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Hi RichTan,
which brokerage firm you use have stop-loss and trailing stops functions ? My brokerage for s'pore trades don't have these services unlike the US brokerage which have much much more functions to use. Thanks.
richtan ( Date: 04-May-2009 11:52) Posted:
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It is useless to ask for things like recomended entry & target price.
Just remember trading rules 101: "Set stop-loss when entered a trade, cut losses short & let profits ride with trailing stops".
If u ask 7 blind men, all will give different reply, so have to look at the elephant & decides yourself, as nobody is answerable to your pockets.
TA wise, it has been going up for 3 days now, forming higher highs & higher lows & break above the 15sma.
maxcty ( Date: 04-May-2009 08:39) Posted:
| what is the recommended entry price for this counter?? 0.14 or below?
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Oops.. Correct myself. I mean since the counter had dropped in term of share price from Oct 08 instead of Oct 09.. :)
Hahaha.. Realised that richtan and myself had been a loyal fan of China Hongx.. Had been following CHHX so closely since its drop in Oct 09 till now. Sure a tough period to endure through with this counter.
Anyway, it had definitely break its $0.16 point and reach a good high of $0.19 today. Had sold all mine today to take a healthy profit since it is presently overbought. Will still come back once it reach a good low or support again. I still love this counter as the company is still fundamentally cash rich. Only problem is that it is too cash rich and not generating good profit per share. If it can manage the money it had better, I'm sure lots of people will take up this counter and keep it for future :)
CHHX finally had broke the 16 ct resistance & now charging up on extremely high volume.
Markets will soon start to realise tat not all S-chips are rotten apples & once all this corporate governance issue are resolved & enforced, soon the play will be back to those good quality S-chips. So why wait to join the rushhing crowd buying at a higher price when now is the best opportunity to bargain buy.
Remember the trading maxim: Buy low & sell high, not buy high & sell low. The risk/reward is definitely better when buy low.
richtan ( Date: 05-May-2009 12:05) Posted:
| IMO, CHHX is definitely a good buy (dyodd), it has been on an uptrend since 12 March & is now above its 15sma, 21sma, 34sma, 55sma & had formed higher highs & higher lows for 4 days (inclusive of today). Once it breaks its resistance at 16 ct, it will start shooting up. |
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IMO, CHHX is definitely a good buy (dyodd), it has been on an uptrend since 12 March & is now above its 15sma, 21sma, 34sma, 55sma & had formed higher highs & higher lows for 4 days (inclusive of today). Once it breaks its resistance at 16 ct, it will start shooting up.
It is useless to ask for things like recomended entry & target price.
Just remember trading rules 101: "Set stop-loss when entered a trade, cut losses short & let profits ride with trailing stops".
If u ask 7 blind men, all will give different reply, so have to look at the elephant & decides yourself, as nobody is answerable to your pockets.
TA wise, it has been going up for 3 days now, forming higher highs & higher lows & break above the 15sma.
maxcty ( Date: 04-May-2009 08:39) Posted:
| what is the recommended entry price for this counter?? 0.14 or below?
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What is TP for this counter? Anyone?
what is the recommended entry price for this counter?? 0.14 or below?
Read below writeup about China & Gold.
Good for S-chips like Hongxin (retail), Miidas (Aluminium train bodies) & other selective good S-chips
Great News, Plus China, Asia, Gold …
by Larry Edelson 04-30-09
Why China Is Roaring Again
In my October 9, 2008, Money and Markets column, I told you that “other than cash, gold, and a few select natural resource stocks, the only other investments I’d make in these wild and crazy times are in Chinese companies, buying them hand over fist for the long haul.” I showed you how China was the “only economy on the planet with both short- and long-term growth potential.”
That China’s retail sales were growing at their fastest pace in nine years … that disposable income was soaring …
And that despite what all the soothsayers were claiming about plunging manufacturing in China, China’s Purchasing Managers’ Index was exploding and exports were nearly 23 percent higher than the same period a year earlier.
Plus, capital investment was surging … China’s banks were some of the strongest in the world … and that the robust numbers coming out of China were not just from the urban areas, but from the rural areas as well.
