Categories
STI

Singapore banks in bearish territories.

All 3 Singapore banks (UOB, DBS, OCBC) are in bearish territories in the Ichimoku charts.

If Singapore is a financial hub and the banking stocks is a reflection of the economy, then the charts are clearly showing the significant resistance ahead.

I expect tough times ahead in 2012.

 

 

 

UOB with support at $16.85 and resistance at $17.21

 

 

 

OCBC with support at $8.03 and resistance at $8.28

 

 

 

DBS with support at $11.77 and resistance at $12.21

Categories
Bond

$TLT . 110 PUT.

 

I believed TLT is overbought in the short term.

Looking at the parabolic rise and that it may break the support, I have a speculative Sept 110 PUT on TLT.

My bet is that it will break support within 1 week.

However, given the volatile market conditions and the bigger economic concerns from Europe, Libya etc, I am keeping a close watch on it with a tight stop lost in place.

Note: This is a speculative move on my part. There is no confirmation from the chart that TLT has turned bearish.