WE Holdings, which was chased up recently on news of a potential tie-up and business venture in the new land of opportunities.

The counter reached a high of 18.4 cents on Feb 26. But it plunged six cents or 47 per cent to 6.8 cents yesterday, on trade of 410 million shares worth $39 million, the day's most active stock.

Another Myanmar play, Aussino Group, lost 2.2 cents or 12 per cent to 16.7 cents. Last year, the lifestyle product supplier was a subject of a reverse takeover led by a prominent Myanmar businessman to mark its shift into the country's budding energy sector. That helped the counter hit a high of 29 cents on Jan 31.

The corporate development is still in limbo and faces regulatory risk. The maker of bedlinen and towels has been suffering losses since 2008 and was placed on the Singapore Exchange watch-list in 2011. "There have been no updates on the deal and the company has yet to turn around. But it's already trading like a profitable firm," a dealer pointed out.

Ntegrator International shed two cents or 19 per cent to 8.4 cents. The communications network firm said in January that it secured $12 million in new contracts.

Investor favourite Yoma Strategic also came under selling pressure, falling 7.5 cents or 9 per cent to 75.5 cents.

"When these micro stocks fall, they fall very fast. Retail investors are not that nimble to get out and fear grips them. So, some of these counters will have few buyers which precipitates the fall," said remisier Ernest Lim.

The sharp fall in some of these counters could have also been a result of trading curbs from stockbroking houses that require more cash upfront so they can limit their exposure to a single counter. Broker UOB Kay Hian has imposed restricted online trading on 15 stocks, including WE Holdings, according to its website.

anitag@sph.com.sg
Reply
#15
It is true that bull markets often last longer than bear markets, on average.

However, exuberance may start very early on, and catch fire much later. But the problem is, as investors we need to be comfortable with risk and ensure margin of safety. This means not over-paying for growth which may never materialize.
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
Reply
#16
I used simple fibonacci waves as my rough guide to convince myself:

Last peak was 3800 and the low at the bear trough was 1600, total 2200 and add it back to 3800, I arrive at 6000.

As you know technicals is pure chart reading and suppose to build in all emotions.

With this guide, I monitor global economic changes to formulate my tactical approaches for a strategic target of 6000.

So far, US is the main leader of the current bull - rightly so because US has successfully restructured. With its new found shale gas, unemployment numbers has already witnessed relocation of industries back to US.

Europe is still lagging due to its marriage of odd countries with diverse economic variables. We need Europe to muddle along so that the liquidity tap is to remain on longer. As Euro central bankers continue to sustain the odd marriage and muddle along, liquidity tap continued to be on.

Japan is a surprise due to a copy cat style. However, Japan can't fight greying population woes. Inflation targeting and depreciation of Yen can only sustain a short run bull - aka a bull dozed with viagra. How it pans out - keep watching lor.

As for most of asset inflation affected economics like BRIC, Singapore and HK, monetary policies and other measures to combat and sterilise hot money will limit mkt out-performances. However, with a global bull market, a crash can be ruled out until global interest rates start to creep up.

Even when interest rates start to creep up, the fat lady wont be the first to start singing. Fed has committed to a low interest rate regime at least till 2014. With Europe muddling, no single central bankers will dare stage a Rambo shootout until all the enemies convincingly emerged.

That's all for my self convincing views - Akan Datang

(12-03-2013, 10:29 PM)2V. Wrote: Wow STI 6000! Are you fully load up for this journey?

Agree with you this is only the beginning, Im also expecting STI break new high in 2014/15.

(12-03-2013, 09:58 PM)greengiraffe Wrote: Agree. How to be over when I am expecting STI to top 6000 points when the bull run ends in 2016/17?

The bull run will build complacency amongst players so that more new blood will surface to sustain the run. Corrections are only healthy so that confidence feeds on confidence.

Bear mkt 3 years and bull market is a torturing 7 years. We are just in the mid cycle.

(12-03-2013, 09:44 PM)2V. Wrote: Well Greengiraffe, thats show you are not pitching against dens of operators. anyway I believe the penny rally not over yet. Probably rotational play again to blue chips

(12-03-2013, 09:01 PM)greengiraffe Wrote: I just realised penny stock has crashed after reading this article. May be my screens helped to cut out the noise from the market.

Been investing in the market since mid 80s. Seen so many bull runs and crashes. Fortunately I have been fundamentally driven all these years.

There are times that I really wonder what is the value of value investment - when you have runners of syndicates driving off a brand new car that fetches COE of $100k in the 90s even though they were just students.

Anyway, be it CLOB stocks, dot.com, S Chips and even the most recent dunno what themes, they will just go down in history books as lessons.

The beauty of value investments is simply buy and hold and need not worry. Its basically buy low and sell high.

GG

(12-03-2013, 07:59 AM)Musicwhiz Wrote: If you are prepared to speculate, then also be prepared to lose substantial sums of money!

The Straits Times
www.straitstimes.com
Published on Mar 12, 2013
Penny stocks plummet after record highs

Myanmar plays worst hit amid weak market and fresh trading curbs

By Anita Gabriel Senior Correspondent

THE rally in penny stocks that has taken many to record highs this year came to a crashing halt yesterday with a trader referring to the selldown as a "burst bubble".

