ShareJunction - Member Posts

x 0

Midas is charging up on more than doubled yesterday's volume of 12.4M

richtan ( Date: 09-Jun-2009 12:37) Posted:

Midas has apparently bounce off the 25ema with higher low n on high volume, exceeeding yesterday's volume at half-time.

richtan ( Date: 09-Jun-2009 11:29) Posted:

Midas appears to bounce off the 25ema on high volume, within 2 n half hours, almost catchup with yesterday's volume.

x 0

Midas has apparently bounce off the 25ema with higher low n on high volume, exceeeding yesterday's volume at half-time.

richtan ( Date: 09-Jun-2009 11:29) Posted:

Midas appears to bounce off the 25ema on high volume, within 2 n half hours, almost catchup with yesterday's volume.

x 0

From Kim Eng:
Midas Holdings – Company Update (James KOH, DID: 64321431)
Previous Day Closing price: $0.635
Recommendation: BUY
Target price: $0.82
Considering a fourth production line
In an interview with Business Times recently, management highlighted that it is considering building a fourth production line as it bids for more rail contracts in China. We believe this would be dependant on overall contract order flow as well as the utilisation rate for its third production line once it is ready by 1st quarter 2010.
Could boost capacity by a further 33%
A fourth production line would probably add 10,000 tonnes or 33% to the existing 30,000 tonnes/ annum (including third line) capacity. However, we believe any concrete plans for this would only materialize after the third line is up and running. This means the earliest completion date would likely be in 2H2011, taking into account previous expansions.
Preliminary estimates of profit contribution
We have not factored this into our forecasts, but our preliminary estimates suggest this could potentially add around $60million in revenue and $13million in net profits once it is fully operational. We also believe such a line would involve capital expenditure of around $40million which can be funded by a combination of cash and debt.
Targeting $200m worth of contracts
Management is currently chasing $200m worth of contracts to supply aluminium alloy profiles for use in the manufacturing of high-speed and metro trains in China. This includes projects such as the Beijing-Shanghai high-speed railway line and metro projects in Shanghai, Hangzhou, Guangzhou and Xi’an.
New contract announcements likely as 3rd line completes
We believe the probability of new contract announcements will increase as the third production line comes onstream. Customers are unlikely to commit new orders without the production capacity in place. Furthermore, we note that the third line is for a different profile size from existing lines and customers may require some trial sample. Our target price and forecasts remain unchanged.

Year End Dec

2007

2008

2009F

2010F

2011F

Sales (S$m)

140.4

144.5

138.9

169.1

184.2

Pre-tax (S$m)

35.3

40.7

47.4

59.0

65.0

Net profit (S$m)

31.9

32.7

37.4

46.0

50.7

EPS (cts)

3.8

3.9

4.4

5.4

6.0

EPS growth (%)

24.8

2.3

14.3

23.0

10.2

PER (x)

17.0

16.4

14.4

11.7

10.6

EV/EBITDA (x)

11.9

10.6

10.1

7.9

6.9

Yield (%)

3.1

2.4

1.6

1.6

1.6

x 0

The 15ema n 25ema had been providing very good support for the past 3 months.

x 0

Midas appears to bounce off the 25ema on high volume, within 2 n half hours, almost catchup with yesterday's volume.

x 0

This is just my opinion.

Generally, in consolidation n acumulation, the vloume tends to be low.

Not an inducement to buy or sell. Dyodd.

weishen81 ( Date: 09-Jun-2009 10:29) Posted:

just back from reservist... hmm... trading volume for CHHX seems to be very low for the past week.... does it mean any kind of signals? Thanks! Smiley

x 0

Retry posting, dun know why always tends to get jumbled up.

From AmFraser: )

The STI (2417 high/2362 low) has apparently found support at its old

38.2% recovery mark (2363) of its crash from 3831 to 1455 – this

morning’s low at 2362 while last week’s 2344 low is at the historic

support of 2347 (2005 close). That year’s 2400 high does not seem to

be a major hurdle as it has been breached twice last week and again

this morning’s 2417 high.

As mentioned earlier the distance between 2400 and the next multi year

target of 2480-2500 is quite far away and needed sometime to reach.

But there are no signs yet of a correction phase of over 10% coming

anytime soon as overbought conditions are well taken care off by intraday

pullbacks.

