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Latest Posts By richtan - Supreme      About richtan
First   < Newer   3021-3040 of 3268   Older>   Last  

10-Apr-2009 23:03 Others   /   AWAKENING OF BEAR       Go to Message
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Return of Stock Bulls Signals Time to Sell: Technical Analysis


By Patrick Rial

April 10 (Bloomberg) -- Investors turned optimistic for the third time since the credit crisis started last year, gauges of sentiment among individual investors in the U.S. show, a pattern that Helmsman Global Trading says is a signal to sell.

The difference between the American Association of Individual Investors Bull Index and Bear Index surged to 5.6 as of April 2. When the reading rose to 11.5 in November and 13.6 in January it coincided with the end of “bear-market rallies” of at least 21 percent by the MSCI World Index.

“What that’s going to show is that people always want to look at the glass as if it is half full,” said Martin Marnick, head of trading at Helmsman Global Trading Ltd. in Hong Kong. “Using common sense you know what that general trend is. We’re in a recession and this is not the start of a bull market.”

The spread, which has fluctuated between 63 and minus 54 in the past two decades, has climbed above 5 in only three periods since the collapse of Lehman Brothers Holdings Inc. in September. It retreated to minus 8.6 according to data released yesterday.

The AAII gauges are compiled from weekly polls and track whether U.S. individual investors believe the market will rise, fall, or remain unchanged in the next six months. A negative number in the bull-bear spread indicates pessimists outnumber optimists.

The reading fell to as low as negative 51 on March 5, a level not seen since October 1990, when the MSCI World was at the end of a 10-month bear market that erased 26 percent of its value. The MSCI benchmark dropped 59 percent from its October 2007 high to a 13-year low on March 9. It has since rallied 22 percent.

The Organization for Economic Cooperation and Development said on March 27 its 30 members are likely to see their economies contract by 4.2 percent this year.

To contact the reporter for this story: Patrick Rial in Tokyo at prial@bloomberg.net. Last Updated: April 9, 2009 19:56 EDT
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10-Apr-2009 23:01 Others   /   DOW       Go to Message
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Return of Stock Bulls Signals Time to Sell: Technical Analysis


By Patrick Rial

April 10 (Bloomberg) -- Investors turned optimistic for the third time since the credit crisis started last year, gauges of sentiment among individual investors in the U.S. show, a pattern that Helmsman Global Trading says is a signal to sell.

The difference between the American Association of Individual Investors Bull Index and Bear Index surged to 5.6 as of April 2. When the reading rose to 11.5 in November and 13.6 in January it coincided with the end of “bear-market rallies” of at least 21 percent by the MSCI World Index.

“What that’s going to show is that people always want to look at the glass as if it is half full,” said Martin Marnick, head of trading at Helmsman Global Trading Ltd. in Hong Kong. “Using common sense you know what that general trend is. We’re in a recession and this is not the start of a bull market.”

The spread, which has fluctuated between 63 and minus 54 in the past two decades, has climbed above 5 in only three periods since the collapse of Lehman Brothers Holdings Inc. in September. It retreated to minus 8.6 according to data released yesterday.

The AAII gauges are compiled from weekly polls and track whether U.S. individual investors believe the market will rise, fall, or remain unchanged in the next six months. A negative number in the bull-bear spread indicates pessimists outnumber optimists.

The reading fell to as low as negative 51 on March 5, a level not seen since October 1990, when the MSCI World was at the end of a 10-month bear market that erased 26 percent of its value. The MSCI benchmark dropped 59 percent from its October 2007 high to a 13-year low on March 9. It has since rallied 22 percent.

The Organization for Economic Cooperation and Development said on March 27 its 30 members are likely to see their economies contract by 4.2 percent this year.

