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STI to cross 3000 boosted by long-term investors
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cathylmg
Elite |
11-Jan-2011 10:58
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Looks like it going to be down for the week. Stochastics takes time to come down. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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des_khor
Supreme |
11-Jan-2011 10:52
Yells: "Tell me who is the God or MFT from this forum??" |
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look the strenght like this and feel like STI going to toilet soon..... reduce reduce..... |
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Bon3260
Supreme |
11-Jan-2011 08:35
Yells: "Ooo Ooo Aaa Aaa!" |
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4 those short term players, if Hangseng today drop more dan 400pts. Means hv 2 cut loss... Those Counters oredi consolidated since last yr begining of Dec10. Wun expect 2 drop much even if corrections. Cos smart pple wun dare 2 sell shorts... As 4 me, I still c dat Huge Cow on e street tis morning...
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krisluke
Supreme |
10-Jan-2011 23:51
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"I wish I could turn back time" |
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krisluke
Supreme |
10-Jan-2011 23:47
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" Congrats to those who had profit at THE PEAK." |
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krisluke
Supreme |
10-Jan-2011 23:42
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whAz !! neck line bROken ... ... sight LNY no rally IsiT ? ?? |
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Isolator
Supreme |
10-Jan-2011 23:39
Yells: "STI is hard landing to below 2000..." |
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I thought can see below 3200 today closing.... Need to wait 1 more day... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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krisluke
Supreme |
10-Jan-2011 23:36
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ppl says obama may just pay us$200 for his job or perhaps get nothing. every year this period (jan-feb) market sure corrected !! dunno was it a trend ? ?? This week hear DJ EQ reports lor .... .... lOok sEe loOk seE and hOw hoW... .... "sell in may and go away" aka EQ2 will happen again or not ? ?? ppl says EQ2 alway not good, is it true. but global street talk says everything will be OK in Q2 .... ... ARhHHHHhhHH.. headache !! !!! |
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ktnpl2005
Member |
10-Jan-2011 22:27
Yells: "Be Happy!" |
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Not always. Many had popped champagne last week. Now is a reversal.
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enghou
Senior |
10-Jan-2011 22:14
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Technical Comment from DBS We maintain our technical view for the index to head for 3438 by 1Q11. While positive, we also maintain our view that the index’s rise that started from 20th December pausing for a breather around mid-January. Short-term technical indicators are becoming overbought and some investors may choose to lock in gains ahead of the Lunar New Year holidays that fall on 3rd February. In the near-term, we see resistance at 3310 but support around 3200 should hold. Our index technical objective ties in closely STI target of 3500 based on 15.8x (+0.5SD) FY11 earnings. Even as the local bourse enter the 3rd year of the post-crisis recovery, the underlying tone for equities remains firm for 2011, underpinned by 1) continued capital inflows 2) attractive PE valuations compared to regional peers 3) recovery phase that is starting to favour index heavyweights such as Financials and Offshore & Marine companies. The bottom-up derived STI target is even higher at 3600. Life Is Great |
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SGG_SGG
Master |
10-Jan-2011 22:05
Yells: "karma karma karma chameleon" |
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Ooppss..... so much doom and gloom......... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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ktnpl2005
Member |
10-Jan-2011 21:31
Yells: "Be Happy!" |
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Slump this week |
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krisluke
Supreme |
10-Jan-2011 20:57
