Since 3 June 2008, the local FTSE ST Indices, led by Straits Times Index have been mired in a declining trend.
On one hand, the market slump has evaporated billions of dollars of market capitalisation, yet the cheap valuation has presented unlimited opportunities for long term investors.
Dr. Elder developed his trading system many years ago and still trades the same basic system – The Triple Screen. He only improvises and fine-tunes his system from time to time to suit current market changes.
Global stock markets took a heavy beating when US lawmakers passed the US$850 billion rescue package.
Despite the US Congress’ recent approval of a mammoth US$700b bailout package, global stock markets continued their rapid descent.
After much deliberation and haggling, the US Congress has finally passed a revised US$700b financial bailout plan.
Hyflux Water Trust (HWT) have been in negotiations to obtain funding to finance the acquisition of the first tranche of 9 assets from sponsor Hyflux, which deteriorating credit conditions may render unviable.
We are now suffering from a loss of confidence in the market and unless sentiment improves from now till the time Americans vote, we are unlikely to see a post-election rally in the US market.
