Only banks and Semcorp are showing new break outs recently. The other stocks are all showing signs of lethargy. Let's look at these charts:
There has been a lot of hope that STI will hit 3000 before this year end and many people are waiting to sell off their holding during that stage. Looking at this scenario, that might not be possible if the trend continues. Even though STI has finally broken off to the upper side from the range over the last few months, it is still to early to conclude that it is going to go up all the way.
My view is that even though in terms of GDP, the recession is technically over, but, the recovery is rather weak with job loss still looming over our head. I have no taken a good look at the make ups of the GDP number. It seems that we are having a lot of internal consumptions particularly from the real estate market. These are not productive activities. I am going to wait and see. Even though this means that I am going to miss the bull run. I think at my age, safe play prevails.
