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Yes elf.. same sentiments.. been calling for sell too if u can see from my previous replies..
I heard rumours going round that some smaller shipbuilders are having cancellations of orders.. and recently have become more rampant.. So with the slowing of US economy resulting a slowdown in global trade. Definitely, shipping and shipbuilding industries will be badly hit.
And considering the current PE of 20X is consider very high and unattractive.. and moving forward, earning and orders should come down.. this baby is definitely overvalued.
I personally will only look at this counter when it come down to its IPO price or better.
Any potential tech rebound will be a good time to cut loss or take profit..
caveat emptor applies to all the above
two ways for this counter to go: either like gems tv, or a sudden resurgence. the latter, if happening, will not be anytime soon though. been calling sell on this baby since it was $2 plus.
take care.
Dropping another 8¢ will make this a submarine liao not ship! Take care folks!
day after day i oso sinking...tis making me paper losses almost $25k.....shitz
the SGX version of "TITANIC"... hope those vested earlier on have already unloaded b4 the sinking...
now its trading 1.07/1.08..
Yes.. those staying sideline better keep your hands off this falling knife.. it going to cut deep... Alot of massive unloading happening.. i reinterate SELL. It on the path to IPO price soon... Buyer beware!!
Buy and sell at your own risks..
big ship sinking.
1.11 liao..
super big selling on 1.12 seems like more to come.. better watch n see 1st..
fewer new ship orders due to slowing down in global trade, potential cancellation of orders fully or partially... this counter is unlikely to have that kind of capacity to cheong back to its glorious $2.
look like this counter will go back to $0.95 (IPO price) since most pre-ipo investors and anchor investors all unloaded earlier on.
not today though. believe 1.1 will hold for today. 1.13-1.16 is the 'battle zone'. depends on who wins.
a lot of operators in this counter: they don't queue, so difficult to predict exact movement. be careful of last minute closing bell swings. likely see shortists scrambling to cover there. think the market may conceivably take both shorts and longs on this counter.
looks like it might even dip to pre-IPO - 0.95cts...
fyi market depth and busd update:
sell queues too strong. shortists and genuine distribution at work. do not believe 1.14 and 1.13 will hold (1000 lots Qing to buy there). the viable support is 1.1. be careful of break below that.
ie, those intending to go long, don't buy yet. am seeing too many small buy ups.
yea i agree with elfin....don't buy yet...the sell-down is seen to be made by the BB...and they throw down in a very large manner...those who buy up are the smaller retail players...
wait for a confirmation of this counter revival then go in again...
BT February 27, 2008, 4.49 pm (Singapore time)
Top China shipyard warns of global sector downturn Email this article Print article Feedback DALIAN - China's No 1 shipyard expects rosier 2008 earnings after having secured better prices, but warned on Wednesday of slowing orders for new ships as a US economic recession threatens to crimp global trade. Dalian Shipbuilding Industry Co, the world's No 4 builder of ocean-faring vessels, is keeping a wary eye on an industry that China increasingly dominates, vice president Zhang Tao said in an interview. It hopes to ride out any downturn by focusing on serving state-backed Chinese clients and focusing more on the oil tankers and mid-sized container ships it specialises in, he added. Orders this year are unlikely to match the record Dalian Shipbuilding set in 2007, he said without disclosing its order book. And cancellations had begun to emerge, he added. Clarkson Research estimated the firm kept orders on hand for 119 vessels with a total capacity of 15.28 million deadweight tonnes (dwt) as of the end of 2007, keeping it busy till 2011. Concerns about a US slump have walloped shipbuilders' shares, including Guangzhou Shipyard, JES International and Yangzijiang Shipbuilding. The firm plays a major role in Beijing's plan to hoist China atop the global shipbuilding sector. The country won more than 40 per cent of the world's new ship orders in 2007, putting it on track to become the world's largest shipbuilding nation by 2011. Dalian Shipbuilding, the core unit of the China Shipbuilding Industry Corp, delivered 32 vessels totalling 3.1 million dwt, worth 15.26 billion yuan (US$2.13 billion), in 2007, Mr Zhang said. The shipyard, which cranks out mammoth oil tankers and container vessels, plans to deliver 36 vessels with a total of 3.19 million dwt of capacity this year. -- REUTERS
$1.1 ?
careful, don't buy yet. too many large lots selling still.
the FA count holds for this baby. Too many retail buy ups (likely to square up), but large lots still selling. Don't go in yet. 1.19 close is not a good sign.
farmer's right. if dow does a dip, you can expect this one to tank further.
count me in, i am definitely waiting eagerly for whatever cheaper and yet cheaper price...
hmm... 52 weeks lowest is at 1.16... maybe we wait at IPO price?
1.2 finally broken..
see tml will go lower anot?
Anyone still interested in this counter? N what is the target price u will enter?
It just take a negative market sentiment or falling DOW overnight to push this one below key 1.20 support level and it will continue to fall till hitting all time low.
hi singaporegal, bb tight and Acc/Dist & Chaiken charts also look bearish, the chance of it going south is high?