V3Go Outlook on the STI today: Commodities related stocks may rise
Posted by admin in Commodities, Market Analysis, Stock PickGood Morning Everyone,
Today we start work, after the long holiday and with the Dow logged in their best day in about 3 months, regional stock markets are expected to trade higher. The weaker dollar boosted commodities stocks while the better-than-expected manufacturing report and some decent earnings also helped. The DJIA rose 169points while S&P and Nasdaq rose 1.8% and 1.4%, respectively. As forecasted last night, the Crude Oil rose and closed above US$77 while Gold also marched up and topped US$1120 an ounce.
As forecasted last week, I mentioned that the STI should face some resistance at 2764 level and indeed, last Friday, it hit a high of 2766 before closing at 2758. For today, I expect the STI to open around 2785~2798 level. The key level to watch will still be 2764. As long as it stay above this figure, the STI may challenge back the 2906 level in the next 2months of trade.
I am looking at Commodities related stocks to open higher and my humble advice; one should lock in more profits from the Long positions that we established since early last week. In trading, I always preach and follow this pretty good WINNING Stratregy; it is always good to LOAD good stocks when no one wants it due to fear and ignorance and UNLOAD when everyone return to any stocks due to greed and hope.
If I spot any good stocks, I will share them over here but if not, for people who are still holding MIDAS and Ezra, do book some partial profit this morning on market strength.
Cheers!
Nothing is 100% but as long as you know how to self-manage your money management on your trades, all risk can be taken care of.
May you make more money form the market.
Disclaimer apply as usual.
Kelvin Han
aka Trend Master
Originator of V3Go Mentoring Program
Entries (RSS)