There have been 2 golden crosses between 50 and 100 as well as 50

and 200 and the latter although still falling at a slower pace (likely to

flatten soon) should make a cut with the rising 100-days within a few

weeks.

However normal pullbacks of 4-8% should offer entry chances. A 4%

fall from 2424 will bring the STI to 2327 just under the 2347 historic

mark and last week’s 2344 low, while a 5% fall takes it to 2303 at

psychological support.

To go back to the nearest historic support after 2347 which is 2278-81

(around recent 2284 resistance) means a 6% pullback while 8% drop

takes it to 2230, just under 2244 multi year support.

Thus with a strong layer of support around 2250 to 2350, there seems a

slim chance of a correction of over 10% barring unforeseen

circumstances.

A 10% fall means 2182, around the brief May 22 low of 2190, which

ushered in the latest upleg. That was the last time the STI fell below its

13-day MA buy signal, which is now at 2321, still well below today’s

2362 low.

x 0

From AmFraser:
The STI (2417 high/2362 low
38.2% recovery mark (2363) of its crash from 3831 to 1455 – this

morning’s low at 2362 while last week’s 2344 low is at the historic
support of 2347 (2005 close). That year’s 2400 high does not seem to
be a major hurdle as it has been breached twice last week and again
this morning’s 2417 high.
As mentioned earlier the distance between 2400 and the next multi year
target of 2480-2500 is quite far away and needed sometime to reach.
But there are no signs yet of a correction phase of over 10% coming
anytime soon as overbought conditions are well taken care off by intraday
pullbacks.
There have been 2 golden crosses between 50 and 100 as well as 50
and 200 and the latter although still falling at a slower pace (likely to
flatten soon) should make a cut with the rising 100-days within a few
weeks.
However normal pullbacks of 4-8% should offer entry chances. A 4%
fall from 2424 will bring the STI to 2327 just under the 2347 historic
mark and last week’s 2344 low, while a 5% fall takes it to 2303 at
psychological support.
To go back to the nearest historic support after 2347 which is 2278-81
(around recent 2284 resistance) means a 6% pullback while 8% drop
takes it to 2230, just under 2244 multi year support.
Thus with a strong layer of support around 2250 to 2350, there seems a
slim chance of a correction of over 10% barring unforeseen
circumstances.
A 10% fall means 2182, around the brief May 22 low of 2190, which
ushered in the latest upleg. That was the last time the STI fell below its

13-day MA buy signal, which is now at 2321, still well below today’s

2362 low.) has apparently found support at its old

x 0

June 8

History Hints that Current Stock Market Rally May Be the Leading Edge of a New Bull Market

By William Patalon III
Executive Editor
Money Morning/The Money Map Report

If history is our guide, then the rally we’ve seen in U.S. stocks in recent weeks is more than just a periodic run-up in share prices – it’s the initial stage of a prolonged bull market.

The 13-week rally the Dow Jones Industrial Average has experienced off its March lows is the most powerful surge that index has seen since the Great Depression. If we look to history, stocks should continue to rally over the next three months.

"I say this with the utmost confidence and my fingers tightly crossed: This is the start of a new bull run," Hugh Johnson, chairman of Johnson Illington Advisors, told MarketWatch.com.

The 13-week stretch from March 9 through May 29, which saw the Dow soar 28.3%, has been bested only once – by the 40.8% run-up the Dow enjoyed in the 13 weeks that followed its hitting a bottom in May 1932. The Dow surged an additional 3.1% last week.

Going back to 1900 – in any given quarter (13 weeks) – there have been 18 cases in which the market surged 20% or more, Johnson said.

Looking at the trends, the odds are strong that the Dow will be higher three weeks from now, and that means the odds are strong that the index will be higher three months from now.

"Based on history, who knows where we’re going to be four weeks from now? But in 12 weeks, the odds are we’ll be 3.8% higher," Johnson said.
That can’t be guaranteed, however, since there has been at least case where stocks had a huge quarter, only to plunge afterward: In May 1929, the Dow zoomed 26% in 13 weeks – only to plunge 38.9% in the 12 weeks that followed.

