Yeah sorry folks, was too excited over SGX today. Most of my monies still in GSP, otherwise would have bought more SGX just now.

2.26 is the consolidation zone now. As long as it doesn't drop below 2.25 today, bullish trend will be intact, and tomorrow should still be a white candle for GSP.

Current resistance 2.28 - 13 million, 2.29 - 10 million

Ok got to run for lunch appointment again. Be back later hopefully. Have a good lunch folks ! 

You made $75,000 today, not bad at all !!!

Buy me lunch yeah?    

Course will only be ready next year, now too busy trading and hunting for new office and other stuff going on. 

But I will be posting a lot of freebies and free information and trading tips here. So keep coming back to this thread !   

Tags: ASX | Singapore Exchange

WRITTEN BY DOW JONES & CO, INC

MONDAY, 25 OCTOBER 2010 10:59

Share this  Digg  Del.icio.us  StumbleUpon  Netscape  Yahoo  Technorati  Googlize this  Facebook Export PDF Print E-mail Singapore Exchange (S68.SG) last down 4.5% at $9.11 after bourse enters merger agreement with Australia’s ASX (ASX.AU); trader at local brokerage says “the way the shares reacted is not particularly surprising.”    Says takeover “far from certain, as still subject to regulatory approval from Australia, which “is not known to be very happy with foreign companies owning the companies there...if I'm an Australian, I would probably not like to have my exchange being owned by a foreign company, so politically I think it's a hurdle for SGX to cross.”    Adds if deal successful, “it will be long term positive”; but notes short term, there will be question of shares coming into market due to equity portion of transaction, while potential counterbids, bidding war, government intervention also worrisome for SGX investors, would likely send shares further down. Orderbook suggests stock unlikely to slip below $9.00.

Tags: ASX | OCBC | SGX | Singapore Exchange

WRITTEN BY DOW JONES & CO, INC

MONDAY, 25 OCTOBER 2010 10:24

Share this  Digg  Del.icio.us  StumbleUpon  Netscape  Yahoo  Technorati  Googlize this  Facebook Export PDF Print E-mail Singapore Exchange (S68.SG) opens down 5.8% at $8.99 on trade resumption (vs S$9.54 share halt Friday), last down 3.0% at $9.25, after bourse says it enters merger agreement with Australia’s ASX (ASX.AU), ASX shareholders to receive A$22($28.2)/share cash plus 3.473 SGX shares; equates to 37.3% premium to last traded price.  SGX CEO says deal would see EPS rise tad more than 20%, not including “synergies”, close to 26% with synergies. Initial selloff unsurprising as analysts say deal looks expensive, while it faces regulatory hurdles, such as 15% ownership limit for ASX; add positives expected from increased cross investment between both countries, though uncertainty remains over execution.    OCBC analyst Carmen Lee, who puts Sell rating, $8.60 fair value under review, says “this could create the third largest exchange in the world”; combined entity would have close to 3000 listed companies. Orderbook suggests $9.10 support.