Many shares that have shot up despite the firms not having impressive fundamentals were dumped amid a relatively weak market and fresh trading curbs that were imposed by some brokerages.

One stock, WE Holdings, lost 47 per cent. Others were down by as much as 20 per cent while the FTSE ST Catalist Index, which tracks 109 counters, mostly penny stocks, lost 5 per cent.

The FTSE Fledgling Index, which reflects the value of the bottom 2 per cent of stocks by market capitalisation, fell nearly 2 per cent. Both these indices have risen about 14 per cent this year, far outpacing the benchmark Straits Times Index's 4 per cent rise.

Retail investors who chased these stocks on the herd mentality are probably the biggest losers.

"Retail investors lost quite a bit of money today. The lesson is that it is never in their interest to chase a stock that is trading way above its book value," said remisier Alvin Yong.

Yesterday's decline only underscored a trend that has been in motion over recent weeks.

"It's not really unusual as most of the recently active penny stocks have started to slow down after a considerable run," said another remisier.

Realisation may have also set in that some of these shares were at levels well above their true value.

"The bubble has burst. Some of these counters were trading way ahead of their fundamentals with lofty expectations. There is a sense of reality that has hit investors that the shares have run ahead of the developments," said Mr Yong.

Myanmar plays topped the hit list yesterday. The steepest decline was felt by Catalist-listed WE Holdings, which was chased up recently on news of a potential tie-up and business venture in the new land of opportunities.

The counter reached a high of 18.4 cents on Feb 26. But it plunged six cents or 47 per cent to 6.8 cents yesterday, on trade of 410 million shares worth $39 million, the day's most active stock.

Another Myanmar play, Aussino Group, lost 2.2 cents or 12 per cent to 16.7 cents. Last year, the lifestyle product supplier was a subject of a reverse takeover led by a prominent Myanmar businessman to mark its shift into the country's budding energy sector. That helped the counter hit a high of 29 cents on Jan 31.

The corporate development is still in limbo and faces regulatory risk. The maker of bedlinen and towels has been suffering losses since 2008 and was placed on the Singapore Exchange watch-list in 2011. "There have been no updates on the deal and the company has yet to turn around. But it's already trading like a profitable firm," a dealer pointed out.

Ntegrator International shed two cents or 19 per cent to 8.4 cents. The communications network firm said in January that it secured $12 million in new contracts.

Investor favourite Yoma Strategic also came under selling pressure, falling 7.5 cents or 9 per cent to 75.5 cents.

"When these micro stocks fall, they fall very fast. Retail investors are not that nimble to get out and fear grips them. So, some of these counters will have few buyers which precipitates the fall," said remisier Ernest Lim.

The sharp fall in some of these counters could have also been a result of trading curbs from stockbroking houses that require more cash upfront so they can limit their exposure to a single counter. Broker UOB Kay Hian has imposed restricted online trading on 15 stocks, including WE Holdings, according to its website.

anitag@sph.com.sg
Reply
#17
(12-03-2013, 11:13 PM)greengiraffe Wrote: I used simple fibonacci waves as my rough guide to convince myself:

Last peak was 3800 and the low at the bear trough was 1600, total 2200 and add it back to 3800, I arrive at 6000.
Wah, 6000 is ultra optimistic. If charting were that simple i wonder why Japan Nikkei is still low compared to its previous peak decades ago. I cannot convince myself STI will touch 5000 Smile
Reply
#18
Let me try... Just for fun.

STI historical PE is 15.
Current STI 3300 with PE 11X. What value will STI be when PE is 15?

(15/11) * 3300 = 4500.

Given 80% discount, STI will be 3600.



(13-03-2013, 08:36 AM)Bibi Wrote:
(12-03-2013, 11:13 PM)greengiraffe Wrote: I used simple fibonacci waves as my rough guide to convince myself:

Last peak was 3800 and the low at the bear trough was 1600, total 2200 and add it back to 3800, I arrive at 6000.
Wah, 6000 is ultra optimistic. If charting were that simple i wonder why Japan Nikkei is still low compared to its previous peak decades ago. I cannot convince myself STI will touch 5000 Smile
Reply
#19
Forget about the STI or penny stocks, nowadays any "serious stock player" must own a few REITs to show he is a pro. Big Grin

What DPU yield? The pros go for the price appreciation! Tongue
Reply
#20
We need more pessimistic investors. If everyone buying now, who will be buying at STI 3600? STI 6000?

(13-03-2013, 08:36 AM)Bibi Wrote:
(12-03-2013, 11:13 PM)greengiraffe Wrote: I used simple fibonacci waves as my rough guide to convince myself:

Last peak was 3800 and the low at the bear trough was 1600, total 2200 and add it back to 3800, I arrive at 6000.
Wah, 6000 is ultra optimistic. If charting were that simple i wonder why Japan Nikkei is still low compared to its previous peak decades ago. I cannot convince myself STI will touch 5000 Smile
Reply


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