Dacai

My local tech stocks are down today compared to yesterday. Every other day I see this. Just ignore the market noise if the fundamentals are unchanged.

I think 3.4 is a good support level for YZJ. It is best to have a stop loss and have a small sizimg as the sellers seem ro have more control than the buyers.

$Apple(AAPL.US)The price of Apple stock soared 4.77% on 2 July following its announcement of the launch of at least 5 new iphone models between H2 of 2026 and H1 of 2027 and a higher production target of 10 million units for its first foldable iphone. I like the extremely long body of the candlestick but it is not uncommon to traders to take profit shortly after a surge like this so I will watch and see what happens next Mon.

$Suntec Reit(T82U.SG)We have a very nice green candle with a long body today, showing the buyers are in control. KDJ is 68 so not yet overbought. The book value is about $2 so even at this price, it is trading at quite an attractive discount to NAV. More importantly with its prime location, I have confidence the robust MICE pipieline and positive rental reversion will be able to generate more DPU in the months to come so I don’t worry if the price goes down in the short term.

$IFAST(AIY.SG)The price hasn’t filled the gap (grey region) yet and the candlestick today doesn’t look too bad with a fairly long body showing buyers are pushing back against the sellers. There is still some selling pressure as seen in the small wick above the candle. If it can form a higher low, there is a greater chance that it will form a higher high later on.

The market is so volatile right now. Yesterday, my local tech stocks were still doing fine. Today they plunged again. Is it because of the DRAM price fixing class action suit or just a response to the likelihood of interest rate hikes?

SingTel is making good progress with its asset-recycling plan. I’m confident that it can sustain the dividend payout. Btw, the AGM is on 29 July, not 23 July.

$IFAST(AIY.SG)Previously the bullish double bottom met a resistance at $9.41, turning into a bearish double top pattern. Yesterday’s candlestick has a long red body and no tail wick, indicating the sellers are fully in control. I will be watching to see if it continues the pattern of higher low (ie above $8.57) or fills the gap to fall further to the previous support levels of $8.57 and $8.48-8.50.

$Suntec Reit(T82U.SG)Today’s Singapore market was a mixed bag. Suntec Reit went as high as $1.48 (KDJ went above 80, an overbought signal) before retracing to $1.46. The long red body and the long wick above indicates selling pressure is higher than the buying pressure. With interest rates expected to be hiked, I think it will still trade within a range with $1.39-1.4 as a support.

Strategy doing share buyback after prolonged decline in share price shows betting on crypto isn’t always a sure-win. I have avoided crypto as it is not backed by any real assets. Those who got in crypto early may have made it big but those who got in later appear to be the bag holders.

The market is always forward looking and I feel it is overreacting to the worries about capex spending. I expect there will be another wave up later on.

$Suntec Reit(T82U.SG)Wow, today was a super red day for most of the stocks in SGX, save for a few like $CapitaLand IntegratedCommercial Trust NRO(C38UNRO.SG) and Suntec Reit. Suntec Reit closed the week on a strong note at 1.46. Other stock markets also suffered the rout. It seems like the sell-off from tech stocks has sparked widespread profit taking. Will there be further bad news over the weekend? I am not going to panic sell as I continue to have faith in the good fundamentals of the stocks I hold. Investment is for the long term and time in the market beats timing the market.

I have faith in Apple. Even if it raises prices, it still has moat and pricing power that will protect its margin.

$Suntec Reit(T82U.SG)It’s nice to see that Suntec Reit is holding up on the second day of decline for semiconductors and memory chips. It brings home once again the message not to have everything in one basket. Many sectors like finance, semiconductors and reits are cyclical. It is good to diversify the type of sectors and type of assets (equities vs bonds/T-bills) in the portfolio so as to counter the effect of money rotating out of a sector into other sectors.

The worry about capex spending has come up before. I don’t think it is the end of the road yet for semiconductors and memory chips.

While memory chip stocks in the US like Micron and Sandisk are moving up in price, local semiconductor stocks like UMS and Frencken are taking a hit today. Not sure why.