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STX PO extended gains, tracking its Korean listing that rose on news that it would be included in the Korean MSCI Index.
CIMB says BDI likely to continue to rally; "we believe that after a sharp correction in dry freight rates, the time is near for a resurgence that will take rates back to recent peaks." Says earlier-than-expected conclusion of iron ore price negotiations, reduced Chinese coal exports, growth in Chinese coastal trade, modest new ship supply to boost shipping rates. But stock in overbought territory on technical indicators, volumes tailing off; suggests shares may fail to break through resistance at Jan 8 intraday high of $3.14 in near-term.
Hi jackjames.. u r rite.. so volatile tat i managed to clear at 2.66. heehee.. lookin at DJ performance today.. most counter should perform better than today man.. .
Cheers
SEOUL (Thomson Financial) - South Korean shares gained further ground in afternoon trade on Tuesday after the government released January data showing consumer confidence was at its highest level in more than five years, adding momentum to local trading after Wall Street's overnight advance. At 1:53 pm (0453 GMT), the KOSPI index was up 13.15 points or 0.8 percent at 1,653.82.
The National Statistical Office announced that the consumer expectations index, which measures sentiment for the next six months, rose to 105.9 in January from 104 in December. It was the strongest level recorded since September 2002, when it hit 106. A reading above 100 indicates that respondents who are optimistic about the economy, living conditions and consumption growth, outnumber those who are pessimistic. The latest monthly reading may signal a rise in consumer spending over the coming months, which should give critical growth momentum to the economy, especially at a time when investors fear a US recession would lead to a global economic slowdown. eunkyung.seo@thomson.com es/nt/zr es/nt/zr COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
no probz...just a view from a technical side...not 100% accurate all the time and as we can see in this case of STX PO...although charts were pretty bearish after Friday's close...surprisingly it shot up yesterday and today...
hope like what u said...it will go up well for those of ya guys invested
Thank jerry85 for the feedback. But I am more long term invester but I do believe that STX can have lot of up n down swing due to its volatily, hopefully STX can survive the storm n grow high n stronger that come together with ongoing uptrend of the dry bulk business.
http://www.hellenicshippingnews.com/index.php?mod=article&cat=Topstory&article=8821
Not sure on the authenticity of the news but just wish to share with forum members.
Wanted to vest more but no bullet....
Have been monitoring STX PO for quite some time. Finally vested before CNY. Hope all go well.
Dow futures is still at -ve 15.
You'll need to manually calculate it.