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Daily Reports Nov 2011
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redbean



Joined: 07 Mar 2006
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PostPosted: Tue Nov 01, 2011 5:29 pm    Post subject: Daily Reports Nov 2011 Reply with quote

Dow tumbled 276 to close at 11955. Trend is looking like breaking down. Both MAs are horizontal. Dow's future is now -127 and Europe sharply down on opening.

Asian bourses were mixed. Nikkei -153, ShanghaiC +2 and Hangseng -495. STI -66 closing near day low at 2789. Volume was 1.1b shares.

Second day of sharp falls for STI and trend is starting to turn down.

Top volumes were Genting -5.5, Noble -7.5, GoldenAgri -1, PSL unchanged, Si2i -0.3, CapitalMall -8.5, Capitaland -9, Yangzijiang -2, Digiland+0.1.

Following Dow's fall, market opened down but recovered to half the losses. STI was steady till late afternoon when European markets fell on opening. Hangseng also fell sharply. The trigger was the Greece debt crisis. Though EU has agreed to assist and written off 50% of the debt, apparently the Greece people are not supportive of the solution. The Greek PM is calling for a referendum early next year and this was seen as very negative. With 60% of the population against the EU recommendations, the referendum is going to be against and will throw the crisis wide open. Greek govt is expected to declare bankruptcy if that happens.

Blue chips and banks took a big dive giving up a lot of grounds.

Dow and Europe will be negative tonight and a matter of how bad will be the sell down. For the moment, Europe seems to be holding to its current position and not going down further. At these levels the impact would not be too serious tomorrow. Hopefully they will hold.
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redbean



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PostPosted: Wed Nov 02, 2011 5:28 pm    Post subject: Reply with quote

Both Dow and Europe were walloped last night. Dow fell 297 to close at 11658. Uptrend for Dow is broken with two days of sharp falls. Dow's future has recovered and is now +80. Europe also regained some grounds on opening and mostly positive.

Asian bourses were mixed. Nikkei -195, ShanghaiC +34, Hangseng +364. STI also recovered after a nervous opening. It closed near day high at 2835, +45. Volume was 2b shares.

STI trend has stopped from falling and todays closing is looking pretty healthy.

Top volumes were MDR +0.1, Noble +7, Genting +6, GoldenAgri +2, PSL +2, CNMC +3, NextGen +0.1, Yangzijiang +4.5, HPH Trust unchanged, IEV +2.

All the news were alarming after the referendum call by Greece. It was like waiting for a big crash. Surprisingly market started to recover probably from bargaining hunting. The big push came later in the afternoon with Hangseng charging back up. Europe's opening was comforting.
So what's next? Greece opposition MPs are calling for unity against the call for referendum. This could only be called in early next year and during this period it is likely to see a lot of pushing and pulling.

The bargain hunting today is a sign that nothing would happen immediately. However market should remain volatile. Blue chips and banks recovered strongly. Many investors on the side line were hoping to come in should the market fall further but were disappointed.

Dow and Europe should recover tonight after yesterday's selling.
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redbean



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PostPosted: Thu Nov 03, 2011 5:30 pm    Post subject: Reply with quote

Dow was up 178 last night to close at 11836. This prevented the MAs from cutting downwards to confirm a trend reversal. Dow's future is now -109, slightly better than earlier after Europe recovered from a sharp fall on opening. Europe is still negative but marginally down at the moment.

Asian bourses were mostly down. Nikkei closed, ShanghaiC +4, Hangseng -491. STI closed -24 at 2810, which is near to the day's high. Volume was 1.1b shares.

Trend of STI is flattening.

Top volumes were GoldenAgri +0.5, MDR unchanged, Noble -2, Genting -4.5, Cosco -4.5, Hankore unchanged, Si2i +0.1, Jiutian -1, PSL -1. IEV -3.5.

Everyone expected the market to open high this morning given the 178 pts gain at Dow last night. Surprisingly market opened in the red. The referendum news from Greece was getting more coverage in the media and exaggerated the fear. The results of the local banks registering lower profits also seemed to jitter the market.

Even so, our market was holding quite steady for the most part of the day till Europe opened sharply down. Market recovered to close at day high, cutting down on its losses when Europe recovered. Europe is now marginally down and may even turn positive. Dow's future has moved up from -109 to -47 at the moment. Banks were sharply down on opening but pared off most of their losses.

Indicators for Dow and Europe are still negative but improving. Possible for both markets to be positive tonight.
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redbean



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PostPosted: Fri Nov 04, 2011 5:26 pm    Post subject: Reply with quote

Dow and Europe recovered strongly. Dow +208 and closed at 12044. Dow is back on its uptrend. Dow's future is now -27 while Europe opened marginally down.

