GMG Global
GMG CHIONG tomoro -Flash floods hit southern Thail
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19ct will not hold....
Cannot be so quiet..... Action soon....
hahah..
Isolator ( Date: 10-Aug-2011 10:26) Posted:
| Bear rally... Whoever short will win..... |
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Bear rally... Whoever short will win.....
We were spared the carnage.
Can take position in a few days time.
For now, let the Special Forces go in.
Who Dares Win hahahah..
Isolator ( Date: 10-Aug-2011 09:50) Posted:
| Thanks to National Day...... But GMG will still continue to go down to 13ct..... Sell or short on rebound... enjoy |
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Thanks to National Day...... But GMG will still continue to go down to 13ct..... Sell or short on rebound... enjoy
I am afriad that wed, you will see GMG below 20ct and will continue to go down to around 13ct as time passes........
Looking at my charts, prices are now looking decidedly attractive for several counters (incl GMGG).
I think it is good to wait a few more days to see what goes.
Rubber became hard at 0.22. Mai kia okay.
bishan22 ( Date: 08-Aug-2011 09:24) Posted:
Good price to enter. Commodity will withstand the crisis. I entered on Friday at 0.23. No worry, just hang tight. GAR at 0.66 is also tempting.
kaoluck ( Date: 08-Aug-2011 09:17) Posted:
I am mad...but, bought some at 0.225 this morning.
Hopefully prices picked up by year end :)
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seems to have strong support at 0.21
considering almost all the bad news that is supposed to come out, has come out, plus japan still need to rebuild, dunno now if its a gd time to buy in..
unless another cty bond rating downgrade again, or euro gt some further prob again... or else i really cant think of any other bad news that can come out le
rubber prices stable :)
You are wrong.... Commodity will go for a correction.... Sell and Short will be the better choice...
Good price to enter. Commodity will withstand the crisis. I entered on Friday at 0.23. No worry, just hang tight. GAR at 0.66 is also tempting.
kaoluck ( Date: 08-Aug-2011 09:17) Posted:
I am mad...but, bought some at 0.225 this morning.
Hopefully prices picked up by year end :)
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I am mad...but, bought some at 0.225 this morning.
Hopefully prices picked up by year end :)
no buying for awhile..
Tonite Europe will go dwn again thanks to Italy..
After that Spain.. Rubber melting through the floor...
Rubber melt today, very gluey...eeeeeeeeeeeeeeeeeeeee.
hpong5 ( Date: 03-Aug-2011 11:49) Posted:
That's why cannot bounce.
bishan22 ( Date: 03-Aug-2011 10:54) Posted:
This rubber ball very hard, still at 0.25.
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faint...
heng888 ( Date: 04-Aug-2011 16:08) Posted:
More corrections ahead.
You can tell from the volume.
Its breaching 0.245 already.
Next stop 0.23.
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More corrections ahead.
You can tell from the volume.
Its breaching 0.245 already.
Next stop 0.23.
The analysis below is by Merrill lynch, 1/8.
Cut PO and earnings by 22%. New PO: S$0.36
YTD natural rubber (NR) price averages US$4.90/kg, 11% shy from our initial
forecast of US$5.50/kg. While we maintain our bullish stance on natural rubber,
we believe US$5/kg is a more achievable NR price for 2011. We thus cut our NR
price assumption by 9% for 2011. This led to a 22% reduction in GMG FY11 profit
as well as price objective. Maintain Buy.
What happened in 1H11?
Although GMG recorded 83% YoY improvement in 1H 11 profits to S$36mn, it
merely represents 23% and 40% of ours and market expectations. The
disappointment was due to GMG’s hedging policy. The old management forward
sold GMG’s entire production in 1Q11 instead of a gradual monthly hedge against
sales. This led to a total lost of S$14mn with S$4mn left unaccounted for.
New management, new style, new hope?
Coincidently, GMG’s parent company has replaced Xian Ming (former CEO) with
a new person – Yao Xing Liang prior to the 2Q11 results announcement. Based
on the information provided, Mr. Yao has extensive rubber related experience. His
last role was Head of Rubber division in Sinochem International. We understand
the first change made was to GMG’s hedging policy.
Profit catch up still possible
The resumption of Ivory Coast processing operation coupled by better weather
condition in Cameroon, in our view, are key catalysts to a better 2H11. Lastly,
stronger NR price is also vital. For the past 15 years, the rubber price (RG1
Comdty) had four flat years, four down years and seven up years. We expect the
NR price to end the year on a high note.
