Genting Sing    Last:0.73    -0.005

GenSp starts to move up again

LoL no, I am also learning like everybody else, but I just happen to be very passionate about trading, because in my opinion it is a very interesting business. I agree that trading is highly risky, and there is a possibility for loss every single time we enter a trade. However if we have put in our stop loss, done our research and analysis on a company's performance, monitor the market consistently, then we have done our part to cut down our risks.

In my definition, having done all that, we should not consider trading as gambling, but as having invested and owned part of a profitable company. As a profitable company grows, naturally a share price will also grow. 

People who gamble are folks who just trade base on rumour or base on a friend's recommendation without doing one's due diligence. 

Just my 2 cents. Cheers   

iknownothing      ( Date: 24-Oct-2010 11:24) Posted: nono i not sifus...i just add something that base on my past experience..the whole contribution is from Bullish Tempo..<--- the real Sifu! Cheers!

 

nono i not sifus...i just add something that base on my past experience..the whole contribution is from Bullish Tempo..<--- the real Sifu! Cheers!

 

looks like recent sales of GSp shares by independent director & ceo were just red herrings!

 

Though their comments may appear contradicting,

    in my view, both Sifu's (iknownothing & Bullish Tempo) views are true and equally insightful.

        If newbies can understand and live the wisdom, they will benefit muchly. 

iknownothing      ( Date: 24-Oct-2010 00:15) Posted: haha trading same as gambling just that higher probability of winning..depends how individual differential.. Cheers! BullishTempo      ( Date: 23-Oct-2010 20:13) Posted: Stock investment has nothing to do with gambling, but everything to do with knowledge, skills and experience. I am not sure what you mean by saying you are a passive stock gambler, so I won't comment more. All the best

 

haha trading same as gambling just that higher probability of winning..depends how individual differential..

Cheers!

BullishTempo      ( Date: 23-Oct-2010 20:13) Posted: Stock investment has nothing to do with gambling, but everything to do with knowledge, skills and experience. I am not sure what you mean by saying you are a passive stock gambler, so I won't comment more. All the best  iknownothing      ( Date: 23-Oct-2010 19:44) Posted: BullishTempo, yar i agree with you..haha i am also a passive stock gambler too thats why i also go for courses! hope those ignorant people will learn n save their hand after reading your post. Cheers!

 

Good Analytical Skill !

lowchia      ( Date: 23-Oct-2010 22:51) Posted: On Friday, Genting SP continues to trend sideway and closed at $2.22 with LOW volume of 67 million shares traded. A spinning top occurred (a spinning top is a candle with a small real body).  Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close).  During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble. Both RSI & MACD are bullish though RSI near to “overbought” region. Important Resistance of Genting SP: $2.27 Immediate Support of Genting SP: $2.12 Currently prices are well above 20/50/100/200 days MA Genting SP has been remarkable lately as they gain close to 100% within 3 months The next resistance they need to break in order to go higher is “all time high resistance” at $2.27. However we would expect $2.27 to be a very strong resistance as well and likely required high volume to break through this resistance. SEE ANALYSIS FOR COSCO Investors who are interested can monitor to see if Genting SP can breakout of the resistance in next week.

 

On Friday, Genting SP continues to trend sideway and closed at $2.22 with LOW volume of 67 million shares traded.

A spinning top occurred (a spinning top is a candle with a small real body).  Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close).  During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Both RSI & MACD are bullish though RSI near to “overbought” region.

Important Resistance of Genting SP: $2.27

Immediate Support of Genting SP: $2.12

Currently prices are well above 20/50/100/200 days MA

Genting SP has been remarkable lately as they gain close to 100% within 3 months

The next resistance they need to break in order to go higher is “all time high resistance” at $2.27.

However we would expect $2.27 to be a very strong resistance as well and likely required high volume to break through this resistance.

SEE ANALYSIS FOR COSCO


Investors who are interested can monitor to see if Genting SP can breakout of the resistance in next week.

 

 

Oct. 22, 2010, 3:27 a.m. EDT·CORRECTED

Currency war tops Asian agenda for G-20

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By Chris Oliver, MarketWatch

A previous version of this report incorrectly named the site of the finance officials’ meeting. It has been corrected.

HONG KONG (MarketWatch) — Asian finance ministers and central bankers will use this weekend’s meeting of the Group of 20 major economies to communicate the hardships they face from surging capital inflows and appreciating currencies.

