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Noob79
Master |
17-Jan-2011 15:35
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It seem GAR to be well supported at 0.76 :O | ||||
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epliew
Supreme |
17-Jan-2011 14:21
Yells: "no worries be happy !" |
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HONG KONG/SHANGHAI (Reuters) - Chinese shares slipped on Monday, heading towards a key near-term support level, after a rise in lenders' reserve requirements and talk of a property tax in Shanghai kept bank and developer stocks under pressure. China's key stock index dropped 2.1 percent at midday after the People's Bank of China announced a rise in lenders' required reserves for the fourth time in just over two months as it battles inflation. Hong Kong's Hang Seng Index slipped 0.3 percent, easing from a two-month high, and reversed earlier mild gains as advances in technology and local commercial property shares were not enough to keep the benchmark in the black. China's central bank raised banks' required reserves by another 50 basis points, effective Jan. 20, as it makes fighting inflation one of its top priorities for the new year. "The RRR hike strengthened expectations of further tightening steps, including a possible interest rate hike," said analyst Li Wenhui at Huatai Securities in Nanjing. "But Monday's fall appeared to be excessive as a RRR hike is not such a stern tightening step," he said. "The index should be able to find a support soon, possibly around 2,700 points." Banking and property stocks were hit the hardest as cash supply in these sectors will be heavily affected by quantitative tightening steps and will eventually trim corporate earnings. The property sub-index fell 3.8 percent. Shanghai's mayor said on Sunday that one of the city's main tasks this year would be to prepare for the trial run of a property tax to curb speculative investments in the real estate sector. Top lender ICBC dropped 2.8 percent, while the biggest listed property developer China Vanke tumbled 4.4 percent. Shanghai's property index dropped 3.8 percent. As an indication of less cash flow, China's benchmark money rate, the weighted average seven-day government bond repurchase rate , rose nearly 6 basis points to 2.5865 percent at midday. HK LOWER, CHINA BANKS WEIGH Mainland banking shares were lower in Hong Kong which offset gains in local developers and internet firm Tencent Holdings and dragged the broader market lower. Commercial property developers rose with traders pointing to reports which said rents rose between 56 percent to 140 percent on recent contract renewals. Wharf Holdings rose 1.8 percent with shares hovering near a record high hit earlier this month. Cheung Kong Holdings rose 2.3 percent. However, shares of the heavily weighted mainland banks tracked declines of their Shanghai-listed counterparts and weighed on the broader market. "Investors should be cautious that the recent Hong Kong market rally is concentrated on some large-cap stocks with heavy weightings in the HSI rather than market-wide," said Alan Lam, Greater China analyst at Julius Baer in Hong Kong. "We have also seen recent corrections in some Asian markets last week due to capital withdrawal," said Lam, who recommends investors should look to book some profits when the Hang Seng index nears the 24,500 level. Shares of Tencent, China's largest online gaming company, rose 2.2 percent. Tencent shares have risen 21.6 percent since the beginning of the year, the most among benchmark constituents, after a rare year of underperformance relative to the Hang Seng in 2010. Since listing back in 2005, Tencent shares have outperformed the Hang Seng significantly each year except 2010, when its flat returns lagged the Hang Seng's 5.3 percent advance. With shares of the company trading at a record high and looking overbought on the charts, some analysts are cautious on investors getting in at these levels. Johnie Hu, analyst at BOC International, reiterated his "sell" rating on the stock, saying investors should take profit after the recent rally amid uncertainty over the impact of new Internet regulations on the company's operations. |
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bladez87
Master |
17-Jan-2011 14:06
Yells: "I AM PAPER TRADING AFTER LOSING 5k!" |
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3 cents up for sunpower. really powerful sia. regrettttttttttttttttttt taking so long to decide. and with each climb i feel more sian lol. | ||||
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eastcivic
Elite |
17-Jan-2011 14:01
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lol no worries..... i did not feel any salt lol :D
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epliew
Supreme |
17-Jan-2011 13:58
Yells: "no worries be happy !" |
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wow, you got two brains or what.... such good memory.....
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Gaecia
Elite |
17-Jan-2011 13:58
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ok bye bye, nd to go. | ||||
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Gaecia
Elite |
17-Jan-2011 13:56
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nope didn't rub salt, i also have s-marine & its a great blue chip to ride up & down. I'm looking at consolidation to be over by this wed/ thurs, if support doesn't hold i will bail whichever comes first.
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eastcivic
Elite |
17-Jan-2011 13:53
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oh, actually 5.14 was really really close to my stop-loss price.... lol :P
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Gaecia
Elite |
17-Jan-2011 13:52
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brent crude touched peak of USD147 in 2008, not 100 bucks. i can remember things vaguely enough. |
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epliew
Supreme |
17-Jan-2011 13:52
Yells: "no worries be happy !" |
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yo gaecia, be nice....very painful already.... no salt please.....
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eastcivic
Elite |
17-Jan-2011 13:51
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lol yah..... ratio from my first profit-taking price against my stop loss price is only 1.6:1...... :P
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Gaecia
Elite |
17-Jan-2011 13:50
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whoa ec, that means your stop loss is set wide apart lah. It went back to touch 5.14 the other day your order also not triggered. *chuckles*
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eastcivic
Elite |
17-Jan-2011 13:42
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ok thanks! hmmm when i entered, i set stop-loss already..... so far have not stopped out yet.... hopefully it will not be stopped out :D
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epliew
Supreme |
17-Jan-2011 13:35
Yells: "no worries be happy !" |
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yes, i asked you because u reservist mah....thought can tell you maybe can cut down holdings.... me, reservist play stock always too slow to react......but semb mar, one of my favourite..... got money keep for a while. ya but 5.15 very tempting.... u better ask BT..... oil price damn high.... last time oil price 100 dollars the whole economic collapse....
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iPunter
Supreme |
17-Jan-2011 13:30
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You are right... Patience is a virtue in trading...  |
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eastcivic
Elite |
17-Jan-2011 13:19
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lol thank you ipunter expert for your compliments.... but i look left, right, center, up and down and yet i can't see any potential in me to be an expert trader.... :D when i entered sembmar, my target profit vs stop loss price ratio is 1.8:1..... looking back, this bet seems wrong because i should have waited for a better ratio before entering....
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iPunter
Supreme |
17-Jan-2011 12:49
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Your post shows that you are a potential expert trader... Once you have decided how much to lose, you should 'stick to your guns', no matter what happens ie.wait to be stopped out. But if you must monitor the actual real-time price action itself to get an idea of the 'pulse'. Ideally, one should let profits run to be more than a loss. But sometimes, if the price action itself does not suggest that to be likely, one can always grab the profit, since if one' let it run', it may easily run away... In matters of risk, it's all a matter of compromising...
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eastcivic
Elite |
17-Jan-2011 12:20
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ya i'm still fighting the temptation to average down..... :D i have a question... when one makes a bet.... if the price goes down but have not reached the cut-loss price yet.... what does one do? just wait for two outcomes? 1 outcome - cut-loss to be triggered and 2nd outcome - the bet is correct?
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Noob79
Master |
17-Jan-2011 12:19
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Hi crystal i rather u go take LVS, MGM or WYNN traded in NYSE far better than GenSP as they all got business Macau... :)
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crystal1818
Veteran |
17-Jan-2011 12:16
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Thanks for responding. I also very scared to get burnt... :( From the chart it seems that the upside is very minimal. Ok, will wait for the safe zone of 2.13 - 2.15 before buying.
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