Asian bourses rallied strongly. Nikkei +161, ShanghaiC +20. Hangseng +600. STI was +47 but closed +38 during matching at 2848. Volume was 1.5b shares.

STI is gradually moving back to the uptrend.

Top volumes were GoldenAgri -1, Genting +3, Mewah +4, Noble +3.5, Si2i -0.2, Elektromotive unchanged, Singtel -4, Infinio -0.1, CNMC +1.5, Parkson +13, .

The situation in Greece is flipping everyday. Now the PM is saying the EU package for Greece is good and he is likely to drop the referendum. EU Central Bank also lowered interest rate and market soared last night.

Local banks and blue chips also recovered strongly despite the long weekend. There were some clearing of positions too but many investors were holding on to their positions.

Looks like Dow and Europe may pull back a little for the weekend tonight after yesterday's strength. The Greece picture should be steadier now.
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redbean



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PostPosted: Tue Nov 08, 2011 5:27 pm    Post subject: Reply with quote

Dow opened the week positive despite the uneasiness in Europe with Italy now the centre of attention. It closed at 12068, +85. Trend is level but looking like turning back up. Dow's future is now +30, reversing an earlier negative position. Europe has opened strongly up allaying fears of more upheavals in Italy.

Asian bourses were mixed. Nikkei -112, ShanghaiC -6, Hangseng flat. STI closed at 2867, +18. Volume was 1.5b shares.

STI trend is similar to Dow, attempting to turn back up.

Top volumes were GoldenAgri +1, Genting +2.5, Si2i +0.2, CNMC +5.5, Singtel -1, Pollux R -0.1, Mewah +6.5, MDR unchanged, CitySpring unchanged, Noble +3.5.

Our market opened up but fell in the afternoon when Hangseng turned negative after staying at +150 pts. Europe opened firmly up and our market recovered to end near its day high. Overall the market was mixed but steady.

Dow's future was negative most of the day but also turned positive when Europe moved up. Europe is likely to set the tone as it is in the centre of the European crisis. So far both Europe and Dow are looking good for tonight.
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redbean



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PostPosted: Wed Nov 09, 2011 5:29 pm    Post subject: Reply with quote

Dow was much stronger than Europe last night. And surprisingly Europe was also positive despite the playing up of Italian debt. Dow +102 to close at 12170. Dow's future is now -73 while Europe opened positive.

Asian bourses were mostly better. Nikkei +100, ShanghaiC +21, Hangseng +336. STI closed near its day low at 2859, -8. Volume was 1.5b shares.

Trend of STI is flattening.

Top volumes were Genting -4.5, GoldenAgri +0.5, Nobel +0.5, Si2i +0.1, Oceanus -0.3, Singtel +2, Yangzijiang +1, HPHTrust +1.5, CNMC -1.5, Wilmar -23.

Market was up in early trading but got sold down on profit taking by the big boys. Genting was sold down to a low of 1.69 from a morning high of 1.77. The volume was 94m shares or more than $150m traded. Who could do this with so much money to play? Is this trading or cornering the market? In the old regime such tradings would not be allowed. It is now an acceptable practice. What is the impact on the investors with this kind of manipulation or trading? Yesterday Chinese paper wrote positively about Genting and predicting good results. Today it got sold down? What's happening?

Overall market was steady.

Europe is starting to turn negative and Dow's future is now -119. Looks like tonight they are not going to be good.
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redbean



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PostPosted: Thu Nov 10, 2011 5:14 pm    Post subject: Reply with quote

Though Europe was weak and with more outcries of their financial woes, Dow's deep plunge was a surprise. Dow was -389 at 11781. Dow's trend is starting to turn down with MAs doing the first cut down. Dow's future was negative the whole day but is now +39. Europe opened down but is improving.

Asian bourses were all sharply down, Nikkei -255, ShanghaiC -45 and Hangseng -1051. STI was at a low of 2762 but recovered to close at 2789, -69, near its day high. Volume was 1.7b shares.

MAs of STI are starting to turn south.

Top volumes were Noble -42, Genting -2, GoldenAgri -1, Midas -2.5, Olam -18, Yangzijiang -1.5, CNMC +3, NOL -5, Oceanus -0.5.

The market opened down and was nearly 100 pts down. It was driven by the sharp fall in Hangseng. Market only recovered in late afternoon when Hangseng closed. Europe's slight recovery also helped to shore up an oversold market.

Noble was the sick stock after being pushed up the last few days. It fell 40c. How could such a thing happened? Genting too was sold down to 1.64 but gallantly climbed back probably with expectation of a good result tonight. It closed at 1.685.

