Market Summary (20th Nov - 24th Nov)

2017-11-24:
STI rebounded well after SSE stabilized with more gainers than losers (243 vs 172). Yet, it is still too early to see where it will head next week since broad sentiments are mainly dependent on US and China; and local BBs are only willing to pump $ into few hot stocks. It is no longer a trending market here but a rather volatile ranging market based on the performance of last few weeks.

Stocks	Prev Close	Open	Close	High	Low	+/-	+/- (%)	Value
COSCO	0.47	0.465	0.535	0.54	0.455	0.065	13.83%	32.0mil
Compact Metal	0.04	0.04	0.047	0.048	0.04	0.007	17.50%	0.9mil
Asiaphos	0.103	0.097	0.088	0.097	0.083	-0.015	-14.60%	1.5mil
Noble	0.185	0.185	0.168	0.186	0.167	-0.017	-9.19%	1.4mil
DBS	24.62	24.62	25	25	24.6	0.38	1.54%	59.6mil
ThaiBev	0.94	0.95	0.97	0.98	0.945	0.03	3.19%	28.7mil

COSCO led the strong rebound in the afternoon after absorbing the last attack in the morning, squeezing the short selling's side the other way. Compact Metal, on the way, only had one way ticket up. 

Asiaphos's price plunged after announcement that they might lose all their mining licenses as local authority looks to vacate and rehabilitate those sites. I looked at this stock sometime back when I thought they are selling Vietnamese phos and then I found that they are simply in a tough mining business with risks of earthquake, and low margin. Just take a look at phosphate's price and you will understand. It's really a pity for the business to encounter such a seemingly final blow from outside after struggling for so many years.

Noble continued its demise after recent news, pointing towards the final closure.

Meanwhile, DBS continued to break all-time high and closed at 25 today. Their recent bull run for the past 2 months was fantastic as compared to other banks, pushing its valuation (P/B, P/E) one notch higher than local peers. And they said DBS is the most affected by O&G bad loans yeah? 

Thai Bev, was the other blue chips that carried the STI, rose 3% after posted 38.5% y-o-y profit increase. 

2017-11-23:
Well, well, well. So it was announced today that Singapore economy grows 5.2% in Q3, fastest in nearly 4 years; but China stocks tumbled 3% and suffered worst sell-off in 17 months. STI only dropped 0.2%, in sharp contrast to the sell-off in all other stocks. Total 311 stocks fell today and it was one of the highest number in recent period.

Stocks	Prev Close	Open	Close	High	Low	+/-	+/- (%)	Value
COSCO	0.53	0.525	0.47	0.53	0.465	-0.06	-11.32%	21.6mil
Jiutian Chemical	0.081	0.081	0.074	0.081	0.073	-0.007	-8.64%	4.0mil
Allied Tech	0.072	0.073	0.067	0.073	0.066	-0.005	-6.94%	5.2mil
Chasen	0.086	0.084	0.081	0.084	0.078	-0.005	-5.80%	0.2mil
Vashion Grp	0.018	0.017	0.021	0.021	0.015	0.003	16.70%	28k
Midas	0.178	0.177	0.154	0.177	0.152	-0.024	-13.48%	5.4mil
BlackGoldNatural	0.101	0.1	0.095	0.102	0.095	-0.006	-5.90%	1.0mil
Valuetronics	0.99	0.99	0.93	0.99	0.925	-0.06	-6.00%	6.1mil
Pan Hong	0.385	0.39	0.34	0.39	0.335	-0.045	-11.69%	0.4mil
RE&S Holding	0.31	0.32	0.295	0.32	0.29	-0.015	-4.84%	0.5mil
KOP	0.088	0.09	0.093	0.095	0.09	0.005	5.68%	1.6mil
Geo Energy Res	0.265	0.27	0.27	0.275	0.265	0.005	1.89%	1.0mil
SingShipping	0.285	0.29	0.3	0.3	0.29	0.015	5.26%	0.2mil
POSH	0.335	0.335	0.34	0.34	0.335	0.005	1.49%	83k

The trio (COSCO, Jiutian, Allied Tech) that had almost the last sprint to peak on 2017-11-13, fell together this time, on heavy profit taking and loss cutting. Some attributed the 'unusual' tumbling of COSCO and Jiutian Chemical to the China stocks sell-off since they are S-chip, but this lazy logic can't be substantiated by just simply looking at how other S-chips like YZJ, Yanlord, China Sunsine fared. They fell because they are all speculative bulls fueled by massive speculative money. 

Almost all pennies tumbled as well, especially those that had previously been pumped. Even pennies like Chasen and Ausgroup who are at the rock bottom dropped further. 

