ShareJunction - Member Posts

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From OCBC Investment Research:

Midas's firm order book of 1.4 billion yuan (S$296 million), more anticipated contract wins in Sept - Nov 2009...

will serve to under-gird valuations"

scyiptw ( Date: 27-Aug-2009 09:50) Posted:

Hi richtan,

From the daily chart, it seems that Midas is loosing momentum since the 10d ROC & Momentum is pointing downward, as well as there is a divergence on the MACD slope. My personal opinion is that it might be trading between 0.83-0.88 in the near term. I am new to TA, please correct me if I am wrong.

richtan ( Date: 27-Aug-2009 09:42) Posted:

At this point in time, green candle engulfed yesterday's green real body and riding on the 15ema wave.

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MIDAS / Midas / Posted: 25-Aug-2009 10:04 4Go to Message

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From OCBC Investment Research:

Shanghai Stock Exchange Composite (SSEC) – Retesting the 3000 key resistance

More upside in the coming week: SSEC is likely to re-test the 3000 key support-turned-resistance level in the coming week after staging a strong rebound off its 8-month downtrend line.

Indicators show signs of a turnaround:With the RSI already showing oversold signals and the MACD showing a possible bottoming, the bearish momentum could be coming to an end soon.

scyiptw ( Date: 27-Aug-2009 09:50) Posted:

Hi richtan,

From the daily chart, it seems that Midas is loosing momentum since the 10d ROC & Momentum is pointing downward, as well as there is a divergence on the MACD slope. My personal opinion is that it might be trading between 0.83-0.88 in the near term. I am new to TA, please correct me if I am wrong.

richtan ( Date: 27-Aug-2009 09:42) Posted:

At this point in time, green candle engulfed yesterday's green real body and riding on the 15ema wave.

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Hi,

TA means Technical Analysis. See my advice and reply below to another forumer also new to TA

thmejlfm ( Date: 27-Aug-2009 10:20) Posted:

Hi! I am new here. Would like to know what is TA?

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From Next Insight:

Railway-building frenzy in China

Written by Andrew van Buren (China correspondent)
Tuesday, 25 August 2009
The following is a translation by our China correspondent, Andrew van Buren, of a recent article on www.fec.com.cn SGX-listed Midas Holdings designs and manufactures aluminium alloy products (above) for the production of train carriages. BY YEAR-END 2008, China already had 29 key subway lines with 10 cities having a total of 776 kilometers of track. Annually, subway cars carried passengers on 2.21 bln separate trips last year. Beijing, Shanghai and 15 other cities have a total of 50 tracks and 1,154 km of lines still under construction, said Mr. Lu Kehua, director of the urban/rural section of the department of Construction Bureau at the State Council. Currently, there are approximately 27 cities in the initial planning stages for launching their own subway systems. Among them, 22 have received start-construction approval from the State Council. Up to 2015, Beijing, Shanghai, Guangzhou and 19 other cities will have built 79 subway lines totaling 2,260 km with total investment of 882.0 bln yuan. Earlier this year, the National Development and Reform Commission's (NDRC) Mr. Wang Qingyun, director of the infrastructure department, said the commission has already approved – or is on the verge of approving – 23 urban subway projects. Mr. Lu Kehua said that the above approved project tallies do not include those proposed subway systems still under construction. This means that in 2015, China will have a total of 158 lines totaling 4,189 km. According to information from industry insiders, the entire approval process exercised by the NDRC requires at least three levels of authorization, in addition to mandating that cities under consideration for a subway system must have at least three mln inhabitants and a gross domestic product (GDP) of over 100 bln yuan. In addition, projects should receive at least 10 bln yuan from local financing. And as for light rail urban lines, the required figures need only be 60% of those stipulated for subway lines. Currently, 50 cities across China have plans for such systems that meet or surpass all the above requirements. Is the credit nightmare over? Actually, this is not the first time in China’s relatively short period of rapid economic development that several cities have had simultaneous plans to develop their own subterranean mass transit systems. Some cities have had such dreams for decades and railcars can already be heard rumbling beneath many of their major street-level thoroughfares. Due to concerns that a herd mentality would ensue as cities sought to keep up with their peers in the public transport drive and the status and investment that such amenities bring, the State Council on at least two occasions issued a “stop work” order and a temporary moratorium on new project approvals to prevent a frenzied nationwide subway digging campaign from getting out of hand. In 1995, directive No.60 of the State Council issued such a “stop work” order and put a freeze on new project approvals. In October of 2002, the State Council once again ordered subway projects across the country to halt construction. Some of the more notable projects affected by this moratorium at the time were lines in Hangzhou, Shenyang and Shanghai’s M8 line. According to analysts, the main incentive for regulators to issue “stop work” orders is over fears that various subway projects have become bottomless pits with no clear timeframe for profitability, and with legacies that bequeath massive financial burdens to local communities for years on end. According to industry insiders, 700 mln yuan of investment is required for each kilometer of track, which many city officials consider to be far too exorbitant and out of their respective budgets. This led to two embarrassing examples of half-finished projects in the mid-1990s due to a sudden drying up of funds in both Chongqing and Qingdao. The conundrum is that a fast growing city economy will provide the required GDP to authorize a subway system, as well as a growing sense of pride mixed with some sense of entitlement among the hardworking denizens of the city. But fast economic growth also encourages riskier lending practices on more generous terms that can backfire and leave city officials and planners red-faced as they stand over half-finished holes in their downtown centers. “We are very happy to have this chance for development. If there was no global economic crisis, then applications and approvals would not be flowing in at this pace. It is both a function of the government’s drive to boost domestic demand and bolster the local economy,” said an expert on the ongoing Nanchang city subway project

