Latest Posts By elfinchilde
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| 13-Jul-2008 20:22 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Actually, i have one question, if any forumer would be able to provide the answer, i should be much obliged: How much US Treasury bonds does our govt (and linked GIC/Temasek) hold? Because part of the US Treasury bonds are freddie/fannie packaged securities. So if these two collapse (which frankly, to me is just a matter of time; even if not complete collapse, it's going to be desperate options), and we're holding some of it, our govt will have to write off essentially worthless investments. So if they do fall into conservatorship, a subsequent run on US investments by foreigners will be expected. so for the common folk here, who are wondering what the hell US subprime mortages have to do with them: you can expect wages to go down, GDP down, inflation up, prices up. especially since US is one of our top two export markets, and we're heavily US-dependent. (Malaysia being our other main market: and Malaysia is nicely tangled in the Anwar-Najib mess now). chaos theory applies due to the deep interlinkages of the global markets. note: above is a worst case macrotrend scenario for the next 6-12 months. I should expect meantime handling of the markets since US election is in Nov. so reality should only sink in around Dec-Jan 09, when the Bush admin hands over to McCain/Obama, and leave them to clear up the mess. |
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| 13-Jul-2008 20:13 |
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a little reading for the forumers here, before next week starts. Pay attention to the single line i've bolded if the rest is too much info. especially, the snapshot that accompanied this article: they say a picture paints a thousand words. lookit ol' Bernie. 
IndyMac has been ran upon. Our own economy shrank 6.6% in 2Q2008. draw your own conclusions. ----------------------- July 11, 2008 U.S. Weighs Takeover of Two Mortgage Giants By STEPHEN LABATON and STEVEN R. WEISMAN WASHINGTON — Alarmed by the growing financial stress at the nation’s two largest mortgage finance companies, senior Bush administration officials are considering a plan to have the government take over one or both of the companies and place them in a conservatorship if their problems worsen, people briefed about the plan said on Thursday. The companies, Fannie Mae and Freddie Mac, have been hit hard by the mortgage foreclosure crisis. Their shares are plummeting and their borrowing costs are rising as investors worry that the companies will suffer losses far larger than the $11 billion they have already lost in recent months. Now, as housing prices decline further and foreclosures grow, the markets are worried that Fannie and Freddie themselves may default on their debt. Under a conservatorship, the shares of Fannie and Freddie would be worth little or nothing, and any losses on mortgages they own or guarantee — which could be staggering — would be paid by taxpayers. The government officials said that the administration had also considered calling for legislation that would offer an explicit government guarantee on the $5 trillion of debt owned or guaranteed by the companies. But that is a far less attractive option, they said, because it would effectively double the size of the public debt. The officials also said that such a step would be ineffective because the markets already widely accept that the government stands behind the companies. The officials involved in the discussions stressed that no action by the administration was imminent, and that Fannie and Freddie are not considered to be in a crisis situation. But in recent days, enough concern has built among senior government officials over the health of the giant mortgage finance companies for them to hold a series of meetings and conference calls to discuss contingency plans. A conservatorship or other rescue operation would be the second time in four months that the Bush administration has stepped in to engineer a rescue to prevent the financial system from collapsing. Last March, it forced the sale of Bear Stearns to JPMorgan Chase to avert a bankruptcy of that venerable investment house. Officials have also been concerned that the difficulties of the two companies, if not fixed, could damage economies worldwide. The securities of Fannie and Freddie are held by numerous overseas financial institutions, central banks and investors. Under a 1992 law, Fannie or Freddie could be put into conservatorship if their top regulator found that either one is “critically undercapitalized.” A conservator would have sweeping powers to overhaul them, but would not have the authority to close them. The markets showed fresh signs on Thursday of being nervous about the future of the companies. Their stock prices continued a weeklong slide, hitting their lowest level in 17 years. The debt markets, meanwhile, pushed up the two companies’ cost of borrowing — their lifeblood for buying mortgages. The companies are by far the biggest providers of financing for domestic home loans. If they are unable to borrow, they will not be able to buy mortgages from commercial lenders. In turn, that would make it more expensive and difficult, if not impossible, for home buyers to obtain credit, freezing the United States housing market. Even healthy banks are reluctant to tie up scarce capital by offering mortgages to low-risk home buyers without Fannie and Freddie taking the loans off their books. Together the two companies touch more than half of the nation’s $12 trillion in mortgages by either owning them or backing them. They hold more than $1.5 trillion of the mortgages as securities. Others are sold to investors in the form of mortgage-backed