Wednesday, February 17, 2010

Are we ready for post-CNY rally? Bought 20,000 HUAAN @ 0.500

Take a look at steel counters today:-
  • MASTEEL, up 6.7%
  • LSTEEL,    up 4%
  • CSCSTEL, up 5%
  • SSTEEL,    up 3.2%

CSCSTEL has released an impressive quarter report. More steel counters to follow in coming 2 weeks.

Bought 20,000 HUAAN @ 0.500 to catch the china theme and steel theme

Tuesday, February 9, 2010

Chinese New Year, a bargain hunting?

more data on fundamental improvement:

- U.S. unemployment rate falls to 9.7 percent
- Out of 314 S&P 500 companies, 74% beat analyst expectations.

OK, the giant definitely has enough fundamental data to show off that it is coming back on track.

Come back to BURSA,
The current global correction should serve as an adjustment to bring the equity markets back to the fundamental. We might not be seeing another superb run like in year 2009, but a better(slower) and brighter(economy stability) future for everyone  :=)

Unclepicks has ~45% cash. Target to accumulate again at ~1,200.

Wishing everyone a prosperous Chinese New Year.

Saturday, February 6, 2010

Scomi Marine disposed CH Offshore for S$143.5 million

Source: theedgemalaysia

Not a bad news. At least, there is no right issue.  Hope the management team spends the $$$ wisely.

Wednesday, February 3, 2010

IRIS secured RM259m Dhaka contract

IRIS has just secured another RM259 millions project in Dhaka, a JV project with Data Edge LTd and Polish Security Printing Works.

Let's see if the market sentiment is good enough for IRIS to climb above 0.20 cent tomorrow. (Bought: 0.155 on 12/2009, TP: >30% gain).

Tuesday, February 2, 2010

Shelter on a rainy day

- U.S. ISM index continues to recover, at 6 year high.
- U.S. GDP rose 5.6%, at 6 years high.
- Obama unveil $3.8 trillion budget, record breaking deficit.
- US S&P 500: 78% of companies quarterly reports so far beat analysts' profit estimates.
- South Korea's export gain (47.1%), highest in 2 decades.

The world economy has rallied too fast and furious, and we are now looking at extremely good data. We definitely need tightening, interest rate hike, etc.

But, the bear is biting on the "tightening" as a reason for correction.

With these controls, we will still see economy improving at slower rate, and definitely not collapsing. The sentiment right now is at the fear side. At such condition, the stock market might take in the "tightening" as "bad bad news" aka "worst scenario".

The Shanghai Stock Exchange has dipped 10% from year-high.
DJIA dropped 7% from year-high.

Good opportunity to buy? Unclepicks will start to collect when time is right. Stay tune. :=)