To contact the reporter for this story: Patrick Rial in Tokyo at prial@bloomberg.net. Last Updated: April 9, 2009 19:56 EDT


Livermore      ( Date: 10-Apr-2009 12:27) Posted:

Dow is likely to head higher from chart

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10-Apr-2009 22:56 Others   /   DOW       Go to Message
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Be careful, dun chase after stocks.

Markets are grossly overbought & ripe for corrections anytime.

All it takes is a loss of momentum, the music to stop the musical chair,  or an adverse news to trigger a knee-jerk correction & u end up holding "hot potatoes".

Read today's Straits Times, pg D16 (10/4/09 Fri), I quote:

"Despite yesterday's renewed upswing, analysts said the upward momentum in Asian mkts would be hard to sustain, as investors were still troubled by economic concerns & fears about corporate earnings.

Technical indicators revealed tat Asian mkts were "showing signs of peaking this week"according to a CIMB Research report released yesterday.

It noted: "Volatility is expected to remain the order of the day and we would not be surprised if Asian markets tried to challenge their highs before correcting"

Eddyson      ( Date: 10-Apr-2009 12:20) Posted:

You see, Dow up so much - next week Citi bank & etc profit announcement, if sentiment still remain like this - a bull is born but don't quote me because I'm already fully invested with some opportunity funds left behind just incase the trend changes.Smiley

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10-Apr-2009 22:54 Others   /   Are you a bear or a bull?       Go to Message
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A bear in bull's skin!! akin to "A wolf in sheep's skin"

Hahaha!!!
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10-Apr-2009 22:51 Others   /   Bottom already a history       Go to Message
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Be careful, dun chase after stocks.

Markets are grossly overbought & ripe for corrections anytime.

All it takes is a loss of momentum, the music to stop the musical chair,  or an adverse news to trigger a knee-jerk correction & u end up holding "hot potatoes".

Read today's Straits Times, pg D16 (10/4/09 Fri), I quote:

"Despite yesterday's renewed upswing, analysts said the upward momentum in Asian mkts would be hard to sustain, as investors were still troubled by economic concerns & fears about corporate earnings.

Technical indicators revealed tat Asian mkts were "showing signs of peaking this week"according to a CIMB Research report released yesterday.

It noted: "Volatility is expected to remain the order of the day and we would not be surprised if Asian markets tried to challenge their highs before correcting"

rabbitfoot      ( Date: 10-Apr-2009 14:18) Posted:

Monday, strong rally will come. Shiok, shiok Smiley

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10-Apr-2009 22:44 Others   /   Bottom already a history       Go to Message
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Return of Stock Bulls Signals Time to Sell: Technical Analysis


By Patrick Rial

April 10 (Bloomberg) -- Investors turned optimistic for the third time since the credit crisis started last year, gauges of sentiment among individual investors in the U.S. show, a pattern that Helmsman Global Trading says is a signal to sell.

The difference between the American Association of Individual Investors Bull Index and Bear Index surged to 5.6 as of April 2. When the reading rose to 11.5 in November and 13.6 in January it coincided with the end of “bear-market rallies” of at least 21 percent by the MSCI World Index.

“What that’s going to show is that people always want to look at the glass as if it is half full,” said Martin Marnick, head of trading at Helmsman Global Trading Ltd. in Hong Kong. “Using common sense you know what that general trend is. We’re in a recession and this is not the start of a bull market.”

The spread, which has fluctuated between 63 and minus 54 in the past two decades, has climbed above 5 in only three periods since the collapse of Lehman Brothers Holdings Inc. in September. It retreated to minus 8.6 according to data released yesterday.

The AAII gauges are compiled from weekly polls and track whether U.S. individual investors believe the market will rise, fall, or remain unchanged in the next six months. A negative number in the bull-bear spread indicates pessimists outnumber optimists.

The reading fell to as low as negative 51 on March 5, a level not seen since October 1990, when the MSCI World was at the end of a 10-month bear market that erased 26 percent of its value. The MSCI benchmark dropped 59 percent from its October 2007 high to a 13-year low on March 9. It has since rallied 22 percent.

