Currently I have invested in Schroder Singapore Trust Cl A, an unit trust that invests mainly in Singapore Equities. You will probably be wondering, why buy during this period where the markets are so volatile due to so many factors like Portugal, weak China PMI, Fed easing of tapering etc.
STI has fallen from its high of close to 3,421 points to the current state of around 3,100 - 3,133 and holding pretty well against the 3,100 mark. I think that this correction of around 8% is pretty much a healthy re-adjustment and we may see a slight consolidation during this period. There are quite a number of reports that actually indicated that STI may break down and reach all the way to 2,800 but my take is the support at 3,100 is pretty strong as it bounced off a couple of times from there.
Looking at the US markets as well, it has been rebounding off the 15,000 mark, trading within range and there are signs that US as a whole is truely recovering since 2007/2008.
While I have avoided HK markets for this period of time, it seems that HK is heavily tagged to the China market which suffered a heavy beating for the past few months.
Showing posts with label trading positions. Show all posts
Showing posts with label trading positions. Show all posts
P&L for 2013 1st Qtr
P&L for Qtr one in 2013, though March is not over yet but more or less the positions are in place.
Currently the portfolio is down around $449.62 (-0.12%) and currently looking at the market conditions, it seems that US markets has risen to a close of 10% for Dow and Europe has been touching new highs prior to the Cyprus issue. However, Asian markets seem to be hammered everyday especially Hong Kong and China.
What we are anticipating now is the hot money to flow back to Asia once the interest in US and Europe dies off.
Currently the portfolio is down around $449.62 (-0.12%) and currently looking at the market conditions, it seems that US markets has risen to a close of 10% for Dow and Europe has been touching new highs prior to the Cyprus issue. However, Asian markets seem to be hammered everyday especially Hong Kong and China.
What we are anticipating now is the hot money to flow back to Asia once the interest in US and Europe dies off.
P&L for 2012
Kinda busy for the past 3 months.. As everyone knows, whoever is working in the bank is pretty much suffering from all sorts of attacks, especially if you are in a foreign bank. Let me post our P&L for 2012 - pretty good for what we have done so far with an increase of almost 33%!
It was a pretty good bull run for Hong Kong counters and we caught the ride. Unfortunately for 2013 YTD, Hong Kong is undergoing a heavy re-consolidation and not performing so well compared to US. I will be posting the 1st Qtr results soon. Watch out!
It was a pretty good bull run for Hong Kong counters and we caught the ride. Unfortunately for 2013 YTD, Hong Kong is undergoing a heavy re-consolidation and not performing so well compared to US. I will be posting the 1st Qtr results soon. Watch out!
Been a while..
since i posted due to the busy work schedule and volatility of the markets recently.. Started 2013 pretty well but Feb does not seem to be a good month...
2689.HK
Did you sell yours? Hit our target price on Monday!
Quite busy with work these few days, but will still try to post quick responses about the market! Another counter we are looking into is 0489.HK!
Quite busy with work these few days, but will still try to post quick responses about the market! Another counter we are looking into is 0489.HK!
2689.HK
As we did some coverage on some HK stocks, we have opened a position in 2689.HK as mentioned earlier in the week.
Previous coverage: Hong Kong stocks
As markets seem to be less optimistic after QE3 has been announced, China has been in the limelight with no expansion (luckily with no contraction) on their manufacturing numbers. It is widely acknowledged that China has to grow at least above 50 PMI to show sustainable results but it has been below 50 (ranging around 46-48) over the past 9 months and SSE is at its 4 years all time low (comparable to 2009's financial crisis).
Nevertheless, HSI has shown pretty strong resilience against the figures from China but it's not showing big movements for penny stocks like 2689.HK. Looking at the charts below:
Trending in between $3.82 - $4.30 for the past 1 week, it didn't had an opportunity to actually break above $4.40 and the 100d MA is showing good resistance for breakout (it touched on 21 Sept). Looking at the stochastics, it is still on the high band and looks like more of a upward movement and notice the 20MA which is going near to the 50MA which signals a potential breakout as well.
Our target price for this counter is at $4.60 - $4.65 depending on market sentiments and cut price at $3.75.
Your thoughts?