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Hi scyiptw,

All these are lagging indicators, the leading indicators are the candles and its pattern, when the candles go up, it will pull up all these lagging indicators, so 1st priority is to look at the candle, its pattern, the ema and the trend, the trend is your friend.

Divergence is drawn from peak to peak not by the look of the slope, in any case, the gap between the blue and red line is narrowing and the blue line is hooking upwards.

Look at the chart and u will notice tat it is riding on the 15ema and trending up with the 25ema n 65ema.

It may have corrections in between but the trend as shown by the 65ema is trending upwards.- the trend is your friend.

Just look at any stock charts and u will notice tat stocks dun go up in one straight line, bound to have profit-taking,

corrections and consolidation.

To succeed in trading, my sincere n genuine advice to newbies:

"Learn to master TA n u are the master of your own trades."

"Learn how to fish n u can fend for yourself forever, relying on others n forever u r dependent on others n at their mercy"

"There is no easy way n short-cut to success in life, including trading, all are own hardwork, u need to learn the tools of the trade"

U can download the free charting software from www.chartnexus.com (no need to get the paid version, all these can be self-learn,
dun waste your money, instead self-learn the skills n use tat money to trade).

I self-learnt, see how analysts do it and practice by covering up the candles and test my knowledge and hone my skills
till I m quite confident b4 start trading bcos the mkt is merciless, I rather save the money to trade and multiply it.

Those TA courses, wat they teach, all are from books, nothing new.

For those paid software,even after the software scan, still need our analysis, cannot assume it is 100% correct, as
nothing can replace the human brain and knowledge as analysis is an art of how individual interpret, no matter how much
they input all the scientific knowledge into the software

If u are not sure, post your charts n hopefully some forumers good in TA will exchange pointers with u.

To know how to post, search the forum for "tinypic.com"

I had created 3 threads dedicated to newbies under "General", "Trading Techniques":

1. "Learning TA" - websites where u can learn TA for free but of course, TA is not infallible, thus need to set stop-loss)

2. "Some recommended good Trading and TA books" - of course u can also buy TA books.

3. "Advices to newbies" particular the 3 golden mantras.

Take your time to read and learn, dun rush, remember "Rome was not built in one day"

scyiptw ( Date: 27-Aug-2009 09:50) Posted:

Hi richtan,

From the daily chart, it seems that Midas is loosing momentum since the 10d ROC & Momentum is pointing downward, as well as there is a divergence on the MACD slope. My personal opinion is that it might be trading between 0.83-0.88 in the near term. I am new to TA, please correct me if I am wrong.

richtan ( Date: 27-Aug-2009 09:42) Posted:

At this point in time, green candle engulfed yesterday's green real body and riding on the 15ema wave.