The Organization for Economic Cooperation and Development said on March 27 its 30 members are likely to see their economies contract by 4.2 percent this year.

To contact the reporter for this story: Patrick Rial in Tokyo at prial@bloomberg.net. Last Updated: April 9, 2009 19:56 EDT


rabbitfoot      ( Date: 10-Apr-2009 16:51) Posted:

Shanghai Index UP about 3 %, Monday it's STI turn....SmileySmiley..

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10-Apr-2009 22:34 Others   /   DOW & STI       Go to Message
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Be careful, dun chase after stocks.

Markets are grossly overbought & ripe for corrections anytime.

All it takes is a loss of momentum, the music to stop the musical chair,  or an adverse news to trigger a knee-jerk correction & u end up holding "hot potatoes".

Read today's Straits Times, pg D16 (10/4/09 Fri), I quote:

"Despite yesterday's renewed upswing, analysts said the upward momentum in Asian mkts would be hard to sustain, as investors were still troubled by economic concerns & fears about corporate earnings.

Technical indicators revealed tat Asian mkts were "showing signs of peaking this week"according to a CIMB Research report released yesterday.

It noted: "Volatility is expected to remain the order of the day and we would not be surprised if Asian markets tried to challenge their highs before correcting"
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10-Apr-2009 22:11 Others   /   DOW & STI       Go to Message
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Return of Stock Bulls Signals Time to Sell: Technical Analysis


By Patrick Rial

April 10 (Bloomberg) -- Investors turned optimistic for the third time since the credit crisis started last year, gauges of sentiment among individual investors in the U.S. show, a pattern that Helmsman Global Trading says is a signal to sell.

The difference between the American Association of Individual Investors Bull Index and Bear Index surged to 5.6 as of April 2. When the reading rose to 11.5 in November and 13.6 in January it coincided with the end of “bear-market rallies” of at least 21 percent by the MSCI World Index.

“What that’s going to show is that people always want to look at the glass as if it is half full,” said Martin Marnick, head of trading at Helmsman Global Trading Ltd. in Hong Kong. “Using common sense you know what that general trend is. We’re in a recession and this is not the start of a bull market.”

The spread, which has fluctuated between 63 and minus 54 in the past two decades, has climbed above 5 in only three periods since the collapse of Lehman Brothers Holdings Inc. in September. It retreated to minus 8.6 according to data released yesterday.

The AAII gauges are compiled from weekly polls and track whether U.S. individual investors believe the market will rise, fall, or remain unchanged in the next six months. A negative number in the bull-bear spread indicates pessimists outnumber optimists.

The reading fell to as low as negative 51 on March 5, a level not seen since October 1990, when the MSCI World was at the end of a 10-month bear market that erased 26 percent of its value. The MSCI benchmark dropped 59 percent from its October 2007 high to a 13-year low on March 9. It has since rallied 22 percent.

The Organization for Economic Cooperation and Development said on March 27 its 30 members are likely to see their economies contract by 4.2 percent this year.

To contact the reporter for this story: Patrick Rial in Tokyo at prial@bloomberg.net. Last Updated: April 9, 2009 19:56 EDT
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08-Apr-2009 22:15 GLD USD   /   Gold going up this year?       Go to Message
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Wave count is very subjecive & complex, it is more of an art than science depending on how each individual analyse the count, thus true wave analysis practitioner always have an alternative wave count but here where is the alternative wave count??.

Take a look at this, looks more professional as he offers an alternative wave count.

(1) Long term less bullish wave count but long term bullish:

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID369857&cmd=show[s161474176]&disp=P

(2) Long Term Bullish wave count

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID369857&cmd=show[s161471755]&disp=P



cheongwee      ( Date: 08-Apr-2009 18:25) Posted:



GOLD IS NOT READY YET..