Previous coverage: Hong Kong stocks
As markets seem to be less optimistic after QE3 has been announced, China has been in the limelight with no expansion (luckily with no contraction) on their manufacturing numbers. It is widely acknowledged that China has to grow at least above 50 PMI to show sustainable results but it has been below 50 (ranging around 46-48) over the past 9 months and SSE is at its 4 years all time low (comparable to 2009's financial crisis).
Nevertheless, HSI has shown pretty strong resilience against the figures from China but it's not showing big movements for penny stocks like 2689.HK. Looking at the charts below:
Trending in between $3.82 - $4.30 for the past 1 week, it didn't had an opportunity to actually break above $4.40 and the 100d MA is showing good resistance for breakout (it touched on 21 Sept). Looking at the stochastics, it is still on the high band and looks like more of a upward movement and notice the 20MA which is going near to the 50MA which signals a potential breakout as well.
Our target price for this counter is at $4.60 - $4.65 depending on market sentiments and cut price at $3.75.
Your thoughts?
Our positions so far...
Here is just a review of our positions so far from Aug:
Singapore positions:
YangZiJiang: B@$1.03, S@$1.005 (down 2.42%)
IEV: B@$0.565, S@$0.5575 (down 1.32%)
CNMC: B@$0.345, C@$0.365 (up 5.79%)
Wilmar: B@$3.18, C@$3.15 (down 0.94%) *note that during this period when the buy call was made, there was a dividend of $0.02c!
Genting: B@$1.345, C@$1.36 (up 1.12%)
Hong Kong positions:
2689.HK: B@HK$3.69, S@HK$4.00 (up 8.4%)
Not too bad, noting the fact that markets were turning slightly sour for the past two weeks. We are currently looking at the Hong kong market as it looks to have much more potential than Singapore market so watch out for this space!
Singapore positions:
YangZiJiang: B@$1.03, S@$1.005 (down 2.42%)
IEV: B@$0.565, S@$0.5575 (down 1.32%)
CNMC: B@$0.345, C@$0.365 (up 5.79%)
Wilmar: B@$3.18, C@$3.15 (down 0.94%) *note that during this period when the buy call was made, there was a dividend of $0.02c!
Genting: B@$1.345, C@$1.36 (up 1.12%)
Hong Kong positions:
2689.HK: B@HK$3.69, S@HK$4.00 (up 8.4%)
Not too bad, noting the fact that markets were turning slightly sour for the past two weeks. We are currently looking at the Hong kong market as it looks to have much more potential than Singapore market so watch out for this space!
STI's performance on Friday
Late post but better than never, our positions remained the same for the Singapore market and volume was once again pretty low in Singapore but the gap down was very minimal.
Looking at Genting - possible breakout this coming Monday and hitting our target price! CNMC has been trending up and we believe that it will hit our target price pretty soon if market conditions are still favorable!
Have a great weekend!
Looking at Genting - possible breakout this coming Monday and hitting our target price! CNMC has been trending up and we believe that it will hit our target price pretty soon if market conditions are still favorable!
Have a great weekend!
IEV Holdings Ltd
One counter that we have a position on is IEV Holdings. Pretty interesting where we open a position midday after noticing some trends and fitting into our model.
Company name: IEV Holdings Ltd
Company code: IEVH.SI
About: IEV Holdings Limited (IEV) offers a range of integrated engineering solutions (IES) to support the offshore oil and gas industry in the Asia Pacific region. The Company provides engineering services to companies in the offshore oil and gas sector, such as offshore platform operators and engineering, procurement, construction, installation and commissioning (EPCIC) contractors. It has operations in Malaysia, Indonesia and Vietnam and sales and representative agreements with its agents in Europe, United States, India and China to promote and market its MGC products and services. The Company’s IES is categorized into six main divisions: jacket and pipeline installation solutions (JPIS), structural integrity solutions (SIS), inspection, repair and maintenance solutions (IRMS), life extension solutions (LES), decommissioning solutions (DS) and rigless well intervention solutions (RWIS). In March 2012, it incorporated IEV Energy Investment Pte. Limited in Singapore.
