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17-Aug-2009 10:44

Midas / Midas

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Frankly, imo, those who short are really asking for trouble, anyway good for those who long, they will later have to chase up to cover their short

risktaker ( Date: 17-Aug-2009 10:41) Posted:

You keep doing it .... How to meet our target.... let it go ... cover ur short. This coy has good FA no reason to pressure.....

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17-Aug-2009 10:42

Midas / Midas

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Intraday, as at now, it is bouncing up from the 15ema just like STI, a dragonfly doji now.

risktaker ( Date: 17-Aug-2009 10:37) Posted:

Come on la let it go up to $0.90 today. TP $1 this week. Why pressure the price.

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17-Aug-2009 10:29

Midas / Midas

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Frankly, imo, I m unfazed by this dips as it presents a good buy opportunity.

Look at it in perspective, it is down bcos of the general mkt is down, nothing wrong with this counter, the wise will be buying.

risktaker ( Date: 17-Aug-2009 10:12) Posted:

On sale NOW -- Kin buy bo... later cheong u cry

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17-Aug-2009 09:54

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Looks like bouncing up from the 15ema

ronleech ( Date: 17-Aug-2009 09:46) Posted:

Most likely will see some parring loss in afternoon...provided SSE is ok...

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17-Aug-2009 09:49

Others / AFTER 9 MONTH RALLY-WAT MUST WE DO

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Asia

Europe

America

Commodity(** = 30 mins delayed)

Index	Last	Change	%	High	Low	Time
STI	2575.68	-55.83	-2.12%	2591.71	2569.56	09:48:15
Hangseng	20893.33	32.03	0.15%	21037.17	20639.56	16:01:33
Nikkei225	10364.68	-232.65	-2.2%	10521.02	10348.78	10:48:03
SSE	2992.70	-54.27	-1.78%	2994.87	2969.59	09:48:24
KLCI	1176.55	-12.02	-1.01%	1188.57	1176.40	09:48:15
SET	654.25	-1.43	-0.22%	656.94	650.91	16:36:14

louis_leecs ( Date: 17-Aug-2009 09:37) Posted:

shanghai drop very fast,,,,,,,,,,,,,,,look like dump dump dump no stop,,,,,,,,,,,,,,my fund kenna w,,,,,,,,,,,,,,sian

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17-Aug-2009 09:46

AusGroup / AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m

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China May Boost Energy, Mining Acquisitions by Half (Update2)

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By John Duce

Aug. 14 (Bloomberg) -- China, unfazed by failures to invest in Rio Tinto Group and Unocal Corp., will boost spending on oil and mining acquisitions by at least half this year to take advantage of lower valuations after commodity prices slumped.

State-owned Yanzhou Coal Mining Co. yesterday agreed to buy Australia’s Felix Resources Ltd. for about A$3.5 billion ($2.9 billion), a day after Sinochem Corp., China’s biggest chemicals trader, offered to buy Emerald Energy Plc for 532 million pounds ($881 million) to gain oil fields in Syria and Colombia.

China National Petroleum Corp.’s plan to buy Repsol YPF SA’s Argentine unit may push Chinese purchases of overseas commodity assets to $43 billion this year, a 48 percent increase on 2008, according to data compiled by Bloomberg.

“The Chinese don’t have enough nickel, don’t have enough oil, and they don’t have enough copper,” Jim Rogers, chairman of Rogers Holdings and the author of books including “Investment Biker” and “Adventure Capitalist”, said in a telephone interview yesterday. “There’s a crisis coming. They are going around the world buying up what they can. They’re preparing for a rainy day.”

Bids for resources by China, whose $2.1 trillion in currency reserves are the world’s largest, have been met with opposition in the U.S. and Australia. Neither concern over its growing influence nor the arrest of four Rio executives in Shanghai have stopped Chinese companies from buying assets abroad as the nation’s 4 trillion yuan ($585 billion) economic stimulus spurs demand.