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08-Apr-2009 14:39 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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Sori, I dun make recommendation as I'm not a licensed broker or trader as no guarantees as anything can go wrong just like US, who would forsee & expect aig, lehman, citigroup, etc, all this one time stalwarts would collapse, even GIC with the cream of the crop think-tank can also be caught off-guard.

Any stocks also can make u peng-san even if the stock did not peng-san if u enter at the wrong price, holding a hot potato.

I trade based on TA & daily scan thru the SGX list of stocks for buy sign & practice stop-loss once I entered into a trade.

I'm not sure whether we can use CPF for China ETF in SGX as my cpf invested purely in SGX approved local stocks & gold savings.



HLJHLJ      ( Date: 08-Apr-2009 14:13) Posted:

RichTan,

        Any recommendation for s-chips? a bit scared for me after being burnt by cosco. Anyway, i've confidence in cosco (hopeflly, i'm right).
Which other schips wont' go turn-turtle (pean san)? Like to recommend?

BTW, can we use CPF for chinaETF in SGX? I mean CPF outside the 35% limit.
I want to exhaust all my CPF money for stocks. Not going into condo. Condo is still too high.

Thank you.



AK_Francis      ( Date: 08-Apr-2009 11:03) Posted:

Well said.

Small column in today paper as well.



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08-Apr-2009 12:18 Others   /   S-Chip       Go to Message
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If u believe in China growth, then u should also believe in the potential of s-chips.

Once they clean up their dirty act, they will in time to come no long branded as "scam chips" but instead, let me be the 1st to coin the term "super chips".

The smart savvy trader are the ones to make big money as they dare to tred where everyone fears & exit when the masses realised its worth & the herd instinct chases it & becomes "hot potatoes".





Hulumas      ( Date: 08-Apr-2009 11:33) Posted:

Despite any bad news, I build more in my stock portfolio with S-chips of about 88%. To me is my best accumulating opportunity while the S-chips bitten down by the exaggerated market bad news/sentiment.

louis_leecs      ( Date: 08-Apr-2009 08:40) Posted:

star pharm,,,,,,,,,,china fashion,,,,,,,,,,,, bright orient,,,,,,,,,,,,,,,,,,, three baby having audit  problem,,,,,,,,,,,,,china sky cash rich but chairman force sell to meet oblic,,,,,,,,,,,,,,,,,,,,,,,,,china disaster signal look like not over,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,im also take out all radar from china counter,,,,,,,,,,,,,,,,,,,,xiam for another season,,,,,,,,,,,,,,,,,,,,,,,,,,,,hold for any cheap bargain,,,,,,,,,,,,,wait for more cant believe bad news,,,,,,,,,,,,,,,,,,,,choose singapore cash rich counter,,,,,,,,,,,,,,,,,,,,,,,,,cheers


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08-Apr-2009 11:16 AusGroup   /   Ausgroup       Go to Message
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Good News: Ausgroup & SPC (read SPC thread) both in Natural Gas Biz

From Next Insight:

AUSGROUP: Gains foothold in LNG sector with A$120m landmark deal Print E-mail




Written by Sim Kih   
Monday, 06 April 2009

 

AusGroup’s Australian subsidiary, AGC Industries Pty Ltd, will provide construction support at Australia’s second largest resources project, the Pluto LNG process facility.

“The contract firmly establishes us as a key supplier to the LNG construction industry in Western Australia, “ said AusGroup CEO, Mr John Sheridan, in a press statement last Friday.

Work will start immediately, with completion scheduled by end FY2010 (Jun 2010).  With this contract award, AusGroup’s order book now stands at A$264 million.

The CEO was upbeat that deals related to the Pluto LNG project will help AusGroup to perform well in the current financial year and the next, according to a report by The Edge.

The global economic recession has impacted planned capex in the minerals resources industry as well as the oil & gas industry.  Yet, AusGroup is confident that by focusing on its key clients like Woodside and BHP Billiton, deal flow is more stable as projects of global significance such as those embarked on by these resource giants are unlikely to be shelved.

