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SGX
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solar2000
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10-Oct-2007 14:21
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IMO, any counters that is less than 20% off TP is overvalued right now. In my understanding... TP is 12 mth target...meaning year end. Now is October, 3 mths more.....shld be ard 20% less. (exclusive of any unannounced good or bad news that is) So any counters thats less than 20% off TP...shld not buy...or rather shld sell... Personally, I only buy those counters with over 30-50% upside of TP.. |
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EastonBay
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10-Oct-2007 09:43
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and yet another bank is saying they are neutral about SGX.. SGX: M&A angle remains in focus (OCBC 101007) Summary: Singapore Exchange (SGX) posted record 1QFY08 earnings of S$130.0m, up 173% YoY. Improvements came from all segments, supported by strong trading activities from securities and derivatives markets. Within the last 2 months, SGX's stock price has almost doubled brought on by M&A talks. This was fuelled by the recent 3-way deal between Borse Dubai, Nasdaq Stock Market and the Nordic exchange operator OMX AB. We expect the present bullishness to continue for a while, with heightened interest in stocks, warrants and other derivatives products. SGX has declared an interim dividend of 3 cents tax exempt with book closure on 26 Oct 2007. With the strong 1Q results and better market momentum, we are raising our FY08 earnings estimate from S$287m to S$471m. The M&A angle has also raised peers' valuations to around 38x. Using 35x FY08/09 blended earnings, we are raising fair value to S$16.20. We maintain our HOLD rating on SGX. (Carmen Lee) |
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EastonBay
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10-Oct-2007 09:23
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correction, I think u shd say in CIMB's view, sgx over speculated... There are many other houses apparently do not share this view, for example Goldman Sach's target is $18.40. Should I put a post that says SGX underspeculated, unvalued? Just to illustrate that one should not make a sweeping statement just by reading one report. SGX, gs remains a BUY with target price $18.40 8-Oct-2007 - We are raising our FY08E/FY09E EPS by 35%/41% (20%/26% above consensus) to reflect robust turnover (daily avg. up from S$2.2 bn in 1H to S$2.8 bn in 2H to-date; 2-w moving avg. up from S$1.9 bn in early Sept. to now S$2.9 bn), and estimate daily turnover of S$2.9 bn/S$3.3 bn (velocity of 70%) in FY08E/FY09E. - Despite the recent share price rally, we stay bullish on SGX as we believe turnover will remain robust given 1. Continued domestic reflation and benign/falling interest rates. 2. The still-low velocity of the Singapore stock market (72% ytd vs. 82% historical peak; 90%-200% for Asia and over 200% for US/Europe ytd). 3. Good momentum in foreign listings, which enjoy higher velocity than domestic stocks (68% versus 62% in FY2007). 4. Tick size reduction to reduce transaction cost and raise velocity. 5. New products (stock/index derivatives, OTC/commodities, trading links). 6. Business synergies between SGX and BSE and TSE (e.g. product development; potential dual listing and trading link arrangements). - We affirm our Buy rating and raise our 12-month target to S$18.4 (33X calendar 2008E EPS) from S$11.8 (30X calendar 2008E EPS). We continue to see SGX as an appealing M&A play off a unique derivatives/foreign listing franchise, and given the open-minded stance of MAS/SGX. We believe TSE could possibly raise its stake in SGX from 4.99% should their collaboration with SGX prove successful. - Exchanges are high-beta, if not binary, stocks. There is ongoing debate as to whether the turnover pullback in Sept. is a temporary blip or an inflection point. We take the former view but are mindful of the risk to earnings and supportable valuations should it prove to be the latter. |
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solar2000
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10-Oct-2007 02:44
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SGX over speculated... read this latest CIMB report: http://www.remisiers.org/research//SGX-091007.pdf Target: S$14.20 Downgraded to Underperform |
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chunster
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08-Oct-2007 22:04
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Hi Hi, I am new to this forum. Anyone care to share your thoughts on how the SGX financial result announcement tomorrow have any effect? |
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singaporegal
Supreme |
08-Oct-2007 20:28
Yells: "Female TA nut" |
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TA charts still looking strong. |
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lucky168
Veteran |
08-Oct-2007 18:48
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dizzy very dizzy |
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winsontkl
Elite |
08-Oct-2007 18:43
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Cheong all the way hitting TP $17 and close at cool $1 gain at $16.40..... |
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EastonBay
Master |
05-Oct-2007 10:33
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limhpp, there are quite a lot of existing 'literature' on knowledge of shorting in this very forum... search for it.. a few different threads at least because people keep asking the same question. |
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limhpp
Veteran |
05-Oct-2007 10:07
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Hi, anyone can share... If you short, must you cover within the same day? |
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EastonBay
Master |
04-Oct-2007 23:50
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viruz, don't worry, your remiser will call you if there is a naked short.. and he/she will tell you that you are subject to sgx buy in! |
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viruz7667
Senior |
04-Oct-2007 21:23
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Hi Nick Care to share what how u go about "naked short" after T+3 and u do not own the stock? Thanks so much!  |
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nickyng
Supreme |
04-Oct-2007 14:47
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well...i think normal account can short..i m using uobkay anyway...dun think their system got the intellgient to tally and chk ur CDP account holdings :P waiting to SHORT SIA...but opportunity has no arised yet..hee... |
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prolink
Member |
04-Oct-2007 11:49
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Bru nick, Using normal account also can short rite...please advice. Which counter are to to short? |
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nickyng
Supreme |
04-Oct-2007 11:23
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dont worry i will attempt to SHORT it to make it affordable for u guys to load :))))))))))))))))))))) |
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dcang84
Veteran |
04-Oct-2007 10:08
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<JP Morgan raise its target price to 17.00, how true is it? > It's true, $17 is the magical number. |
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raymondho
Senior |
04-Oct-2007 00:07
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Ya, I do agree with Singaporegal, TA chart is beautiful, strong and alert, closing at the middle of the daily bar, tmr may be 50 to 50 up or down, i guess.. Some info said JP Morgan raise its target price to 17.00, how true is it? |
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techsys
Master |
03-Oct-2007 23:23
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I always think if you can buy this counter .. you should be long term player. 
But, don't like to play this counter, for fast money I would prefer forex. |
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solar2000
Member |
03-Oct-2007 23:19
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Dont be too sure... I reckon SGX wil fall to 13+ next one week... Now in overobught region... |
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techsys
Master |
03-Oct-2007 22:50
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I think SGX will never looked bad singaporegal ...
Everyone make money in it. No matter we loss or win .. we pay them. It's just the matter of high season or trading holiday season ... Unless there is disaster ... 
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