    - Abundance Intl : -14.9%
    - QT Vascular : -14.3%
    - Hoe Leong: -12.5%
    - Compact Metal : -11.1%
    - Mercurius : -10.2%
    - The Place Holding: -10.9%
    - Jubilee Ind: -9.6%
    - Anchor Resources : -8.9% 

    - Ziwo: -8.7%
    - Vallianz: -6.7%
    - Interra Resources: -6%
    - ASTI : -6.0%
    - Dragon : -7.5%

    - Chasen: -5.8%
    - Rex Intl: - 5.5%
    - FJ Benjamin: -5.7%
    - Sen Yue : -5.2%

    - Swee Hong : -5.9%

    - Jadason: -5.1%
    - Ley Choon: -5.1%
    - Ausgroup: -2.6%

Among them, Vashion group is the rare penny that built on yesterday's run. And even rarer, there was a new penny (Forise Intl) in play today, despite the red ocean. 

Midas dived another 13% perhaps after the announcement of extension of maturity date of fixed rate note, in addition to negative sentiments caused by China's alleged curb on infrastructural spending. And BlackGoldNatural dropped 6% without any clear cause. 

Valuetronics, perhaps surprisingly, was knocked down 6% after seeing large quantity dumping in the morning. Pull out from an institutional fund most likely. Pan Hong shares plummeted 12%, on the nose diving of Sino Harbour shares (-24.7%). So Sino Harbour recent's rise was fueled by speculation as well. Not a good thing. Though at current price, Pan Hong is still a bargain, but risks has increased substantially. RE&S, unfortunately to have encountered mass dumping day on its 2nd day of debut, could only went south.

But interestingly, among the red ocean, some stocks rose instead. First was Geo Energy Resource, which get bashed last few days for giving out interim dividend (really?), where people rushed to buy in on the last day before XD. Second was KOP, which was buoyed by shares buying from Popiah King Goi Seng Hui yesterday. Some shipping companies like SingShipping and POSH rose on small volume as well, which is really intriguing to me. 

2017-11-22:With HSI breaking 30,000 resistance jubilantly, STI was still stucked below 3,500, crawled up by a mere 6.64 point. And that was carried mostly by DBS, which signaled that sentiment here was still pretty weak.

Stocks	Prev Close	Open	Close	High	Low	+/-	+/- (%)	Value
Datapulse Tech	0.38	0.38	0.43	0.495	0.38	0.05	13.16%	44.2mil
The Place Holding	0.04	0.043	0.046	0.059	0.043	0.006	15.00%	3.5mil
Vashion	0.014	0.015	0.018	0.029	0.015	0.004	28.60%	0.2mil
Ziwo	0.021	0.021	0.023	0.026	0.021	0.002	9.52%	0.8mil
LifeBrandz Ltd	0.055	0.058	0.044	0.06	0.044	-0.011	-20.00%	2.1mil
Hoe Leong	0.051	0.054	0.045	0.06	0.048	-0.003	-5.89%	1.8mil
SHC Capital Asia	0.058	0.059	0.044	0.059	0.044	-0.014	-24.14%	21k
Midas	0.193	0.193	0.178	0.195	0.175	-0.015	-7.77%	2.9mil
Compact Metal	0.05	0.049	0.045	0.049	0.043	-0.005	-10.00%	0.5mil
Sunright	0.815	0.82	0.875	0.89	0.82	0.06	7.36%	0.9mil
Golden Energy	0.395	0.4	0.42	0.42	0.4	0.025	6.32%	0.2mil
RE&S Hld	0.22 (IPO)	0.355	0.31	0.365	0.31			5.6mil

There was no new rocket penny today, although there were few new ones came into the rotation; but most of them had been shot down from their daily high, like:

- Datapulse Tech (Close 0.43 as compared to High 0.495, retracted 13%)

- The Place Holding (Close 0.046 as compared to High 0.059, retracted 22%)

- Vashion (Close 0.018 as compared to High 0.029, retracted 38%)

I believed most traders who entered today lose money to operators since most bought at a much higher price than closing price. Datapulse Tech is an interesting one as there was a married deal of 63mil shares @ $0.55 (which represents about 29% share of the company). In conjunction with CEO sold off 22.3% of shares on 10th Nov for $0.55 via married deal, a new substantial shareholder should emerge soon. Let's see what news will be unveiled in the near future.

Yesterday's rockets was shot down today, with LifeBrandz slid 20%, Hoe Leong dropped 6% and SHC Capital Asia tumbled 24%. Compact Metal continued sliding with CEO continued dumping his shares. A pump and dump orchestrated by CEO?

Midas dropped 8% to a new low, with no foreseeable support. Peoples who hope for its turnaround are feeling more and more despair with the company perhaps. Sunright and Golden Energy, on the other hand, gained 7% and 6% randomly without any catalyst.  

The newly listed IPO, RE&S Holding, opened 61% higher, which gave lucky flippers an instant huge profits. Wondered who were on the receiving's end? The share price may continue its long way down and may never reach this height in a long period. 

2017-11-21:STI was in a bullish mode where most of the blue chips rose, led by bank stocks. It wasn't so rosy for penny stocks as most get dumped and gave way to the newer pennies in play. It seems the cycle of pump and dump has turned faster.

