Sunday, April 1, 2007

Oil and Energy Play in Focus

Okay, STI has recovered from 2990 region to its current 3231. Remarkable V formation since the sell down. Last week, we see STI up moving trend while putting aside subprime's woes and increasing crude price. It seems rather clear that STI is not taking que from DJ but from HSI in someway or another last week. But if subprime woes spread much further, it will affect asian's market sentiment sooner or later. Trend formation for STI seems bearish after a recent strong rebound.

Looking ahead, eyes on oil and energy play will be the darling for the upcoming week. On my radar screen will be Tiong Woon and Chemoil.

Any opinion herein is made on a general basis and is not an inducement to trade.

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