24 OCT 2017 THE WEAK BULL FINALLY RAN OUT OF STEAM AND PENNY COUNTERS CONTINUED WITH IT'S RETREAT
Today, the ST Index down 15.13 points to close at 3,334.67 and the Trading Volume of Pennies in the Top Twenty Counters has shrunk to alarming level and mostly churned up by sellers. Penny counters occupied 12 of the Top Twenty Counters with 5 counters closing positive, 3 counters holding steady and the remaining counters closed in the red.
Currently, the following penny counters are in the Top Twenty List $Nico Steel^(5GF.SI) , $Rowsley^(A50.SI), $DISA(532.SI), $KrisEnergy(SK3.SI), $KOP(5I1.SI) , $QT Vascular(5I0.SI) , $Magnus Energy(41S.SI) , $Raffles Edu(NR7.SI) , $Hu An Cable(KI3.SI) , $Sincap(5UN.SI) , $Moya Asia(5WE.SI) , $Swee Hong(QF6.SI)
Today, no counter traded more than 100,000 lots, only one counter traded around 82,572 lots and the remaining counters traded in a range of 10,000 to 37,000 lots. Penny counter’s performance today was very weak as there was no buying interest at all. Taking top spot in today’s trading was $Nico Steel^(5GF.SI) with a trading volume of 82,672 lots to close down 0.004 at 0.007. $Rowsley^(A50.SI) came in second with a trading volume of 37,096 lots to close flat at 0.129. $DISA(532.SI) came in third with a trading volume of 19,243 lots up 0.002 to close at 0.013, $Moya Asia(5WE.SI) was sold down to 0.098 with a trading volume of 11,636 lots,
The overall market sentiment for penny counters has turned weak and losing momentum. Currently market seems to have shifted to trade in small caps below $1.00 counters and today property counters were in play, $Lian Beng(L03.SI) , $Heeton(5DP.SI) , $Oxley(5UX.SI) and $Chip Eng Seng(C29.SI) all did well to close with positive gains
What can we expect to see in the market tomorrow???
Will the Bull recover some lost ground or will the Market continue to pull back and start drifting lower or Crash as many have expected???