HG Metal    Last:0.565   -

HG Metal a hidden gem ?

Wow, 416,000 queue to buy at 48.5c, i think this is on uptrend now!!

 

Will it reach 50c today?

 

OCBC is set to become one of HG's largest shareholders with a 4.76% stake.

 

Hot off the press!! OCBC is the largest shareholder of HG Metal by converting part of 10m loan facilities in to HG shares!! Also, HG should announce payment of 4c div soon.

 

ooh! Another of my counter moving! 2007 looks good!

 

Yeah..it is moving up..dividends and rights are going to launch soon..had sold some during the last run up..now waiting for another wave..

 

Thanks knightrider. Hope this baby goes all the way up to the IR opening....

 

This is based on the current support. After the rights support level, adjust price should be 0.389c to 0.39c.Good Luck.

 

Thank you chipchip66. Thats what I have been reading. That's why I went in that big.

 

Hi Novicetrader, have patience. This is a good fundamentally sound company with good managment who likes to reward shareholders. Hold it and you will be rewarded in the medium to long term.

 

Thanks for the input Sporeguy. Hope you are right. I guess its just the timing.

 

HG is at 4th wave. 5th wave target is at 64c.

 

100 lots at $0.38. Did some homework, directors went in in a big way at $0.36 if I am not mistaken(a couple of months back), since I could not catch the $0.36 wave went in at $0.38. Understand this counter has a lot to benefit from the housing boom and the two IRs. Also as a stockist they have a huge array of steel profiles to suit the market needs. Also, with the announcements on divident payout and the 2 for 5 offer at $0.20, seems like quite a decent deal. Its a calculated gamble. Hopefully turn out right. Any inputs would be appreciated.

 

DanielXX, may I know what are the other steel stocks in sg?

 

There're probably better steel stockist stocks around, unless you think HG Metal has some kind of competitive advantage.

 

Novicetrader...

I base my personal analysis on the most simple charting.

I would have sold earlier at 0.66 if I had this stock, and would now be rubbing my chin in mean satisfaction.

But since it has gone down that far, it is likely to rebound due to the shorts making enough on their scalping, thus are covering their positions before they re-enter. Of course I cannot be always right....  :)

 

Jackjames...

It all depend on the individual... if Chow Yoon Futt or Ivy was betting, they probably will consider 40K as just a "small kid's play".

For us little punters, of course it's a big deal.

 

100 lots? you have good money, heee... but 100 lots money in this counter, hmm.. at what price? I will put in 4 different counters if I got 40K..

 

Ipunter,

Don't frighten me, I got 100 lots at stake in there.  1 cent means $1000.If you say it is going down and down better to cut my losses unless there is something in there.

 

Today's low for this stock is 0.44.

In the coming days/weeks, I see it going lower and lower, but only in my eyes.... :)