Europe is starting to turn positive. Looks like the fear of Greece and Italy is subsiding. Greece is still on tenderhook.

Still a good possibility that Dow and Europe may closed positive tonight and this will give our market a boost after today's sell down.
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redbean



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PostPosted: Fri Nov 11, 2011 5:28 pm    Post subject: Reply with quote

Dow +113 to close at 11894 last night. Europe was also positive with the forming of transition govts in Greece and Italy. Dow's trend is down slightly. Dow's future is now +71 and Europe opened negative but is now mostly positive.

Asian bourses were mostly up today. Nikkei +14, ShanghaiC +1.5, Hangseng +173. STI was hurt by the selldown of Genting but managed to close +2 at 2789. Volume was1.5b shares.

Trend of STI is slipping with MAs just about to cut down.

Top volumes were Genting -9, Noble unchanged, MDR -0.1, PSL +3.5, LippoMalls R -0.7, Oceanus -0.1, SkyOne +1.5, GoldenAgr unchanged, TopGlobal +0.1, LippoMalls -4.

Market was hurt badly by the aggressive selling of Genting. Despite its better revenue and profits, it was sold down to 1.545 before closing at 1.595. The reckless selling could be due to a Citibank report which downgraded it to 1.50. Interestingly the report pointed to a high provision of bad debt at $57m while the ST stated the amount at $37.8m.

On the other hand several local brokerages recommended buy with a target price of 1.90 to 2.05. The disparity is unspeakable. The same thing happened a few months back when Deutsche Bank downgraded Genting and there was a sell down only to recover sharply a few days latter. Something very suspicious is happening. Genting is rolling out more attractions and still has a lot of room to grow.

Market closed steady for the weekend which is good. Greece and Italy should not give any big nasty shock for the time being. Dow's future is still positive and Europe are looking for a steady session.
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PostPosted: Tue Nov 15, 2011 5:20 pm    Post subject: Reply with quote

Dow and Europe retreated slightly. Dow was -75 at 12079. Trend is flat. Dow's future is now -36. Europe opened down with Frankfurt now -117.

Asian bourses were also weaker. Nikkei -62, ShanghaiC +1, Hangseng -160. STI -19 at day low, closing 2812. Volume was 1.3b shares.

STI trend is also flat, not going anywhere.

Top volumes were LippoMalls R -2, Si2i -0.8, Goldenagri -1, Noble -1.5, Eastgate -1, MDR unchanged, Genting -2, Oceanus -1.3, UMS +3.5, CNMC +0.5.

It was another lacklustre trading session. Market just drifted along in a narrow band but finally got pushed down further during matching. Many stocks drifted lower with simply no interest from a diminishing pool of investors. The recently announced increase of nearly 1,000 remisiers was supposed to be good news to the industry. That must be the biggest joke of the day.

Dow and Europe are not going to be strong tonight and looking to be in the red.
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redbean



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PostPosted: Wed Nov 16, 2011 5:23 pm    Post subject: Reply with quote

Dow and Europe did not make any big moves last night. Europe closed slightly down while Dow was +17 at 12096. Dow's trend is still flat. Dow's future has just recovered from being negative the whole morning. Europe opened down but since recovered and are positive at the moment.

Asian bourses were mostly down with Hangseng opening sharply down and was down by about 500 pts. It closed -388. Nikkei -79, ShanghaiC -63. STI was sharply down but closed off its low at 2807, -4. Volume was 1.6b shares.

Trend is looking slightly down at the moment.

Top volumes were Libra -25.5, Noble +0.5, GoldenAgri +0.5, Genting +0.5, Yanlord +13.5, LippoMalls R +0.5, HPH Trust -1.5, Si2i -0.3, Eastgate -0.3, Memstar +0.4.

Market opened up but was dragged sharply down by Hangseng. It only recovered in late afternoon when Europe started to move up to positive territory. A slight recovery in the morning turned into a sea of red till about 4 pm. Trading was thin. Several stocks were sold down but recovered.

Dow's future is better now and so is Europe. The wind is still blowing hot and cold in Europe.
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redbean



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PostPosted: Thu Nov 17, 2011 5:24 pm    Post subject: Reply with quote

Dow -190 last night to close at 11906. Dow's trend is flat and weak. Dow's future is now +43. Europe opened slightly down.

Asian bourses were mostly weaker. Nikkei +16, ShanghaiC -4, Hangseng -143. STI -29 at 2778. Volume was 1.4b shares.

Trend of STI is slipping down.

Top volumes were Noble -3, Hartawan +0.6, Memstar +0.9, GoldenAgri unchanged, Libra +3, Genting -2.5, LippoMallsR +1, Mewah +4.5, UtdEnvirotech +1.5, Olam -5.