Discovered in April 2005, the Pluto field is estimated to contain 4.4 trillion cubic feet of recoverable liquefied natural gas.  Woodside’s $12 billion Pluto LNG Project is scheduled to commence gas production in late 2010.

The project comprises of an offshore platform in 85m of water connected to five subsea big bore wells on the Pluto gas field. Gas will then be piped to shore in a 180-km, 36-inch pipeline.

AusGroup’s scope of work consists of mechanical works associated with the installation of structural steel and process piping, installation of mechanical equipment, pre-assembled pipe racks, modules and structures, testing of pipe work and associated activities.

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08-Apr-2009 10:58 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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If u believe in China growth, then u should also believe in the potential of s-chips.

Once they clean up their dirty act, they will in time to come no long branded as "scam chips" but instead, let me be the 1st to coin the term "super chips".

The smart savvy trader are the ones to make big money as they dare to tred where everyone fears & exit when the masses realised its worth & the herd instinct chases it & becomes "hot potatoes".



HLJHLJ      ( Date: 08-Apr-2009 10:47) Posted:

Yes, recently i've loaded up unit trusts in China. About 6% gain now.. Averaging up along the way...

Very simple concept, if you look long term, China will boom with 1.3b people. Very soon, they will replace US as a growth engine.... Actually, SSE has already risen about 50% from its rock bottom. Lately it is holding on very well. In the long run, i forsee SSE reaching 10,000 and more.

Chinese people are by nature very resilent and hardworking. If there are opportunities, they will "cheong". Thousands of yrs of ups and downs have chastened them to be tough. I'm happy as China rise is good for Singapore. Both countries are of very good relationship. This is a plus pt as it reduces investment risks for small fries like us.



ozone2002      ( Date: 08-Apr-2009 10:27) Posted:



Wanna ride the rally?.. give u a clue..

CHINA CHINA CHINA........


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08-Apr-2009 10:48 China Hongxing   /   handon trading...       Go to Message
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No thanks.SmileySmiley

Even if you want to tell me, I wont trust anybody.

I would prefer to trust myself & do my own homework



handon      ( Date: 08-Apr-2009 01:33) Posted:



buy... hold.... sell....

dun tell u....Smiley

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08-Apr-2009 10:40 Others   /   DOW       Go to Message
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OIC, I tot he also been affected & not immune to this crisis & also loss quite substantial.

As a TA practitioner, I dun believe in long term investing, u sit the roller-coaster up & down.

Dun believe me, just take a look at all the stock charts & u see most look like a "Towering Inferno" over the long term, shooting up & subsequently dying down.

If u had bot at the start of the flame or anywhere b4 the peak of the flame & hold till now, u would have been burnt, toasted & fried as most of your huge profit would had been wiped off, experiencing empty happiness at the end of the day.

Only the green-horn & uninitiated would buy this "long-term investing" bulshit idea but not to a trader who can make much more from chart trading.



HLJHLJ      ( Date: 08-Apr-2009 08:06) Posted:

WB ==> Warren Buffet. He is the all-time great investor. His porfolio increased thousands of times ever since invested. He believes in long-term. Go to web and search for him.

richtan      ( Date: 08-Apr-2009 00:29) Posted:

Pardon my ignorance, who is WB, my guess (trying to be funny bone)... Warner Brothers, Wright Brothers. Joking lah, but really, wondering who is WB


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08-Apr-2009 01:05 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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Wat makes u so sure, MFT??

des_khor      ( Date: 08-Apr-2009 01:03) Posted:

shortlists heaven for the next 2 weeks....

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08-Apr-2009 00:45 Others   /   When can we reach the peak?       Go to Message
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08082088

Hulumas      ( Date: 07-Apr-2009 18:02) Posted:

08082018

jonahach      ( Date: 07-Apr-2009 17:41) Posted:

Anyone?