Company name: IEV Holdings Ltd
Company code: IEVH.SI
About: IEV Holdings Limited (IEV) offers a range of integrated engineering solutions (IES) to support the offshore oil and gas industry in the Asia Pacific region. The Company provides engineering services to companies in the offshore oil and gas sector, such as offshore platform operators and engineering, procurement, construction, installation and commissioning (EPCIC) contractors. It has operations in Malaysia, Indonesia and Vietnam and sales and representative agreements with its agents in Europe, United States, India and China to promote and market its MGC products and services. The Company’s IES is categorized into six main divisions: jacket and pipeline installation solutions (JPIS), structural integrity solutions (SIS), inspection, repair and maintenance solutions (IRMS), life extension solutions (LES), decommissioning solutions (DS) and rigless well intervention solutions (RWIS). In March 2012, it incorporated IEV Energy Investment Pte. Limited in Singapore.
Possible good entry price: $0.565
Target price: $0.62
Cut price for us: $0.51
Estimated holding time: 1 month or less
Looking at its chart today, we manage to see that it has broken its 50d MA and stayed above today. Resistance was met at $0.585 and retracted to close at $0.57. Looking at its movement currently, it seems to have consolidated for more than a week and today it broke out but hit the resistance that could be seen 2 weeks back. Will we be expecting that it would be hitting $0.585 again and not break out from there? Hard to determine that while we look at the current European and US markets which is down close to 0.8% - 1% at the moment, we still think there's a good chance to hit our target price!
Your thoughts?
Yangzijiang Shipbuilding
As I was mentioning in the afternoon, we have a position in this stock since yesterday but didn't had the chance to do some analysis on this.
Company name: Yangzijiang Shipbuilding (Holdings) Ltd
Company code: YAZG.SI
About: Yangzijiang Shipbuilding (Holdings) Ltd. is an investment holding company. It is engaged in the agency service for shipbuilding and related activities. It operates in two segments: Shipbuilding segment and Investment segment. The principal activities of shipbuilding segment are that of shipbuilding, ship breaking, offshore marine equipment construction, and ship design. On March 1, 2011, it acquired 40% interest in Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd, which subsequently increased its interest to 60%. On April 10, 2011, the Company acquired 54.47% interest in Jiangsu Runzhou Heavy Industry Co., Ltd. On July 29, 2011, it acquired 60% interest in CS Marine Technology Pte. Ltd. On August 24, 2011, the Company acquired 31.5% interest in Wuxi Runyuan Technology Micro-finance Co., Ltd. On December 5, 2011, the Company acquired Jiangsu Huayuan Metal Processing Co., Ltd. During the year ended December 31, 2011, the Company acquired 15 hectares of land to expand its yard-New Yangzi Yard.
Chart source: Reuters
This is an interesting counter for today. Even though the Singapore markets is pretty hot today, with Genting gaping out and Wilmar having some movements as well, we do not see any much movement from YZJ apparently. It was pretty range bound trading and couldn't break above $1.03 today. Looking at the charts, it's hitting a 50d MA and we probably need to see if YZJ could break out.
Possible good entry price: $1.02 - $1.03 (we are actually in at $1.033 average)
Target price: $1.10
Cut price for us: $0.99
Estimated holding time: 1 months
There's quite a number of actions today, especially on Wilmar, Genting, CNMC which we did cover. Especially for CNMC, the gap up was pretty good and we are on track for that! We will cover another stock that we have also just entered into a position today, which is IEV.
Your thoughts?
CNMC
Here's some analysis on CNMC as one of the stocks that we are looking at:
Company name: CNMC Goldmine Hldg Ltd
Company code: CNMC.SI
About: CNMC Goldmine Holding Limited is engaged in the business of exploration and mining of gold and the processing of mined ore into gold dore for subsequent sale. The Company operates in two segments: gold mining and other operations. The gold mining includes exploration, development, mining and marketing of gold. Other operations include investment holding company and provision of corporate services. Its projects include Sokor Gold Project and Nalata Project. The Sokor Gold Project is approximately 80 kilometers southwest of Kota Bharu, the state capital of Kelanta. In July 2010, CMNM achieved its maiden gold pour from the Sokor Gold Project, producing approximately 93.018 ounces of gold dore, which contained approximately 76.252 ounces of refined gold.
Company name: CNMC Goldmine Hldg Ltd
Company code: CNMC.SI
About: CNMC Goldmine Holding Limited is engaged in the business of exploration and mining of gold and the processing of mined ore into gold dore for subsequent sale. The Company operates in two segments: gold mining and other operations. The gold mining includes exploration, development, mining and marketing of gold. Other operations include investment holding company and provision of corporate services. Its projects include Sokor Gold Project and Nalata Project. The Sokor Gold Project is approximately 80 kilometers southwest of Kota Bharu, the state capital of Kelanta. In July 2010, CMNM achieved its maiden gold pour from the Sokor Gold Project, producing approximately 93.018 ounces of gold dore, which contained approximately 76.252 ounces of refined gold.