‘Bolder Deals’

“China will see larger and bolder deals,” said Brian Gu, the Hong Kong-based head of mergers and acquisitions for greater China at JPMorgan Chase & Co., the third-ranked adviser by transaction value this year. “The growing outbound mergers and acquisitions activity is going to be a long-term trend and the volume and activity are here to stay.”

The Reuters/Jefferies CRB Index, which tracks 19 raw materials, dropped 36 percent last year, the biggest annual decline since at least 1957. The measure has gained 15 percent this year on signs that the recession may be ending.

Chinese energy companies have spent at least $13 billion on overseas assets since December as they take advantage of lower valuations caused by the slowdown.

Yanzhou, China’s fourth-biggest coal miner, is offering A$18 a share for Felix, including a dividend and stock in a spin off of a unit of the Australian company.

‘Inferior’ Offer

The offer, recommended by Felix’s board, is “inferior” and shareholders should reject it, Sophie Spartalis, an analyst with Macquarie Group Ltd., said in a report today. A bid of between A$23 to A$25 a share would be “more reasonable,” she wrote.

Felix rose 4.1 percent to A$17.60 in Sydney trading. Yanzhou climbed 2.3 percent in Hong Kong to HK$12.40 while its Shanghai shares rose 3.7 percent to 20.72 yuan.

The state-owned parents of PetroChina Co., China Petroleum & Chemical Corp. and Cnooc Ltd. are studying investments in companies in Africa, Latin America, the Middle East and Central Asia, according to JPMorgan’s Gu and Mike Arruda, a lawyer at Jones Day in Hong Kong who advises on mergers and acquisitions in the oil and gas industry. Both declined to disclose details of deals they are advising on.

Controlling Stake

China National Petroleum, the parent of PetroChina and the nation’s biggest oil company, is considering offering $13 billion to $14.5 billion for a controlling stake in Repsol’s unit, three people familiar with the matter said last month.

China Petrochemical Corp., the country’s second-biggest oil company, in June agreed to buy Geneva-based Addax Petroleum Corp. for C$8.3 billion ($7.6 billion) in China’s biggest overseas takeover to date.

Purchasing Addax, which has oil reserves in Iraq’s Kurdish territory, shows Chinese oil companies are “going for bigger transactions,” said Arruda, who is advising on what he described as “significant” acquisitions. “These deals seem to reflect an appetite we have not seen before.”

China bought record volumes of oil and iron ore in July, according to customs figures released Aug. 11.

The world’s fastest-growing major economy consumes more than a third of the world’s aluminum output, a quarter of its copper production, almost a tenth of its oil and accounts for more than half of trading in iron ore. Last year, China bought $211 billion worth of iron ore, refined copper, crude oil and alumina, according to government data.

Demand, Imports

China’s oil consumption doubled in the last decade, rising to 8 million barrels a day last year from 4.2 million barrels in 1998, according to BP Plc’s Statistical Review. The world’s third-largest economy imported 3.6 million barrels of oil a day last year, meeting about 45 percent of its needs.

China’s increasing reliance on imported crude means the scale of acquisition deals has to increase, said Paul Ting, president of New Jersey-based Paul Ting Energy Vision LLC, a consulting company specializing in Chinese oil and gas markets.

The country’s crude needs may rise to more than 11 million barrels a day in five years with China’s ageing oilfields unable to produce the extra capacity needed, Ting said.

China National Petroleum said on May 13 it wants overseas crude production to match domestic output by 2020. Chairman Jiang Jiemin said CNPC produces less than 8 percent of its oil overseas and foreign acquisitions and ventures must be increased. “We want overseas production to contribute half,” he said at the time.

Australian Opposition

Bids for resources by China have been met with opposition from lawmakers in Australia.

Melbourne-based Rio, the world’s third-largest mining company, abandoned a tie-up with Aluminum Corp. of China, or Chinalco, in June. The arrest of four Rio executives in July has strained relations between the countries. They were formally arrested on charges of trade secrets infringement and bribery, China’s Supreme People’s Procuratorate said Aug. 11, according to a Xinhua report.

Some 57 percent of Australians said Chinese mining investments should be resisted because the nation’s interests would be “better served” with local ownership, according to a poll of 890 people conducted by Essential Research in April.

