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Huat ah
risktaker ( Date: 24-Aug-2009 22:21) Posted:
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I strongly believed touching 0.97 - 0.98 will trigger the correction. 0.925 - 0.93 will be the support point.
dealer0168 ( Date: 24-Aug-2009 22:18) Posted:
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Hi richTan, ok thanks for the explaining.
Actually Genting SP up quite alot already. Correction is expected actually. But jus curious how far Genting SP can go b4 correction takes place. |
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Tuesday - 25/08/2009 Hot Pick.
#1 Genting SP - This share are ramping up for coming licence announcement. Also expected annoucement of soft-lanuch during Q4.
#2 Midas will very likely get its attention pretty soon as warrant will be listed pretty soon.
#3 GoldenAgri will be in favor of the speculative fuel prices as its margin increases due to its rising palm oil prices.
HUAT ah
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I strongly believed touching 0.97 - 0.98 will trigger the correction. 0.925 - 0.93 will be the support point.
dealer0168 ( Date: 24-Aug-2009 22:18) Posted:
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Hi richTan, ok thanks for the explaining.
Actually Genting SP up quite alot already. Correction is expected actually. But jus curious how far Genting SP can go b4 correction takes place.
richtan ( Date: 24-Aug-2009 22:01) Posted:
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Hi dealer0168,
Bearish divergence means though the prices formed 2 or more higher peaks but the other indicators show otherwise, ie more or less a warning sign tat corrections coming soon, when ??, nobody knows. |
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wah pikachu also come out lol. congrats
daphnecsf ( Date: 24-Aug-2009 17:15) Posted:
Sweet! Today Midas has breakout 15 days EMA! |
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congrats to those who
1) Buy Today
2) Hold
Your on the buyer side = Winner Side :)
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happy ?
JJSeng ( Date: 24-Aug-2009 17:05) Posted:
| Wah! last minute appox 12k buy up. |
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good news :)
smartrader ( Date: 24-Aug-2009 15:07) Posted:
Coal Rally Ending as China Shuns Imports, Opens Mines (Update2)
By Bloomberg News
Aug. 24 (Bloomberg) -- China’s unprecedented appetite for imported coal is about to be sated, jeopardizing a five-month rally in prices by adding to a global surplus of the fuel used in power plants from Perth to Chicago.
After importing a record 48 million tons in the first six months, China is opening mines idled by worker deaths this year following safety upgrades in a bid to bolster economic growth. Huadian Power International Corp. expects China’s largest coal- mining province, Shanxi, to boost output by 60 percent in the second half of the year. That would mean an increase of 150 million metric tons, almost twice what Germany burns annually.
With little need to buy coal outside the country, prices may tumble, falling as much 7 percent in Europe alone, Barclays Capital says. China’s purchases will plunge 33 percent between June 30 and Dec. 31, based on the median estimate of four analysts surveyed by Bloomberg.
“In the first half, China really supported the market and put a pretty firm floor under the thermal-coal price because it was sucking in so many imports,” said Andrew Harrington, an analyst at Patersons Securities Ltd. in Sydney. “It’s difficult to be confident that it will continue at such a rate.”
China’s July coal imports fell 13 percent to 13.9 million tons from 16 million tons in June, a record high, customs data shows today. Demand from China, which uses coal to generate about 80 percent of its electricity, helped ease a global supply glut that sent U.S. inventories to an 18-year high.
Earnings Hit
A retreat in prices may curb profit at Xstrata Plc, the mining company that is the biggest shipper of coal for power stations, said Nick Hatch, an analyst at ING Groep NV in London. Coal was the biggest contributor to operating earnings last year for Zug, Switzerland-based Xstrata, which boosted output of the mineral by 11 percent in the first half.
“If China stops importing as much coal, it clearly may mean lower coal prices in the seaborne market, and that could have an impact on earnings,” said Hatch, who has a “buy” rating on Xstrata and mining companies Rio Tinto Group and Anglo American Plc, which also produce coal.
