Recession - Now It Is Official

Recession, now it is official that Singapore has entered into a recession with 2 consecutive quarters of negative GDP growth.

The stock market is terrible. It is like a tape rewind to the Asia Financial Crisis days back in 1997/98. Share prices are plunging, but the prices now are still not as low as 1997/98 levels yet. So you figure, is it time to bottom fish? Mmmh, better do your homework, otherwise you may be fishing at the wrong time.

According to some analyst's report, next support for STI is 1800, then followed by 1500, then 1400 is the 161.8% retracement level based on the Fibonacci analysis.

Foreign banks are failing one by one from US to Belgium to Iceland, to UK. Globalisation is good, it brings business to the whole world; and it drags everybody down too when there is a screw-up. Singapore banks are also sold down drastically, with all the preference shares trading at discount to its liquidation value.