Opposition to Chinese investment helped block Cnooc’s $18.5 billion bid for Unocal in 2005 while Haier Group Corp. lost out in the race to acquire U.S. appliance maker Maytag Corp. in the same year.

Unocal, Repsol

Cnooc, 66 percent-controlled by state-owned China National Offshore Oil Corp., abandoned its cash offer for Unocal after being outmaneuvered by Chevron Corp, the second-largest U.S. oil company. Chevron purchased the El Segundo, California-based oil and gas producer for $17.8 billion amid political opposition to the Chinese approach in Washington.

CNPC’s approach for Repsol’s Argentine unit is unlikely to face such obstacles from Spain, according to Nitin Sharma, an analyst at JPMorgan Cazenove Ltd. in London.

“We do not believe that the Spanish government will veto Repsol YPF plans to divest a controlling stake in YPF,” Sharma wrote in a report last month.

To contact the reporter on this story: John Duce in Hong Kongt . Jduce1@bloomberg.net Last Updated: August 14, 2009 04:40 EDT

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17-Aug-2009 09:24

Midas / Midas

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Maximum utilisation and current favourable cost-plus contracts aided its performance.

Midas will be building three downstream fabrication lines for a total of ~S$45m that will

be able to process 1000 train cars/year. The three lines are part of Midas’ strategy to

cement its dominance and sustain margins in the domestic railway industry as it transforms

into one-stop shop for aluminium train profiles and components.

The company’s RMB1.4b order book will likely be filled more when the PRC government

awards its 2nd phase of train contracts for 4000+ train cars.

Today, Midas’ firm order book and more anticipated contract wins in Sep-Nov 09 for both

NPRT and itself will serve to under-gird valuations.

We have pegged Midas at 20x (prev. 18x) FY10F PER and our fair value is S$1.05

(prev. S$0.93).

Maintain BUY. (Kelly Chia)

yipyip ( Date: 17-Aug-2009 09:18) Posted:

From OCBC
Mon, 17 Aug 2009, 08:53:19

Market Pulse: Midas, Wilmar, Golden Agri, Tat Hong, PAH, Foreland,
Hotel Grand, KS Energy, Rickmers & Z-OBEE (17 Aug 2009)

FOCUS

Midas Holdings Ltd: Buttressed valuations. Maintain BUY. fair value is S$1.05

Summary: Midas Holdings (Midas) posted 2Q09 revenue of S$37.8m
(-2% YoY, +20% QoQ) and bottomline of S$9.4m (+10% YoY, +11% QoQ).
Maximum utilisation and current favourable cost-plus contracts
aided its performance. Midas will be building three downstream
fabrication lines for a total of ~S$45m that will be able to
process 1000 train cars/year. The three lines are part of
Midas’ strategy to cement its dominance and sustain margins in
the domestic railway industry as it transforms into one-stop shop
for aluminium train profiles and components. The company’s RMB1.4b
order book will likely be filled more when the PRC government awards
its 2nd phase of train contracts for 4000+ train cars. Today,
Midas’ firm order book and more anticipated contract wins in Sep-Nov 09
for both NPRT and itself will serve to under-gird valuations. We have
pegged Midas at 20x (prev. 18x) FY10F PER and our fair value is S$1.05
(prev. S$0.93). Maintain BUY. (Kelly Chia)

Wilmar: 2Q09 results mostly in line

Summary: Wilmar reported its 2Q09 results last Friday; revenue was
down 27.0% YoY at US$5,712.3m, but net profit rose 22.7% to US$407.2m.
On a sequential basis, revenue rose 15.2%, which was 9.9% ahead of
our estimate, while earnings rose 7.2%, about 0.5% below our forecast.
For the half year, revenue fell 28.7% to US$10,670.4m, meeting 42.0%
of our FY09 estimate, while net profit gained 16.6% to US$787.1m, or
nearly 60.8% of our full-year number. Management remains upbeat about
its 2H09 prospects. We are raising our FY09 and FY10 earnings estimates
by 18.9% and 14.4%, respectively, to reflect its better profitability.
This in turn improves our fair value from S$5.78 to S$7.28, still based
on 20x blended FY09/FY10 PER. Maintain BUY. (Carey Wong)

