SGX Market is heading for correction again!

It seems that SGX Market is heading for correction again after some weak showing over the last 2 sessions. The major news is that DBS is raising fund again. This time, a total of S$4 billion. This is huge number by Singapore standard. It is equivalent to about S$900 per resident or S$2,700 per working adult assuming 1 in 3 in the population is working. In a weak market like this, a rush to raise capital is something worrying to me. I think the share price will move lower to even below $9 prior to adjustment or below $8 after adjustment. This is just based on gut feeling. No concrete calculation is done.

Note: Sold Capitaland at $3.18 yesterday in the early afternoon after looking at the market during the lunch hour. Took profit of $0.62 per share (24%). Based on my WOOTH, the good and safe entry price should be $2.40. However, this counter is strongly supported and the largest counter in property sector (as in SingTel), it commands some additional premium (I guess). You see very strong support at S$2.50 ~ S$2.60 level. So, entering around that level is quite safe.

Missed out NOL when it was $1.28~$1.32. Was not able to sell due to work commitment and not watching closely enough. Seems like Weekend Trading method is not easy. However, still holding on to the paper gain of S$0.12 per share instead of S$0.30 per share. I hesitated earlier and it when down, boom, boom, boom.

Current holdings:

STOCK NAME	AVE COST PRICE	LAST DONE PRICE	+/-	+/-%
COMFORTDELGRO	1.49	1.38	-0.11	-7.38
NOL LTD	1.04	1.16	0.12	11.54
SING TEL	2.3	2.55	0.25	10.87
ST ENGG	3.18	2.29	-0.89	-27.9

NOTE: I had to batches of SingTel. First batch was bought at 3.67 and second at 2.30 with equal volume. I sold half at 2.48. The system uses FIFO, so it assume I sold off the first batch and took a loss of 1.19 (heavy losses). Actually, I meant to treat the 2.30 batch as short term trade.