Stocks	Prev Close	Open	Close	+/-	+/- (%)	Value
Hoe Leong	0.034	0.036	0.051	0.017	50.00%	3.1mil
FJ Benjamin	0.069	0.078	0.094	0.025	36.20%	3.3mil
LifeBrandz Ltd	0.029	0.032	0.055	0.026	89.66%	1.4mil
SHC Capital Asia	0.034	0.04	0.024	0.058	70.59%	0.1mil
Jubilee Ind	0.045	0.047	0.05	0.005	11.11%	0.8mil
Allied Tech	0.076	0.077	0.072	-0.004	-5.26%	6.5mil
Sen Yue	0.045	0.046	0.041	-0.004	-8.89%	0.9mil
Sincap	0.024	0.024	0.022	-0.02	-8.33%	0.8mil
CSC	0.035	0.036	0.033	-0.002	-5.71%	0.3mil
P5 Capital	0.03	0.03	0.028	-0.002	-6.67%	0.2mil
Capital World	0.091	0.09	0.086	-0.004	-4.44%	0.5mil
Best World	1.23	1.24	1.3	0.07	5.69%	10.2mil
Indofood Agri	0.44	0.44	0.42	-0.02	-4.54%	1.3mil

Hoe Leong continue the bullishness yesterday and rose another 50%, which gives a whopping 180% in 2 days. It's pure "huatness" or madness. New pennies lke FJ Benjamin, LifeBrandz Ltd and SHC Capital Asia also comes into play, with different degree of "huatness". Jubilee Industries, which had just issued new placement shares not long ago, up 11%. 

On the other hand, most has-been pennies like Allied Tech, Sen Yue were falling slowly (as compared to the rising speed). Those stocks that people have speculated based on TA to have great chance to be another rocket penny like Sincap and CSC fell. But I can understand the euphoria in catching the next rocket penny, since if you can catch one lucky, you can afford to fail 9 times of such play with proper stop loss. P5 Capital dropped one day after rising, while capital world had the biggest slide in weeks, most likely due to contra selling on T+5.

For mid caps, best world was played up by BB again after they have collected enough and rose 5.7%; while Indofood Agri suffered again and dropped 4.5% further after poor results last month.

I feel that more and more investors (not traders) are staying sideline, so perhaps the market is being driven mainly by speculative force nowadays. I foresee my portfolio will sink to red soon as most of my stocks are sliding lower, so I can only hold the fort now and wait for businesses to blossom or turnaround. 

2017-11-20:I am surprised that STI closed in green despite weak sentiment. I wonder did I stand a chance to take profit before December as I what have planned in previous post, or the correction have actually began  in a slow manner.

Stocks	Prev Close	Open	Close	+/-	+/- (%)	Value
Compact Metal	0.059	0.061	0.051	-0.008	-13.60%	2.2mil
COSCO	0.575	0.575	0.555	-0.02	-3.48%	9.8mil
Hoe Leong	0.018	0.021	0.034	0.016	88.89%	1.7mil
P5 Capital	0.027	0.028	0.03	0.003	11.11%	1.0mil
Yoma Strategic	0.52	0.52	0.485	-0.035	-6.73%	9.0mil
Alliance Mineral	0.365	0.36	0.345	-0.02	-5.48%	4.9mil
BlackgoldNatural	0.112	0.112	0.105	-0.007	-6.25%	1.9mil
Trendlines	0.152	0.152	0.146	-0.006	-3.95%	1.1mil
CapitaComTrust	1.85	1.86	1.91	0.06	3.24%	29.7mil

So the new metallic bull of last week and the bull ship of COSCO have both fallen, with Compact Metal opened with a gap up and turned into a gnawing bear within a day. But all these previous bulls have no match against the rise of a new super bull, Hoe Leong, which charged up 88.89% upon mixture of news. Some said the price is pushed up to issue shares for creditors to convert the debt to shares. The market is really full of interesting actions, and why is this price action not queried by SGX?

P5 Capital (formerly Sunlight) also rose 11% to $0.03 given that its NAV is around there after disposing its assets. Some has spotted the bargain sometimes back, so perhaps it's a little surprise that the price only goes up now. 

But overall market's sentiment is weak and a lot of selling occurred. Alliance Mineral dropped 5% after announced that it didn't receive $5.1mil for the fourth tranche of subscription shares (17.9mil shares) on the day itself (Nov 7), but at a much later date (Nov 16). A CFO will be appointed by Nov 22. If such reaction is normal, then you must wonder why Blackgoldnatural dropped 6% after announced that the construction of its new jetty has been completed. And why Trendlines continued sliding despite good news announced weeks earlier? It's a pretty tough time for small cap due to whatever reasons: weak sentiment, BB' play, contra selling, shortist's work, etc...

Maybe in view of turbulent times ahead, BBs prefer to hold blue chips instead, and hence CapitaComTrust continued its soaring run after rights issue, and carried STI for the day. The more it runs up, the more it reminds myself of making a bad sell call.