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Vol within one hrs trade aredi one third of yesterday's vol.

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Patience has its virtues.

Congrats especially to those who followed my postings and chart analysis and dared to buy since last few days when it

presents many good opportunities when it bounced off the 15ema and 25ema

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Trade Summary still shows heavy humongus buy-up:

5GJ (AusGroup)

WEIGHTED AVG PRICE : 0.7187 LAST DONE PRICE : 0.735

SPREAD/PRICE RATIO : 0.0068 AVG TRADE SIZE : 67.32

< />

Last Trades Vol BuyVol Mid SellVol

0.705 43 1,812 1,723 0 89

0.710 72 5,894 4,320 0 1,574

0.712 1 30 0 30 0

0.714 2 744 0 744 0

0.715 208 11,945 5,667 0 6,278

0.717 2 130 0 130 0

0.719 2 265 0 265 0

0.720 109 8,648 0 0 8,648

0.725 19 4,218 1,631 102 2,485

0.729 1 120 0 120 0

0.730 141 7,218 1,376 0 5,842

0.735 13 243 0 0 243

TOTAL 613 41,267 14,717 1,391 25,159

fartist ( Date: 27-Aug-2009 09:41) Posted:

Hi y'all!

Can someone post the time and sales for this counter today? Seems like it may actually beat ytd volume, my ie cant show dont know why. Good day!

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At this point in time, green candle engulfed yesterday's green real body and riding on the 15ema wave.

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Posted: 26-Aug-2009 23:06 Contact richtan * Quote this Post!
x 0 x 0 * Alert Admin	The higher a bomb goes, the harder the impact when it drop. Those who buy now will be very tense, not knowing when the plug will be pulled. Real gambling stock, even the share price is like playing inside the casino, high bets, high risk. Anyway, good luck to those risk-takers

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Rate This Topic
richtan Elite	Posted: 26-Aug-2009 23:22 Contact richtan * Quote this Post!
x 0 x 0 * Alert Admin	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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It depends on individual strategy, a gambler, risktaker (as befits your nick) trade based on intraday price movements but a conservative EOD trader trader (like me) based on EOD data

risktaker ( Date: 27-Aug-2009 08:44) Posted:

EOD is too late :) its ok la. Different people see things differently. You have your points I have mine. Good luck today. Finger Cross

richtan ( Date: 26-Aug-2009 22:51) Posted:

My advice is never to "think" ie pre-empt the mkt during the trading intraday, let the mkt tells u by the EOD data and plan the next day action.

This is from my peronal experience from all these years of trading n review of my mistakes made as I strive to hone and sharpen my trading skills

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[BrokeragesReport]

Australia approves $42bn LNG project (Gorgon project - AusGroup and Ezion also involved)

Australia approves $42bn LNG project

http://www.ft.com/cms/s/0/6bf12dc2-91f0-11de-879d-00144feabdc0.html?ftcamp=rss&nclick_check=1

By Peter Smith in Sydney

Published: August 26 2009 05:21 | Last updated: August 26 2009 05:21

Gorgon, one of the world’s biggest liquefied natural gas developments, cleared a significant hurdle on Wednesday when Australia’s federal government granted environmental approval for the A$50bn (US$42bn) project.

Canberra’s decision paves the way for Chevron, the US oil group that is 50-per cent owner and operator of Gorgon, to make its “final investment decision” to develop the project’s gas fields off the coast of Western Australia within months, the company said in a statement.

However, Asian countries, led by China, have already set themselves up to be major customers of Gorgon LNG.

PetroChina, China’s largest energy company, this month agreed to buy US$41bn worth of Gorgon LNG over a 20-year period from ExxonMobil which, together with Royal Dutch Shell, owns the rest of Gorgon.

Shell signed a “sales and purchase” agreement with PetroChina for Gorgon LNG in 2007 while Chevron has agreements with three Japanese utilities.