Golden Agri-Resources Ltd: Maintain HOLD

Summary: Golden Agri Resources (GAR) released its 2Q09 results on
Friday; revenue was down 30.7% YoY but rebounded 37.2% QoQ to US$565.6m;
net profit tumbled 64.7% YoY but was up nearly 543.0% QoQ to US$55.1m.
Operationally, it appears that the worst of the previous tree stress
(due to the drought in 2006) has passed; management is hopeful of seeing
better production numbers in 2H09. And while there may be a possible El
Nino effect this year, management believes that the impact will probably
be felt some 12 months later. We have also raised our CPO assumptions
for this year from US$600/ton to US$620/ton, and this in turn bumps up
our FY09 revenue forecast by 6.8%; but only raised our net profit estimate
by 4.2% as GAR will still need to work through the excess fertilizer that
it had bought at a much higher price late last year. Using a higher 12x
blended FY09/FY10 EPS valuation (vs. 10x previously), our fair value will
rise from S$0.35 to S$0.45. Given the limited upside, we maintain our
HOLD rating. (Carey Wong)

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17-Aug-2009 01:13

Straits Times Index / STI to cross 3000 boosted by long-term investors

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From Credit Suisse publication "Research Daily - Asia Equity Focus":

[BrokeragesReport] Asian equities to extend rally after Q2 earnings surprises

Q2 earnings surprises and strong liquidity extend Asian equity rally.

We reiterate our pro-cyclical equity strategy and overweight position
on Asian equities against an improving macro and fundamental backdrop
amidst the Q2 reporting season.

We expect three key positive drivers to extend the Asian equity
rally further in H2 2009.

First, the Asian markets have entered an earnings upgrade
cycle, which turns out to be stronger than market expectations.

After the trough of the Asian earnings downgrade cycle
in April, the pace of consensus EPS upgrades
has been accelerating in July and August with
broader breath in the positive earnings revisions.

2009E consensus EPS for non-Japan Asia has been upgraded by 7.5% in
the first 10 days of August and 6.2% in July, accelerating from the
3.3% and 3.4% upgrades in June and May respectively.

Consensus EPS for 2010E has also been upgraded 6.1% so far in August,
accelerating from 4.4% in July and 2.5% in June.

It is noteworthy that August so far offers the biggest monthly earnings
upgrades for non-Japan Asia since the 2001 global recession.

The accelerating earnings upgrade momentum is a very positive indicator
for the equity markets, as it offers a strong fundamental driver to extend
the Asian equity rally going into H2 2009.

Secondly, Asia is poised to benefit from an accelerating global asset
relocation process to diversify from the rising risk of USD weakness and
to increase exposure to the high-growth regions.

Net foreign buying in Emerging Asia (ex-China & Malaysia) hit anew record
high of USD 10.2 bn in July.

Asia has remained the leading region to attract the largest portion of global
fund inflowsto GEM equities since March 2009.

On YTD basis, all GEM-dedicated equities have attracted approximately
USD 36 bn inflows,which almost double the amount received each in 2005 and
2006 and close to the value recorded at the last cycle peak in 2007.

This sharply contrasted the USD 50 bn YTD outflows from developed markets and
indicated continued global asset reallocationfrom developed markets to high-beta
emerging markets.

Lastly, we do not expect any imminent risk of a major reversal of global monetary policy.

As the recent FOMC meeting reaffirmedthe Fed's policy stance to keep near zero
interest rates for an extended period in order to nurture an economy recovery while
inflationary pressure is expected to stay subdued.

The sharp deceleration in China's new loan issuance and moderation in fixed asset
investment in July should mitigate the risk of premature policy tightening and asset
bubble running out of control in China.

The low interest rate environment and loose liquidity conditions provide a favorable
investment environment for equities.