Being listed on October 2011, it has fallen from its high of $0.67 till its current price of $0.35 as of today's closing. Volume is kinda thin for this counter but looking at the trend it's going into since June, it is bending towards a slight uptrend and based on our technical analysis model, we are looking at a possible target price of $0.41. However, we want to be wary of current market conditions as well, as we wanted to be in a more favorable position to enter into this stock.
Possible good entry price: $0.33 - $0.345
Target price: $0.41
Cut price for us: $0.29
Estimated holding time: 1-2 months
What's your thoughts on this stock?
Genting Singapore PLC - When will the West Zone deliver?
Been some time since we posted any views on Singapore stocks. Today let's cover one that we have positions in. Our views on Genting:
| Good entry price: | $1.34 - $1.35 |
|
Target price:
|
$1.42 |
|
Estimated holding time period:
|
1 month |
The targeted price is based on current stock movement, current volume which is picking up and some trends that is based on technical analysis which is specifically created to target the Singapore stock market. Do note that the target price and estimated holding time period may change depending on the market conditions and trade with care.
Chart source: Reuters
Stock code: GENS.SI
Company name: Genting Singapore PLC
About: Genting Singapore PLC is an investment holding company. The principal activities of the Company include the development and operation of integrated resorts, operation of casinos, provision of sales and marketing support services to leisure and hospitality related businesses and investments. The operations in Malaysia, Alderney and other geographical areas in the Asia Pacific are sales and marketing services, online gaming and information technology services. On 27 December 2011, it incorporated Legold Pte. Ltd. On 8 December 2011, it incorporated North Spring Capital Blue LLC, North Spring Investments LLC and Pacific Sky LLC. On 28 December 2011, it acquired Dynamic Sales Investments Limited, Grand Knight International Limited and Greenfield Resources Capital Limited. On 12 September 2011, it acquired Blue Shell International Limited. On 4 November 2011, Calidone Limited and Star Cruise (C) Limited disposed their interest in WorldCard International Limited and its subsidiaries.
Here's the coverage from some brokerage recently as well:
Source: Investor Central
Q2 Revenue down 3%, Net Profit drops 43%
16/8/2012 – Genting Singapore anticipates improvement in cash flow in 2013 as its capex will slow down and the West Zone of its Resorts World Sentosa will generate additional revenue.
The casino operator also says it fully supports the proposed amendments to the Casino Control Act by the Singapore government.
The company just announced earnings for Q2 FY12:
Revenue: -3% to S$702.2 mln
Profit: -43% to S$138.5 mln
Fair value gain on derivatives: S$11.4 mln vs Nil
Cash flow from operations: S$426.4 mln vs S$318.3 mln
Dividend: Nil
DBS Vickers calls the results 'unexciting' as H1 EBITDA was only 40% of its full-year estimate.
Despite reducing its EBITDA estimate for FY12-FY14 by 3%-6%, DBS Vickers maintains a HOLD rating on the stock with an unchanged target price of S$1.17.
OCBC finds the results slightly below expectations but is worried about the more depressed economic outlook and its impact on the company’s performance.
Therefore, OCBC maintains a BUY rating but with a sharply lower target price of S$1.66 from S$1.97 previously.
Interestingly, Kim Eng's report is titled 'shortfall in 2Q12 results' but in the opening paragraph it says the results were ‘inline’ with estimates.
The broker has cut its earnings estimate for FY12-FY14 by 10%-15%, as it expects VIP volumes to be lower than earlier estimates.
Therefore, Kim Eng maintains a HOLD rating with a lower target price of S$1.31 from S$1.40 earlier.
16/8/2012 – Genting Singapore anticipates improvement in cash flow in 2013 as its capex will slow down and the West Zone of its Resorts World Sentosa will generate additional revenue.
The casino operator also says it fully supports the proposed amendments to the Casino Control Act by the Singapore government.
The company just announced earnings for Q2 FY12:
Revenue: -3% to S$702.2 mln
Profit: -43% to S$138.5 mln
Fair value gain on derivatives: S$11.4 mln vs Nil
Cash flow from operations: S$426.4 mln vs S$318.3 mln
Dividend: Nil
DBS Vickers calls the results 'unexciting' as H1 EBITDA was only 40% of its full-year estimate.
