Today we see some profit-taking in the Blue Chips components causing the STI to drop 39 points to 3072. The drag was lead by OCBC profit missing expectations and we feel the rest of the market is only beginning to catch up with the rest of the blue chips components. Profiting-taking today seem to be healthy and not causing panic to the mid-cap and penny space. Today Mid-cap is led by NOBLE GROUP with its strong positive news regarding SINOCHEM. We are focusing on OIL&GAS plays and M&A opportunity among penny counters.
The penny space and mid-cap opportunity is bright ahead and we look forward to another day of action finding good opportunity. Stay Tune as we unlock another day.