Midas    Last:0.192   -

Midas

Just my sharing with all forumers, particularly to newbies.

Read today's Sunday Times,"Invest, pg 23", I quote in red:

"Watch Out for Scammers"

Point no. 3:

3. Pump and Dump scams.

These are typical conducted via an unsolicited phone call or e-mail. The scammer, who holds a stock, attempts to boost its price via false and misleading recommendations (the "pump") which are e-mailed to many people. The stock is often promoted as a "hot tip". Once there is a surge of interest from victims, the scammers sell the stock (the dump").

The victims lose their investments as the stock price falls. Such scams usually target thinly traded or small-cap stocks as they are easy to manipulate and it does not take  many new buyers to push up the prices. To avoid being taken in, it is best not to rely on information you receive via an unsolicited source.

My comments:

(1) This is true not only via unsolicited phone call and e-mail but also in public forums, so be wary of wat u read and dyodd.

(2) It is also true tat scammers usually target thinly traded or small-cap stocks, but it is still okay to trade small-cap stocks if u dyodd using FA and TA. Knowing tat the stock has good fundamentals is not good enuf as u may get caught buying at a high price by the "pump" which is primed for corrections (the dump"), thus the importance of  TA to know whether it had been pumped up (avoid buying and being caught) and instead wait for buying opportunities (during the correction) by studying the candlesticks and other indicators for reversal patterns.

 

Hi dealer0168,

Many thanks for your good rating, I sincerely appreciate it.

Sorry tat u misinterpret my post, I m sure u are a rational person, so definitely u wont do such friviously, ridiculous , senseless lunatic thing, only those with unsound , lunatic mind would rate almost every of my post indiscriminately  as bad, as if to release his/her frustration on me.

This is a blatant abuse of the rating system n make a mockery of the system n of him/her.

It is fine with me, if by doing so, can help him/her release his/her frustration, I m more than willing to be his/her punching bag or baton to knock my head.

dealer0168      ( Date: 03-Jul-2009 12:58) Posted: RichTan, i haven't even rate u. I thk someone give that bad rating......... Ooo u cannot assume, must confirm first. But really thks for yr info. Give u a good rating. Sorry jus now doing something, forget to give u rating. richtan      ( Date: 03-Jul-2009 12:41) Posted: Hi dealer0168,   It never fails to amuse me tat even my reply to u get a "bad" rating,  obviously a blatant abuse of the rating system

 

RichTan, i haven't even rate u. I thk someone give that bad rating.........

Ooo u cannot assume, must confirm first.

But really thks for yr info. Give u a good rating. Sorry jus now doing something, forget to give u rating.

richtan      ( Date: 03-Jul-2009 12:41) Posted: Hi dealer0168,   It never fails to amuse me tat even my reply to u get a "bad" rating,  obviously a blatant abuse of the rating system richtan      ( Date: 03-Jul-2009 12:09) Posted: Hi dealer0168, basically, there is nothing to worry about Midas, as it is a solid coy with strong FA. Good to buy on dips. See my posting later from Westcomb, it mentions: "The management has said that capital expenditure needs will be funded using a blend of internal funds and bank loans."

 

 Hahaha... The prata man got no biz, to free beating the flies n again give me another bad rating.

I enjoy seeing him/her unrelentlessly giving me bad ratings to almost all my postings.

iPunter is right, maybe admin should consider removing this "bad" rating system as it is so subjected to abuse but maybe keep the "good" rating system to reward forumers tat make good inforrmative postings, as nobody would rate a bad posting as good, tats for sure.

Posted: 02-Jul-2009 22:01       Contact richtan          *  Quote this Post!
x 0 x 1 * Alert Admin	Wow!!! ozone2002, u are simply extremely imaginative, U make my day by making my laugh at your good jokes, lucky I never eat his prata, otherwise he/she make put melamine n poison me to death. ozone2002      ( Date: 02-Jul-2009 10:04) Posted: maybe the roti prata man gave u a bad post.. after we exposed his deceptive ploy in ripping off innocent roti prata lovers..

 

Hi dealer0168,

  It never fails to amuse me tat even my reply to u get a "bad" rating,  obviously a blatant abuse of the rating system

richtan      ( Date: 03-Jul-2009 12:09) Posted: Hi dealer0168, basically, there is nothing to worry about Midas, as it is a solid coy with strong FA. Good to buy on dips. See my posting later from Westcomb, it mentions: "The management has said that capital expenditure needs will be funded using a blend of internal funds and bank loans." dealer0168      ( Date: 02-Jul-2009 22:06) Posted: No problem RichTan, busy with yr things first. Emm, Midas is a quite good company as well n recently got lots of business. If really can drop to 0.60 level, its really worthwhile to vest at it. Again thanks Rich Tan,  i will check up more n decide when to go in fr this one.

 

Thanks RichTan for the information.............