Market Matters

General Motors Corp. (OTC: GMGMQ) officially filed for Chapter 11 bankruptcy protection and another U.S. icon has been laid to rest (until the “new” GM emerges better than ever). With another $30 billion in government aid in hand, GM quickly moved forward by financing the acquisition of supplier Delphi Corp. (OTC: DPHIQ) by a buyout firm that will help it emerge from its own bankruptcy; reaching an agreement to sell Saturn to Penske Automotive Group Inc. (NYSE: PAG); and entering into a deal to unload Hummer to China’s Sichuan Tengzhong Heavy Industrial Machinery Corp. (though regulatory “challenges” are sure to hold up that one). Meanwhile, Chrysler LLC progressed with its own restructuring Fiat SpA (OTC ADR: FIATY), much to the chagrin of about 800 dealers; and Ford Motor Co. (NYSE: F) plans to increase production to take advantage of the misfortunes of its primary competitors.

Shifting to a more “stable” industry, the Federal Deposit Insurance Corp. and FDIC Chairman Sheila Bair seem to be targeting Citigroup Inc. (NYSE: C) for a management shake-up, a move that could give regulators greater control of the one-time financial behemoth. Smith Barney brokers found their new homes as a significant joint venture between Citi and Morgan Stanley (NYSE: MS) was completed. Citi also attempted to save face from the prior American International Group Inc. (NYSE: AIG) embarrassment by announcing plans to withhold millions in previously promised severance packages to former execs. On the Troubled Asset Relief Program (TARP) front, JPMorgan Chase & Co. (NYSE: JPM), Morgan Stanley, and American Express Co. (NYSE: AXP) each revealed plans for stock offerings as they race to become the first major bank to repay “bailout” moneys. With GM now in bankruptcy and Citi struggling to overcome its own problems, the Dow Jones Industrial Average is replacing them with Cisco Systems Inc. (Nasdaq: CSCO) and The Travelers Cos. Inc. (NYSE: TRV) effective June 8.

Energy prices resumed their higher trek, as crude spiked above $70 a barrel for the first time since last October, despite reports that showed demand at its lowest level in 10 years. Goldman Sachs Group Inc. (NYSE: GS) analysts upwardly revised their projections for future global demand and warned of a “likely return to energy shortages” in 2010. As gas prices have skyrocketed about 50 cents above last month’s levels, consumers are facing pressures at the pumps that threaten to hinder some of next year’s anticipated growth in the economy.

Market/ Index	Year Close (2008)	Qtr Close (03/31/09)	Previous Week (05/29/09)	Current Week (06/05/09)	YTD Change
Dow Jones Industrial	8,776.39	7,608.92	8,500.33	8,763.13	-0.15%
NASDAQ	1,577.03	1,528.59	1,774.33	1,849.42	+17.27%
S&P 500	903.25	797.87	919.14	940.09	+4.08%
Russell 2000	499.45	422.75	501.58	530.36	+6.19%
Global Dow	1526.21	1347.38	1,653.06	1,680.43	+10.10%
Fed Funds	0.25%	0.25%	0.25%	0.25%	0 bps
10 yr Treasury (Yield)	2.24%	2.68%	3.47%	3.86%	-162 bps

Economically Speaking

It looks like fixed-income traders are not the only ones concerned about the expanding debt position in this country. U.S. Federal Reserve Chairman Ben S. Bernanke warned that the government “can’t borrow indefinitely” and politicos need to take crucial steps to reduce a budget deficit that is rapidly approaching $2 trillion. Bernanke again confirmed his belief that the economy will move beyond recession by late 2009, though he also warned that the weak jobs market (among other conditions) will restrict future expansion.

Speaking of labor, the unemployment data highlighted the week’s releases and the jobless rate surged to 9.4%, a new 25-year high, as 345,000 nonfarm jobs were lost from the economy. However, even bad news becomes good news these days as economists had predicted a far more substantial loss (525,000 jobs), and the May decline was the smallest since October 2008. Still, more than six million folks have seen their jobs disappear since the recession began in December 2007 and May represents the seventeenth consecutive month of labor contraction.

