COSCO SHP SG    Last:0.123   -

CoscoCorp

no need surprise, I bought 70 lots above 2$.

Now you know how much I lost already, I don't play margin, all by cash.

but I am not rich, retail investor, now very very poor guy!

Gaecia      ( Date: 02-Aug-2011 22:31) Posted: o_O wah lau, you  can throw $100k into this ship....such efforts  sure can  keep it afloat?  Peg_li      ( Date: 02-Aug-2011 22:27) Posted: if really go down to 1$, will buy another 100 lots to average, otherwise can't cover the loss!

 

o_O

wah lau, you  can throw $100k into this ship....such efforts  sure can  keep it afloat? 

Peg_li      ( Date: 02-Aug-2011 22:27) Posted: if really go down to 1$, will buy another 100 lots to average, otherwise can't cover the loss!

 

if really go down to 1$, will buy another 100 lots to average, otherwise can't cover the loss!

 

$1.50 is taken out today but haven't confirm below yet, so there is a possible chance it could make a bounce after the huge sell-off today. 

I would be looking for side-way consolidation over the next couple of days to form a bear flag for now before putting in more shorts (possibly at either gap filled $1.685 or gap window $1.595).

Expecting some small bounces along the way. 

Major support is estimated at 1.30 followed by 1.00.

Major resistance is estimated at 1.60 followed by 1.70.  

Good Luck :p 

Below is the updated chart.

 

 

LOL!

I agreed :)

iPunter      ( Date: 02-Aug-2011 22:07) Posted: You said you are not rich...       but yet you still practise averaging down...                 I'd say that is more like " mm zai si" ...                         Averaging is only for rich people                                 who can afford to lose a lot.... Flyordie      ( Date: 02-Aug-2011 21:32) Posted: Sorry, while most of you sell... i b...u...y... I am not rich, but i have little kacang $ to hold... Wait until it bounce back....   note: i bought 6 lots at $1.495 #$%^& *(

 

* " mm zai si " means " garang" ...

 

You said you are not rich...

      but yet you still practise averaging down...

                I'd say that is more like " mm zai si" ...

                        Averaging is only for rich people

                                who can afford to lose a lot....

Flyordie      ( Date: 02-Aug-2011 21:32) Posted: Sorry, while most of you sell... i b...u...y... I am not rich, but i have little kacang $ to hold... Wait until it bounce back....   note: i bought 6 lots at $1.495 #$%^& *(

 

Oil price dropping.

1035834      ( Date: 02-Aug-2011 21:58) Posted: But Cosco still has oil rig business.....not only shipping Why people so panic selling !! Seen 1 quarter result can kill the company remarkable result in the past .

 

But Cosco still has oil rig business.....not only shipping

Why people so panic selling !!

Seen 1 quarter result can kill the company remarkable result in the past .

 

 

Sorry, while most of you sell... i b...u...y...

I am not rich, but i have little kacang $ to hold...

Wait until it bounce back....

 

note: i bought 6 lots at $1.495 #$%^& *(  

 

There's really no point for anyone to talk good about the market...

    We just need to respect the market's own decision... period.

 

The last time Cosco hit this kind of price was more than a year ago. It it goes even more lower than this, forget about any counters out there because everything will crash.

I think the economuy is still on the uptrend. But as has seen before, there will be hiccups along the way. Today's steep fall was just a combination of several factors. One, fear about the US. Two, lowered profit reported by Cosco. Three, shorters just taking opportunity wiht the fear factors back in play.

Just look at YZJ. Is there any reason for this to also fall so much ? What with high oil prices and big rig orders in ?

risktaker      ( Date: 02-Aug-2011 19:27) Posted: Most likely be trading with 1.2x-1.3x range. Unless there is really something bad happening to the global economy you will then see it below $1.00 and it will happen to many stocks not just cosco.... if you see it one day. STI might be 2800 or below. Bintang      ( Date: 02-Aug-2011 18:42) Posted: If measure from the gapping down price at $1.595  , Cosco could go down to 95 cents technically , because its width of the downtrend channel is 65 cents

 

Cosco Corp. Singapore (COS SP), the shipbuilding unit of China’s biggest shipping company, slumped 14% to $1.455, the steepest decline since October 2008. The company said second-quarter net income fell 53% from a year earlier to $31.9 million. Citigroup Inc. cut its rating on the stock to “sell” from “buy,” saying profit margins will remain weak as the company faces challenges in executing rig orders.

