Monday, January 07, 2008

China xlx awarded 100 most important industrial enterprises

What a big market selldown. STI dropped a total of 84.73 points (2.46%), closing at 3353 with a volume of 1.62 billion. All the big caps fell and from the viewpoint of my watchlist, it seems that the small caps are not spared either. Amid the selldown, china milk is about the only positive counter in my watchlist. Wondering what's up with that counter...saw a period of time where the counter shot up to a intraday high of 1.13 before closing at 1.090, up 0.010.

A few news to share about china xlx:

1. I never knew xlx stands for Xin Lian Xin :)

2. China xlx is awarded Henan 100 most important industrial enterprises on 23 Nov 2007. I think this is a confirmation of the size and ranking within its own industry...a confirmation that the company is there. Other than that, I'll be a little cautious about all these rankings because of the supposed curse involved. Haha, the curse is that those who are ranked 1st in any ranking tend to be the last next time. Go google sports illustrated curse to see what i mean. Perhaps this company deserves a closer look in its financial statements, instead of just the technical charts.

3. One of their products was also exempted from quality surveillance inspection, a testament to the long term quality assurance, market share and comprehensive quality control systems china xlx have in place. It also passed 3 consecutive times for the past inspection test. Hmm, interesting..

Agriculture leads to fertiliser? Another theme to play on in the near future with rising agri commodities?

STI's chart is shown above. Looks more like a descending triangle than a symmetrical. Either case, it's critical not to fall below 3300, otherwise we could be seeing more bloodshed. I don't like the increasing volume while STI falls.

HSBC comes nearer and nearer. I think must use dbs vickers to observe the live prices for it. As long as it's near 120 to 122, I think i'll grab it.

Dow +40 so far.