Despite reducing its EBITDA estimate for FY12-FY14 by 3%-6%, DBS Vickers maintains a HOLD rating on the stock with an unchanged target price of S$1.17.
OCBC finds the results slightly below expectations but is worried about the more depressed economic outlook and its impact on the company’s performance.
Therefore, OCBC maintains a BUY rating but with a sharply lower target price of S$1.66 from S$1.97 previously.
Interestingly, Kim Eng's report is titled 'shortfall in 2Q12 results' but in the opening paragraph it says the results were ‘inline’ with estimates.
The broker has cut its earnings estimate for FY12-FY14 by 10%-15%, as it expects VIP volumes to be lower than earlier estimates.
Therefore, Kim Eng maintains a HOLD rating with a lower target price of S$1.31 from S$1.40 earlier.
Some potential stocks to watch out from HSI
Some stocks that we identified that has potential of profiting from. Put this in your watch list and watch out this space!
Stock Quote: 3800.HK
Stock Quote: 2866.HK
Stock Quote: 2689.HK
Stock Quote: 3800.HK
Company name: GCL Poly Energy Holdings Ltd
About: GCL-Poly Energy Holdings Limited, together with its subsidiaries, is engaged in the manufacturing of polysilicon and wafers for the solar industry, as well as the development, management and operation of environmental friendly power plants. It has two segments: solar business, which manufactures and sells polysilicon and wafer to companies operating in the solar industry, and power business, which comprises the development, construction, management and operation of power plants and sales of coals. Power plants include coal fuelled cogeneration plants, resources comprehensive utilization cogeneration plants, gas fuelled cogeneration plants, biomass fuelled cogeneration plants, an incineration plant, a wind power plant and others. As of December 31, 2010, it operated 21 power plants. As of December 31, 2010, its total installed capacity was 1,125.5 megawatts. On March 30, 2010, it acquired 70.19% interests in Konca Solar Cells Co., Ltd. On May 23, 2012, it acquired Charm Team Limited. (source: reuters)Stock Quote: 2866.HK
Company name: China Shipping Container Lines Co Ltd
About: China Shipping Container Lines Company Limited is principally engaged in operation and management of container shipping. The Company is also involved in the provision of port services. The Company operates Pacific lines, Europe/Mediterranean lines, Asia-Pacific lines and China domestic lines, among others. During the year ended December 31, 2011, the Company handled approximately 7,438,002 twenty-foot equivalent units (TEUs). The Company operates its businesses in domestic and overseas markets. (source: reuters)
Stock Quote: 2689.HK
Company name: Nine Dragons Paper (Holdings) Ltd
About: Nine Dragons Paper (Holdings) Limited is engaged in manufacturing of linerboard, corrugating medium and certain types of coated duplex board. The Company also manufactures specialty paper, wood and bamboo pulp and produces unbleached kraft pulp. Its linerboard category includes kraftlinerboard, testlinerboard, white top linerboard and coated linerboard. The Company classifies different classes of products into Nine Dragons and Sea Dragon. The Company's other products include coated duplex board and white board. It classifies different classes of products into Land Dragon kraftlinerboard, Sea Dragon testlinerboard and Land Dragon testlinerboard. The Group offers corrugating medium ranging from 50 to 180 grams per square meter, of which light weight corrugating medium include 50, 60 and 70 gram per meter square. The Company offers uncoated woodfree paper of 55 to 140 gram per square meter. As of June 30, 2011, the Company had a production capacity of 11.45 million tons per annum. (source: reuters)
Trading positions for 4th December 2009
Closed the following positions:
Financial One @ 0.524 (+$570.49)
Opened the following positions:
Indo Agri @ $2.10389
As of now, Europe is gaining strength and US futures suddenly shoot up more than hundred points!
As U.S. employers cut a far fewer-than-expected 11,000 jobs in November, the smallest decline since the start of the recession in December 2007, this has boosted the markets and will this strength stay or big boys will take this chance to sell into strength once more?
Financial One @ 0.524 (+$570.49)
Opened the following positions:
Indo Agri @ $2.10389
As of now, Europe is gaining strength and US futures suddenly shoot up more than hundred points!
