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I agree with teeth53. The counter seems to be on a sustained slight downtrend. Acc/Dist and Chaikin are heading south.
Just FYI: YZJ...and this baltic dry index. yzj tracks it since it's in shipping and this...The China Meteorological Administration said some of the worst-affected central, eastern and southern provinces faced several more days of snow and freezing rain from a cold front parked over the region since early January.
Drive YZJ crazy, but px seem to be stablizing or seem to be on a slighting slowly downward trend, next nearest stronger support level is at $1.16 ct.
Oops! Lost some concentration during typing as I was looking at SMRT price waiting to sell.
Should be US.... but who knows in a few years time?
'global recession' ??? recession is when there is negative growth. I don't see China and India or even Singapore going into recession.
China play cannot be touch during such a time whereby global recession may be looming. Will start looking into it when it hit IPO price.
this counter is sad...
Asian Stocks Fall, Led by Shipbuilders on Growth Concerns
By Chua Kong Ho
Jan. 30 (Bloomberg) -- Asian stocks fell, led by South Korean shipbuilders on concern slowing global growth and rising fuel costs will erode earnings.
Hyundai Heavy Industries Co. and Samsung Heavy Industries Co., the world's two largest shipyards, plunged after Macquarie Group Ltd. cut ratings. China Life Insurance Co. retreated after Bear Stearns & Co. said a slumping Chinese stock market will erode insurers' investment returns. Nissin Kogyo Co. an auto- parts maker affiliate of Honda Motor Co., fell a record 19 percent after reducing its profit forecast because of higher materials costs and a stronger Japanese currency.
``With the yen gaining so much against the dollar, quite a few companies will probably lower their full-year earnings forecasts,'' said Mitsushige Akino, who oversees the equivalent of $562 million in assets at Ichiyoshi Investment Management Co. in Tokyo.
The MSCI Asia Pacific Index lost 1 percent to 141.81 at 1:51 p.m. in Tokyo, reversing an earlier gain of as much as 0.8 percent.
South Korea's Kospi Index fell 3 percent, the region's biggest decline. Japan's Nikkei 225 Stock Average dropped 1.1 percent to 13,328.25. All other Asian benchmarks retreated apart from the Philippines and Thailand.
Hyundai Heavy plunged 9.7 percent to 288,500 won. Samsung Heavy slumped 7.8 percent to 26,150 won, its lowest level since April 6.
Macquarie cut ratings on South Korea's shipyards to ``underperform'' from ``outperform'' and reduced share-price estimates by as much as 70 percent.
``Banks, suffering from huge losses related to subprime mortgages, have turned more cautious in their lending policies to shipping and charter companies,'' Macquarie analyst E.S. Kwak wrote in a report dated yesterday. Shipping companies ``are likely to be less aggressive in placing new vessel orders.''
Hyundai Mipo
Daewoo Shipbuilding & Marine Engineering Co. the world's third-largest maker of ships, slipped 5.6 percent to 32,200, the lowest since March 6. Hyundai Mipo Dockyard Co., which reported a 12 percent decline in fourth-quarter profit yesterday, lost 8.4 percent to 184,500, its weakest level in more than nine months.
China Life, the nation's largest insurer, dropped 5 percent to HK$29.75. Ping An Insurance (Group) Co., the No. 2, declined 5 percent to HK$58.35.
Bear Stearns reduced its rating on China's insurers to ``market weight'' from ``overweight,'' citing lower returns from investments in China's stock market. The nation's benchmark CSI 300 Index has fallen 11 percent this year through yesterday, after rising 162 percent in 2007.
By Chua Kong Ho
Jan. 30 (Bloomberg) -- Asian stocks fell, led by South Korean shipbuilders on concern slowing global growth and rising fuel costs will erode earnings.
Hyundai Heavy Industries Co. and Samsung Heavy Industries Co., the world's two largest shipyards, plunged after Macquarie Group Ltd. cut ratings. China Life Insurance Co. retreated after Bear Stearns & Co. said a slumping Chinese stock market will erode insurers' investment returns. Nissin Kogyo Co. an auto- parts maker affiliate of Honda Motor Co., fell a record 19 percent after reducing its profit forecast because of higher materials costs and a stronger Japanese currency.
``With the yen gaining so much against the dollar, quite a few companies will probably lower their full-year earnings forecasts,'' said Mitsushige Akino, who oversees the equivalent of $562 million in assets at Ichiyoshi Investment Management Co. in Tokyo.
The MSCI Asia Pacific Index lost 1 percent to 141.81 at 1:51 p.m. in Tokyo, reversing an earlier gain of as much as 0.8 percent.
