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3101-3120 of 5997
Sometime markets hiccup and causing panic.... As long as the trend support still can hold, it will resume back strongly... What come down sharply will bound back sharply to finish the unfinish task.... To trade, losing a few trades must not affect your next trade.....
rotijai ( Date: 23-May-2011 17:30) Posted:
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The Board of Directors of COSCO Corporation (Singapore) Limited (the
“
“Audits find irregularities in financial statements of 17 Chinese SOEs” which
states that some irregularities and disciplinary violations were found in the
financial statements of certain Chinese state-owned enterprises (SOEs)
according to audit reports released by the National Audit Office (NAO).
The Board wishes to state that neither the Company nor any of its subsidiaries
has been cited as having committed any irregularities and disciplinary violations
in the NAO report.
By Order of the Board
Jiang Li Jun
Vice-Chairman and President
23 May 2011
i think tmr might be a good day for cosco :)
According to Xinhua news, some irregularities & disciplinary violations
were found in FY09 financial statements of 17 Chinese state-owned
enterprises (SOEs), including Cosco Group, CNOOC, CHALCO & China Unicom.
Based on our channel checks, one of the unlisted subsidiaries of Cosco
Group was said to have committed disciplinary violations.
Note that the issue involves the parent company - Cosco Group & is NOT
RELATED to the Singapore-listed Cosco Corporation (COS SP). Hence, this
should not affect Cosco Corporation.
No change to our recommendation & TP on COS SP, Buy, TP $2.86.
master isolator, i will join u once it gets nearer to 1.79 :)
i am just a small player.. a few lost trade will make me broke :)
Isolator ( Date: 23-May-2011 17:23) Posted:
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Cool man!
I bought too ... small position ... just having a bit of fun ...
Isolator ( Date: 23-May-2011 16:44) Posted:
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The channel band will support it.... Only when it break 1.79 then it is over...
pointer ( Date: 23-May-2011 17:05) Posted:
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Last trade done 987,000 sell down @ 1.89
European markets are sharply lower with shares in Germany off the most. The DAX is down 1.78% while France's CAC 40 is off 1.71% and London's FTSE 100 is lower by 1.60%.
US pre market now -104.
Goodness! it seemed like account irregularities are norms in china!!
Any wonder why all those S tricks!!
pharoah88 ( Date: 23-May-2011 16:50) Posted:
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From the chart I see, its a double-top formation.
Even if the price is up tomorrow, it may likely be a technical rebound unless there is easing of selling pressure.
Anyway, its all about judgement & strategy.
Isolator ( Date: 23-May-2011 16:44) Posted:
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The next few days, analysts will ask you to buy.... lol
| Offshore Marine and Chinese Shipbuilders |
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What happened: News emerged on irregularities findings in 2009 financial statements of 17 Chinese SOEs including CNOOC. CHALCO, COSCO and China Unicom. 1.9bn RMB (US$292m) of assets and 2.63bn RMB (US$404m) of profits were found overstated while 3.43bn RMB (US$527m) of liabilities were falsely included. Some other profits, assets and liabilities were unaccounted. What we think: Share prices for the Chinese shipbuilders (Cosco and YZJ) have already reacted negatively to the news with both stocks down 3% this morning. Cosco being an SOE, with repeated provisions made over the past year and lack of accounting treatment transparency could face further sell-down with this news. YZJ's > RMB10bn of financial assets may be seen as risky by investors given the reduced confidence in the 'accuracy' of Chinese financial statements. What you should do: Stay away from Chinese shipbuilders for now given the negative sentiments. We maintain our NEUTRAL view on both stocks given the (i) execution risk in Cosco and (ii) concerns of chunky financial assets in YZJ and its earnings quality dilution. Downside risk however could be mitigated by some contract wins. |
my feeling tell me will go lower. but....expect the unexpected.
I dont need luck... I just need my charts.... This is just markets....
If a few lost trade can make me broke, then I better retired from trading.... lol
Safer to buy than short.
Downside is limited after nose diving from a high of $2.39 on 18 Apr 2011 to the present price.
Since news did not really impact on Company at this point of time and company had cleaned up most of the irregularities and working on the remaining ones, this counter is still profitable and may eventually be equivalent to Semb Marine today !! .
Or else why do Tumasek invest in it.
LOL!!
He's reali loaded, u dunno?
eastcivic ( Date: 23-May-2011 16:18) Posted:
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U are someone that does not require luck no?
Relax friend, who knows when the market rebound, your judgement will be right again.
Isolator ( Date: 23-May-2011 16:26) Posted:
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Is overdone.... Time to pay back.... go go go 2.30.... lol
Luck is always not with me... lol
gl to u :)
Isolator ( Date: 23-May-2011 16:11) Posted:
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Let's see this time round can manage to catch shorties.... lol