Concerns are mounting that if left unchecked, current trends are creating a bubble that could suddenly burst in replay of the 1997 Asian financial crisis that ended a boom-time for the region.

“We have a situation right now where pretty much every major emerging-market economy is being subjected to a wall of money emanating from the U.S.,” said Cantor Fitzgerald economist Uwe Parpart in Hong Kong.

“The assumption that all of this money is genuine investment money is clearly mistaken — a great deal of it is purely speculative,” he said.

The G-20 finance ministers and central bank officials will gather in Gyeongju, South Korea, from Friday for a weekend meeting, followed by a two-day meeting of the G-20 heads of state in November. Asian members of the bloc include China, Japan, India, South Korea, Indonesia and Australia.

 

Reuters

South Koreans stage a rally to celebrate Seoul’s hosting of this year’s meetings of the Group of 20 major economies.

 

“There is every good reason for Asia financial officials to take the opportunity of these upcoming forums to tell the U.S. this is not acceptable, you are pursing a one-sided monetary policy that is in your own best interest,” Parpart said.

Parpart said emerging markets in Asia, much the same as their developing peers in other regions of the world, have been inundated by “highly destabilizing” inflows of surplus dollars, mainly as a result of ultra-easy U.S. monetary policy.

“I don’t think it’s a new Plaza Accord type of deal that’s called for. I think what’s called for is for the U.S. to show some awareness and some willingness of what to do with these footloose dollars that it’s printing and washing ashore in Asia,” Parpart said. The Plaza Accord was a 1985 agreement to allow the U.S. dollar to depreciate. See column on current parallels with Plaza Accord.

However, Action Economics economist David Cohen said working out a compromise on Asian currencies’ rise against the dollar will likely be a goal for the G-20 meeting, especially in terms of the Chinese yuan.

“Part of the issue is that the Chinese currency is seen as undervalued, and as long as it’s undervalued, all other emerging-market economies can’t afford to lose competitiveness to the Chinese,” he said.

Dollar’s fall could be good thing

Should the U.S. dollar take one for the home team? Ben Bernanke and Tim Geithner might want the U.S. currency to fall.

Cohen said that the onus is shifting to China to accept currency appreciation, much as Japan had accepted appreciation as a result of the Plaza Accord.

“The question is whether Asians will feel confident enough,” he said.

A U.S. Treasury official said Wednesday that Washington would in fact press Beijing at the G-20 meetings to allow a greater rise in the yuan’s value. See report on Treasury official’s comments on G-20 agenda.

The dangers for Asian economies from rapid currency appreciation have been in the spotlight recently. The World Bank said in a report Tuesday that East Asian economies run the risk of renewed equity and real-estate bubbles, as asset prices that recovered from losses during the financial crisis look set to march higher.

Larger inflows combined with ample domestic liquidity and rising confidence have boosted stock markets, real-estate prices and other asset valuations in some countries, precipitating fears of a new bubble, the global lender said. 

Several export-dependent Asian economies have already responded to the environment of inflows by setting up tighter capital controls.

Among them, Thailand earlier this month imposed a 15% withholding tax on foreign investors’ profits from trading in government-related bonds. Recent data showed a huge jump in foreign-fund purchases of its sovereign debt to $4.96 billion in the third quarter, up from $724 million in the second quarter.

South Korean officials are also reportedly considering a similar measure. Indonesia and Taiwan have likewise enacted measures in the last year to control inflows of foreign funds. 

Chris Oliver is MarketWatch's Asia bureau chief, based in Hong Kong.

 

Stock investment has nothing to do with gambling, but everything to do with knowledge, skills and experience. I am not sure what you mean by saying you are a passive stock gambler, so I won't comment more. All the best 

iknownothing      ( Date: 23-Oct-2010 19:44) Posted: BullishTempo, yar i agree with you..haha i am also a passive stock gambler too thats why i also go for courses! hope those ignorant people will learn n save their hand after reading your post. Cheers!

 

BullishTempo, yar i agree with you..haha i am also a passive stock gambler too thats why i also go for courses! hope those ignorant people will learn n save their hand after reading your post.

Cheers!

 

After I lost about 80% of my capital about 8 months ago, I stopped trading, invested $20,000 to attend a series of trading courses before coming back to the market. So yes, I agree learning trading skills is necessary. Why? Because you need to know what the pro traders are doing out there, and as retail investors we cannot trade against them as that would simply be suicidal.

