It has been a rather weak trading session in the past 4 days until the market finally found its bottom that valuation has become cheap. It set the ground for bargain hunters today with the STI showing a gain of 66.66 points to close the month at 2629.11. One of our strong pick this week was DBS BANK leading the blue chips recovery today, we have actively alerted DBS twice this week on expectations that a strong reversal was coming. Today DBS open weakly at $13.53 and show strong momentum to rally to close at a high of $14.06. Other notable stock that perform fairly well include EZRA, EZION and COSCO. We are still cautiously taking a defensive approach to this 2016 BEAR MARKET and keep a tight stop-loss when necessary.
With the CHINESE NEW YEAR fast approaching, market trading will remain light and focus will be on those MID-CAP & PENNY plays with M&A opportunity.
YTD - STI 2882.73 -253.62 -8.7%