Tactically, our technical strategists believes the global equity markets have entered
a short-term consolidation phase extending into late August, as short-term momentum
reading has topped out for most of the global indices.

At current levels, we regard the Asian equity markets as fairly valued at 14.9x 12-month
forward P/E at mid-cycle valuation.

Our base-case 12-month index targets imply a modest 4% upside for MSCI Asia ex-Japan and
5% upside for MSCI Asia Pacific.

We note the abundant liquidity and underinvestment of institutional and private investors
underpin potential upside risk for the Asian markets to overshoot our fundamental index targets.

Strong global liquidity inflows into the region could drive the Asian markets to test our
optimistic 12-month index targets, which offer an aggregate upside of 24% for MSCI Asia ex-Japan
and 18% for Asia Pacific.

To ride on the earnings-driven rally, we recommend investors to focus on our favourite recovery
leaders and reflation plays in Asia, including selected technology, banking, cement, metals and mining companies.

Cheuk Wan Fan, Phone: +852 2841 4841, cheukwan.fan@credit-suisse.com

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17-Aug-2009 00:44

Midas / Midas

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Hi raymondho,

U r most welcome, but always remember not to follow anyone's post blindly.

Remember, dyodd n BOSAYOR as it is fair tat we can't blame the poster for our losses (we take responsibilty for our own actions) as likewise we dun share our winnings with the poster, right.

raymondho ( Date: 17-Aug-2009 00:36) Posted:

Thanks, Richtan

Take note of your points. As I have been losing so much in the past, this time I must equip myself and learn from all of you who have in-depth knowledge and experience, hope to recover some losing $$ and look forward to turn a bit rich... ha ha. I used to follow your post and Bintang's. Of course some more seniors'.

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16-Aug-2009 23:33

Midas / Midas

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Hi Bintang,

U r most welcome.

We are here to built cameraderie n learn n alert each other, tats is the right mindset to adopt

Bintang ( Date: 16-Aug-2009 18:48) Posted:

Hi richtan , star-trader n raymondho , thanks for all your valuable comments , as we are in this risky trading market , to warn n giving advice to each others are neccessary , hoping for the best n preparing for the worst , n last but not least is setting stop-loss protection is a' must ' . Thank u all gentlemen .

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16-Aug-2009 23:24

Midas / Midas

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Hi raymondho,

I had aredi shared with u my views on those indicators as lagging which I dun pay much attention but more as secondary indicators to lend credence and more firm support to my leading indicators if it too agrees with the leading indicators.

I learnt from some TA books tat emas are better than sma, thus where I chose 3 emas, one short-term (15ema), one mid-term (25ema) and last one, long-term (65ema).

The candles must be read in combination with the vol (daily and weekly), see my annotations in my chart analysis.

raymondho ( Date: 16-Aug-2009 22:10) Posted:

Thanks, Richtan,

Finally manage to post it up.

I do agree Midas FA is very strong with order book full up to 2010. But from the chart it shows short term downtrend even their qtr result is out, but less strenght. I doubt Monday's opening will show up.

May I have your view on my interpretating of chart? Vested

raymondho ( Date: 16-Aug-2009 22:05) Posted:

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16-Aug-2009 23:14

Midas / Midas

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I too hope tomoro, Midas shows up n plse her fans but at the same time gentle reminder not to get emotional and not let go our guard and set our stop-losses, as nothing is guaranteed

raymondho ( Date: 16-Aug-2009 22:28) Posted:

Hi! Richtan and Risktaker, Thank you for both your posting.

Understand, now I am with better mood to see thing. Agree with you Richtan, that why I always feel confuss why the price movement shows reversed direction with those indicators. Learn a lot from you.

Once again, Thank you.

Hope tomolo Midas shows up and pleases all her fans.

risktaker ( Date: 16-Aug-2009 19:48) Posted:

Richtan dont worry about those unwanted noise :) Sometimes people see things differently. I agree with you that those are lagging indicators. I have a strong feeling tomorrow people will be chasing midas. lol.

Midas $0.80 will be none existance after tomorrow .

Huat Ah :) $1.28 here we come.