Claire Divver, a spokeswoman for Xstrata, declined to comment. Murray Houston, the general manager for the company’s South African coal unit, said on Aug. 13 that shipments to China will increase “due to a tight domestic market.”
Six-month supply contracts signed by Chinese buyers in February and March are expiring and aren’t likely to be renewed at the same amounts as global costs remain high and as domestic supplies rise, said Huang Teng, the general manager of Beijing LT Consultant Ltd., a coal consultant based in the capital city.
China Prices
Chinese provinces are accelerating the expansion of coal mines, the China Coal Transport and Distribution Association said in a statement on its Web site today. The reopening of small mines in regions including Shanxi will increase supplies and put pressure on prices. The benchmark price at Qinhuangdao port was unchanged for a third week at 570 yuan ($83.44) a ton on Aug. 24, according to the government-backed association.
Coal futures for September delivery at Rotterdam, the benchmark for Europe, have risen 39 percent to $72 a ton on Aug. 21 from this year’s low of $51.75 on March 12. Prices rebounded from a 35 percent decline last year, when the recession slowed demand for electricity. Supplies for delivery in January are trading 7.6 percent higher than the September contract.
Shrinking Premium
That premium for delivery early next year may shrink because China won’t be buying as much of the world’s surplus, said Amrita Sen, a commodity analyst at Barclays Capital in London. Coal delivered at Rotterdam will fall to an average of $67.20 a ton from $72 in the first six months, she said.
“China has been a key factor in providing a floor to prices and any softening in Chinese buying will pressure coal,” Sen said. “We will see a softening on a month-on-month basis in Chinese coal imports.”
An end to the global recession may trim the surplus. China has spent 4 trillion yuan in a stimulus package designed to support its economy. The world’s third-largest economy grew 7.9 percent in the second quarter from a year earlier after expanding at the slowest pace in almost a decade the previous three months, the statistics bureau said July 16.
‘Extraordinary’ Measures
“Price momentum and volume momentum are so strong, it’s difficult to see why the price should go down,” said Eugen Weinberg, a senior commodity analyst at Commerzbank AG in Frankfurt. “Measures to initiate demand are extraordinary.”
Drax Group Plc, the owner of western Europe’s biggest coal- fed power plant, has no plans to sell its surplus inventories of the fuel because the North Yorkshire, U.K.-based company expects the value of the commodity to increase.
“We see the coal market rising,” Chief Executive Officer Dorothy Thompson said in an Aug. 4 conference call with reporters. “It does not make sense to sell coal now.”
China, the world’s largest producer and consumer of coal, ordered the closure of almost all 10,000 of the country’s small pits during the Spring Festival in January, and plans to open some were delayed following a deadly accident in February.
An explosion at a shaft in Shanxi killed 74 and injured as many as 114 miners, leading to more intense safety checks. Small mines that account for about 25 percent of China’s production were told to merge and those deemed unsafe were closed.
Most Deadly
The nation’s coal mines are the most deadly in the world, with 3,770 workers killed in 2007, more than 100 times the number of fatalities in the U.S., the second-largest producer, according to government data. Suppliers kept old pits open, ignoring safety rules and forgoing routine checks, to meet surging demand from the world’s fastest-growing major economy.
The mine closures and lower prices led to an increase in purchases from overseas. Imports surged to 16 million tons in June, bringing the first-half total to 48 million, according to customs data. Thermal-coal futures in Newcastle, Australia, the world’s largest coal port, have rallied 22 percent from a low in March to $72.90 a ton on Aug. 21, according to ICE Futures.
While most of the world’s output is used near where it is mined, export prices are determined by the remaining 16 percent bought and sold internationally, data from the London-based World Coal Institute show. Thermal coal used in power plants accounts for 92 percent of global production and 72 percent of international trade, according to the U.S. Energy Department. The rest is mostly used in steelmaking.