In other news, the manufacturing sector appears to be on the verge of recovery (though ever-so-slightly) as the ISM index reported its best showing since September 2008. On the housing front, construction spending jumped for the second straight month and pending home sales experienced its biggest increase in eight years. Personal income surprisingly rose in April, a positive sign for future consumer activity. Though retailers reported weaker-than-expected same-store sales for May, analysts were quick to point out that Wal-Mart Stores Inc. (NYSE: WMT) is no longer participating in these reports, a decision that should skew the numbers lower because the world’s largest retailer accounts for about 10% of total retail sales. Luxury chains and department stores were among the worst performers last month, while The Gap Inc. (NYSE: GPS) benefited from a nice increase in activity at its Old Navy chain.

U.S. Treasury Secretary Timothy Geithner ventured over to China during the week where he praised it leaders for past stimulus measures (a tad different tact than used by his predecessor). Recently, China has complained about the ballooning U.S. debt and analysts remain worried about its continued participation in our Treasury auctions. The domestic powers-that-be have long criticized China about unfair trade practices and currency issues.

While the respective leaders have reservations about each other’s policies, Geithner’s remarks may be seen as smoothing over relations as our combined efforts will be imperative to securing an effective and long-lasting global recovery.

x 0

June 8

History Hints that Current Stock Market Rally May Be the Leading Edge of a New Bull Market

By William Patalon III
Executive Editor
Money Morning/The Money Map Report

If history is our guide, then the rally we’ve seen in U.S. stocks in recent weeks is more than just a periodic run-up in share prices – it’s the initial stage of a prolonged bull market.

The 13-week rally the Dow Jones Industrial Average has experienced off its March lows is the most powerful surge that index has seen since the Great Depression. If we look to history, stocks should continue to rally over the next three months.

"I say this with the utmost confidence and my fingers tightly crossed: This is the start of a new bull run," Hugh Johnson, chairman of Johnson Illington Advisors, told MarketWatch.com.

The 13-week stretch from March 9 through May 29, which saw the Dow soar 28.3%, has been bested only once – by the 40.8% run-up the Dow enjoyed in the 13 weeks that followed its hitting a bottom in May 1932. The Dow surged an additional 3.1% last week.

Going back to 1900 – in any given quarter (13 weeks) – there have been 18 cases in which the market surged 20% or more, Johnson said.

Looking at the trends, the odds are strong that the Dow will be higher three weeks from now, and that means the odds are strong that the index will be higher three months from now.

"Based on history, who knows where we’re going to be four weeks from now? But in 12 weeks, the odds are we’ll be 3.8% higher," Johnson said.
That can’t be guaranteed, however, since there has been at least case where stocks had a huge quarter, only to plunge afterward: In May 1929, the Dow zoomed 26% in 13 weeks – only to plunge 38.9% in the 12 weeks that followed.

Market Matters

General Motors Corp. (OTC: GMGMQ) officially filed for Chapter 11 bankruptcy protection and another U.S. icon has been laid to rest (until the “new” GM emerges better than ever). With another $30 billion in government aid in hand, GM quickly moved forward by financing the acquisition of supplier Delphi Corp. (OTC: DPHIQ) by a buyout firm that will help it emerge from its own bankruptcy; reaching an agreement to sell Saturn to Penske Automotive Group Inc. (NYSE: PAG); and entering into a deal to unload Hummer to China’s Sichuan Tengzhong Heavy Industrial Machinery Corp. (though regulatory “challenges” are sure to hold up that one). Meanwhile, Chrysler LLC progressed with its own restructuring Fiat SpA (OTC ADR: FIATY), much to the chagrin of about 800 dealers; and Ford Motor Co. (NYSE: F) plans to increase production to take advantage of the misfortunes of its primary competitors.

Shifting to a more “stable” industry, the Federal Deposit Insurance Corp. and FDIC Chairman Sheila Bair seem to be targeting Citigroup Inc. (NYSE: C) for a management shake-up, a move that could give regulators greater control of the one-time financial behemoth. Smith Barney brokers found their new homes as a significant joint venture between Citi and Morgan Stanley (NYSE: MS) was completed. Citi also attempted to save face from the prior American International Group Inc. (NYSE: AIG) embarrassment by announcing plans to withhold millions in previously promised severance packages to former execs. On the Troubled Asset Relief Program (TARP) front, JPMorgan Chase & Co. (NYSE: JPM), Morgan Stanley, and American Express Co. (NYSE: AXP) each revealed plans for stock offerings as they race to become the first major bank to repay “bailout” moneys. With GM now in bankruptcy and Citi struggling to overcome its own problems, the Dow Jones Industrial Average is replacing them with Cisco Systems Inc. (Nasdaq: CSCO) and The Travelers Cos. Inc. (NYSE: TRV) effective June 8.

