Friday, 15 March 2013

MID-DAY MARKET OUTLOOK 15 MARCH 2013

Continued improvement in jobless claims has bolstered sentiment as US equities advanced on Thursday. The market has once again proven that the bull is intact. The market is strong and ready to rally higher in the coming sessions. 

In the afternoon session, the Straits Time Index(STI) has just broken past the physiological 3300 points. Major Asian in-dices is also tracking the gain higher. It is seen as a bullish sign for the market to go higher in the next few trading sessions. Penny stocks like SingHaiYi, Cedar and Carriernet have been distributed heavily at the top and we advocate caution on it. Penny stocks we will be watching closely to it on potential breakout. Stay on the sidelines for the time-being.

Now the market is looking out for potential M&A values trap plays. We are bullish on potential undervalued stock such as UE C&C which could see their stock price rally in the coming sessions. On the US markets, DJIA climbed 0.6% to 14,539.14 while the S&P climbed 0.6% to 1,563.23.


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