But in Singapore, there are no signs of a correction yet:
1) Leading stocks for this rally show no problems, their pullbacks are all on low vol. The leading stocks are the ones which broke out earliest on high vol, or which ignored the Sept-Nov consolidation period and have been in an uptrend since March. Some are:
- High end property developers (Wheelock, Wing Tai, SC global, KepLand).
- SIA Eng, mabye SIA.
- Noble, Straits Asia
- Suntec REIT, Frasers Centerpoint trust
3) Stocks are suddenly shooting up on massive volume in a single day.
There is no time to look at support and resistance on charts, wait for pullbacks and buy. Have to buy before the stock moves. Just throw money at the bull and hope something sticks.
Amazing how fast everything has changed.