bonds. In recent weeks, the companies have spiraled downward, undermined by declining confidence in their future and shaken by sharp declines in their assets as the housing markets have continued to slide and foreclosures have risen. In the last week alone, Freddie has lost 45 percent of its value, and Fannie is off 30 percent. Expectations of default at the companies have also risen; it costs three times as much today to buy insurance on a two-year Fannie bond as it did three years ago. Analysts expect the companies to announce a new round of write-downs and possibly be forced to raise capital by issuing additional shares, which would dilute their value for current shareholders. Despite repeated assurances from regulators about the financial soundness of the two institutions, financial markets have concluded that by some measures they are deeply troubled. Freddie, for instance, is technically insolvent under fair value accounting rules, in which the company puts a market value on assets as if it had to sell them now. Although Treasury Secretary Henry M. Paulson Jr. and Ben S. Bernanke, the chairman of the Federal Reserve, passed up invitations by lawmakers on Thursday to seek legislation to deal with the crisis, officials said that the administration had been privately considering a government takeover should the markets continue to turn against the companies. At a hearing of the House Financial Services Committee on Thursday, both Mr. Paulson and Mr. Bernanke were guarded, carefully trying not to say anything that could further erode confidence in Fannie and Freddie. They both said that the regulator of Fannie and Freddie had found that they were, in the words of Mr. Paulson, “adequately capitalized,” meaning that they had sufficient cash and other assets to withstand the turbulence in the markets. “Fannie Mae and Freddie Mac are also working through this challenging period,” Mr. Paulson said. Neither official would address a question posed by Representative Dennis Moore, Democrat of Kansas, who asked whether the failure of either institution would pose a risk to the financial system. “In today’s world I don’t think it is helpful to speculate about any financial institution and systemic risk,” Mr. Paulson said. “I’m dealing with the here and now, and the important role that they’re playing and other financial institutions are playing.” Mr. Bernanke said that Fannie and Freddie “are well-capitalized in the regulatory sense” but added that they, and other major financial institutions, needed to raise their capital levels further. Despite repeated denials by officials in the Bush and prior administrations, financial markets have long assumed the government would stand behind Fannie Mae and Freddie Mac in times of difficulty, both because they are integral to the housing and financial markets and because the companies have a line of credit to the Treasury. But Congress set that credit more than 38 years ago, long before the companies rose to such size and prominence, and its limit, $2.25 billion for each, has become a tiny fraction of the companies’ overall debt. Some analysts have begun to propose that the Fed also permit the two companies to borrow from it, as Wall Street investment banks began doing after the rescue of Bear Stearns. But there is no indication that the Fed is contemplating such a move. On Thursday, the rapid sell-off of shares of Fannie Mae and Freddie Mac came after a former central banker made comments that the companies might not be solvent, and an analyst at UBS issued a report critical of Freddie Mac. The turmoil also shook the debt of the companies, with one main measure indicating that their cost of borrowing has risen to the highest level since mid-March, when the government rescued Bear Stearns. Throughout the day, senior officials sought to reassure the markets about the financial health of Fannie and Freddie. Later in the afternoon, James B. Lockhart, the regulator who oversees the two companies, issued a statement that his agency was carefully watching the companies’ “credit and capital positions” and said that they were adequate to get through the current turmoil. Fannie Mae issued a statement saying that it remained financially strong. “Our company has raised more than $14 billion in capital since November 2007, including $7.4 billion most recently in May,” the company said. “As our regulator has stated, and has reiterated in public statements this week, we are adequately capitalized.” Sharon McHale, vice president for public relations at Freddie Mac, said: “Our regulator has emphasized that we have continued to maintain the highest capital rating, and we are in the market every day. We’ll continue to do so.” Shares of Freddie Mac plunged more than 30 percent and Fannie Mae’s more than 20 percent in the first hour of trading on Thursday. By the close of trading, Fannie shares had fallen nearly 14 percent, and Freddie shares had dropped 22 percent. It was the second straight day of declines for the companies. While their stocks trade on the New York Stock Exchange, Congress created the two companies to promote housing, and the marketplace has long come to believe that they would be bailed out should they become insolvent. They hold a far lower level of capital than banks do. In recent years, they have both suffered from accounting scandals and management shake-ups. Neither Mr. Paulson nor Mr. Bernanke, at the hearing on Thursday, would answer a question about whether Congress needs to give the regulators more tools to deal with the possible insolvency at either company. “I don’t think we should be speculating or talking about what-if’s with any particular institutions, and so with Fannie or Freddie, what I’m emphasizing is that the tool that I want is the reform and the reform