As U.S. employers cut a far fewer-than-expected 11,000 jobs in November, the smallest decline since the start of the recession in December 2007, this has boosted the markets and will this strength stay or big boys will take this chance to sell into strength once more?
Trading positions for 3rd December 2009
Today was a messy day:
Closed minor positions in Ezra @ $2.18
Opened the following position:
Ezra @ $2.2
Financial One @ $0.5082
With STI closing at 2808.18, above 2800 for the 1st time in the past few months, tomorrow will be a pivot point to see whether it can hold its ground above this major psychological point. Whether it is support or resistance, it cannot be confirmed yet.
With Europe currently in the green, fluctuating within 0.3% to 0.9%, the sales for retailers in US are slowly coming out. Thanks to CNBC, here is a nice table summarizing all:
November Same-Store Sales
Costco has missed analysts' expectations by 2%, and its anxious to see how the rest will fare in the coming days. Unemployment data will be out this friday and general consensus is expecting some fall since the previous report which is below 500,000.
Closed minor positions in Ezra @ $2.18
Opened the following position:
Ezra @ $2.2
Financial One @ $0.5082
With STI closing at 2808.18, above 2800 for the 1st time in the past few months, tomorrow will be a pivot point to see whether it can hold its ground above this major psychological point. Whether it is support or resistance, it cannot be confirmed yet.
With Europe currently in the green, fluctuating within 0.3% to 0.9%, the sales for retailers in US are slowly coming out. Thanks to CNBC, here is a nice table summarizing all:
November Same-Store Sales
| Retailers | November 2009 Estimate | November 2009 Actual |
| Costco Wholesale (total sales) | 8.1% | 6% |
| Target | (0.5%) | |
| BJ's Wholesale | 4.7% | |
| JCPenney | (4.4%) | |
| Kohl's | 1.0% | |
| Dillards | (8.0%) | |
| JW Nordstrom | 2.2% | |
| Saks | (20.8%) | |
| Macy's | (3.1%) | |
| Gap | 0.1% | |
| TJX | 9.3% | |
| Limited | (2.5%) | |
| Ross Stores | 6.1% | |
| Stein Mart | (6.5%) | |
| Abercrombie | (9.3%) | |
| American Eagle | (1.9%) | |
| Children's Place | 1.0% | |
| Aeropostale | 7.7% | |
| Hot Topic | (8.1%) | |
| Wet Seal | (6.7%) | |
| The Buckle | 3.9% | |
| Zumiez | (8.2%) | |
| Walgreen | 6.0% | 3.9% |
| Rite Aid | 1.8% |
source: Thomson Financial, Company reports. Figures in parenthesis are losses.
Costco has missed analysts' expectations by 2%, and its anxious to see how the rest will fare in the coming days. Unemployment data will be out this friday and general consensus is expecting some fall since the previous report which is below 500,000.
Trading positions for November
Been missing out posting for a month, as I was away in China for a short holiday and busy with work recently. Here are all my trades for November and December:
Previously missed out this:
Jason Marine @ $0.41 (+$455.40)
November trades:
Ramba @ $0.66 - sold @ $0.675 (+$57.61)
Mermaid @ $0.82 - sold @ $0.815 (-$239.08)
Kepland @ $3.01 - sold @ $3.133 (+$1937.45)
Ausgroup @ $0.66 - sold @ $0.665 (-$31.78)
Kepland @ $3.1575 - sold @ $3.05 (-$2678.04)
Kepland @ $3.13 - sold @ $3.12 (-$731.66)
Ausgroup @ $0.66833 - sold @ $0.66 (-$838.98)
December trades:
Indoagri @ $2.025 - sold @ $2.06 (+$705.02)
Ezra @ $2.15
Sinotel @ $0.612
Alot of choppy trades in November, especially when it was near the end of November, the markets were going wild and gains are getting lesser and lesser. After the Dubai saga, markets have resumed back to the peaks and now hitting the top. That is most probably a heavy resistance and expect some pullback for this. STI's peak is at around 2800 and everytime it touches, the fall begins. Tomorrow may be the day to hit 2800 again and we got to see how things go from here.
US markets are going to open soon and Europe is currently trading flat to slightly negative, while Asia markets have rallied about closed to 1% each. USD has been falling and almost reaching the bottom. Looking at the inverse, gold has rallied non stop and reached $1,211! Remember the late 2008, where oil hit $150? Now this is the moment for gold. Will it happen in the same way?
