There was a slight doubt about the BULL when the Dow fell below its 12,845 level and suggested a Dow Theory Sell signal. However, it has rebounded sharp for the past couple of days. Wall St posted the biggest two-day rally in five years, led by financial shares, after Federal
Reserve Vice Chairman Donald Kohn buttressed expectations for another interest rate cut. The Dow rallied 331pts while S&P500 added 40pts. European shares also rallied the most in 4 1/2 years.
Two days ago, I posted that there could be a possible bottom for the STI. And I believe that this rally on Wall St could kick start the new rally in stocks over in Spore. Investors looking for fundamental stock ought to look at the property and construction sector. Stocks like Tat Hong for construction and Hobee, Capitaland, and Wing Tai for property. Sesdaq counters also look attractive now. Alantac is interesting now.
Malaysian stocks to look at - the foreign Call warrants look very attractive. HSI-C1, SInopec-Cs, and CNOOC-C1.. These are looking attractive even though they expire soon. The underlying shares listed in HK looks very interesting too. Hence, any movement in the underlying would probably lead to higher price here in the Call Warrants.
Currrent levels are good levels to get in - trading wise. Buy now..
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2 comments:
SS, I missed the train this morning and HSI-C1 already went up so much compared to Tuesday's low of 0.68! Actually what is the fair value of C1, C2 & C3? So far I've been closely monitoring these counters but I do not have any clue of their fair values. Hence, I didn't 'dare' to go in yesterday or Tuesday. Any advice?
Surewin
Actually I do not have the fair values for all 3. I actually base the run on the Hang Seng itself. I think Hang Seng should be able to reach 29,400 first. That should roughly translate to about RM1.22, RM0.165 and RM0.255 respectively.
Of course, it can also go above those figures in a bull market like this :)
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