Gorgon is one of the most ambitious of around 10 LNG projects being developed in Australia.

Peter Garrett, minister for the environment, said Gorgon had undergone a high level of scrutiny before it was deemed acceptable.

He said the “key focus” had been whether Gorgon’s expansion could manage the potential impact on protected species such as the flatback turtle and terrestrial fauna.

Canberra’s approval of Gorgon had been widely expected given the significant long-term benefits the project will provide to the Australian economy, including tens of billions in tax revenues and thousands of jobs.

However, an oil spill off the Western Australian coast last Friday has provided ammunition to environmentalists who believe LNG projects pose material risks to wildlife along Australia’s pristine coastline.

Roy Krzywosinski, Chevron Australia’s managing director, said Gorgon had global significance with a resource base of more than 40,000bn cubic feet of gas and an estimated economic life of at least 40 years from the time of start-up.

“[It] is Australia’s largest single resource project and is set to deliver significant economic benefits and create around 10,000 indirect and direct jobs during peak construction,” Mr Krzywosinski said.

Chevron said the project had been deliberately sited to avoid areas of particular conservation significance.

“The three-train Gorgon will have minimal additional environmental impact when compared to the already-approved two-train project,” Chevron said. An LNG train is a gas processing facility.

Chevron plans to build three 5m tonne per annum LNG trains, one of the world’s largest carbon dioxide injection projects as well as a domestic gas plant.

Australia’s Environmental Protection Authority (EPA) gave conditional approval for Gorgon’s expansion in May.

The EPA said that Gorgon’s location on the Barrow Island nature reserve would need to deal sensitively with flatback turtle rookeries and it was also concerned about the impact of dredging and marine infrastructure on the coral habitat.

The Western Australian government in 2007 overruled the EPA’s recommendation that ”industry should not be located” on Barrow Island.

Chevron is still negotiating a number of state and federal approvals, including production licences and development applications. These discussions are unlikely to disrupt Gorgon’s development plans.

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U r most welcome, it is my pleasure n passion to share

tea444u ( Date: 26-Aug-2009 23:37) Posted:

Thank you Mr Bintang and Mr Rich Tan... Gosh I should have paid attention to Ausgrp long ago.. will see how it goes... but still hope to get a few first at least.

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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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The higher a bomb goes, the harder the impact when it drop. Those who buy now will be very tense, not knowing when the plug will be pulled.

Real gambling stock, even the share price is like playing inside the casino, high bets, high risk.

Anyway, good luck to those risk-takers.

risktaker ( Date: 26-Aug-2009 19:30) Posted:

Of course we cannot expect Genting to go up everyday. Its not the time yet, that a bomb will be dropped.
However, when the bomb is dropped someone will be there to cover it. So don worry much about the bomb.

Genting recently has gotten a "shield from a powerful BB" :)

Buy = Winner Side

HUAT AH

richtan ( Date: 26-Aug-2009 18:48) Posted:

U bet!! It sure is, waiting for tat bomb to drop when the plug is pulled, when ?? anybody's guess

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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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My advice is never to "think" ie pre-empt the mkt during the trading intraday, let the mkt tells u by the EOD data and plan the next day action.

This is from my peronal experience from all these years of trading n review of my mistakes made as I strive to hone and sharpen my trading skills

risktaker ( Date: 26-Aug-2009 19:13) Posted:

Pie Seh. I say dun chase in the morning because .... midas is @ 0.87 because i "think" it will drop below that in the afternoon. If you hold this in a long run you will be fine. Contra players pray hard that US will go up today. Then hopefully the BB wanted to sell higher.

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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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Whether to buy or not is very personal decision.

It all depends on individual strategy, whether u are short-term, mid-term or long-term player, your risk-tolerance level n threshold of pain.

It may have mild pullbacks consolidation or it may also continues upward as wat is o/b can be even more o/b .

If u decide to buy, remember to set stop-loss.

Dyodd n BOSAYOR

tea444u ( Date: 26-Aug-2009 17:12) Posted:

Hi Ausgrp holders.... can i still buy at 71? seems like it just strated its superbullish mode? can any share please? thank you.