SGX market

US mkt dropped on high vol Friday (possibly due to options expiration), following a similar high vol drop on Tues. Maybe going back to a pattern of higher highs on low vol. Having risen since Mar, it is overdue for a correction. This gives a cautious undertone.

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

2) Friday's top 20 vol shows only 6 out of 20 stocks below 20c. Still seems ok, we do not see too many pennies around the sub 5c level (eg: Jade).

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.