legislation that would inject confidence into the marketplace,” Mr. Paulson said, referring to a measure that would revamp the oversight of the companies. The problems of the two companies spilled onto the campaign trail on Thursday when Senator John McCain, the presumptive Republican nominee for president, said he supported federal intervention to save Fannie or Freddie from collapsing. “Those institutions, Fannie and Freddie, have been responsible for millions of Americans to be able to own their own homes, and they will not fail, we will not allow them to fail,” Mr. McCain said during a stop at the Senate Coney Island Restaurant in Livonia, Mich. “They are vital to Americans’ ability to own their own homes. And we will do what’s necessary to make sure that they continue that function.” Jason Furman, the economic policy director for the Democratic presidential campaign of Senator Barack Obama of Illinois, said that Mr. Obama “believes the Bush administration’s willful neglect of warning signs in housing, in financial markets and in the job market, have compromised the nation’s housing finance system.” “The challenges facing Fannie and Freddie are part of the broader weakness in our economy,” Mr. Furman said. Senator Charles E. Schumer, Democrat of New York and chairman of the Joint Economic Committee, said that the markets should rest assured that the mortgage giants have a “federal lifeline” and would not be allowed to fail — though he said he thought a government rescue would not be needed and should be a last resort. |
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| 13-Jul-2008 16:51 |
COSCO SHP SG
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CoscoCorp
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think this kind of thing is actually quite common, it's just whether they get caught or not. if you ask me, it's more likely that someone reported him, o/w, i don't think MAS is that fast enough that they can track ppl. So many stocks: how to monitor all? Plus, the standard query/reply: TH announced, SGX query: "Do you know of any reasons to account for the sudden change in the price of your company?" Company reply: "We know of no material information that leads to the sudden change." Trading continues.
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| 13-Jul-2008 15:53 |
Others
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Question from a newbie
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heya noobie, those are warrants, which are leveraged products on either indices (HSI, STI etc) or stocks. call warrants mean you're bullish on a counter (expect it to go up), put warrants mean you're bearish (expect it to go down). how you read a warrant is as such: counter, strike px, issuer, type of warrant, call/put, date of expiry. So: if it's HSI 210000 MBL E PW 080828: 1) You're playing on the HSI. 2) The strike level is 21,000. 3) MBL is the name of the issuer 4) E = european type warrant. as opposed to american (which are rarely available here anw). European warrants means you can convert it anytime; american warrants can be encashed only at expiry. that's if your base is a stock. 5) PW = put warrant. 6) Expiry date of warrant is 28th aug 2008. ---------- ie, you're buying a put warrant on the HSI, for it to be below 21,000 by 28/8/08. for calculation purposes: if you wish to estimate the value of your warrant by a specific date: go to http://sg.warrants.com/singapore/en/home.cgi , and find your warrant, use the calculator for an estimate. note, if you're new to stocks, i'd seriously advise you to steer clear of warrants at the start. they are highly leveraged and volatile instruments: you can easily lose 25% or even 100% in a single day. Of course, you can easily make just as much. So if you're into warrants, your technical skills must be good. Selection of warrants isn't that easily done, either. you need to note expiry date, and volatility of the warrant (esp if you're trading it). Time decay is an impt factor: even if you're right on your call, but the date is too close to the expiry, you're likely to be in the red. apparently, 90% or more of warrants expire worthless. So i'd actually advocate trading warrants rather than holding to expiry date. cheers. |
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| 12-Jul-2008 14:57 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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hehe. and you've got a good post rating from me, CWQuah. yea, fully agreed. livermore, it's not so much the ticks and crosses i'm personally against, it's the mindset behind giving it. And yups too. dang dow didn't break its support. which means it's still rangebound. til then, the elf is still in  mode.
on other news: watch out for release of Lehman Brothers' results. that's the other coy that's rumored to be insolvent/bankrupt soon. this will be your other mover and shaker apart from freddie and fannie. weekend! shut off the screens! 
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| 11-Jul-2008 23:09 |
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STI to cross 3000 boosted by long-term investors
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edit: apologies for the multiple postings. but here ya go. latest on freddie and fannie: http://money.cnn.com/2008/07/11/news/companies/fannie_freddie_shares/index.htm --note that one of the options of a conservatorship is that shareholders may end up with zero, if the govt steps in to rescue them. yuppers, TA also works for indices. the thing is, where do you get the sti graph from? show the way! 
djia is actually on a triple bottom, if you draw the lines. That's why i say it's range bound and has to decisively break either way out of 11,100 or 11,400. it's just mooning at this range currently. 