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08-Apr-2009 00:29 Others   /   DOW       Go to Message
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Pardon my ignorance, who is WB, my guess (trying to be funny bone)... Warner Brothers, Wright Brothers. Joking lah, but really, wondering who is WB?

mario1      ( Date: 07-Apr-2009 23:38) Posted:

I trust WB more, anyone knows what's his view of this rally?

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07-Apr-2009 23:00 Others   /   DOW       Go to Message
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Do u trust this man??

He could have again short-sell & now scare everyone into selling so he can buy back lower, hahaha... I think he is a cunning old fox.

Read the quote yourself:

"Soros’s Soros Fund Management LLC was last month fined 489 million forint ($2.2 million) for attempting to manipulate the share price of OTP Bank Nyrt., Hungary’s largest bank, the country’s financial regulator said.

The Soros fund attempted on Oct. 9 to “send out false or misleading signals about a security’s supply and demand or its share price” and short sold OTP shares, the regulator, known as PSZAF, said in a statement late yesterday. The short selling caused the shares to drop 14 percent in the final 30 minutes of trade, the regulator said. Soros apologized for the trade and said the fund had started an internal investigation"



pjdpeter      ( Date: 07-Apr-2009 14:50) Posted:

Soros Calls Gain by U.S. Stocks Since March a Bear-Market Rally
Share | Email | Print | A A A



By Saijel Kishan and Kathleen Hays


April 7 (Bloomberg) -- George Soros, the billionaire hedge- fund manager who made money last year while most peers suffered losses, said the four-week rally by U.S. stocks isn’t the start of a bull market because the economy is still shrinking.

“It’s a bear-market rally because we have not yet turned the economy around,” Soros, 78, said in an interview yesterday with Bloomberg Television, referring to a temporary rebound in stock prices. “This is not a financial crisis like all the other financial crises that we have experienced in our lifetime.”

The Standard & Poor’s 500 Index of the largest U.S. companies has gained 24 percent since March 9 on optimism that the worst of the 16-month U.S. recession is over. The economy continues to contract, and there’s a risk the U.S. falls into a depression, Soros said.

“As long as we deal with this in a multilateral and more or less coordinated way, I think we’ll get through,” he said.

Soros gave a mostly positive review of the President Barack Obama’s administration.

“He’s done very well in every area, except in dealing with the recapitalization of the banks and the restructuring of the mortgage market,” said Soros, who has published an updated paperback version of his book “The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means (Scribe Publications, 2009). “There, unfortunately, there’s just a little bit too much continuity with the previous administration.”

U.S. stocks fell for the first time in five days yesterday on concern that government measures to shore up banks may not help as much as expected and loan losses will exceed levels from the Great Depression. Soros said the banking system is “seriously under water” with banks on “life support.”

‘Zombie’ Banks

“They are weighed down by a lot of bad assets, which are still declining in value,” he said in the interview in his New York office. “The amount is difficult to estimate, but I think it’s in the region of maybe a trillion-and-a-half dollars.”

Soros said the change to fair-value accounting rules will keep troubled banks in business, stalling a U.S. recovery.

“This is part of the muddling-through scenario where we are going to keep zombie banks alive,” Soros said. “It’s going to sap the energies of the economy.”

The Financial Accounting Standards Board last week relaxed so-called mark-to-market rules, allowing banks to use “significant” judgment in gauging prices of some investments on their books. While analysts said the measure may reduce writedowns and boost net income, investor advocates and accounting-industry groups said it will help financial institutions hide their true health.

Nationalization Bugaboo

“This bugaboo of nationalizing the banks, which President Obama has determined not to do, the result is that we are nationalizing only one side of the balance sheet,” Soros said. “We gradually take over the deficits on the balance sheet. But we are not actually going to benefit from the banks recovering.”

Money being injected into banks under government rescue programs should be used to finance new leading, according to Soros. He said he participated in HSBC Holdings Plc’s rights offer, which raised about $17.7 billion last week.