Energy prices resumed their higher trek, as crude spiked above $70 a barrel for the first time since last October, despite reports that showed demand at its lowest level in 10 years. Goldman Sachs Group Inc. (NYSE: GS) analysts upwardly revised their projections for future global demand and warned of a “likely return to energy shortages” in 2010. As gas prices have skyrocketed about 50 cents above last month’s levels, consumers are facing pressures at the pumps that threaten to hinder some of next year’s anticipated growth in the economy.

Market/ Index	Year Close (2008)	Qtr Close (03/31/09)	Previous Week (05/29/09)	Current Week (06/05/09)	YTD Change
Dow Jones Industrial	8,776.39	7,608.92	8,500.33	8,763.13	-0.15%
NASDAQ	1,577.03	1,528.59	1,774.33	1,849.42	+17.27%
S&P 500	903.25	797.87	919.14	940.09	+4.08%
Russell 2000	499.45	422.75	501.58	530.36	+6.19%
Global Dow	1526.21	1347.38	1,653.06	1,680.43	+10.10%
Fed Funds	0.25%	0.25%	0.25%	0.25%	0 bps
10 yr Treasury (Yield)	2.24%	2.68%	3.47%	3.86%	-162 bps

Economically Speaking

It looks like fixed-income traders are not the only ones concerned about the expanding debt position in this country. U.S. Federal Reserve Chairman Ben S. Bernanke warned that the government “can’t borrow indefinitely” and politicos need to take crucial steps to reduce a budget deficit that is rapidly approaching $2 trillion. Bernanke again confirmed his belief that the economy will move beyond recession by late 2009, though he also warned that the weak jobs market (among other conditions) will restrict future expansion.

Speaking of labor, the unemployment data highlighted the week’s releases and the jobless rate surged to 9.4%, a new 25-year high, as 345,000 nonfarm jobs were lost from the economy. However, even bad news becomes good news these days as economists had predicted a far more substantial loss (525,000 jobs), and the May decline was the smallest since October 2008. Still, more than six million folks have seen their jobs disappear since the recession began in December 2007 and May represents the seventeenth consecutive month of labor contraction.

In other news, the manufacturing sector appears to be on the verge of recovery (though ever-so-slightly) as the ISM index reported its best showing since September 2008. On the housing front, construction spending jumped for the second straight month and pending home sales experienced its biggest increase in eight years. Personal income surprisingly rose in April, a positive sign for future consumer activity. Though retailers reported weaker-than-expected same-store sales for May, analysts were quick to point out that Wal-Mart Stores Inc. (NYSE: WMT) is no longer participating in these reports, a decision that should skew the numbers lower because the world’s largest retailer accounts for about 10% of total retail sales. Luxury chains and department stores were among the worst performers last month, while The Gap Inc. (NYSE: GPS) benefited from a nice increase in activity at its Old Navy chain.

U.S. Treasury Secretary Timothy Geithner ventured over to China during the week where he praised it leaders for past stimulus measures (a tad different tact than used by his predecessor). Recently, China has complained about the ballooning U.S. debt and analysts remain worried about its continued participation in our Treasury auctions. The domestic powers-that-be have long criticized China about unfair trade practices and currency issues.

While the respective leaders have reservations about each other’s policies, Geithner’s remarks may be seen as smoothing over relations as our combined efforts will be imperative to securing an effective and long-lasting global recovery.

x 0

June 8

History Hints that Current Stock Market Rally May Be the Leading Edge of a New Bull Market

By William Patalon III
Executive Editor
Money Morning/The Money Map Report

If history is our guide, then the rally we’ve seen in U.S. stocks in recent weeks is more than just a periodic run-up in share prices – it’s the initial stage of a prolonged bull market.

The 13-week rally the Dow Jones Industrial Average has experienced off its March lows is the most powerful surge that index has seen since the Great Depression. If we look to history, stocks should continue to rally over the next three months.

