SGX - index dropped 45 points

hahaha at one point in the afternoon, it went down to 60+ points. And the US futures also went down to 120 points as compared to the Singapore's close at 5pm which show only 95 points.

Tomorrow will be another "down" day for the markets everywhere, as we are living in a global market. The problem is whether "how much is the drop in US tonight?" Then the same will happen here in Asia.

For the present drop...the blame is back to sub-prime and if the last one in August is any guide then we can see the market dropping for the next couple of days. With the holiday on Thursday....then, next Monday is a better bet for the market to stablise. Still...there will be some stocks going "up and down".

My pick for the local ones...mainly from Construction sector will be Yongnam ( below 33 cents ), Chip Eng Seng ( below 58 cents ) and Hiap Seng ( below 66 cents ).

The heavy weight ones shall be STX PO ( below 3.50 ) and Olam ( below 3.00 ).

The China ones then the ones shall be Synear ( below 1.90 ), China Energy ( below 1.10 ), China Fish ( below 1.88 ), YangZiliang ( below 1.90 ), China Sky ( below 2.00 ), China XLX ( below 1.00 ), China Sun ( below 50 cents ) and Pine Agritech ( below 43 cents ). For China stocks.....it is wise to stay out for the moment becoz of all the different views and ideas coming out of Bejing esp with the QII funds which can invest in oversea China stocks. One victim of this rumour is Hong kong market today...down by 5% or 1500+ points.

With the bloodbath in Asia the whole day....these prices are being "narrow" and the gaps/my targets are achievable so I must stay very calm and patient hahaha. All these remind me....of "fishing".

My advise is still be invest in Index shares....better and faster reaction when the market corrects upwards.