 

Cosco Corp. Singapore plunged the most in almost three years in Singapore trading after the shipbuilding unit of China’s biggest shipping company said higher costs and lower vessel prices may reduce profit margins. Cosco Singapore dropped 14.2%, the biggest decline since Oct. 15, 2008, to $1.455 at the close of trading in Singapore. The stock is the worst performer on the MSCI Asia Pacific Index today. Operating margins may “be under greater pressure,” as Cosco Singapore builds ships from contracts won in 2010 at lower prices because of the slump in the bulk shipping market, according to a statement on second-quarter earnings the company released yesterday. The shipbuilder’s results were “disappointing,” Nomura Holdings Inc. said in a report. “The weak second-quarter numbers reflect continued weakness at the company’s shipbuilding and offshore engineering business as margins have been affected by execution issues, delivery delays, higher material and labor costs,” Lisa Lee, a Singapore-based analyst at Nomura, said in a note yesterday. “This will likely mean margins will be even lower in the second half.” She has a “reduce” recommendation for Cosco Singapore shares. UOB Kay Hian cut its recommendation on Cosco Singapore shares today to a “hold” from a “buy” and lowered the target price to $1.75 from $2.50. CIMB Group Holdings Bhd downgraded the stock to “underperform” from “neutral” and trimmed the target price to $1.40 from $2.30. Net income in the three months to June 30 dropped 53% to $31.9 million, while sales gained 3% to $996 million, the company said. Gross profit, or sales minus the costs of goods sold, fell 38%. That lowered its margin to 7.5% from 13% a year earlier. Other Chinese shipbuilders also fell. China Rongsheng Heavy Industries Group Holdings declined 5.9%, the biggest drop since June 8, to HK$4.51 ($0.69) at the 4 p.m. close in Hong Kong. Yangzijian Shipbuilding Holdings dropped 5%, the most since July 18, to $1.34 in Singapore. The average price of a bulk ship dropped 26% last year from the end of 2008, according to Clarkson Plc, the world’s largest shipbroker.

 

Most likely be trading with 1.2x-1.3x range. Unless there is really something bad happening to the global economy you will then see it below $1.00 and it will happen to many stocks not just cosco.... if you see it one day. STI might be 2800 or below.

Bintang      ( Date: 02-Aug-2011 18:42) Posted: If measure from the gapping down price at $1.595  , Cosco could go down to 95 cents technically , because its width of the downtrend channel is 65 cents . Bintang      ( Date: 02-Aug-2011 18:33) Posted: RSI is at all time low since last crisis , the trend is very weak now

 

YZJ, STXOSV and Ezra also like sheet.

iPunter      ( Date: 02-Aug-2011 18:59) Posted: That would surely be pengsan     It could pave the way for many other                 counters to drop like sheet too...

 

That would surely be pengsan

    It could pave the way for many other

                counters to drop like sheet too...

 

Like that many will die.

Bintang      ( Date: 02-Aug-2011 18:42) Posted: If measure from the gapping down price at $1.595  , Cosco could go down to 95 cents technically , because its width of the downtrend channel is 65 cents . Bintang      ( Date: 02-Aug-2011 18:33) Posted: RSI is at all time low since last crisis , the trend is very weak now

 

If measure from the gapping down price at $1.595  , Cosco could go down to 95 cents technically , because its width of the downtrend channel is 65 cents .

Bintang      ( Date: 02-Aug-2011 18:33) Posted: RSI is at all time low since last crisis , the trend is very weak now . Bintang      ( Date: 02-Aug-2011 18:22) Posted: Filling the gap very soon

 

RSI is at all time low since last crisis , the trend is very weak now .

Bintang      ( Date: 02-Aug-2011 18:22) Posted: Filling the gap very soon . Bintang      ( Date: 02-Aug-2011 12:00) Posted: Slowly it would go down to fill this gap