"I say this with the utmost confidence and my fingers tightly crossed: This is the start of a new bull run," Hugh Johnson, chairman of Johnson Illington Advisors, told MarketWatch.com.

The 13-week stretch from March 9 through May 29, which saw the Dow soar 28.3%, has been bested only once – by the 40.8% run-up the Dow enjoyed in the 13 weeks that followed its hitting a bottom in May 1932. The Dow surged an additional 3.1% last week.

Going back to 1900 – in any given quarter (13 weeks) – there have been 18 cases in which the market surged 20% or more, Johnson said.

Looking at the trends, the odds are strong that the Dow will be higher three weeks from now, and that means the odds are strong that the index will be higher three months from now.

"Based on history, who knows where we’re going to be four weeks from now? But in 12 weeks, the odds are we’ll be 3.8% higher," Johnson said.
That can’t be guaranteed, however, since there has been at least case where stocks had a huge quarter, only to plunge afterward: In May 1929, the Dow zoomed 26% in 13 weeks – only to plunge 38.9% in the 12 weeks that followed.

Market Matters

General Motors Corp. (OTC: GMGMQ) officially filed for Chapter 11 bankruptcy protection and another U.S. icon has been laid to rest (until the “new” GM emerges better than ever). With another $30 billion in government aid in hand, GM quickly moved forward by financing the acquisition of supplier Delphi Corp. (OTC: DPHIQ) by a buyout firm that will help it emerge from its own bankruptcy; reaching an agreement to sell Saturn to Penske Automotive Group Inc. (NYSE: PAG); and entering into a deal to unload Hummer to China’s Sichuan Tengzhong Heavy Industrial Machinery Corp. (though regulatory “challenges” are sure to hold up that one). Meanwhile, Chrysler LLC progressed with its own restructuring Fiat SpA (OTC ADR: FIATY), much to the chagrin of about 800 dealers; and Ford Motor Co. (NYSE: F) plans to increase production to take advantage of the misfortunes of its primary competitors.

Shifting to a more “stable” industry, the Federal Deposit Insurance Corp. and FDIC Chairman Sheila Bair seem to be targeting Citigroup Inc. (NYSE: C) for a management shake-up, a move that could give regulators greater control of the one-time financial behemoth. Smith Barney brokers found their new homes as a significant joint venture between Citi and Morgan Stanley (NYSE: MS) was completed. Citi also attempted to save face from the prior American International Group Inc. (NYSE: AIG) embarrassment by announcing plans to withhold millions in previously promised severance packages to former execs. On the Troubled Asset Relief Program (TARP) front, JPMorgan Chase & Co. (NYSE: JPM), Morgan Stanley, and American Express Co. (NYSE: AXP) each revealed plans for stock offerings as they race to become the first major bank to repay “bailout” moneys. With GM now in bankruptcy and Citi struggling to overcome its own problems, the Dow Jones Industrial Average is replacing them with Cisco Systems Inc. (Nasdaq: CSCO) and The Travelers Cos. Inc. (NYSE: TRV) effective June 8.

Energy prices resumed their higher trek, as crude spiked above $70 a barrel for the first time since last October, despite reports that showed demand at its lowest level in 10 years. Goldman Sachs Group Inc. (NYSE: GS) analysts upwardly revised their projections for future global demand and warned of a “likely return to energy shortages” in 2010. As gas prices have skyrocketed about 50 cents above last month’s levels, consumers are facing pressures at the pumps that threaten to hinder some of next year’s anticipated growth in the economy.

Market/ Index	Year Close (2008)	Qtr Close (03/31/09)	Previous Week (05/29/09)	Current Week (06/05/09)	YTD Change
Dow Jones Industrial	8,776.39	7,608.92	8,500.33	8,763.13	-0.15%
NASDAQ	1,577.03	1,528.59	1,774.33	1,849.42	+17.27%
S&P 500	903.25	797.87	919.14	940.09	+4.08%
Russell 2000	499.45	422.75	501.58	530.36	+6.19%
Global Dow	1526.21	1347.38	1,653.06	1,680.43	+10.10%
Fed Funds	0.25%	0.25%	0.25%	0.25%	0 bps
10 yr Treasury (Yield)	2.24%	2.68%	3.47%	3.86%	-162 bps

Economically Speaking

It looks like fixed-income traders are not the only ones concerned about the expanding debt position in this country. U.S. Federal Reserve Chairman Ben S. Bernanke warned that the government “can’t borrow indefinitely” and politicos need to take crucial steps to reduce a budget deficit that is rapidly approaching $2 trillion. Bernanke again confirmed his belief that the economy will move beyond recession by late 2009, though he also warned that the weak jobs market (among other conditions) will restrict future expansion.

