Straits announced force majeure on Sebuku coal operations

Was working when a friend told me about yongnam breaking resistance...yup..could be probably due to market sentiment. Drags down all the construction sector and the other pennies too. I'm worried about other things at the moment.Before I left, I saw the announcement that straits asia resource made. 'Force majeure', french for "greater force", is a clause in contracts which frees one or both parties from liability or obligation when an extraordinary...

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Earnings results (partial)

Thought it'll be interesting to take a look at the results this earnings seasons. Some of the excellent results are shown by small caps, like see hup seng and OK...

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STI rebound with low volume (up 0.96%)

Oh man...so tired...STI did a splendid rebound, rising 30 over points to close at 3526, with very low volume of 2.8 billion (not a good sign). The worst is not over yet. We have to see how the retracement is like after this rebound. If it goes below the previous low, the downtrend is not broken yet. Let's monitor the situation further.My watchlist doesn't seem to enjoy much of a rebound. Construction stocks carried on its downtrend, with the exception...

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GSS - Great Stock Sales!! 20-30% discount? haha

Wow...DJ dropped another 200 points. Haha, that makes it drop 500 points within 2 days! I read that it was the worst week for DJ since sept 2002...so serious ah? Hit by both credit problems and subprime problems?Will STI gap down again tmr? I think so, at least in the morning. But after so much selling even before DJ major drop last week, I think it should be less severe. At least, the superb results pulled in by SGX should stem STI from bleeding so much. Haven't seen STI dropped so much since March this year, where it went below ema50 days. I...

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Florida real estate bubble in 1920s

A lesson for the current situation in the property market. Are we doing the same thing as those people in the past? Read this and learn from it."Those who cannot remember the past are condemned to repeat it." by George Santayana----------------------------------Florida Real Estate BubbleThe 1920’s, in America, were a time of great prosperity. Skilled and educated working Americans had jobs providing numerous fringe benefits, paid vacations and pensions....

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TUA LAO...

Lao sai lah, STI...in the morning dropped 100 plus points (3%), but recovered to close down 87 points at 3492, with rather respectable volume of 4.1 billion.Surprised to see that Lian beng close up 0.005 and realised that they just released their quarterly results. From a glance, seems like they do pretty well, profit after taxation increased 183.7%. But on closer look, a can of worms opened. Revenue dropped 21.6%, while most of the income comes from 'other income', which includes things like forgiveness of loan from minority shareholder (seriously...

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Ping Biang Pong?

Market not doing too well these days huh? It went down 54 points to close at 3580, below support level. Could see more selling tmr, unless we rebound...but judging from dow now (-110), might not be so possible. Add on the fact that tmr is official profit taking day, Friday :PDow dancing cha cha nowadays, go in front 1 step, go back 2 steps. Their subprime problem really creating a hoo haa over there during the already volatile earning seasons. But these kind of explanations are nonsense...if the market is up, they will say subprime not a concern...

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My kitten :)

Since market is down, look at something nice:Here's my cat when she's a few months old :P So cutttee...

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Swiber won US$12 million contract

Didn't expect Dow to go -226 last night!Dow is getting very volatile these few weeks. Is it because of earnings seasons? Do Dow fluctuate a lot during earnings seasons? How come I didn't notice this last few times? Hmm...STI dropped straight in the morning, but I noticed that the selling is not broadbased. In fact, only a few STI component stocks are dropping. Overall my portfolio is fine, though slightly in the red (-$500). Construction stocks are still idling, except Chip eng seng, which broke out of resistance level and rallied the rest to...

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STI broke new record, 3665

I saw from tvmobile that STI broke new records, closing 3665 with volume of 2.98 billion. I don't feel that the rally is broadbased. In fact, most of the stocks in my watchlist are down. SGX must be the only one that brings the whole of STI up, haha :) Pennies again hogged the top volume. Scary times huh?I responded by selling off one of my stocks, CHoffshore. It ran up yesterday after breaking out of resistance and tried to break through 1.03 intra...