Market was steady and slightly positive until late afternoon when it slipped to negative territory. Genting was sold down in the last half an hour to 1.57. Overall market volume was a 'high' of 1.4b shares! Got to say the volume is high to spin a positive story of a vibrant and exciting market. At the rate it is going, soon this will be the most exciting market in the world.

One good news is that the big funds with their high speed machines must be doing roaring business and making a big pile from the market. Apologies to the unsophisticated small investors who must be contributing to the bonuses of the fund managers.

Europe is improving slightly while Dow is still positive. Direction wise nothing to talk about tonight.
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redbean



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PostPosted: Fri Nov 18, 2011 5:08 pm    Post subject: Reply with quote

Another retreat for Dow last night, -135, closing at 11771. MAs have cut downwards and trend is turning down. Dow's future is +3 at the moment while Europe opened in the red.

Asian bourses were mostly down. Nikkei -105, ShanghaiC -46, Hangseng -326. STI closed -38 at 2740. Volume was 1.3b shares.

Trend is slipping down like Dow with MAs cutting down as well.

Top volumes were Genting -3, Noble -5, Libra -3, UtdEnvirotech +3, PSL, +4, Hartawan +0.6, NexGen -0.1, GoldenAgri -1.5, Yanlord -1, LippoMals R -+0.5.

Sentiment was not only weak but there was hardly anyone in the market except the computers. The volume is deceiving as traders have nearly disappeard. School holidays, fund closing accounts also added to the disappearing act.

What ever activities, it was sell and sell and sell. There was a bit of short covering in the last half an hour to pare off some losses.

Europe and Dow not looking very healthy tonight.
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redbean



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PostPosted: Mon Nov 21, 2011 5:18 pm    Post subject: Reply with quote

Dow closed marginally up on Friday, +25 to close at 11796. Down trend is forming. Dow's future is now -161. Europe is sharply down on opening with Frankfurt now -168.

Asian bourses were mainly down. Nikkei -27, ShanghaiC -1.4, Hangseng -265. STI -26 at 2705. Volume was1.5 b shares.

STI is also trending down.

Top volumes were Genting -3.5, Memstar -0.5, MDR unchanged, Noble -5.5, GoldenAgri -1.5, PSL -1, Hartawan -2, Oceanus +0.8, NexGen +0.1, Singtel +2.

Another quite day, another selling day. There was some recovery just before Europe open. The market went diving again to close at day low. It was a sea of red and Europe looking very weak,

Dow's future is following Europe on the way down and tonight it is not going to look good both in Europe and at Dow.
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redbean



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PostPosted: Tue Nov 22, 2011 5:41 pm    Post subject: Reply with quote

Dow fell sharply last night, -249 at 11547. Dow's trend is turning sharply down. Dow's future is now +24 while Europe opened slightly up.

Asian bourses were mixed. Nikkei -33, ShanghaiC -2.5 and Hangseng +26. STI closed at day high, +19 at 2717. Volume was 1.5b shares.

Trend of STI is down.

Top volumes were Genting +3, GoldenAgri +2.5, Noble +6, PSL +2.5, MDR unchanged, Memstar +0.6, Oceanus +0.6, HPH Trust +1.5, SingXpress +0.1, Singtel unchanged.

Market tried to recover after a week of sharp selling. It started to be firmer in late afternoon after Hangseng turned positive, and with Europe steady on opening. There was some bargaining hunting but cautious as the general situation is still just as bad.

Europe is looking like having a technical rebound and Dow too is likely to bounce back a little.
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redbean



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PostPosted: Wed Nov 23, 2011 5:27 pm    Post subject: Reply with quote

No technical rebound last night at Dow or Europe but the falls were smaller. Dow -54 at 11494. Dow's trend is down. Dow's future is now -67, much better than earlier. Europe opened slightly down at the moment.

Asian bourses were mostly down. Nikkei -34, ShanghaiC -18, Hangseng -387. STI -40 at 2677. Volume was 1.6b shares.

STI trend is looking down.

Top volumes were TopGlobal unchanged, Lereno unchanged, GoldenAgri -1, Noble -4, Genting -3, PSL +2.5, NexGen unchanged, Informatics +0.6, Memstar -0.1, Advsys +0.1.

It was another day of very quiet trading. The volume was pulled up slightly by 4 below 1c stocks which added up to 290m shares. Most of the stocks were down with a few exceptions. F&N and Venture were the two with +6 and +8. The market has been messed up so badly that not many traders are left in the market.

The US is having Thanks Giving tomorrow and it is expected to close positive for tonight. Unfortunately Dow's future is weakening again at -107.
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