Soros’s firm oversees $21 billion. Its Quantum Endowment Fund returned 8 percent in 2008. That compared with an average loss of 19 percent by hedge funds, according to data compiled by Hedge Fund Research Inc. of Chicago. The fund is up 5.2 percent this year through February, according to data compiled by Bloomberg.

Soros was ranked as last year’s fourth-highest paid hedge fund manager with about $1.1 billion, according to Institutional Investor’s Alpha magazine.

Hedge-Fund Regulation

Soros said hedge funds should be regulated like other financial firms and that it would be appropriate for authorities to monitor positions to see whether some managers have “excessive exposure.”

The Group of 20 leaders said last week that they would extend oversight to all financial institutions deemed vital to global financial stability, including for the first time “systemically important” hedge funds. U.S. Treasury Secretary Timothy Geithner said last month he wants to bring hedge funds, private-equity firms and derivatives markets under federal supervision for the first time.

“The hedge funds that have used excessive leverage have actually failed or are on the way out, so I don’t think this is going to do any damage or hurt the hedge funds except for the fact that they have to fill out more forms,” Soros said.

“Recognizing that markets are inherently unstable does require a different kind of regulation than we had in the past,” he said.

Hungarian Ruling

Soros’s Soros Fund Management LLC was last month fined 489 million forint ($2.2 million) for attempting to manipulate the share price of OTP Bank Nyrt., Hungary’s largest bank, the country’s financial regulator said.

The Soros fund attempted on Oct. 9 to “send out false or misleading signals about a security’s supply and demand or its share price” and short sold OTP shares, the regulator, known as PSZAF, said in a statement late yesterday. The short selling caused the shares to drop 14 percent in the final 30 minutes of trade, the regulator said. Soros apologized for the trade and said the fund had started an internal investigation.

Soros said that the U.S. housing market hasn’t reached a trough, even as transactions in some areas such as California have increased.

“There are some signs of hitting bottom, but we are not there yet,” he said. “A lot has been done to forestall foreclosures.”

China’s Stimulus

Hungarian-born Soros gained fame in the 1990s when he broke the Bank of England’s defense of the pound and drove the currency from Europe’s system of linked exchange rates. He also successfully bet that Germany’s mark would rise after the collapse of the Berlin Wall in 1989 and Japanese stocks would start to fall in the same year.

Soros said China’s economic growth will accelerate before the end of the year.

“They have a pretty big stimulus package,” he said. “They are going to use more, because not being a democracy, the leadership knows that their very survival, the avoidance of social unrest, requires them to generate growth.”

China’s economy in the fourth quarter grew 6.8 percent from the same period a year earlier, lagging the 9 percent expansion in all of 2008 and 13 percent in 2007. Industrial output growth slowed, forcing thousands of factories to close and leaving about 20 million migrant workers jobless.

Brazil’s economy will resume growth “relatively soon,” helped by Chinese demand for iron ore and soybeans, Soros said.

“I think Brazil actually, together with China, will be among the recovering countries. I think the outlook for Brazil is better than for most other countries.”

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07-Apr-2009 14:41 SPC   /   SPC       Go to Message
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From KIm Eng:

Good News - SPC is now diversified & no longer just a pure oil play

 

Singapore Petroleum Company is set to embark on its first full-scale natural gas venture in the fourth quarter of this year when it commercialises gas production - selling it to an Indonesian power station - from its Kakap field there. Listed SPC, which is increasingly investing in upstream exploration and production assets to diversify its earnings base, said in its just-released 2008 annual report that 'gas production from Oyong remains on schedule and is expected to commence in 2009'. Oyong's PSC (production-sharing contract) partners started work last year on the field's second phase of development to commercialise the gas reserves there. This follows the first phase development of Oyong which was focused on oil, with the Indonesian field currently giving SPC an average 2,527 barrels per day (bpd) of oil.

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