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16-Aug-2009 23:08

Midas / Midas

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Hi raymondho.

U r most welcome.

I too hope to learn from u and all fellow forumers, tats why I m always open-minded n receptive to others views.

Learning is a lifelong process.

Todays' National Day rally reminds us to "Live and let live", we all have differing views, we discuss and exchange views without the need to flame each other nor rate each other as bad, share a common space here.

I graciously extend my hand to those tat does not see eyes to eyes with me to let past grudges, if any, be waters under the bridge, be magnanamous, let go hatred, lets be constructive and harmonious, reply and share your disagreements, I too hope to learn from u.

raymondho ( Date: 16-Aug-2009 22:28) Posted:

Hi! Richtan and Risktaker, Thank you for both your posting.

Understand, now I am with better mood to see thing. Agree with you Richtan, that why I always feel confuss why the price movement shows reversed direction with those indicators. Learn a lot from you.

Once again, Thank you.

Hope tomolo Midas shows up and pleases all her fans.

risktaker ( Date: 16-Aug-2009 19:48) Posted:

Midas $0.80 will be none existance after tomorrow .

Huat Ah :) $1.28 here we come.

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16-Aug-2009 18:00

Others / Play Your Cards Right

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Yes, I fully agree with u.

dealer0168 ( Date: 16-Aug-2009 14:42) Posted:

Sorry is:

Jiang Tai Gong Diao ~~Yue~~ Yu, Yuan Zhe Shang Gou

dealer0168 ( Date: 16-Aug-2009 14:38) Posted:

Follow the market trend i will say.

Some counter suppose not to shine , but its share price rises too fast due to speculating by people. This type of stock must not go long term to it. The unlucky one paid the price to get at the highest paid share value fr that counter. N will stuck there.

Anyway, there is a chinese phrase fr these people who got stuck there.

Jiang Tai Gong Diao Yue, Yuan Zhe Shang Gou

<Sometime is not they don't know, but bc of greed they just buy blindly n got stuck. Remember in this world no easy money>

Which counter/ type of counter they are, i shall not point out to safeguard the interest of the investor.

Hold only stock with good FA. Rem, only hold those that has not realised its truth value only. Those that has share value that is very high already ....forget abt it.

N leave abt 50% of the cash for short term trading of some stocks. Earn some money.....cheers.

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16-Aug-2009 17:52

Midas / Midas

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Hi raymondho,

Read my ealier reply to Bintang regardind ADX.

Personally, I dun read too much into those indicators u mentioned as they are lagging indicators, I pay more attention to the candles, their patterns, the emas and the vol as these are leading indicators to me.

Stoch is moree applicable when the stock price is range-bound but lose its significance in a trending stock.

This is based on my knowledge, feel free to disagree by sharing your knowledge, so tat we can learn from one another..

richtan ( Date: 16-Aug-2009 17:22) Posted:

Hi raymondho,

To post your charts, follow this steps:

1. In your chartnexus, click "File", "Capture charts", saved it to your hard disk

2. Go to http://tinypic.com/, click "Browse" and search for tat saved chart" and click "Upload now"

3. Copy "Direct link for layouts"

4. In sharejunction, click "Insert/modify image" n paste step 3 in "Image url" n click "OK"

raymondho ( Date: 16-Aug-2009 13:01) Posted:

I try to insert chart from Chartnexus, but can't do it.

From reading of chart, I found most of the indicators show a short term downtrend:

   ADX : 18    +DX : 28     -DX : 22    is trending down,

    CCI : 103 slipped from 163 and yet above 100, that means it will slip below 100 if no hugh vol to push up

    MACD : 0.02 is now meeting and go flat

   Stochastic : %K : 68%   %D : 79% shows down

   Friday's closing candlesticks also show a down sign.

I wonder by Monday opening Midas will surge, but the trendline (Bintang suggested) shows a resistance at 0.90

      14 days MA support : 0.86

     25 days MA support : 0.84

Of cause, market performance on the intraday will change all firection. Midas has a very bright and strong order books

so, for middle and long term, I agree it is a gem to be polished for shinning. But daily traders, may have to keep an eye on it.

