The market has been behaving somewhat cynically for the past months. Beginning of this year 2012, there was a relentless rally. Many people had this notion that they are different and very accurate in choosing which stocks to invest in. This is especially so for the day-trader, the contra trader. The problem is that, you close your eyes and pick any stocks in the top volume, you would probably make a lot of money.
However, in Mar 12, the same investor would probably lost all his or her profit from the earlier rally, chances are, the losses are usually more than what the had made. In Singapore Stock Market, you would probably notice or see multi-bagger like IEV, Yoma, Sin Heng and UPP. These are the stocks that could made you rich, for awhile that is.
If you are a careful person who can read trend, you will beginning to understand that STI does not really follows the closing of DJIA (Dow Jones Industrial Average). Instead, it follows more on Dow Jones's Futures and 11 am, the HSI (Hong Kong - Hang Sheng Index).
STX OSV is being seen as a take-over target. But this news was never officially made. Just lingering rumor that sparks the interest for day-trader. This is a very good money-making day trade stock if you are able to time it well.
STX OSV on 13 Jun 12 seen its high at 1.475 but ended at 1.45 due to the declined in the Futures of DJIA.
I personally feel that STX OSV has bounced from its double bottom (Head and Shoulder) with reference to the previous low of 1.3 region. It is vastly oversold. The selling at the end suggest that there are a large number of uncovered shorts in this stocks. If DJI do not fall or rise too much, end mixed, STX OSV should probably touch 1.5 region by 14 Jun 12.
The above are personal opinion and this is never an inducement to trade.