 

richtan      ( Date: 03-Jul-2009 12:17) Posted: From Westcomb: Midas Midas bags contracts worth 73.8m yuan News: MIDAS Holdings has clinched its first two downstream fabrication contracts worth 73.8 million yuan (S$15.6 million), as part of its bid to become a one-stop service supplier to China's transportation industry. The latest contracts brought to 918.8 million yuan (S$184 million) the orders that the group has announced over two weeks. Midas' order book before these 918.8 million yuan of deals stood at S$120 million. Based on this, BT estimates that its total order book now stands at some S$300 million. The contracts secured are in line with the revenue guidance of between S$200 million and S$300 million worth of new contracts that were being pursued by the company's management. The group, which manufactures aluminium alloy extrusion products primarily for the Chinese rail transportation sector, has been benefiting from the Chinese government's fiscal stimulus package and the infrastructural development projects in the mainland. The latest two contracts were awarded by CNR Tangshan Railway Vehicles Co Ltd and comprised 23 million yuan for aluminium alloy extrusion profiles and 50.8 million yuan for fabrication processing fees.   The first contract - worth 43.8 million yuan - involves the supply of 12 types of specialised stretch band, roll bend and press bend fabricated aluminium alloy extrusion profiles for 1,280 train car bodies.   The second contract - valued at 30 million yuan - involves the production of specialised stretch bend, roll bend and press bend fabricated curved surface profiles for 100 units of driver's cabins. Commenting on the new contracts, Patrick Chew, CEO of Midas, said: 'These two contracts represent another key milestone for our group as they mark our successful foray into the business of downstream fabrication. Our foray into downstream fabrication marks the beginning of our long-term strategy to become an integrated manufacturer and one-stop service supplier to the rail transportation industry.' A company spokesman has said that the majority of the contracts will be completed between 2009 and 2011. Thus, the contracts will have a positive impact on the earnings for financial years 2009 to 2011.   Over the past four weeks, the Bloomberg consensus analyst estimates for 2009 earnings per share have been revised upwards by 0.1 cents to 4.4 cents. The EPS for 2008 was 3.87 cents.   The series of new contracts secured have led some analysts to raise the possibility of a fourth production line. Currently, the company has two production lines and have invested in a third one which will only be ready in 2010.   The management has said that capital expenditure needs will be funded using a blend of internal funds and bank loans. Source: Business Times

 

    Plse, plse, plse, plse  help me to short it down so I can accumulate more.

Thanks a lot

178investors      ( Date: 03-Jul-2009 10:34) Posted: agree the party gonna over soon.. will it be today? time to use our short guns ...bang, bang, bang.. make money again.

 

From Westcomb:

Midas Midas bags contracts worth 73.8m yuan

News:


MIDAS Holdings has clinched its first two downstream fabrication contracts worth 73.8 million yuan

(S$15.6 million), as part of its bid to become a one-stop service supplier to China's transportation industry.


The latest contracts brought to 918.8 million yuan (S$184 million) the orders that the group has announced

over two weeks.


Midas' order book before these 918.8 million yuan of deals stood at S$120 million. Based on this, BT
estimates that its total order book now stands at some S$300 million.


The contracts secured are in line with the revenue guidance of between S$200 million and S$300 million worth
of new contracts that were being pursued by the company's management.


The group, which manufactures aluminium alloy extrusion products primarily for the Chinese rail
transportation sector, has been benefiting from the Chinese government's fiscal stimulus package and the
infrastructural development projects in the mainland.


The latest two contracts were awarded by CNR Tangshan Railway Vehicles Co Ltd and comprised 23
million yuan for aluminium alloy extrusion profiles and 50.8 million yuan for fabrication processing fees.

 
The first contract - worth 43.8 million yuan - involves the supply of 12 types of specialised stretch band, roll
bend and press bend fabricated aluminium alloy extrusion profiles for 1,280 train car bodies.

 
The second contract - valued at 30 million yuan - involves the production of specialised stretch bend, roll
bend and press bend fabricated curved surface profiles for 100 units of driver's cabins.


Commenting on the new contracts, Patrick Chew, CEO of Midas, said: 'These two contracts represent
another key milestone for our group as they mark our successful foray into the business of downstream
fabrication. Our foray into downstream fabrication marks the beginning of our long-term strategy to become
an integrated manufacturer and one-stop service supplier to the rail transportation industry.'


A company spokesman has said that the majority of the contracts will be completed between 2009 and
2011. Thus, the contracts will have a positive impact on the earnings for financial years 2009 to 2011.

 
Over the past four weeks, the Bloomberg consensus analyst estimates for 2009 earnings per share have
been revised upwards by 0.1 cents to 4.4 cents. The EPS for 2008 was 3.87 cents.

 
The series of new contracts secured have led some analysts to raise the possibility of a fourth production
line. Currently, the company has two production lines and have invested in a third one which will only be
ready in 2010.

 
The management has said that capital expenditure needs will be funded using a blend of internal funds and
bank loans.

Source: Business Times

 

Hi dealer0168,

basically, there is nothing to worry about Midas, as it is a solid coy with strong FA.

Good to buy on dips.