Previously missed out this:
Jason Marine @ $0.41 (+$455.40)
November trades:
Ramba @ $0.66 - sold @ $0.675 (+$57.61)
Mermaid @ $0.82 - sold @ $0.815 (-$239.08)
Kepland @ $3.01 - sold @ $3.133 (+$1937.45)
Ausgroup @ $0.66 - sold @ $0.665 (-$31.78)
Kepland @ $3.1575 - sold @ $3.05 (-$2678.04)
Kepland @ $3.13 - sold @ $3.12 (-$731.66)
Ausgroup @ $0.66833 - sold @ $0.66 (-$838.98)
December trades:
Indoagri @ $2.025 - sold @ $2.06 (+$705.02)
Ezra @ $2.15
Sinotel @ $0.612
Alot of choppy trades in November, especially when it was near the end of November, the markets were going wild and gains are getting lesser and lesser. After the Dubai saga, markets have resumed back to the peaks and now hitting the top. That is most probably a heavy resistance and expect some pullback for this. STI's peak is at around 2800 and everytime it touches, the fall begins. Tomorrow may be the day to hit 2800 again and we got to see how things go from here.
US markets are going to open soon and Europe is currently trading flat to slightly negative, while Asia markets have rallied about closed to 1% each. USD has been falling and almost reaching the bottom. Looking at the inverse, gold has rallied non stop and reached $1,211! Remember the late 2008, where oil hit $150? Now this is the moment for gold. Will it happen in the same way?
Trading positions for 27th Oct 2009
Closed the following position:
Indo Agri @ $1.715 (-$3450.42)
Quite a bad market recently, as US market plunged badly last night. I didn't open any more positions as it is quite risky. While Asian markets plunged within 1-1.5% range, Europe seem to be holding well, awaiting for the US markets to open. Definitely not for the faint hearted for this month, as we hit new highs but yet gains are not hitting new highs.
Indo Agri @ $1.715 (-$3450.42)
Quite a bad market recently, as US market plunged badly last night. I didn't open any more positions as it is quite risky. While Asian markets plunged within 1-1.5% range, Europe seem to be holding well, awaiting for the US markets to open. Definitely not for the faint hearted for this month, as we hit new highs but yet gains are not hitting new highs.
Trading positions for 23rd Oct 2009
Closed the following positions:
Lionapac @ $0.349 avg (-$876.52)
Opened the following positions:
IndoAgri @ $1.815
Nothing much to update as I was tight up with work nowadays as well as having some headaches for the past 1 week. It was quite uncomfortable as it is causing me to lose focus at time. Today, markets are still posting results and Fed ben is going to come out with some speech and it may affect the markets depending on what he will comment on the economy.
Lionapac @ $0.349 avg (-$876.52)
Opened the following positions:
IndoAgri @ $1.815
Nothing much to update as I was tight up with work nowadays as well as having some headaches for the past 1 week. It was quite uncomfortable as it is causing me to lose focus at time. Today, markets are still posting results and Fed ben is going to come out with some speech and it may affect the markets depending on what he will comment on the economy.
Trading positions for 21st Oct 2009
Closed some positions in LionApac..
Opened the following position:
Jason Marine @ $0.3925
Just came back from my department dinner and saw that Dow opened low and exploded high in the early trading hours. DuPont [DD 34.53
0.66 (+1.95%) ], American Express [AXP 35.74 0.32 (+0.9%) ] and Alcoa [AA 14.03 0.24 (+1.74%) ] were the top three gainers on the Dow.
But in the technical point of view, look at UUP (USD chart), it is falling again and this is showing the strength in the market. If you look back in March, this is a clear sign that this inverse relationship is propelling the markets. More actions to come, as the market is currently moving slightly downwards.
Opened the following position:
Jason Marine @ $0.3925
Just came back from my department dinner and saw that Dow opened low and exploded high in the early trading hours. DuPont [DD 34.53
0.66 (+1.95%) ], American Express [AXP 35.74 0.32 (+0.9%) ] and Alcoa [AA 14.03 0.24 (+1.74%) ] were the top three gainers on the Dow.But in the technical point of view, look at UUP (USD chart), it is falling again and this is showing the strength in the market. If you look back in March, this is a clear sign that this inverse relationship is propelling the markets. More actions to come, as the market is currently moving slightly downwards.
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