SGX    Last:14.34    -0.02

SGX

SGX may be topping out. Acc/Dist and Chaikin are starting turning downwards. 

 

Jennlsk... :)

Good trade... 

 

hi august,

the 'phenomenon' you described is known as churning. ie, BB play--they are 'switching hands' on the counter. So each person gets to profit a bit. When the changeover has occurred sufficiently, that's when you'll see the price move. whether it's going to go up or down (accum or dist) is as singaporegal says: see the end of day data. more lots buy up means game not over yet, will still go up.

clearer sign is MACD. SGX is likely on uptrend for the longer term.

may be a bit of a contra trap now as well. wait and see; wouldn't expect major movement today.

 

Mani, sold at 14.7 yesterday.  Awaiting for good price to buy in

 

Hi august,

Mathematically, if the close is nearer the high of the day than the low of the day, that's called accumulation.


I use the Acc/Dist chart a lot and I don't really bother with the buy/sell behavior at certain times of the day. Too much noise. I just care about the end of day data.

 

can somebody shed some light on the way SGX behaves today ??  each time the buy bid thins out.. a whole lot of buyers come in.. and than sellers will sell at buy price..and buyers thins out again - only to be increased again - and ..  the pattern repeats frequently between $14.70 to $14.80.

Is this accumulation or distribution ? If it's distribution, why are there bulk buyers each time the buy bids volume decrease ??

Help,

 

 

Thanks for sharing, elf. Cheers.

 

hi idesa, SGX movement was in the morning; afternoon--save for one large lot transacted--the rest were small fries only. can't tell BB direction--think likely a churning (changing hands) or get prepared to short.

ok, as we speak, one large lot 250 thrown at 14.8.

deliberate lidding at $15, again at 14.9, 14.8--two single batches of 100 lots here from queue track. definite BB play.

watch 1615-1500 hrs. likely to get brought down. caveat emptor, i don't do shorts yea.

 

Hi elf, what do you see SGX. lots of selling and yet price stays as it is now.

 

Thanks elf...I sold off my holding and shorted YZJ at 2.00. Go with the wind lah. Cheers.

 

winds are changing. large lots selling. i'm just out of this. better to lock in first. dow futures red. idesa, if you're in yzj need to watch it too; churning going on. doesn't look good.  fyi caveat emptor.

 

I am indeed surprised that SGX held on well with such heavy selling.

 

 

If it breaks out at $15.40, that will be another peak. All eyes on this counter.  So tempted to short it since there was a sharp escalation for 4 consecutive days. 

 

SGX seems to me that it's topping now with weak buying and heavy selling. SGX had climed the last 3 sessions from 12.00+. Will it close at $14.00 back to Friday's closing? Regional mkt indexes not doing well, with DOW futures in red. I think there might be heavy selling in the afternoon. Watch this space. Sentiment, no too good. Vested.

 

Top gainer today, anyone has any news why?

 

SGX has bottomed out for the short term. However, volumes are still too low to say that an uptrend can be sustained.

 

Some signs of bottoming out. Acc/Dist and Chaikin are no longer downtrending.

 

SGX on Mon unveiled a new listing board modelled after London's Alternative Investment Market (AIM), aimed at attracting fast-growing Asian firms looking for speedier fund-raising. The Catalist board, which will replace the SESDAQ board on Dec 17, relies on SGX-approved "sponsors" to list and supervise companies on the bourse. It will be opened for sponsor-based IPOs from Jan '08.

"Having seen the movement of companies to AIM in London, we decided it's time to respond and set the pace in Asia," SGX CEO Hsieh Fu Hua said at a media briefing, referring to more than 100 Asian firms listed on AIM.

He said most trading interest in Asian stocks remained in Asia and that SGX has the advantage of being in the same time zone as most of the investors.

At present SGX actively screens new listing applications and directly monitors its entire stable of public companies.

With sponsors in place to relieve the workload, firms seeking a listing on the revised board will expect to start trading within 5-6 weeks from application, more than half of the 12-17 weeks needed for the old SESDAQ.

"In this turbulent, volatile world, once you make up your mind to go listed, if you take another nine months you can actually get from a bull market to a bear market," Hsieh said.

But AIM's model of depending on such nominated advisers, called "nomads", to vet IPOs has drawn criticism that the bourse is not strict enough in scrutinising its listings, or over the possibility of conflict of interest with advisers who also have stakes in the listed firms.

"There's always the possibility of those who might want to cut corners," Hsieh said. "We are overseeing the sponsors." SGX expects to announce its initial batch of sponsors by Jan '08.

The companies to be transferred from the current SESDAQ will be given at least 2 years, with the specific cut-off date to be announced later, to find a sponsor or face delisting.

 

TA charts still look bearish. No change.