Safety Checks
After completing safety checks and consolidating small pits that had an annual capacity of 300,000 tons or less, the province of Shanxi is accelerating the pace of mine openings to revive the worst-performing provincial economy in China. The region’s gross domestic product contracted 4.4 percent in the first half, according to government data.
“The province started approving restructuring plans in April and the process of consolidating mines has started,” said David Fang, the director of the international department at the China Coal Transport and Distribution Association. “Small mines are reopening gradually.”
Of the 10,000 small mines in China, about 2,598 are in Shanxi, according to the China Daily newspaper. Output in Shanxi may rise to 400 million tons in the second half from 250 million tons in the first six months, said Chen Jianhua, the president of Huadian Power, the fourth-largest Hong Kong-listed Chinese electricity generator. Chen expects Shanxi production to reach 650 million tons in 2009.
China produced 2.6 billion tons last year, according to the national bureau of statistics, which compiles data for the government. China is likely to cut imports by 33 percent in the second half of the year to 32 million tons, according to four analysts and industry officials in a Bloomberg survey.
Swelling Supplies
Reduced demand may swell global supplies that ballooned during the recession. Stockpiles held by electricity generators in the U.K., Europe’s biggest importer of coal, rose 68 percent in May from a year earlier to 17.4 million tons, the most since at least 1995, government data show.
“Europeans are fully stocked, but not reselling because they fear higher prices with an Asia-led economic recovery,” said Emmanuel Fages, a Paris-based commodities analyst at Orbeo. “The cost of carry for storing coal is cheaper than buying the coal for later delivery.”
U.S. Inventories
In the U.S., inventories jumped 15 percent in the first four months of the year, compared with a 1.1 percent gain in 2008 and 2.4 percent in 2007, Department of Energy data show. Stockpiles at the end of last year totaled 199.2 million short tons (180.7 million metric tons), the highest since 1991.
Global supply of internationally traded thermal coal is forecast at 633 million tons next year, exceeding demand by 14 million tons, according to forecasts from Macquarie Group Ltd., Australia’s largest investment bank.
The rapid increase in Chinese coal output may upset the calculations of producers in other countries, including the U.S., where exports rose 38 percent last year.
St. Louis-based Peabody Energy Corp. sold 16 percent of its coal production outside the U.S. last year, regulatory filings show. The company’s sales outside the U.S. climbed 30 percent to 40.3 million tons, outpacing total sales growth of 8.2 percent to 255.5 million.
“China has been an indirect market” for the U.S., said James M. Rollyson, an energy analyst at Raymond James Financial Inc. “It’s soaked up capacity from Australia, so it kind of makes waves into other markets.” |
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yes it will come down again but it further up. But before it goes down. It has to Hit $0.97 so till that target has been met. The price will still be climbing.
The 0.90+ Mark is here to stay.
iPunter ( Date: 24-Aug-2009 14:41) Posted:
It's the same every day and at every stage... When it was at .40, many will not dare to bet, but many also betted big... Same when it was at .50, then .60, then .70, .80... But at .95 now, it's not the same now... People's bull sense have been gradually raised after having missed so much $profits$... Now most are bullish and 1.20 is not far away... But before it goes to 1.20, or even beyond, it may go back down first ... the same psychology plays out again... No one knows tomorrow... But this stock is ideal for betting in... hehehe... 
risktaker ( Date: 24-Aug-2009 13:02) Posted:
In life you dont have many opportunity like this one. Some opportunity went by and thats it. Ask yourself how many of you missed the boat during march dip ?
Market correction will most likely come in during Mid or End of September to early Oct 2009.
In life everything is about timing & opportunity. When Genting is around $0.40 how many of you dare to enter ? 1000 lots is 400k compare to 1000 lots now which is over 900k. Ur a millionaire now if u mort your house and hammer everything into Genting. Pay off 400k for your loan and you still left 400k.