See my posting later from Westcomb, it mentions:

"The management has said that capital expenditure needs will be funded using a blend of internal funds and bank loans."

dealer0168      ( Date: 02-Jul-2009 22:06) Posted: No problem RichTan, busy with yr things first. Emm, Midas is a quite good company as well n recently got lots of business. If really can drop to 0.60 level, its really worthwhile to vest at it. Again thanks Rich Tan,  i will check up more n decide when to go in fr this one.   richtan      ( Date: 02-Jul-2009 21:54) Posted: Hi dealer0168, I m sorry, too pre-occupied, so not doing any chart posting today, basically today is a down candle, support at the 15ema followed by 25ema n 65ema n possibly even 0.60

 

agree the party gonna over soon.. will it be today?

time to use our short guns ...bang, bang, bang.. make money again.

 

 

don't want to spoil the MIDAS contract win party..

but`indicators are pointing to a correction in price..MACD histogram trending down..likely to go below zero (sell call)
stochastic pointing down from overbought levels..

not a good time to enter to buy if ya a short term trader like me..

also, wish to point out that if u look at the down bars were on higher vol than the vol on the up bars for the past few days..

shows that the bulls have no power over the bears..

just my view DYODD

 

No problem RichTan, busy with yr things first.

Emm, Midas is a quite good company as well n recently got lots of business.

If really can drop to 0.60 level, its really worthwhile to vest at it.

Again thanks Rich Tan,  i will check up more n decide when to go in fr this one.

 

richtan      ( Date: 02-Jul-2009 21:54) Posted: Hi dealer0168, I m sorry, too pre-occupied, so not doing any chart posting today, basically today is a down candle, support at the 15ema followed by 25ema n 65ema n possibly even 0.60 dealer0168      ( Date: 02-Jul-2009 18:35) Posted: Yup, RichTan for Midas, what is the support resistance level B4 0.835 support level u metioned below. Emm Like to see when to enter, actually quite interested in Midas as well.

 

Wow!!! ozone2002, u are simply extremely imaginative,

U make my day by making my laugh at your good jokes, lucky I never eat his prata, otherwise he/she make put melamine n poison me to death.

ozone2002      ( Date: 02-Jul-2009 10:04) Posted: maybe the roti prata man gave u a bad post.. after we exposed his deceptive ploy in ripping off innocent roti prata lovers..

 

Hi dealer0168,

I m sorry, too pre-occupied, so not doing any chart posting today,

basically today is a down candle, support at the 15ema followed by 25ema n 65ema n possibly even 0.60

dealer0168      ( Date: 02-Jul-2009 18:35) Posted: Yup, RichTan for Midas, what is the support resistance level B4 0.835 support level u metioned below. Emm Like to see when to enter, actually quite interested in Midas as well. richtan      ( Date: 02-Jul-2009 09:46) Posted: Congrats to those having n holding onto Midas.  If Midas break through the high of 83.5 (resistance) on 30/6,  83.5 would possibly turned into a support n next resistance at 84.5 (close on 10/3/2008) which will ultimately be broken in due time even though it might pose as short-term resistance. Once nroken, next resistance at 1.13 (17/8/2007).

 

 

Yup, RichTan for Midas, what is the support resistance level B4 0.835 support level u metioned below. Emm Like to see when to enter, actually quite interested in Midas as well.

richtan      ( Date: 02-Jul-2009 09:46) Posted: Congrats to those having n holding onto Midas.  If Midas break through the high of 83.5 (resistance) on 30/6,  83.5 would possibly turned into a support n next resistance at 84.5 (close on 10/3/2008) which will ultimately be broken in due time even though it might pose as short-term resistance. Once nroken, next resistance at 1.13 (17/8/2007). richtan      ( Date: 01-Jul-2009 22:47) Posted: Hi maseratiq, If u had diligently follow n read this thread, u sholud have noticed tat I had made a posting quoting some broking houses mentioning tat Midas had more contracts coming. U must look at the whole mkt in perspective, given tat the whole mkt had been correcting for the last 2 weeks, this is considered already exceptionally good for Midas. See my chart commentaries:

 

congrats. pika pika

daphnecsf      ( Date: 02-Jul-2009 15:18) Posted: :) Highlight from DBS research on 1 Jul'09.. "...This could lead to both revenue and margin expansion, as downstream fabrication typically has higher margins. Currently, we have not factored in any contributions from its downstreamfabrication business..." I think DBS is going to revalue a higher TP soon..say..$1.08..

 

You have the right attitude of a great investor/trader, i.e., blame no ones but ourselves for bad trades.

maseratiq      ( Date: 02-Jul-2009 10:01) Posted: Shortist did it, I'd guess. Don't worry about it too much la...shortist are actually good for the system. Without them, who to cover short and raise back the price when longist buy on dips? I've never shorted and probably never will. However, I will see it as part and parcel of the whole system.

 

:)

Highlight from DBS research on 1 Jul'09..

"...This could lead to both revenue and margin expansion, as downstream fabrication typically has higher margins. Currently, we have not factored in any contributions from its downstreamfabrication business..."

I think DBS is going to revalue a higher TP soon..say..$1.08..

 

I  have suggested earlier to remove this rating facility, as it is meaningless or of dubious benefit...

I mean (for admin),why create problems for yourself when there are none? ...


And sometimes, forummers could have easily clicked on the wrong post too...