I went on to tell you that China’s “Shanghai stock market reminded me of 2002, when the world was fixated on potential horror stories in China’s economy, and clueless about the reality in China.”
Bottom line, I said: It was a great time to get into my two favorite China plays: The iShares FTSE Index (FXI), which tracks China’s Shanghai stock market, and the U.S. Global Investors China Regional Opportunities Fund (USCOX).
Since I wrote that issue, USCOX has managed to eke out a modest gain, while FXI is up more than 15 percent!
Moreover, many of China’s blue-chip companies are up as much as 50 percent!
And now, it seems that others are jumping on the bandwagon. In a recent report, Goldman Sachs raised its forecast of China’s real, inflation-adjusted GDP growth to 8.3 percent for 2009 (versus 6.0 percent previously) and to 10.9 percent for 2010.
Meanwhile, the International Monetary Fund (IMF) calls China “the one bright spot in the world economy.”
More Gains Are Coming in China And the Rest of Asia.
Here’s Why …
1. Unlike U.S. and European banks, China’s banks are lending. In fact, new lending in China has surged more than 600 percent from a year ago, with March lending exceeding $277 billion.
Money supply in China is also soaring — jumping 25.5 percent in March, the fastest pace on record.
China’s first-quarter fixed-asset investment is also on a tear, jumping 28.6 percent. In March alone, the increase was 30.3 percent year-on-year.
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| The Chinese are spending like crazy! Retail sales shot up 15.2 percent for the first two months of this year. |
2. Unlike U.S. and European consumers, China’s consumers are spending. China’s retail sales for January and February jumped 15.2 percent overall, with urban sales up 14.4 percent and rural sales up 17 percent.
Total first-quarter retail sales jumped 15 percent in the urban areas and 17 percent in the rural countryside. Auto sales for March surged an amazing 27.2 percent!
Meanwhile, there are also signs that China’s property markets are picking back up. Luxury property prices are on the rise again, climbing 2.1 percent so far this year, while property transactions overall jumped nearly 60 percent over February’s pace.
Home sales in Shanghai totaled 1.5 million square meters in March — a whopping 91 percent increase over January.
3. Unlike the rest of the world, China’s (and most other Asian countries’) reserves continue to grow. Despite a slump in exports, almost all of Asia continues to see growth in their monetary reserves, with China’s piggy-bank just recently hitting $2 trillion.
Moreover, from China to Thailand … from South Korea to Indonesia — taxes are being cut virtually across the board … massive fiscal stimulus is being applied … and domestic consumption is being stoked, big time.
My view: If you acted on my suggestions and have some long positions in Chinese stocks or funds, hold! I expect further gains in Asia.
Gold News …
Did you see the news on China increasing its gold reserves by a whopping 76 percent, or 654 metric tonnes (23,069,171 ounces) since 2003?
It’s amazing to me that so many investors and analysts are surprised by this. I stated as early as 2002 that China would be drastically upping its gold reserves … that it would not tell anyone it was doing so for quite some time … and that eventually, China would come to own probably the largest gold reserves in the world.
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| China is stocking up on gold and could end up with the largest gold reserves in the world. |
And in the same October 9 issue of Money and Markets that I referenced above, I stated that “the authorities in Beijing are no dummies. They also know the U.S. dollar is in a long-term downtrend. So, they have only one choice: Bolster the country’s gold reserves while they’re investing in U.S. Treasuries.”
Seems like that’s exactly what they’ve been doing — for years. And likely will continue to do.
While I suggest you stay out of U.S. Treasury notes and bonds, my position on gold remains the same: It’s one of the best investments you will ever make.
Best wishes for your health and wealth,
Larry
oh so is this kind of decision or issue going to be positive or negative on the market's psychology? i mean on a general basis... Thanks!
no la...anyway shareholders already vote down liao for issuing new shares..
Dun understand why there is need to issue new shares when as they reported they got so much cash on hand..
iwillsurvive ( Date: 29-Apr-2009 23:24) Posted:
| could it be a upcoming rights issue?
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could it be a upcoming rights issue?
