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there must be some basis for investment house to downgrade its TP to 4.80.
a wise saying in chinese, Rather believe the rumour than against it. wait and watch loh.
You are right... those who have sold on the rallys would be happy...
Looking ahead ... Can SGX still deliver the same set of results??
With the low volume and low value transactions .... one has to wonder what sort of value SGX will give...
idesa168 ( Date: 26-Aug-2008 18:40) Posted:
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Mid to long term this babe is still in downtrend. The only hope to make $$ from this babe is short term, hoping for a dead cat rebound. Nearly wanted to take position @6.00 but no guts. Maybe just let her run wild and wait for her to settle down before picking her up! Could possibly pick her up below $6.00 when she settle down...hehehe
long n short this burger also don't make any, as it opened at 6.04 and lowest buy at 5.97. And closed at 6.03.
AK dare not to entangle with it again loh.
now its still trading way too high, even if sgx continue it's buy back scheme i doubt it'll make a big impact. Because everyone is forcing it down. I'm using cfd to short sell this burger since it's $6.5, targeting ard $5.6
If you are SGX, you will only initiate buy back when you are sure price is near rock bottom. With the downward momentuem still strong, SGX will not buy back now. Why would they burn cash to protect existing investor, no way I guess. I believe it will decline further. Not vested.
beware, this is the level which SGX could ramp up its share buyback scheme. SGX is cash rich and shareholder - oriented and has shown that it is capable of buying $1 million worth of shares a day.
just read the article on the SGX buyback at http://www.nextinsight.com.sg/
going to go down to 5.60 soon ! Market is short selling time !
yanggoat ( Date: 26-Aug-2008 12:26) Posted:
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wOoo drop pass 6 dollar @12.30pm ............
may be still got some hope loh.
its 29cts div XD on 8 Oct n payout 22 Oct, could be an incentive for the enthusiats. however, quite difficult to gauge the entry pt when XD comes nearer and nearer. no bottom up trend ref in TA. $2 ah, ha ha one ruler's line can reach liao.
anyway, still tracking this burger in my spreedsheet.
I don't see any light at the end of the tunnel yet for this counter.
possible below $2 ..... i open my mouth big big waiting there !
AK_Francis ( Date: 25-Aug-2008 18:17) Posted:
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ha ha not surprising TP gone down to 4.8, if the daily traded vol remains below .9b since 15 Aug.
CLSA downgrades SGX (S68.SG) to Sell from Underperform; slashes target price to S$4.80 from S$7.00. Broker says trading conditions tough; "domestic equity volumes are deteriorating faster than expectations, we believe a respite is a long way off as IPOs dry-up and retail participation ebbs." Notes last month's average daily turnover came in at just S$1.3 billion; levels last seen in FY06. Says risks to equity volume growth going forward remain on downside; cuts FY09 average daily volume assumption to S$1.1 billion vs S$1.7 billion previously. Adds hopes for derivatives growth look shaky as market participants sidelined in current macro environment, prospects for fee growth also look limited as most fee revisions already gone through in FY07/FY08. Cuts FY09, FY10 earnings estimates by 31%. Shares closed +0.5% at S$6.24 Friday
seen like free fall to 5.50
Closure of Olympics, in China. Not sure how China will affect HSI n subsequently the Asian markets? Though, DJ closed 197 higher last Fri.
I forsee $5 level price for SGX before Christmas. Like what you mentioned, I think only half the effects of the subprime is revealed. There is more to come.
ngchunleng ( Date: 22-Aug-2008 22:24) Posted:
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precisely, volume is so thin, cannot support the price. i am inclined to believe price will drop further. in fact, in next 6 months, stock market will continue to reveal effect of slowdown. as for a deep (negative) impact, it can happen too. no one is able yet to estimate the impact of subprime on usa economy.
Tai wok, vol only .645b traded whole day. My record so far for STI vol traded a day lowest is around .7b.