(if talking about fast scalps): BBs. well. let's see what they do on mon. i don't know for sure. we're small fries: can only follow. don't get glug glug glug in the aftermath of a wave. if you're a scalper, ya gotta realise that the odds are always against you. so run fast, run small. live chicken, not dead tiger!
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| 11-Jul-2008 22:57 |
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STI to cross 3000 boosted by long-term investors
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heya redash, no prob. :) freddie and fannie article: http://bloomberg.com/apps/news?pid=20601087&refer=home&sid=aWbut4slfr_4 --this is where i got the figures of 75bil and the little fact that they own nearly half of the US mortage market of 12 trillion. plus a day or so ago, one analyst had said that the two coys were "practically insolvent". If these don't raise alarm bells in your head, nothing will. Note date of article: 7th jul. --------- oil and gold pxes can be gotten off money.cnn.com. ------- gold BUSD: check today's data. you'll see a lot of X trades. they're mostly buy ups, because the queue shifts higher aft. indication of buying from seller. bullish sign. note that gold traditionally moves counter to stocks. so when gold rises (esp like today, $13 in one day) and stocks rise, it's the surest sign of an unsustainable rally. --------------- a lot of counters going up and up: are you sure it is a broad based recovery, or is it merely rotational play? Volume is key: what was the volume traded on SGX last year, and now? A rally is defined as a broad based one, on sustained volume and sustained increases. Not up, then down to flat, and up again. --------- BB 'ganging up'. Look up the structure of a brokerage/fund house. Who plays? How do they play? The concept of BBs should not just a nebulous one. Concretize it. All i can say is, never underestimate the power of Big Money. 
-------- final tip: BB also have one saying: buy on rumor, sell on news. cheers.
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| 11-Jul-2008 22:34 |
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STI to cross 3000 boosted by long-term investors
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hehe, stupidfool, i consider those as evidence. 
the point is, if you disagree, say it out, nicely, rather than just giving a bad post rating. that's a coward's way of doing things. alternatively, it's simply that one's being childish, and by hiding behind the anonymity, you gain a temporary pleasure/vindication out of giving someone a bad mark just because he/she disagreed with something you believe in. which really, says a lot about one's character, or lack thereof. And if we were to extrapolate it: what do we teach our children this way? that if you disagree with or are unhappy about something, you just hide and do 'sneak attacks'? No wonder we're a nation of closet complainers. We don't even dare to speak out for ourselves. This has got to be one of the things i dislike most about being singaporean. No guts to stand up for your own opinion. Though i guess, it boils down to our culture that only accepts success/right and not failure/wrong. If you truly believe in something, speak out for it. If you truly believe in something, stand up for it. And if one doesn't dare to, it perhaps simply means that one never believed in it. In which case, what is it but a life of blind obedience? How many of us truly live, rather than just exist? How many of us have our own minds, and are capable of independent thought? Or do we merely follow the rules of society, and cast down and criticise those who are independent sparks? It's the singaporean way to just be armchair critics. But what's life without enthusiasm and fire; that's simply "ahhh, like that lor. can't do anything." "He's so stupid to stand out. Why bother." What is that but apathy and complacent criticism. There's the thought for the weekend. hehe. wheee! playtime. let's hope i can earn a little agouti guinea pig sometime. they're adorable!
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| 11-Jul-2008 18:32 |
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STI to cross 3000 boosted by long-term investors
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hehe,  to onesharer for posting a reply.
and in case anyone's thinking i'm being a sot elf (which really, is what i usually am ), nopers.
am doing so cos i think, as responsible investors, we should have the guts to put out what our opinions are, nevermind if they are right or wrong. Because the aim of a forum is to share ideas and information, even contradictory ones. And if people just give good/bad ratings, it often doesn't mean anything other than 2, 3, or 4 (of the reasons onesharer gave in post below). If it's 1, it should be posted out, since there may be valid reasons for disagreement: if you don't post out the reason, but just give a rating, what are people suppose to infer from that? there is no reason given. eg, some of the forumers whom i respect here, even tho my calls may not always agree with them, are people like bengster (on the biosensors thread) and cashiertan, and singaporegal too. because they dare to put out what they really think, and have evidence to support it. it's not about being right or wrong, most of us are small fries with no additional info, and are just learning. So it's about sharing so that everyone can learn. that's where it's a positive experience. |
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| 11-Jul-2008 17:41 |
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STI to cross 3000 boosted by long-term investors
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 who are the kind of people who keep giving bad post ratings just because we're warning people to be cautious? if you've got evidence, post it out and give your opinion.