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John Law and the Mississippi Bubble in 1720s

Another lesson to learn from the past. Though technically this is not a bubble, more like a failed monetary policy. Good to learn from anyway :)-----------------------------------In the early 18th century the economy of France was depressed. The government was deeply in debt and taxes were high. In addition, the French controlled the colony of Louisiana, a vast settlement in the interior of North America. The Louisiana Colony included the Natchez...

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Expect the unexpected

Despite China's increase in interest rate and dow's bad performance last Fri, STI held up, along with the rest of the asian bourses. Shanghai, surprise surprise, managed to close 3.81% higher while its counterpart, HSI, closed up 0.32%. Nikkei however dropped 1.07%.A strong recovery by STI throughout the day saved STI from a potential -30 to close just -16 pts at 3635, well above support levels. Volume is a rather small 3.7 billion. Property and...

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Update of portfolio

Just to update my holdings since I bought in another stock, China transcom last week.1. Pac Andes holdings (ROI = 30%)2. Swiber (ROI = 155%)3. CSC holdings (ROI = 13%)4. Yongnam (ROI = 26%)5. Straits Asia resource (ROI = 33%)6. CH offshore (ROI = 28%)7. Lian Beng (ROI = 45%)8. China transcom (ROI = -6%)Slightly in the red for my portfolio, -$450 as of last Fr...

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Prepared for Monday?

Hey hey, I got the confirmation from CDP that I was allocated 5 lots of pac andes shares (4 allocated and guaranteed plus 1 excess lot). It also said that any refunds of funds not used will be done latest by 24th July. When I checked my bank accounts, I found that it had already been refunded to me on 20th July, the same day that the pac andes rights shares are traded.That wraps up the whole episode of the pac andes rights exercise. Actually it...

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What a week...cheong down cheong up

STI basically reversed all the losses done on Wed by panic selling upon hearing the development charges increment from 50% to 70%. It rose up 46 pts to close at 3651, up 1.30%.A good lesson to learn from this. Wed is definitely panic selling. What had development charges had to do with other stocks? Why are the mass selling of counters ranging from marine, commodities which had nothing to do with the increment in charges? Wed poised a good opportunity to take advantage of the fire sale of stocks. Most of the stocks already rebounded back to or...

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I got 1 excess pac andes share!!

Haha, today I logged into CDP to check if my Pac andes rights had been allocated to my account.I am supposed to have 8 lots of pac andes shares in CDP, because initially before the rights issue, I had 4 lots. After the 1-1 rights exercise, I should get just 8 lots. However, I applied for 6 excess rights because the price for the rights share is at a huge discount to closing - $0.52 compared to yesterday's close of 0.895 (42% discount!!). It's almost...

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South Sea Bubble

Market crash story 2Happens in 1700s in England. Haha, another lesson to learn from the past. Don't ever say that this time the market is different...human psychology is always the same and hence the market will always be the same.Read and learn :)-------------------------------------------------------Dubbed the “Enron of England”, the South Sea Bubble was one of history’s worst financial bubbles.The mania started in 1711, after a war which left...

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Dead cat rebound? Or genuine?

STI managed pretty well today, closing +20, with an okay volume of 4.5 billion shares transacted. Dow didn't do too badly last night (-53), so I guess that helps a lot. We are pulled up by Nikkei strong start and later by HSI too.Is the worst over? hmm, a little early to say. At most I can say is that the support at ema20 days holds, so that itself is a good sign. Let's see how tmr closes to get a feel of the strength. I guess much depends on Dow...

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STI diarrhoea

Thks for a couple of well meaning friends who sms-ed me when I was away to warn me of the panic selling occurring around 4 pm. I kind of expected STI to correct significantly because of the bearish rising wedge observed. What I didn't expect is the trigger of it.The Ministry of national development had announced that development charge rates will be revised from the current 50% to 70%. This is done so as to cool down the fervent en block collective...

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Tulip bulb mania of 1630s

Thought this was a very interesting fact about the dangers of speculation. Human psychology is always the same :) Last time is trading flowers....now is trading electronic bits and bytes, called 'stocks'.TulipmaniaCould a mere tulip bulb be worth $76,000? It is if people are willing to pay for it! It may sound preposterous, but this is exactly what happened in Holland in the 1630’s.The seeds of this craze were planted in 1593. A man by the name...