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" No worry , Be happy. " Learn more, Click !! Elliott wave rules |
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krisluke
Supreme |
10-Jan-2011 20:49
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sti completing its 5th wave. can expect a correction anytime. longer perspective, its set to climb higher ^-^ // source from chartist; synapsetrading // (: |
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krisluke
Supreme |
10-Jan-2011 20:39
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sti completing its 5th wave. can expect a correction anytime. longer perspective, its set to climb higher ^-^ // source from chartist; synapsetrading // (: |
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niuyear
Supreme |
10-Jan-2011 17:09
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2011 year for US$, hope it could surge.. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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krisluke
Supreme |
10-Jan-2011 17:07
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* Report on new property tax weighs on HK, China stocks * China-focused property plays worst-hit in Hong Kong * China Vanke down 2 percent in active trade * Ample liquidity may help prop up stocks - analyst (Updates to close) By Kelvin Soh and Chen Yixin HONG KONG/SHANGHAI, Jan 10 (Reuters) - Hong Kong and China stocks retreated on Monday as property and banking issues fell on a report that the southwestern Chinese city of Chongqing may impose a property tax in the current quarter. The benchmark Hang Seng Index <.HSI> closed 0.97 percent or 159.37 points lower at 23,527.26. The China Enterprises Index <.HSCE> of top locally listed mainland stocks fell 0.92 percent to 12,806.59. Shanghai's benchmark Composite Index <.SSEC> eased to 2,791.81 points, falling past the 2,800-point psychological level and the 250-day moving average, now at 2,836 points. "The fundamentals of these stocks haven't changed," said Ben Kwong, chief operating officer at KGI Asia in Hong Kong. "The government is trying to keep inflation in check, and this will mean that the major banks and property developers will have to step in line." The China Securities Journal reported that the southwestern Chinese city of Chongqing was set to become the country's first to introduce a long-debated property tax as part of efforts to fight sky-high house prices. Among China-focused real estate developers in Hong Kong, China Resources Land Ltd <1109.HK> dropped 3 percent and Hang Lung Properties Ltd <0101.HK> fell 2.3 percent on concern that the new tax could hit buyers looking at second or third properties. Hong Kong developers Sino Land Co Ltd <0083.HK> and Henderson Land Development Co Ltd <0012.HK> were also dragged down, falling 0.88 percent and 0.62 percent, respectively. REBOUND AHEAD? The Hang Seng Index's slow stochastic, an indicator of short-term trends, is now being pulling back from oversold territory for the first time this year, suggesting that buying could soon resume. Further falls on the Shanghai bourse could also be limited as it remained abundant with liquidity, said Haitong Securities analyst Zhang Qi. "Don't be too negative now," said Zhang. "It may be a correction. An abundance of funds and optimistic company earnings may support the market." Property counters in Shanghai initially showed a limited reaction to reports on property taxes but came under selling pressure in afternoon trading as investors digested the news. A sub-index of property companies <.SSEP> fell 2 percent. China Vanke Co Ltd <000002.SZ>, the most active stock in the Shenzhen market, fell 1.7 percent, while Gemdale Corp <600383.SS>, the third most active stock in the Shanghai market, was down 2 percent. The index of small-cap companies <.CSI500> fell 2.9 percent, underperforming the broader market's decline, after the head of China Securities Regulatory Commission said China might get rid of poor-performing second board stocks. The small and second board indexes fell. Medical appliance maker Wuhan Humanwell Hi-tech Industry Co Ltd <600079.SS> was among the biggest losers in the Shanghai market, falling 9.2 percent, while Nantong Jinghua Pharmaceutical Co Ltd <002349.SZ> fell 6.3 percent. Among gainers, China Hainan Rubber Industry group Co Ltd <601118.SS>, the most actively trade share in the Shanghai market, jumped by its 10 percent daily limit after a strong debut on Friday. About 2,000 listed companies in China are set to report their 2010 annual results from now until the end of April. Overall corporate earnings are believed better than previously expected, possibly rising as much as 40 percent in 2010 from 2009. But most companies typically report their profits starting in March so the initial impact of stronger-than-expected earnings would be measured, traders said. (Reporting by Kelvin Soh; Editing by Chris Lewis) ((kelvin.soh@thomsonreuters.com; +852 2843 6345; Reuters Messaging: kelvin.soh.reuters.com@reuters.net)) |