South Korea's Kospi Index fell 3 percent, the region's biggest decline. Japan's Nikkei 225 Stock Average dropped 1.1 percent to 13,328.25. All other Asian benchmarks retreated apart from the Philippines and Thailand.
Hyundai Heavy plunged 9.7 percent to 288,500 won. Samsung Heavy slumped 7.8 percent to 26,150 won, its lowest level since April 6.
Macquarie cut ratings on South Korea's shipyards to ``underperform'' from ``outperform'' and reduced share-price estimates by as much as 70 percent.
``Banks, suffering from huge losses related to subprime mortgages, have turned more cautious in their lending policies to shipping and charter companies,'' Macquarie analyst E.S. Kwak wrote in a report dated yesterday. Shipping companies ``are likely to be less aggressive in placing new vessel orders.''
Hyundai Mipo
Daewoo Shipbuilding & Marine Engineering Co. the world's third-largest maker of ships, slipped 5.6 percent to 32,200, the lowest since March 6. Hyundai Mipo Dockyard Co., which reported a 12 percent decline in fourth-quarter profit yesterday, lost 8.4 percent to 184,500, its weakest level in more than nine months.
China Life, the nation's largest insurer, dropped 5 percent to HK$29.75. Ping An Insurance (Group) Co., the No. 2, declined 5 percent to HK$58.35.
Bear Stearns reduced its rating on China's insurers to ``market weight'' from ``overweight,'' citing lower returns from investments in China's stock market. The nation's benchmark CSI 300 Index has fallen 11 percent this year through yesterday, after rising 162 percent in 2007.
Today should be testing the $1.26 support level. Hopefully it dun breach if not, the stock will plunge toward $1.16, the last support seen on 22/1/2008.
I still keep my call that this counter will go back to somewhere near its IPO price, $0.95.
Moving forward, ship building industry will be badly hit by global economic slowdown and rumoured that some ship building companies are starting to have clients cancelling their ship order le.. So even YZJ has an order book that can last till 2010, its did not factor in any potential order cancellation if any.
busy with wk, no time to explain in detail. but briefly, don't touch this counter today/short term.
Hi iTrader,
I use Acc/Dist and Chaikin charts to determine price trend. I also use Williams %R to determine buy/sell points.
For this counter, it is still oversold. I think it may be uptrending soon but will wait after the W%R rises above the 50 mark just to be double sure.
Jan 22 crash is just another chance for big boy to collect cheap cheap for all the counters...
I think the title needs to be changed to massive buy-up for YZJ...
Note that I have only extracted info from 4pm onwards regarding buy ups with purchases of at least 300000 shares; for selldowns; i've extracted those transactions of at least 150000 shares. This is to get a better feel of what the really big players are doing.
| 16:45:56 | 1.470 | 300,000 | Buy Up |
| 16:44:14 | 1.470 | 150,000 | Sell Down |
| 16:43:27 | 1.470 | 819,000 | Buy Up |
| 16:36:56 | 1.460 | 150,000 | Sell Down |
| 16:34:45 | 1.460 | 300,000 | Buy Up |
| 16:34:43 | 1.460 | 1,000,000 | Buy Up |
| 16:11:18 | 1.450 | 300,000 | Buy Up |
| 16:09:15 | 1.450 | 230,000 | Sell Down |
| 16:04:46 | 1.460 | 966,000 | Buy Up |
| 16:04:49 | 1.460 | 472,000 | Sell Down |
| 16:02:22 | 1.450 | 2,000,000 | Buy Up |
Didn't average down when prices are much lower....
good to see it close above $1.47 to have a more affirmative sign
Some say wait until June then look at equities. By then shares would have gone up a lot.
sometimes just have to take risks... cannot always wait & wait for confirmation. if you really want to be very super-sure, then should not complain of earning only 5%, instead of the 50% if enter early.
dun be a "gu niang" when buying lah...
Singaporegal, after waiting a few days to be sure, will it be too late to buy ?.In your opinion, which indicator will you use to determine if you will buy?.thanks
I see some signs of bottoming out. Acc/Dist and Chaikin are starting to reverse upwards. But wait a couple more days to be sure.
Shortists, does this affect you?!
BEIJING, Jan 23 - China has signed a memorandum of understanding with Singapore allowing approved banks to invest their clients' money in the city state's equities markets, the banking regulator said on Wednesday.
The China Banking Regulatory Commission said it is negotiating similar arrangements with Japan, Germany and the United States.
To date Chinese banks are permitted to invest their customers' money only in Hong Kong and Britain.
The CBRC permitted banks last year to start investing client funds in overseas securities as part of China's Qualified Domestic Institutional Investor programme.
China's currency regulator has so far allocated 23 banks a combined quota of $16.1 billion.
Thank you v much for such a detailed analysis. Elf
Certainly a lot to learn from you.