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STI distributing?

Bad sign for STI?I hate it when I see that STI opens up high in the morning and close neutral or slightly negative, with higher volume than previous day. Along with the fact that pennies hog the top 10 volume stocklist, it's a sure sign of distribution. Today's volume far exceeded yesterday's, at 6.4 billion. I think as long as I keep clear of STI index component, should be fine. Glad to read the announcement that Pac andes rights shares had been oversubscribed by 20 odd percent. Chances of me getting excess rights is quite low I guess, and can...

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China transcom

Great stock recommended by Decipher today (17 July entry)China transcomPurely TA play, no idea at all about its FA. Company deals with telecomms products in china. 3G play? haha!I like the ascending triangle (actually not sure if it's valid because the volume doesn't go lower) which tested the horizontal resistance line 0.54 thrice. The ascending triangle is also the base forming region of the flag formation. Last time I saw this kind of pattern...

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The secret

Market didn't do pretty well today. Higher volume than last fri, open high in the morning (+30) but close slightly negative (-1.38). Today Japan had a public holiday (marine day or something), and they also had a massive earthquake. Hope people there are doing well, my thoughts goes out to them.Portfolio went to red today because most of my holdings isn't doing too well. Swiber went down, construction stocks went down too. Pac andes one of my stocks...

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Weekly thoughts

Had a fantastic last week! My loses was erased the 2nd time in my trading life. I hope that it the last of it all!Dow closed 45 pts to close at another record high again. Should see STI following suit too, I hope. On the whole, STI doesn't look too good.I spotted the dreaded bearish ascending triangle formation again, accompanied by decreasing volume. If it breaks the downtrend line, we would go for yet another major retracement. On medium term,...

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You got aim BBR?

I sold off yellow pages already, trimmed down my portfolio a little. Here's my current portfolio:1. Pac Andes holdings (ROI = 33%)2. Swiber (ROI = 157%)3. CSC holdings (ROI = 21%)4. Yongnam (ROI = 33%)5. Straits Asia resource (ROI = 29%)6. CH offshore (ROI = 33%)7. Lian Beng (ROI = 47%)Last time I mentioned cosco with minimum tp of 4.50. It ended cheonging so much to hit above $5. Last close was $4.90, way above my target price. Haha, quite happy...

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Dow +280 pts last night --- all time high

Quite tired tonight, so this would be a short one.Dow broke resistance and closed at all time high last night, quite shocked to see it rallied up 280 plus points. I though the rally would cause STI to cheong, but the buying didn't impress me much. It opened up high but steadily decreases throughout the day. Most of my counters rose up in the morning but dropped neutral or slightly positive. Volume for STI was 4.1 billion, slightly more than yesterday.Could be Friday, so profit taking on hot counters are usual. Yongnam fell 0.015 to close at 0.530....

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Swiber India :)

Trades done today: Sold my entire 1 lot of Yellow page at 1.38 (ROI = -20.3%, ROI with dividend = -15.6%)Reasons:Do not believe in the business. Bought for wrong reasons (based on brokerage report), should have cut losses but didn't. Been a year and it still haven't reached the price I had paid (1.67). I'll rather put in other stocks (though the dividend yield is quite good).--------------------STI did pretty well today, rose up 30 pts to close...

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My investing journey

Got a happy announcement to make: I've erased my losses!!At this moment, not only have I erased my losses, I'm sitting on $860 profits (fluctuates between 500 to 1000, see how it closes today). It had been one hell of a ride. If you've been following my blog since I started around dec 06, you would have seen my trials and tribulations and how I've grown to give crappy analysis (I cringed when I look at my older postings) to a more proper one now...

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Yongnam VS UOB.....yongnam wins!

STI didn't do too badly, given that Dow dropped 148 points last night. Even briefly went up to positive before closing lower by 25 points. Volume also much lower, a good thing. Practically, I don't see much correction at all from my watchlist. Property / banks continued its decline, bringing STI down. All the construction stocks are so shock resilient. Cosco the mad one even went to close at all time high of 4.64. Much more than the target price I set. More about that in a separate post to wrap up my huat funds selection.Haha, quite happy to see...

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