Sunday, October 25, 2009

Sold China Fish, Straits Asia

Sold 5 lots Straits Asia on 14th Oct 09 @ $2.04.
Sold 6 lots China Fish on 19th Oct 09 @ $1.29.

Saturday, October 17, 2009

SC Global

Summary of article on SC Global (BT, Mon Oct 5th 09, Ven Sreenivasan). Future reference for next bear market, need to verify the figures below:
  • 1$.42bn debt
  • But asset base is 2.38bn - is developable land valued at cost.
  • 900,000 sq ft landbank, target and higg end of market. 400 units unsold inventory in projects such as the Marq, Hilltops and Martin No 38.
  • Landbank carried on bookas an avg cost of $1500 psf (is this cost price?)
  • Company has sold 20% of its inventory, and is collecting payments progressively.

Tuesday, October 13, 2009

US market: going up on low volume

Not sure. My view:
  • This rally is driven by liquidity, not fundamentals. Unlike '98, Asia cannot export its way out. Expect years for the world economy to rebalance. Governments in every country, from the US to China to Australia to Singapore have given some sort of 'stimulus package'. One day the morphine will wear off.
  • My gut feel is that the rally still has some way to go. I dont feel the optimisim for the end of a bull. Still, I could be wrong - this sentinment is not a measurable indicator. I await further signs eg: penny stocks (sub 5c) on SGX hitting top 20 vol, more bullish news reports, less doubt, more participation by the masses.

US market has been making new highs in low vol since August:

Graph from Bespoke Investment group showing breadth has improved since August (possibly since July).

Uncertain. Market may still be in trading range - so I'll buy on dips, cut loss when going up. The S&P chart above shows the mini-rallies from July to now lasted 8-13 days. Tomorrow will be day 7 of the current 'mini rally'. The SGX has now gone back to faithfully following the previous night's US moves (where it used to preceed them).

Monday, October 12, 2009

Sold Olam

Sold Olam Mon 12th Oct 09 @ $2.58. Beacuse my broker recommneded it as it looked 'oversold', and she was the one that got me into the stock in the first place.

Saturday, October 10, 2009

Yanlord: close but not convincing

Was tempted to buy, but on second look, price/vol behaviour is unconvincing.

Cut loss SGX and Epure

Sold 1 lot SGX @ $8.21 on 6th Oct 09. Buying was a mistake - the breakout was not real - and the subsequent chart action confirms this:

Also sold 10 lots Epure @ 55.5c the dame day as it broke below support. The future price action is not so bad - still too early to tell if it has broken the uptrend.

I wanted to sell both the day before but my broker advised me to wait.