You have to ask yourself how you would want to live your life ? Then consider the amount of reasonable risk that you are willing to take.
HUAT ah |
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I think BB find it hard to crack that $0.95 - Sending soldiers back to camp :) Regrouping now
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this is a good shipyard in china. Hold it for long. $2-$3 within range
ozone2002 ( Date: 24-Aug-2009 14:33) Posted:
yeah back in favour again!
highest 1.02 |
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so how much of the 17k lots are you willing to contribute ? 5k ?
JJSeng ( Date: 24-Aug-2009 14:31) Posted:
Hi!...i think if u are hungry u can eat at your own pace. haha..I support u.
risktaker ( Date: 24-Aug-2009 14:18) Posted:
| Another good resistant at 0.95 almost 17k lots. What do you guys suggest ? Eat the 17k lots ? |
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Another good resistant at 0.95 almost 17k lots. What do you guys suggest ? Eat the 17k lots ?
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In life you dont have many opportunity like this one. Some opportunity went by and thats it. Ask yourself how many of you missed the boat during march dip ?
Market correction will most likely come in during Mid or End of September to early Oct 2009.
In life everything is about timing & opportunity. When Genting is around $0.40 how many of you dare to enter ? 1000 lots is 400k compare to 1000 lots now which is over 900k. Ur a millionaire now if u mort your house and hammer everything into Genting. Pay off 400k for your loan and you still left 400k.
You have to ask yourself how you would want to live your life ? Then consider the amount of reasonable risk that you are willing to take.
HUAT ah
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i believed in the afternoon they will test region 0.950
Huat ah :)
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A huge price movement will invite query from SGX. BB will try to avoid this. 1 lotters is ok and its not an offence.
bennykusman ( Date: 24-Aug-2009 12:02) Posted:
SGX wont knock on the door la... if they will, i think the BB who played 1 lot last week already being knocked down.. ehhee..
risktaker ( Date: 24-Aug-2009 11:19) Posted:
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Cannot shoot up like rocket ma. U want SGX come knocking on our doors meh ? We are investors not controllers :) |
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This is BB that is pressing the price down is really annoying. I wonder is it something to do with the call Warrants coming out.
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Well. I strongly believed 0.90+ is here to stay, as from what i see some big players will buy any amount of shares @ anything lower than $0.90.
Its still relatively safe to enter. Still on the buyer side for me.
But richtan has his point though :) BOSAYOR
richtan ( Date: 24-Aug-2009 11:09) Posted:
Just my advice, plse dun flame me.
Dun chase after stocks thinking "I will not be the last one to carry the baby", remember the "Greater Fool Theory".
I may be wrong but I m a very cautious person, better to be safe than sorry, I m not a risktaker.
There are many other opportunities and counters to make money safely in the mkt
Best of luck to those who are risktakers.
It is up to u whether to take my advice as I might also be wrong as mkts are irrational but best not to get carried away emotionally. I rather dun earn this type of money.
Trade with care, dun chase after stocks, dun be the last one to carry the baby when the musical chair stops, when the ballroom clock strikes 12(remember Cinderella's ballroom clock has no hands) , be careful of itrrational exuberance,
Dyodd n BOSAYOR. |
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Cannot shoot up like rocket ma. U want SGX come knocking on our doors meh ? We are investors not controllers :)
bennykusman ( Date: 24-Aug-2009 11:14) Posted:
so u and ur partner not buying this again to push the price ? tot u say that u want to push the price today ?
risktaker ( Date: 24-Aug-2009 10:18) Posted:
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My friend say this baby no power leh. Too busy with Genting. But he say long term is good. So u better hold |
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Hold :) dont sell yet. Its not the time.
cathylmg ( Date: 24-Aug-2009 10:30) Posted:
| Looks like its attempting to clear 945 liao. Hopefully it can clear. |
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Huat ah
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