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2581-2600 of 3100
macquarie is the other BB in on this. not sure if they going long or short tho.
basically, small fries, stay out. not worth. i'm not even in, what does that tell ya.
I heard from my broker JP Morgan and ML have been selling. Just be more careful.
cyjjerry, you're getting very good. :) yeps. it's never on whether a stock "deserves" it or not; never on fundamentals--fundamentals only dictate which stock, in the dips of a bear market, gets picked up fastest.
But in a volatile trending market like this, it's pure technicals.
Always, we need to see what is, not what we want to see.
It's tied hands. There are BBs going long, BBs going short. That's what i mean, small fries, stay out. the couple of cents you can make is not worth the rollercoaster.
fyi for those still in the dark: Citi, merril and ubs were the ones selling cosco earlier in the day. Shortists got in later, about 2.97. But consistently, even without the shortists: the long term pic is distribution.
note: citi and merril have been selling off asia the past two days. which ties in with that the foreign banks need to report their results soon; so they'll sell off asia to beef up their profitbaility report. ie, when you read the ARs of these banks later, check to take out investment returns: you'll then see how much the subprime really lost for them, and the actual state of the global banks.
i will have to agree with Elf that the MACD crossover will be in negative state today likely...technically that really isn't something pleasing to the eye
we may all noe its oversold...however those BB are darnz powerful and we can't fight them...we are bound to lose the fight
cyjjerry85 ( Date: 10-Apr-2008 12:28) Posted:
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We are know that this giant index stock does not deserve this kind of wash-down. I suspect there are some shortist captializing on the news trying hard to push the price now. U can see that everytime it clear ground upwards, someone is there to push it down.
For me this price is good entry. Shall see better uptick later after lunch.
Pls go for a good lunch and hope to celebrate this evening. I wish it close at 3.00 at least... Possible?
sigh. BBs at play, and i mean VERY big BBs. check your counterparty; it isn't just local.
small fries stay out; don't get caught in crossfire. even if it rebounds a bit later, it's a dead cat's bounce in long term prospect (3 mth): remember yzj? cosco is just starting its MACD downtrend.
never play a short up on a long down.
follow the trend. there are better counters to play.
Just to share from CIMB
Cosco Corporation (S$3.36) - The good and the bad
Won contracts worth S$402.4m; one existing contract lapsed
Cosco announced that it has won contracts worth US$292.3m (S$402.4m), comprising a
US$131.8m hull for a semi-submersible production unit and two 59,000dwt shuttle
tankers worth US$160.5m.
Semi-submersible hull priced in Rmb
Nantong yard in 2010. The contract is priced at Rmb923m with a US owner at prevailing
exchange rates on the payment date. A US$3m deposit has been received for the
project.
. The project will be carried out at Cosco?sShuttle tankers contracted by Danish owner.
101.2m euros will also be built at Nantong for delivery in Jun and Dec 2011. This is the
second contract won by Cosco, following two 10,500 dwt shuttle tankers awarded in Feb
08. The customer has agreed to pay 65% of the contract value as first instalment.
The two shuttle tankers priced atGM5000 semi-submersible rig hull lapsed.
proceeding with a US$202m contract to build a GM5000 for Norwegian owner, Red Flag
A.S, awarded in May 07. This is because a requisite deposit from the customer before
the commencement of work has not been paid. The project was originally scheduled for
delivery in 4Q09. The group has not started any work or incurred any costs. We suspect
the failure of deposit payment could be caused by the credit crunch and failure to secure
financing by the customer.
Cosco also announced that it will not beMitigation.
However, we highlight that: 1) the payment of deposits for all the other offshore projects
is on course, including a GM4000 (US$200m) for delivery in 4Q09; 2) no other contract
has been signed with Red Flag; 3) deposits for 80% of the shipbuilding contracts have
been received; and 4) this is the first incident of order cancellation.
This negative news could shake investors? confidence in the near term.Earnings estimates unchanged
unchanged, taking into account the new contracts and lapse of the GM5000. We
maintain our new-orders assumption of US$4.5bn for FY08-09 and earnings estimates.
. Our order book assumption of US$6.5bn remainsAK: Thank for the clarification. Aiyah, fox seems to be lurking everywhere in the mkt.
Just want to grab a good bargain and stay alive.
AK_Francis ( Date: 10-Apr-2008 11:45) Posted:
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Capitalization ( Date: 10-Apr-2008 12:11) Posted:
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Just have this idea. If someone rich enough to buy 3000 lots now. This will push the price from 2.87 to 3.00.
Is there such powerful person here
Normally when a stock freefall too power, sure got ppl clarifying issue to calm the investors. Now the fear is investors worry on the possible cancellation of other projects.
2.8 is another strong support, if this break then will see a very low cosco liao!
nickyng ( Date: 10-Apr-2008 11:45) Posted:
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