Merely personal view for sharing, hope other forumers can point out my wrong interpretation of chart.

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16-Aug-2009 17:38

Midas / Midas

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Looking at the chart, the 25ema had been providing very strong support (at 0.84).

Personally, I will exit if it closes 2 days continuous below it (to avoid one day fake breakdown) but this is not a call to buy or sell, dyodd n BOSAYOR.

Note my annotaion in my chart "Price rise on increased vol but corrects with decrease vol", this shows to me tat BBs are the big buyers n not selling during correction, instead only those emotional retail traders sell.

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16-Aug-2009 17:26

Midas / Midas

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Below is my chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments and plse do not be so childish or lunatic as to abuse the

rating system by rating it as "bad post", accumulating for yourself and your

next generation, "bad" karma for your "bad" deeds.

If u think it is a bad post, then be constructive and kindly post your TA for sharing.

This is only my view n I may be right or wrong, so dyodd and SOBAYOR.

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16-Aug-2009 17:22

Midas / Midas

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Hi raymondho,

To post your charts, follow this steps:

1. In your chartnexus, click "File", "Capture charts", saved it to your hard disk

2. Go to http://tinypic.com/, click "Browse" and search for tat saved chart" and click "Upload now"

3. Copy "Direct link for layouts"

4. In sharejunction, click "Insert/modify image" n paste step 3 in "Image url" n click "OK"

raymondho ( Date: 16-Aug-2009 13:01) Posted:

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16-Aug-2009 17:08

Midas / Midas

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Hi star-trader,

No offence or insult intended.

I m open-minded n rceptive to others views and here to share my knowledge and exchange pointers.

Neither is last Thurs nor last Fri's candle a "hanging man" as it does not fulfil the rules below (even if it is a hanging man, confirmation is definitely required with a lower low and lower high black candle):

"Rules of Recognition" for hanging man

1 The small real body is at the upper end of the trading range.

2. The color of the body is not important.

3. The long lower shadow should be much longer than the length of the real body, usually 2 to 3 times.

4. There should be no upper shadow, or if there is, it should be very small.

star-trader ( Date: 16-Aug-2009 16:25) Posted:

Thanks Bintang for your reply...

I have read your post previously, you are indeed full of insight and gain a lot of knowledge from you...I agree with you that MIDAS will defnitely move up to your TP which is matter of time and is a good stock with true FA value. But my technical info based on the short-term weaknesses of this stock which the "hanging man" for the candlestick indicates that there will be a reversal trend. Targeted price will be 0.825 - 0.835 before any rebounds..Again, my personal view only..not a call to sell or buy..

rgds, star-trader..

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16-Aug-2009 01:03

Trading Techniques / Advices to newbies

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This is just one of my few cut-loss strategies, there are others, eg break below a chart pattern for at least 2 days continous, as one day break could be a fake.

richtan ( Date: 16-Aug-2009 01:01) Posted:

Hi wongmx6,

There is no hard n fast rules about cut-losses, the strategy varies depending on the risk/reward ratio and a person's risk-aversion level.

The strategy I used does not mean it is applicable to everyone as every individual has their own different threshold of pain.

Eg, 2 scenarios:

Scenario 1:

In a candle reversal pattern, if the candle close below the low of the candle b4 the peaking candle and the nearest support line is far down, I will exit instead of exiting when it breaks and close below the support, to minimise my risk.

Scenario 2:

In a candle reversal pattern, if the candle close below the low of the candle b4 the peaking candle and the nearest support line is quite nearby, I will exit only when it breaks and close below the support, as my risk is not tat great.

As I said, this is my strategy, so do not follow me blindly, as wat works for me may not work for u as I said, everyone has different threshold of pain., so dyodd n BOSAYOR.

wongmx6 ( Date: 15-Aug-2009 06:56) Posted:

Hi Richtan,

I'm aware that in your post you have talked about cut losses.

Can you please kindly share, What kind of methods that you are using to cut losses....?

Thanks

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