1st week of June has seen the STI dropping nearly 100 points from 3392 to a low of 3295. We see this as a tough market condition with high volatility to persist every single day. Trading daily may be volatile and we look set to smoothen the selection process with better TA and Quality counters. Today we see a strong rally in the STRAITS TIMES INDEX blue chips components. Oil price has also seen a major rally today with positive sentiment from OIL PRODUCTION.
A report by industry body the American Petroleum Institute (API) on Tuesday showed a much sharper weekly fall in U.S. crude stocks than expected.
The API report followed a prediction by the U.S. government that domestic oil production would fall more strongly and for longer than expected.
"It would be madness to try and talk bearish," said Tamas Varga, oil analyst at London brokerage PVM Oil Associates(http://finance.yahoo.com/news/oil-prices-rise-u-stock-062126380.html).
Focus will be on MID-CAP stocks for the rest of JUNE 2015. For those following our blog, we are pleased to present a new feature 'OUR SMS CALL TRACKSHEET'.