Speaking of labor, the unemployment data highlighted the week’s releases and the jobless rate surged to 9.4%, a new 25-year high, as 345,000 nonfarm jobs were lost from the economy. However, even bad news becomes good news these days as economists had predicted a far more substantial loss (525,000 jobs), and the May decline was the smallest since October 2008. Still, more than six million folks have seen their jobs disappear since the recession began in December 2007 and May represents the seventeenth consecutive month of labor contraction.

In other news, the manufacturing sector appears to be on the verge of recovery (though ever-so-slightly) as the ISM index reported its best showing since September 2008. On the housing front, construction spending jumped for the second straight month and pending home sales experienced its biggest increase in eight years. Personal income surprisingly rose in April, a positive sign for future consumer activity. Though retailers reported weaker-than-expected same-store sales for May, analysts were quick to point out that Wal-Mart Stores Inc. (NYSE: WMT) is no longer participating in these reports, a decision that should skew the numbers lower because the world’s largest retailer accounts for about 10% of total retail sales. Luxury chains and department stores were among the worst performers last month, while The Gap Inc. (NYSE: GPS) benefited from a nice increase in activity at its Old Navy chain.

U.S. Treasury Secretary Timothy Geithner ventured over to China during the week where he praised it leaders for past stimulus measures (a tad different tact than used by his predecessor). Recently, China has complained about the ballooning U.S. debt and analysts remain worried about its continued participation in our Treasury auctions. The domestic powers-that-be have long criticized China about unfair trade practices and currency issues.

While the respective leaders have reservations about each other’s policies, Geithner’s remarks may be seen as smoothing over relations as our combined efforts will be imperative to securing an effective and long-lasting global recovery.

x 0

From DBSV:

Today’s Focus

•

intact. Support at 2240 to 2300 and index should head for

2793 in coming months

There is no change in our technical view: We maintain a buyon-

pullback’ strategy. Expect the STI to pause for a breather (a

rise towards 2450 is possible before pausing) in June following

3 months of gains that started in March this year but the major

rising trend remains intact. We see near-term support at 2240

to 2300. Strong support is near the 200-day exponential

moving average at 2095. Subsequent to this anticipated brief

pause, STI should head for 2793 in coming months.

Retail sales from China and US are scheduled for release this

week. Our economist expects US retail sales to come in at +1 to

+2%, better than market consensus for a 0.5% increase. China

retail sales is also scheduled for release this year – watch Schips

consumer plays if the number surprises on the upside.STI: A pause in June but the major rising trend remains

x 0

Ausgroup does look bullish, within just 2 hrs 20 mins of trade, its volume had exceeded last Friday's volume and had touched last Friday's high of 0.645. look at my long term line chart posting in "Ausgroup" thread

richtan ( Date: 08-Jun-2009 11:19) Posted:

Looking at the long term line chart, Ausgroup is having a bullish cup formation with flagpole n bullish rising wedge with support at 0.60, followed by 0.57 n 0.515 (consolidation n failure of rising wedge).

pilotfish ( Date: 08-Jun-2009 08:53) Posted:

Ausgroup chart doesn't look good. Look like there will be a downward wave approaching soon...

Just my view ...

richtan ( Date: 07-Jun-2009 23:25) Posted:

Another bullish counter to lookout for is Ausgroup which has quite silmilar pattern as Midas.

See my posting in "Ausgroup" thread for the chart pattern.

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Ausgroup does look bullish, within just 2 hrs 20 mins of trade, its volume had exceeded last Friday's volume and had touched last Friday's high of 0.645.

richtan ( Date: 08-Jun-2009 11:19) Posted:

Looking at the long term line chart, Ausgroup is having a bullish cup formation with flagpole n bullish rising wedge with support at 0.60, followed by 0.57 n 0.515 (consolidation n failure of rising wedge).