Pursuant to Rule 704(14) of the Listing Manual of the SINGAPORE
EXCHANGE SECURITIES TRADING LIMITED, CHINA HONGXING SPORTS LIMITED (the
'Company') wishes to announce that at the Annual General Meeting
('AGM') and Special General Meeting ('SGM') of the Company held on 28
April 2009, all resolutions relating to the matters set out in the
Notices of AGM and SGM were duly passed except Resolution 9 on Item 10
of the Notice of AGM dated 3 April 2009.
Resolution 9 relates to the ordinary resolution giving authority to
allot and issue new shares on a non pro-rata basis at a discount not
exceeding 20%.
anyone explain this?
anyone went to the SGM?
Hi guys! any good or bad news or updates for this counter? dropped a fair bit this week... 
CHHX chart pattern quite similar to Ausgroup, pennant (resistance sloping downward from left to right) with horizontal support with a flagpole, will probably shoot-up next week like Ausgroup.
Excellent post -- well substantiated by many good solid reasons. Keep it up!
callim22 ( Date: 22-Apr-2009 19:40) Posted:
Interestingly, this babe is getting very good support at $0.135. For the last many days where the Dow, STI, HSI were fluctuating like crazy, it manage to hold at $0.135. I believed it can hold up to the current market correction and once correction over, it will move up furthermore.
Meeting going to happen this Sunday and I believe things will get even better after it. Reason being simple: (1) Company can start to buy back share to boost shareholder interest or control short-selling. I only see this in a few stocks like what SIA had been doing previously. (2) Company's 08 results had been audited and confirmed that the company still holding lots of cash reserves to weather unforeseen circumstances. (3) China stimulus plan starts to have strong effects (4) Conversion rates of redeemed shares is higher (5) Big buyers accumulating its stock recently.... They are so many reasons that I believed that this company will do very well in the months to come and the target price will be hit easily.
Really envy those that bought it at its cheapest recently. The percentage return is real solid in the long run... :) |
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Extracted from "The Edge" Wednesday, 22 April 2009 17:03
Investors have shunned Singapore-listed Chinese firms after a series of corporate scandals, but the indiscriminate selling has thrown up some cheap gems that offer exposure to the world’s fastest-growing major economy, reported Thomson Reuters.
A lack of trust in published accounts for Chinese firms in Singapore has sent valuations of their stocks, known colloquially as S-chips, plunging to low-single-digit price-earnings multiples even for relatively sound companies that pay regular dividends. While analysts expect further accounting problems to emerge among S-chips, experienced investors are sifting the rubble for bargains.
“We have found excellent opportunities among the S-chips which gives us an opportunity to get exposure to the China market at relatively low valuations,” said Mark Mobius, lead portfolio manager for Templeton's Emerging Markets Group.
“Our private equity funds have a few investments in the S-chips,” he added.
Mobius declined to name the S-chips in his portfolio, but other fund managers and analysts cited Yanlord Land (YNLG.SI) and China Fishery Group (CNFG.SI) as being among the best among the 150-odd Singapore-listed Chinese firms.
Other recommendations include China Milk (CHNM.SI) and sporting goods maker China Hongxing (CHXS.SI), which are both trading at low-single-digit price-earnings ratios despite having little debt and a large amount of cash on their balance sheets.
Interestingly, this babe is getting very good support at $0.135. For the last many days where the Dow, STI, HSI were fluctuating like crazy, it manage to hold at $0.135. I believed it can hold up to the current market correction and once correction over, it will move up furthermore.
Meeting going to happen this Sunday and I believe things will get even better after it. Reason being simple: (1) Company can start to buy back share to boost shareholder interest or control short-selling. I only see this in a few stocks like what SIA had been doing previously. (2) Company's 08 results had been audited and confirmed that the company still holding lots of cash reserves to weather unforeseen circumstances. (3) China stimulus plan starts to have strong effects (4) Conversion rates of redeemed shares is higher (5) Big buyers accumulating its stock recently.... They are so many reasons that I believed that this company will do very well in the months to come and the target price will be hit easily.
Really envy those that bought it at its cheapest recently. The percentage return is real solid in the long run... :)
see how DOW goes tonight
