Sky Petrol FA by request.

Sky petrol request on HWZ

This counter was hit by both US downgrade (Aug 2011) and EY's resignation as auditors (Oct 2011) due to the CEO's other company in US being investigate for fraud.

Subsequently Grant Thornton was hired as auditors and gave an unqualified opinion. The Audit Committee had also done an internal review and issued a statement that the cash in China is real.

Moving on the announcement late last year.
THE PROPOSED DISPOSAL OF 49% EQUITY INTEREST OF XINGHAI AND PROFIT WARNING FOR FOURTH QUARTER

They are selling the company at a loss and Q4, YTD figures wouldn't look good with the impairment expense. Looks like they are cutting loss since the owners don't see eye to eye and business doesn't seem that profitable. Will be interesting to see what they really do with the proceeds.

Q3 results

Much lower due to currency... Also, I don't know what the $3m loss on disposal earlier in the year is (I didn't go dig). I does make me wonder if the company is overpaying for assets, not buying the right assets or if they are not taking care of their assets.

Personally I don't like to see line items like "Due to director". Is the company really short of cash to owe director money?

I haven't seen "customer relationships" being capitalised as intangible assets before... I wonder if it's an attempt to buff up the balance sheet.

This disposal mentioned earlier will hit EPS of ~3c and NTA of 4c.

The good thing is profit margin is high for rental of rigs. But the bad thing is the lowered renewed rental. If they can use the proceeds from the sales to renew their rigs to increase efficiency, that will help the prospects.

Do note they are moving out of the transportation line with the sale of the ship.

Overall... my advice is not to invest too much into this company even though EPS and NAV might be attractive. They need to increase their revenue from rental of rigs in 2013.

Jesse Livermore's Rules of Trading

In my opinion, these are some golden rules to remember 

Stock Trading Rules

• Buy rising stocks and sell falling stocks.
• Do not trade every day of every year. Trade only when the market is clearly bullish or bearish. Trade in the direction of the general market. If it's rising you should be long, if it's falling you should be short.
• Co-ordinate your trading activity with pivot points.
• Only enter a trade after the action of the market confirms your opinion and then enter promptly.
• Continue with trades that show you a profit, end trades that show a loss.
• End trades when it is clear that the trend you are profiting from is over.
• In any sector, trade the leading stock - the one showing the strongest trend.
• Never average losses by, for example, buying more of a stock that has fallen.
• Never meet a margin call - get out of the trade.
• Go long when stocks reach a new high. Sell short when they reach a new low.

Other Useful Stock Trading Guidance

• Don't become an involuntary investor by holding onto stocks whose price has fallen.
• A stock is never too high to buy and never too low to short.
• Markets are never wrong - opinions often are.
• The highest profits are made in trades that show a profit right from the start.
• No trading rules will deliver a profit 100 percent of the time.

ThBev breakout!

I bought into ThBev this morning at 46c after it broke out.
On hindsight, I was too eager to dash in... but I believe I'm trading on the right direction

The daily charts show 45c as the all time high. This morning 46c made a new all time high. Closing at 45.5c shows a clear breakout and a all time high close.

Weekly shows the same except it has hit the bollinger bands. But fear not.. I believe that's much more upside in this.

I'm trading this as I believe in Jesse Livermore's rule... "Go long when stocks reach a new high. Sell short when they reach a new low."

Ausgroup Bull flag?

As for Ausgroup...

It looks like forming a flag... breakout if close above 65.5c... potential 15c move....

Golden Agri on request from HWZ

Long time never look at GAR liao but GAR is one of those which likes to follow trendlines.
Just look at this messy chart that i kept adding on..

GAR shows support at 62c and bounced from there. However, immediate resistance is at around 64-65c.

Breaking 62c will see 60c at least.... after that... better redraw chart n see.

Weekly also shows resistance at 64c then 68c...

Not looking good for palm oil stocks based on FA as well....:s22:

Update on portfolio

Its been sometime since I updated.

I sold Midas at 52c on Tuesday as it felt like distribution was happening and I didn't like the fact it refused to close above 52.5c for longer. Today it gapped up on the contract news but got sold back to start point... looks like sell on news to me. Those vested, please take note.

I sold my China Merchant Pac at 88c last week cause I felt it was exhausted. Right now it's still pretty firm but loss some ground from 89c peak.

Interra I had previously exited at 44c before it hit 46c. 40-41c support must hold if not it's not looking good.

Dumb trades
I made some dumb trades with the profit i gather this month...
- I took a position on Yoma at 72.5c but cut at 71c when 72c support broke
- I took a position on Mermaid at 38c when it looked like will burst past long term resistance but so far failed and I threw back on contra at 37c. However, there might seem to be a buyer at 36.5c as 36c isn't tested so far.
- I still hold on to Genting which I bought at 1.47 above the double bottom breakout but need to watch closely incase it breaks the neckline
- I tried momentum trading on TT international today for the first time... and I'm stuck at 20.5c... it has huge potential if 21c is broken.. but so far, there seems to be a hidden seller :(

Passive portfolio
- I subscribed to 5lots of olam bonds to keep for the duration unless the price can be so good for me to dump away
- I bought 10 lots of K-green today at 1.055 but seems like UBS is the seller to me (eeks!) Results are next Monday with expected dvd at 4+c.. I might sell before dvd but see how general market sentiment is. *This isn't on my Reits and dvd stocks spreadsheet as I just discovered it a couple of days ago*

I will update soon if there are any interesting charts.

Interra & Midas

Interra

I bought Interra on afew occasions in Dec.
1st Trade: In 39c out 40.5c
2nd Trade: In 41c out 44c (today)

This is what I saw that prompted me to play... Will consider re-entering on pullback

Midas
I bought in at matching today @ 45c.
This is what I saw...

Both Daily and Weekly show nice inverse head and shoulders breakout. The Daily shows a gap at 52.5c to be filled. The inverse H/S target is 60c.. which happens to be former strong support turned resistance.

The Monthly also shows nice bullish divergence....

Support at 44c and approximately 40c.

STI and Reits Yield as at end of 2012

Happy New Year everyone!!

Here's the monthly update... sorry this is abit late.