Tags: ASX | Chi-X Australia Pty | SGX

WRITTEN BY THOMSON REUTERS

MONDAY, 25 OCTOBER 2010 10:16

Share this  Digg  Del.icio.us  StumbleUpon  Netscape  Yahoo  Technorati  Googlize this  Facebook Export PDF Print E-mail Singapore Exchange (SGX) (SGXL.SI) unveiled an agreed A$8.4 billion ($10.7 billion)  takeover offer for Sydney-based ASX (ASX.AX) on Monday to create the fifth-largest listed exchange in the world. The merger of SGX and the ASX, Asia’s second and third largest listed bourses respectively, aims to ward off the threat of alternative trading systems, line up new avenues for growth and cut costs.   The deal marks the first major consolidation of Asia-Pacific exchanges and will result in US$30 million ($38.9 million) in cost savings.   “The offer is not near ASX’s all-time high, but it is certainly great,” said Mark Daniels, head of Australian equities at Aberdeen Asset Management, which owns ASX shares.   SGX offered a combination of A$22.00 in cash plus 3.473 of its own shares for each ASX share. It said in a joint statement with the ASX on Monday that the offer valued ASX shares at A$48.00 each, a 37 percent premium to ASX’s last trade.    Shares in ASX spiked 25% to A$43.50 after it resumed trade, still well short of a record high of A$61 in early 2008.   SGX shares fell as much as 6.7% but quickly pared losses to trade down 1.8% at $9.40.   “This will be a highly competitive exchange group in an increasingly globalised world” SGX Chairman J. Y. Pillay said in a statement.   COMPETITION REGULATORS UNFAZED The deal will need approval from Australia’s Foreign Investment Review Board, which could be nervous about the deal as SGX is 23% owned by the Financial Sector Development Fund,which is controlled by Singapore’s central bank.   However Australia’s competition watchdog effectively gave the SGX a green light to pursue the takeover earlier Monday, saying it did not see any major concerns.   “I think it’s a matter between the Singapore Exchange and the Australian Exchange, and I can’t see that raising competition issues for us,” Australian Competition and Consumer Commission chief Graeme Samuel told Australian radio.   “We’re much more focused on the potential for new competitors to enter into the Australian market in terms of stock exchange dealings.”   The ASX is due to lose its effective domestic monopoly next year, with a new entrant, Europe’s Chi-X Australia Pty, expected to begin operation in 2011.   “The market will view a SGX-ASX combination as a defensive one, both being exchanges that have relatively mature organic domestic growth opportunities and facing the prospect of losing effective monopoly status with rising pricing pressures as alternative exchanges and trading venues erode share over time”, Citigroup analyst Robert Kongsaid in a note to clients.   A combined SGX-ASX would still rank behind Hong Kong Exchanges and Clearing Ltd (HKEx) (0388.HK), the world’s top exchange operator by market value.   SGX Chief Executive Magnus Bocker is set to become chief executive of the combined group, while SGX’s chairman-elect Chew Choon Seng is slated to become the non-executive chairman of the merged group.

Tags: ASX | SGX | Singapore Exchange

WRITTEN BY THOMSON REUTERS

MONDAY, 25 OCTOBER 2010 10:03

Share this  Digg  Del.icio.us  StumbleUpon  Netscape  Yahoo  Technorati  Googlize this  Facebook Export PDF Print E-mail Shares in Australian bourse operator ASX Ltd (ASX.AX) jumped 25% after it agreed to a US$8.3 ($10.7 billion) billion takeover offer from Singapore Exchange (SGXL.SI) that would create the world's fifth-largest exchange. ASX shares soared to a 32-month high of A$43.89 after the deal was announced. SGX has offered A$22.00 ($28) in cash plus 3.473 of its own shares for every ASX share, valuing each ASX share at A$48.00.

BT, if i have some holdings, shd i sell or wait for further news?

pls advise...

Tags: ASX | SGX | Singapore Exchange

WRITTEN BY THE EDGE

MONDAY, 25 OCTOBER 2010 10:02

Share this  Digg  Del.icio.us  StumbleUpon  Netscape  Yahoo  Technorati  Googlize this  Facebook Export PDF Print E-mail STI +0.5% at 3,189.43 with gainers beating decliners 3 to 1; 305 million shares traded worth $284 million, says Dow Jones. STI rise comes amid gains around region on hopes G-20 meeting may have soothed currency market tensions; “we expect the market to continue moving higher as domestic liquidity is expected to remain abundant with the US Fed’s reflation efforts,” says strategist at foreign brokerage. All eyes on SGX (S68.SG) shares when they resume trade after bourse says it enters merger agreement with Australia’s ASX (ASX.AU), with ASX holders to receive A$22/share ($28/share) cash plus 3.473 SGX shares; values ASX at A$48/share or 37.3% premium to Friday’s halted price. Anchun International (MF5.SG) opens at $0.33 on debut vs $0.25 IPO price, most active stock with 47 million shares traded. 3,200 could cap index upside, level last seen Oct 18.

Hi guys, I am logging in from outside. Just a quick update, those who missed the buying opportunity at $9 just now and selling at $9.40, please DO NOT buy now.

It looks like it is going to go below $9 before it goes up again. I have already sold all my SGX just now when it was chionging up to $9.40.

I repeat do not buy now, it is already too late. Wait for further confirmation news on SGX buying the Australian exchange. SGX has gone ahead to apply for takeover, but Australian government has not approved yet.

I will post updated news after this. 

so sad....... 9.3 don't sell!!!! earn so little.