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niuyear
Supreme |
10-Jan-2011 17:06
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Oil Rises in New York After Alaskan Crude Pipeline Leak Cuts U.S. SuppliesBy Jan 10, 2011 4:35 PM GMT+0800
- Oil climbed for the first time in three days after an Alaskan pipeline carrying about 15 percent of U.S. crude output was shut following a leak. Futures gained as much as 2.2 percent after the Trans- Alaska Pipeline System was closed Jan. 8, forcing companies including BP Plc to suspend 95 percent of production from the North Slope area. China’s oil imports rose 18 percent in 2010, the country’s customs data showed today, underscoring surging demand in the world’s largest energy user. “People are a little more concerned with supply constraints than they were six months ago,” said Ben Westmore, a minerals and energy economist at National Australia Bank Ltd. in Melbourne. “The shutdown is being factored into prices.” Crude for February delivery increased as much as $1.95 to $89.98 a barrel in electronic trading on the New York Mercantile Exchange. It was at $88.72 a barrel at 4:33 p.m. Singapore time. The contract fell 3.7 percent last week, the most in seven weeks. Futures gained 15 percent in 2010. Operators of the Alaska pipeline, an 800-mile (1,287- kilometer) network crossing the northernmost U.S. state, can’t say when the link will open again. The system starts in Prudhoe Bay on the North Slope and runs to Valdez, the northernmost ice- free port in North America. The line was still closed as of 2:21 p.m. local time yesterday and there’s no estimate of when it would be returned to service, Alyeska Pipeline Service Co. spokeswoman Michelle Egan said in a telephone interview. Curtailment “We do think that the pipeline won’t be closed for any significant length of time and production will very quickly return to normal,” David Lennox, a Sydney-based resource analyst at Fat Prophets, told Susan Li on Bloomberg Television’s “Up Front.” “With that we’ll see the price of crude oil probably drop back down towards the $88 level, where it had been trading.” The curtailment in Alaska production follows the shutdown of Canadian Natural Resources Ltd.’s 110,000-barrel-a-day Horizon oil sands project after a fire Jan. 6. The Alyeska closure was expected to cause a narrowing in the price difference between prompt supplies of West Texas Intermediate oil, the grade traded in New York, and later deliveries, according to a Jan. 7 report from JPMorgan Chase & Co. The spread between the February and April contracts has dropped to $1.97 today from $2.52 a barrel on Jan. 6. China Imports China’s crude imports in 2010 climbed to 239.3 million metric tons, according to the Beijing-based General Administration of Customs. That’s about 4.8 million barrels a day. December imports declined to 20.86 million tons from 20.9 million the month before. Brent crude for February settlement rose as much as $1.37, or 1.5 percent, to $94.70 a barrel on the London-based ICE Futures Europe exchange. On Jan. 7, it decreased $1.19, or 1.3 percent, to $93.33. The more actively traded March contract was at $93.65. Brent’s premium to New York oil futures increased to $6.14 a barrel on Jan. 6, the most since Feb. 13, 2009, based on data compiled by Bloomberg. The spread narrowed to $5.17 today. Hedge funds and other large speculators lowered their net- long positions, or wagers on rising prices, in crude contracts by 14 percent to 187,408 in the seven days ended Jan. 4, according to a weekly report from the U.S. Commodity Futures Trading Commission. That was down from 217,046 contracts in the previous week, which was the biggest total in records going back to June 2006. To contact the reporters on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net; Christian Schmollinger in Singapore at christian.s@bloomberg |
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niuyear
Supreme |
10-Jan-2011 16:56
