STI to test 2,239 low this week

[downgrader]

Now it is just under 2,300. After US stocks failed to rally after the bailout plan approval by Congress, stocks are looking weak all over again.

Following Friday's Dow losses, tightness in interbank markets, further turmoil in Europe, with a hastily cobbled deal to save Hypo worrying the public, sentiment remains very weak.

Sydney is opening 1% lower and resource stocks pressured by oil market weakness amid global slowdown

In Singapore, banks and property counters are the ones to look at. After Tharman said recession will continue over several quarters, more selling will hit the market at 0900.

Woohoohoo

 

[imperialarms]

i want to jump mrt

 

[eeoror88]

i want to jump mrt

Please don't do it during "peak hours" !! Farewell !!

 

[JohnTT]

STI likely to drop to level 2000 on year end. Nowadays you sell on rally or rebound.

 

[The_Latest_H]

Thanks to the bubble created by the PAP in both markets, what went up way too high must fall right down to the depths.

That's how a market reacts when it has reached the maximum size of a bubble economy.