We need to know what they know, the tools they use, technical charting analysis, the news channels they use, the trading psychology methodologies (greed, fear) they use. How do the BBs make retail investors dump stocks so they can buy and consolidate cheaper? And of course understand that manipulations are rampant in the market. The more you know the more you will trade like them, and not against them. Usually one course will not cover so much, which is why I had to attend several until I was satisfied enough was learnt.

Once you know enough to stop trading against the BBs, you will naturally make less losses. Even though you know it is virtual money it still helps a lot. Aircraft pilots have to go through hundreds of hours of simulation training using their virtual flying cockpits that look a lot like video/computer games. Does it help to them fly a real aircraft next time? It certainly does.

Is it necessary for everyone to attend courses? For traders probably, less so for long term investors. I knew I was more of a trader than a long term investor, so I had to invest more in my education.

So the first question for you is, What kind of investor are you? And then you will know what the next step is.

Hope that helps  

iknownothing      ( Date: 23-Oct-2010 18:57) Posted: BullishTempo, it was really a good post from u, but there is 1 thing that i wanna share as a beginner, also must go for courses and buy/borrow books to read + paper trading will be effective. if just paper trading, when it comes to actual trading the feelin is definately different, fear/greed all will starts to appear and it will bring u down terribly. paying more than 1k for a course or buy of books is better than paying 1k to the market and learning abit/nothing.. referring to red field; because some people never learn and kept getting burn and by learning abit will still lose out to those pros out there. my point of view base on my personal experience, anything abv correct me if i am wrong. Cheers! BullishTempo      ( Date: 23-Oct-2010 10:07) Posted: typo error, i meant :  just be sincere about helping other needy people and be grateful that you are the one giving money away, and not the one who needs that money.

 

BullishTempo, it was really a good post from u, but there is 1 thing that i wanna share as a beginner, also must go for courses and buy/borrow books to read + paper trading will be effective. if just paper trading, when it comes to actual trading the feelin is definately different, fear/greed all will starts to appear and it will bring u down terribly. paying more than 1k for a course or buy of books is better than paying 1k to the market and learning abit/nothing..

referring to red field; because some people never learn and kept getting burn and by learning abit will still lose out to those pros out there.

my point of view base on my personal experience, anything abv correct me if i am wrong.

Cheers!

BullishTempo      ( Date: 23-Oct-2010 10:07) Posted: typo error, i meant :  just be sincere about helping other needy people and be grateful that you are the one giving money away, and not the one who needs that money. BullishTempo      ( Date: 23-Oct-2010 09:55) Posted: I have said this before and I will say this again. Contra and margin are not advised for amateurs and beginners. I got burnt badly at the beginning because I didn't know what I was doing with my margin account and was very lucky to have survived that period. I know some folks who weren't so lucky and never recovered from their losses, as a result their families and children were badly affected. Lesson learnt? As a beginner, start with a cash account, or better yet, start with a paper money account. Trade the paper money account for at least 3 to 6 months, get the necessary experience, before using real money to trade. Another lesson here, for those who are familiar with law of attraction. Be grateful and happy with the money you make. Share that money with family, your relatives who are in need, your friends who might need the money for hospital bills. Start donating about 5% to 10% of your monthly profits to charitable organizations. What you give out to the universe will come back to you many folds. But when you do it, don't think about making more money, just be sincere about helping other needy people and be grateful and you are the one giving money away, and not the one who needs that money. This is one of the secrets of many successful entrepreneurs. Just look at Bill Gates and Warren Buffett. Will share more next time. Cheers.

 

since when? only a few cents

bofbof      ( Date: 23-Oct-2010 14:27) Posted: BT, but any idea why the price dropped 27cents yday?

 

BT, but any idea why the price dropped 27cents yday?

 

Excellent advise to those starting out and the experienced ones also.

Looking forward to success. Cheers.

BullishTempo      ( Date: 23-Oct-2010 09:55) Posted: I have said this before and I will say this again. Contra and margin are not advised for amateurs and beginners. I got burnt badly at the beginning because I didn't know what I was doing with my margin account and was very lucky to have survived that period. I know some folks who weren't so lucky and never recovered from their losses, as a result their families and children were badly affected. Lesson learnt? As a beginner, start with a cash account, or better yet, start with a paper money account. Trade the paper money account for at least 3 to 6 months, get the necessary experience, before using real money to trade. Another lesson here, for those who are familiar with law of attraction. Be grateful and happy with the money you make. Share that money with family, your relatives who are in need, your friends who might need the money for hospital bills. Start donating about 5% to 10% of your monthly profits to charitable organizations. What you give out to the universe will come back to you many folds. But when you do it, don't think about making more money, just be sincere about helping other needy people and be grateful and you are the one giving money away, and not the one who needs that money. This is one of the secrets of many successful entrepreneurs. Just look at Bill Gates and Warren Buffett. Will share more next time. Cheers.