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Bennenbroek Leads Most-Accurate Currency Analysts Favoring Dollar in 2011By Jan 10, 2011 1:04 PM GMT+0800
- The world’s most accurate foreign- exchange forecasters say the dollar will be the best currency to own this year as the Federal Reserve’s bond purchases bolster the U.S. economy instead of debasing America’s legal tender. Wells Fargo & Co., Bank of Tokyo-Mitsubishi UFJ Ltd. and SJS Markets Ltd., the top analysts in the six quarters ended Dec. 31, according to data compiled by Bloomberg News, say the dollar will strengthen against the euro, yen and pound. Nick Bennenbroek, the head strategist at Wells Fargo in New York and the most accurate of the group, predicts about a 5 percent gain against the euro over the year and 11 percent versus the yen. The survey underscores the sudden turnaround in the U.S. economy two months after the greenback fell to its weakest level in almost a year in November. Traders have turned their focus away from the Fed’s plan to print cash to buy $600 billion of Treasuries and toward Europe’s debt crisis, deflation in Japan and U.K. austerity programs. “The superior growth performance of the U.S. should shine through in 2011,” said Bennenbroek, 40, who joined the bank in 2007 and began his career in the forecasting department at the New Zealand Treasury in Wellington. “We will see the economic recovery in the U.S. outpacing that of Europe, Japan and even the U.K., which would see the dollar stronger against those currencies.” Better Economic Data The dollar’s outlook improved as data showing gains in jobs, manufacturing and retail sales the past six weeks helped drive IntercontinentalExchange Inc.’s Dollar Index up 7.1 percent to 81.012 from last year’s low of 75.631 on Nov. 4. That was a week before the Fed began buying government debt to spur the economy in a policy known as quantitative easing, or QE. The index rose 0.1 percent to 81.116 today. “Back in September and October, the world was debating the prospects of more QE in the U.S. -- dollar negative -- while now investors are debating the chances of the Fed doing less than the $600 billion of QE -- dollar positive,” Valentin Marinov, a currency strategist at Citigroup Inc. in London, wrote in a research note on Jan. 6. The U.S. economy will expand 2.6 percent this year, according to the median of 68 forecasts compiled by Bloomberg. Growth in the euro region will rise 1.5 percent, with Japan at 1.3 percent and the U.K. at 2 percent, surveys show. Surging Dollar The dollar jumped 3.70 percent against the euro last week, the most since August, to $1.2907. Japan’s currency fell 2.4 percent, the biggest weekly decline since December 2009, to 83.15 per dollar. The pound slipped 0.4 percent to $1.5548. The greenback will end the year at $1.31 per euro, 90 yen and $1.58 to the pound, based on the median of more than 30 forecasts compiled by Bloomberg. Bennenbroek said the dollar will benefit from rising interest rates on U.S. bonds. Inflation-adjusted, or real, yields on 10-year Treasuries climbed to 2.18 percent last week from 1.46 percent at the end of October. The dollar surged 8.06 percent versus the euro in the period, 3.42 percent against the yen and 3.15 percent to the pound. “We’re getting some of the most encouraging signals we’ve seen in a while in terms of data, so bond yields are going up and supporting the dollar,” he said. Employers added 103,000 workers in December, a third month of gains, the Labor Department in Washington said on Jan. 7. Manufacturing in the U.S. expanded last month at the fastest pace in seven months, while retailers’ 2010 holiday sales jumped 5.5 percent for the best performance since 2005, reports in the past two weeks showed. Currency Controls The dollar may benefit should increasing U.S. consumption appease nations from Brazil to China that are struggling to keep their exchange rates from appreciating. Brazil’s central bank introduced controls on some dollar positions held by local banks on Jan. 6, its third attempt since October to stem strength in the real, which rose 14 percent from its closing low last year on Jan. 29 through year-end. “The first half of the year across the board is going to be a supportive environment for the dollar,” said Stephen Gallo, head of market analysis at Schneider Foreign Exchange in London, the fifth-best forecaster. “The U.S. is perpetuating its normal style of growth, which is consumer driven, and the emerging- market world is able to perpetuate its export-driven model, which is not a negative