or what, keep calling "cheeonnngg ah!" and "huatt ahhhhh" despite evidence to the contrary? zhong1 yan2 ni4 er3. let's be rational. markets move on emotions: all the more, if you're a good trader, you have to be completely, brutally, rational. DJIA has Gen Motors reporting tonight; trade balance and UoM data are also out. DJIA is rangebound. it needs to break out of 11,100-11,400 either way decisively. til then, it is not a buy nor sell signal. local market has been 'cooked' this past week. it isn't foreign players in; it's local BBs. yl ran from 1.7 to 2.1. CE from 40.5 to 48.5. Li heng from 50 to 60. swiber from 2.01 to 2.24. approx 25% profit in three days. if you were in, tell me, logically, would you still hold it over the weekend? fast scalps need a rapid trading mentality. never be the one left holding the baby at the end. |
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| 11-Jul-2008 15:26 |
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STI to cross 3000 boosted by long-term investors
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will admit that i'm itching to play tho. cannot. must control. bad elf. >~< the US is rising on bad news. a bailout of freddie and fannie would require at least USD 75 bil. that'd suck up all the liquidity from the market. oil has risen $5, gold has jumped $13: go look at the BUSD for gold today: 400 lots sold, 4,000 lots bought. Majority married trades. doesn't make *sense*. |
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| 11-Jul-2008 13:54 |
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STI to cross 3000 boosted by long-term investors
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what gives... hope. and in a word, "cooking". haha. should like this to be a real recovery; altho tech-wise, a lot of counters are going from oversold to overbought in just one/two days; that's not a good sign for sustainable recovery. in other news, note that gold has jumped $13 in one night, even as stocks jumped. *crosses fingers, eyes and toes* |
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| 11-Jul-2008 01:19 |
ST Engineering
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ST Engg
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eh. no naked short, no contra. it's risk management for me; part of the discipline. one can predict the trend, but to have to predict it within a fixed time frame, you're only adding on extra parameters for error. the only time i'd ever do shorting is if i get a cfd acct; even then, i'd be very cautious how and on which stock. on the whole, i prefer to focus on one direction, though i can call both ways since the techs are the same. but the more white noise you eliminate, the simpler you keep your system, the better the chances of consistent success. |
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| 10-Jul-2008 17:02 |
Biosensors
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Is Biosensors a good buy?
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investor. there's a basic principle of money management in TA known as a stop loss. No technical person would ever accept a 'limitless' loss, or even a loss to zero. That's irrational logic. I believe most of the senior forumers who are techies here use stop losses of 5-10%. Also, how high a stock can go to can be reasonably calculated by past precedence. And for the record, i don't do shorting. Can understand the sentiments of the people vested in this counter tho. And between me being right and a lot of small fries dying; i'd rather i'm wrong and they have their chance to run. in the end, no point talking so much. let the counter prove itself. Short term dead cat's bounce capped to 59c, longterm down is the tech call.. (any other TA person can weigh in?) let's see how high it can go to. hehe. louis_leecs, lets see your bb prove themselves. :P (and also for the record: there are no foreign BBs in this counter.) |
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| 10-Jul-2008 16:07 |
Biosensors
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Is Biosensors a good buy?
