Saturday, February 23, 2008

US Market Summary 22 Feb 08

Dow 12,381.02 +96.72 +0.79%
Nasdaq 2,303.35 +3.57 +0.16%
S&P 500 1,353.11 +10.58 +0.79%

Wall Street staged a dramatic turnaround Friday, shooting higher in the last half-hour of trading after word that a bailout plan for troubled bond insurer Ambac Financial could be announced next week.

This is really a dramatic turnaround as the last 30 min saw a steep rise from the charts. I'm betting on the actual rally of the STI market next week as the news of Singapore hosting 2010 Youth Olympics will take effect.
Property and Hotel stocks will be in play, so look out for stocks like Yongnam, Wee Hur and Koh Bros.
I will post some stock picks soon.

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