scenario for the dollar.” Europe’s currency may rebound as U.S. growth fades amid trillion-dollar deficits and record low central bank rates, said Jeremy Stretch, executive director of foreign-exchange strategy at Canadian Imperial Bank of Commerce in London, the No. 7 forecaster overall and No. 2 for dollar-yen. Interest Rates The Obama administration’s 2011 budget predicts a $1.267 trillion deficit for the fiscal year ending Sept. 30. The Fed won’t raise its target rate for overnight loans between banks until 2012, boosting it to 0.75 percent from a range of zero to 0.25 percent, according to a Bloomberg survey. America’s currency may rise to $1.22 per euro before weakening in the second half as the European Central Bank “becomes more mindful of the residual strength of the German economy” and raises rates, said Stretch. CIBC sees the euro at $1.32 by Dec. 31. Bennenbroek’s picks helped Wells Fargo beat 55 firms across eight currency pairs with a 4.97 percent average margin of error, data compiled by Bloomberg show. His calls, assisted by strategist Vassili Serebriakov, 33, ranked first in sterling, second in euro-yen and third in the euro versus the dollar. Supplanting Standard Wells Fargo climbed from third place in the second and third quarters of 2010 and sixth in the first quarter to unseat Standard Chartered Plc, based in London. Tokyo-based Bank of Tokyo-Mitsubishi, which had a 5.07 percent margin of error, and Hong Kong-based SJS, an independent global financial-services company with 5.64 percent, came next. SJS, which doesn’t currently have a foreign-exchange analyst, declined to comment. “We are dollar bulls when it comes to major currencies and we did well as dollar bulls in 2010 because of the euro,” said Moscow-born Serebriakov, who joined Bennenbroek in 2008. “We will have a market that is more focused on U.S. events in 2011 from the logic that the recovery is picking up pace and U.S. news will play more prominently.” Derek Halpenny, European head of global currency strategy at Bank of Tokyo-Mitsubishi since 2008, had the lowest margin of error for the euro against the dollar at 4.96 percent. He said the dollar would strengthen in November 2009, when the euro traded at $1.51. He is still bullish. ‘Same Story’ “It comes back to the same story: relative fundamentals and the expectations that are built into the market in regards to future monetary policy,” said Halpenny. “Ultimately that is where the dollar bears get carried away, saying the Fed is printing money, debasing their currency and the dollar is going to go down. It just isn’t backed up.” U.S. 10-year real yields are more than a percentage point higher than the Japanese equivalent, which ended last week at 1.11 percent. Euro real yields were at 0.97 percent and the U.K. at 0.21 percent. Halpenny, 40, recommends betting the pound will fall against the Canadian dollar, which will benefit from stronger U.S. growth. The U.S. is Canada’s largest trading partner. “We are bearish on the pound,” he said. “They are now about to embark on quite aggressive fiscal consolidation and that to us points to pound underperformance.” U.K. Opposition Britain’s government has faced opposition over planned austerity measures designed to cut a record budget deficit. Student protests against an increase in tuition fees turned violent last month, while union leaders have said they may strike against proposed job cuts. The foreign-exchange analysts were compared based on the forecasts at the end of each quarter for the close of the next, starting with the third quarter of 2009. One annual estimate which was made at the end of Dec. 2009 for exchange rates as of Dec. 31, 2010, was also included. All estimates were weighted equally. Only firms with at least four forecasts for a particular currency pair were ranked for it, and only those that qualified in at least five of eight pairs were included in the ranking of best overall predictors. In all, 55 firms submitted enough forecasts to be ranked in at least one currency. ---With assistance from Anchalee Worrachate in London, Chris Fournier in Montreal, Ron Harui in Singapore and Liz Capo McCormick, Phil Kuntz and Mary Lowengard in New York. Editors: Daniel Tilles, Robert Burgess |
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cathylmg
Elite |
10-Jan-2011 16:31
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I would rather with until stochastics comes down first... juz my 2 cents worth hor...... |
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