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donttalkrubbish: how did i conclude that 49c was too high to buy: because the only support for biosensors in the past year was 67c. The earlier supports go back to May 2005 and Jun 2006: px of ~ 57c. once these break, the fall is potentially limitless: No TA can show you what the lowest bottom is likely to be. Going by longterm techs at time of my post then though, it's not halfway through its fall yet. It needs to find its natural support at whatever price that may be. The conceivable lowest support can be derived via FA calculations. There may be a brief rebound sometime soon tho. Too oversold; though i would cap that rebound at 59c max, if even that. If louis_leecs' "angmoh remiser bb from gg" would like to prove me wrong, go ahead and ramp up this counter. All the small fries in here would be very happy to bail at a profit. haha. But back to topic. FA facts: options of 2,000 shares were granted to employees. this means share overhang and reduction of value to existing share holders. if you read their AR, they are in fact a loss making company (nevermind whatever 'future prospects' they have in store: Jade, Dayen all had "future prospects" too.). We'lll simply speak on concrete facts rather than hope: EPS is negative. NAV is USD 9.48c. Means full valued 1.5x book to price is 19.3c in S$ for this baby. Even at 46c, means you're paying 3.6x book to price for this coy. (yes, i know bengster will say few people understand the biopharm industry etcetc, and i have full respect for him for the amount of info he has given. but then, my focus is not industry: i'm talking financials: who cares what industry a stock is in: when it comes down to accounting, they are all the same. Dollars and cents. Profit, or loss only.) one of their substantial shareholders had sold stake in this coy on Jun 10. When a coy buys up another, it goes into negative equity for the short term as you have to pay for the company you're buying. Takeover/buyouts occur usually at 25% premium of the last 5 transacted days. as an additional aside: go check out for yourselves the share float of biosensors, and calculate exactly how much profit is necessary to justify its current px. Its float is too big to be a cornered stock. It simply means it's good for manipulation. |
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| 10-Jul-2008 04:11 |
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DOW
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-236 points. ok, now this was a shocker. still wondering if my eyes are seeing rightly. o_0 and if it's dropping so much on no major news, i don't want to know what news will do to it. (-_-")..... |
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| 09-Jul-2008 22:22 |
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DOW
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well, the dow went up 150 pts yesterday because oil down and bernanke talked. equally 'predictable'. hehe. but seriously, djia has been falling for days. it should be in a holding pattern til Gen Motors reports results on fri. it does need to go up a bit. can't keep falling for what, 6 sessions? |
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| 09-Jul-2008 22:17 |
Biosensors
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Is Biosensors a good buy?
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yea... cashiertan and i don't always agree with each other's reading on counters. since we're all independent practicioners. so really, when two or more people agee (trader88 holds the same TA view....), there's gotta be something there. note that this counter falls on back of a broadly rising market.
and this is where i'll contradict cashiertan. hehe. DCA is a good strat: BUT, you must know the stock you are using it for; who are the players in it; what is it supported by, and your timeframe. Personally, as with china plays, i wouldn't use DCA on this counter at all. 
for the sakes of the good people in here tho, i should hope louis leecs is right and the counter goes up. trader88, no problem with what you said. i had said what i did because some time back, there was this huge whole debate about TA vs FA, and "one's better than the other", when really, if a person can't read charts, he/she's much better off doing longterm investing via FA. and vice versa for the shorter term folks. i do agree that application of FA ala Buffett's strict criteria doesn't quite fit the s'pore market tho: we're simply too small.
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| 09-Jul-2008 14:15 |
Biosensors
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Is Biosensors a good buy?
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It is not "doom" we are predicting, ironside. We're simply saying what the charts are telling us. Not that we are 100% right, but that by probability (which is what TA is all about), chances are that biosensors is going down. If the counter appears to be going up, that'd what we'd be saying, too. TA people are realistic people. We see the trend, and call it as such. as for the fallacy of people needing medical items, hence it's recession proof etcetc: we all need cars, public transport, retail goods, telecommunications, and in MNC form, banks, airlines, etc, too. But take a good, hard look at what is going on, not just in singapore but worldwide. There is no industry that is insulated from global pressures. "Need" doesn't stop a stock from going down in a down market. Where FA matters is when a market recovers, as that is when a stock will pick up, when the BBs decide that it is worth a buy. So the question that a biosensors investor needs to ask: when the market turns about, is this one of the stock picks of the BBs? The jury's still out on that, since historically, it'd take at least 14 months to recover from a bear. and eh....be nice, trader88.....some people do win on FA. not about one method = best. it's just what suits a person best. :) |
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| 09-Jul-2008 12:55 |
Biosensors
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Is Biosensors a good buy?
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redash, margin players or not should not affect yout TA. This is in fact one of the best counters to play on TA. Check your parameters instead. volume is a necessary criteria for most of the techs you're using: williams, a/d, chaikin etcetc. Note that biosensors volume has fallen from its May peak of 24mil to 3mil today. So the techs you use have to change to suit the counter. still hold by my call that it isn't even midway through its bottoming yet. those in could probably hope for a dead cat's bounce sometime though, but i personally wouldn't give it a very high bounce as long as it's still downtrending over the midterm. besides, there are margin players EVERYWHERE. how do you think the local BBs play? They aren't that rich that they can afford to stump up pure cash for each play. |
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