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Looking at the long term line chart, Ausgroup is having a bullish cup formation with flagpole n bullish rising wedge with support at 0.60, followed by 0.57 n 0.515 (consolidation n failure of rising wedge).

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Another bullish counter to lookout for is Ausgroup which has quite silmilar pattern as Midas.

See my posting in "Ausgroup" thread for the chart pattern.

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Hi pilotfish,

I m glad u finally understood my posting, sorry if my posting is not well explained causing any confusion.

Not only a rising flag as per your chart analysis but also a bullish rising wedge consolidationwith plagpole as per my chart analysis below.

If nothing goes wrong with the mkt in general, it should be bullish for Midas

richtan ( Date: 05-Jun-2009 12:57) Posted:

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Hi pilotfish,

From your posting, I think u had grossly misunderstood me.

I m on the same wavelegth as u in the sense tat I too agree undisputedly with u tat Midas is on a bull run as my chart projected ( the dotted rectangle on the right, a projected bull run, which is the mirror image, symmetry, of the dotted rectangle on the left but which was previously a bear run).

Also, my point tat history repeats, wat I mean is "human nature" - greed n fear, now the mkt is repeating the greed, I m not saying tat current situation will be a repeat of the great depression.

pilotfish ( Date: 06-Jun-2009 02:35) Posted:

Hi richtan
Thanks for the research post.
Sometime it screw up the show, e.g. "SELL COSCO"

One more comment on your findings, one commom mistake is to compare a pattern between a downtrend and an uptrend. (I used to do that Smiley

)

History repeat
Comparing the great depression and the current suituation of DOW, even though they look alike but they are different if you take a closer look.

Back to our topic:
I agree with you wave analysis n chart pattern analysis are both very subjective. That's why I don't use them alone.

Due to the limited data and existence of the counter
A possible alternative wave count (no MA guided)

On the Bull side (blue arrow) the 5 waves is the final wave. On the bear side the red arrow is the first waves of the zigzag corrective mode. The dotted blue arrow, the second uncomplete wave lasting about 3 years or more than 3 years. Then the third implusive down wave lasting less than 2 years.
End up the counter become a penny stock or burst.

Is it possible? Yes but unlikely base on foundamental analysis of the company.

An impossible alternative wave count (no MA guided)

On the Bull side (blue arrow) the 5 waves is the final wave. On the bear side an uncompleted first wave of the correction mode (no sign of a zigzag, flat or triangle)
Subwave 1 completed (5 waves), Subwave 2 about 3 years, subwave 3 about a.5 years--> counter become penny stock or burst.

Again posible or not? NO .... Why, let you guess....

Either way the counter is still a bull run.
Normally, at the begining of a bull run people are unaware (got burnt during the bear trend). Economy is still in bad shape but slight improvement is seen.
People offen ask unemployment rate so high, problem still there, you call bull. Well look at GM, thinks about it ...

Just my view, for sharing and comment (Not an inducement to trade). Smiley

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Matthew,

I wish u all the best of luck if u buy the 4D.

Peronally, I dun play 4D as to me the probability is slimmer than making from stocks.

I dun have the 4D luck n dun believe in easy money but believe in earning my keeps thru my hardwork n effort.

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Alemak, still jumbled up, one last try:

DBSV Weekly Commentary

KEY POINT

Investors should maintain buy-on-pullback strategy – STI

potential pullback level 2253-2400 is mild, support at

2180-2240, upside to 2560 followed by 2793 in coming

months.

China’s May PMI beats market expectations – Positive for

S-chips

richtan ( Date: 05-Jun-2009 18:42) Posted:

Repost, dun know why always tends to jumbled up.

DBSV Weekly Commentary

KEY POINT

��

potential pullback level 2253-2400 is mild, support at

2180-2240, upside to 2560 followed by 2793 in coming

months.

Investors should maintain buy-on-pullback strategy – STI

S-chips

�� China’s May PMI beats market expectations – Positive for

richtan ( Date: 05-Jun-2009 18:38) Posted:

DBSV Weekly Commentary

KEY POINT

��

potential pullback level 2253-2400 is mild, support at

2180-2240, upside to 2560 followed by 2793 in coming

months.Investors should maintain buy-on-pullback strategy – STI

��

S-chipsChina’s May PMI beats market expectations – Positive for