 

Good post ! Especially the 3rd paragraph.

BullishTempo      ( Date: 23-Oct-2010 09:55) Posted: I have said this before and I will say this again. Contra and margin are not advised for amateurs and beginners. I got burnt badly at the beginning because I didn't know what I was doing with my margin account and was very lucky to have survived that period. I know some folks who weren't so lucky and never recovered from their losses, as a result their families and children were badly affected. Lesson learnt? As a beginner, start with a cash account, or better yet, start with a paper money account. Trade the paper money account for at least 3 to 6 months, get the necessary experience, before using real money to trade. Another lesson here, for those who are familiar with law of attraction. Be grateful and happy with the money you make. Share that money with family, your relatives who are in need, your friends who might need the money for hospital bills. Start donating about 5% to 10% of your monthly profits to charitable organizations. What you give out to the universe will come back to you many folds. But when you do it, don't think about making more money, just be sincere about helping other needy people and be grateful and you are the one giving money away, and not the one who needs that money. This is one of the secrets of many successful entrepreneurs. Just look at Bill Gates and Warren Buffett. Will share more next time. Cheers.

 

I received some queries about whether the recent breakout pattern for GSP is ascending triangle, bullish flag or something else. I went to dig deeper and found that even though they are similar, to be more precise it should be Bullish Pennant breakout pattern. 

Ascending triangle pattern should have a flat peak price trend line, but GSP doesn't. Bullish flag should have parallel price trend lines but GSP doesn't. So it should be Bullish Pennant breakout pattern.

Bullish Pennant :  http://www.trending123.com/patterns/bullish_pennant.html

Bullish Flag : http://www.trending123.com/patterns/bull_flag.html

Ascending triangle :  

http://stockcharts.com/help/doku.php?id=chart_school:chart_analysis:chart_patterns:ascending_triangle_c

 

typo error, i meant :

 just be sincere about helping other needy people and be grateful that you are the one giving money away, and not the one who needs that money.

BullishTempo      ( Date: 23-Oct-2010 09:55) Posted: I have said this before and I will say this again. Contra and margin are not advised for amateurs and beginners. I got burnt badly at the beginning because I didn't know what I was doing with my margin account and was very lucky to have survived that period. I know some folks who weren't so lucky and never recovered from their losses, as a result their families and children were badly affected. Lesson learnt? As a beginner, start with a cash account, or better yet, start with a paper money account. Trade the paper money account for at least 3 to 6 months, get the necessary experience, before using real money to trade. Another lesson here, for those who are familiar with law of attraction. Be grateful and happy with the money you make. Share that money with family, your relatives who are in need, your friends who might need the money for hospital bills. Start donating about 5% to 10% of your monthly profits to charitable organizations. What you give out to the universe will come back to you many folds. But when you do it, don't think about making more money, just be sincere about helping other needy people and be grateful and you are the one giving money away, and not the one who needs that money. This is one of the secrets of many successful entrepreneurs. Just look at Bill Gates and Warren Buffett. Will share more next time. Cheers.

 

Break above 2.18 resistance is a bullish signal, my next fibonanci target is showing 2.37 or 2.38 followed by a short correction. After that the next fibo target is 2.49 or 2.50. 

Noob79      ( Date: 22-Oct-2010 21:44) Posted: Wow i just read the edge newspaper...it support at 2.18 and a break of it shall has a target objective of 2.51. Now is still intact...will see how first and react.     Has a great weekend :) BullishTempo      ( Date: 22-Oct-2010 17:23) Posted: $2.38 should be reachable on the day of results announcement. All depends on how good the GSP results are on 12th Nov. I didn't invest all my capital at 2.21, since now STI still in correction phase, so still keeping half in cash for safety. Ok, see you guys after the weekend. Have a good one !!!

 

Positive impact for SGX. A merger like this will make SGX the 2nd biggest exchange in Asia after Hong Kong. SGX has currently suspended its trading pending the result of this merger. I expect a 10% to 20% rise in SGX after merger talks are confirmed and trading is resumed.

bofbof      ( Date: 22-Oct-2010 23:08) Posted: BT what's your take for the acquisition of ASX by SGX?  impact on SGX share?