View Poll Results: SGX plunge today, would you buy/hold/sell/avoid

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  • Buy

    18 26.09%
  • Sell

    5 7.25%
  • Hold

    27 39.13%
  • Avoid

    19 27.54%
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Thread: SGX plunge today, would you buy/hold/sell

  1. #281
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    Default Re: SGX plunge today, would you buy/hold/sell

    made some profits again ! this weekend food and transport all covered..

    Canonised, have u sold your Cosco ? i took profits from Cosco liao..
    Last edited by raincool2005; 28th March 2008 at 02:20 PM.

  2. #282
    vince123123
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    Default Re: SGX plunge today, would you buy/hold/sell

    Then some purposely give wrong predictions so you do the opposite!

    Well it only goes to show that predictions are highly unreliable. There are many who say that these predictions are just attempts by traders to hype and herd the market to go where they want

    Or either way, get pple to trade so they earn $$ from commissions.

    Quote Originally Posted by amateur_photographer View Post
    if there's such pattern, always do the opposite of the "predictions"
    So it will become, more often than not, end up correct

    All these predictions just remind me of a saying, that rain dance always works. Because they never stop dancing till the rain really drops.

  3. #283

    Default Re: SGX plunge today, would you buy/hold/sell

    Another round of write offs in the pipeline.

    Bear bear is here to stay.

  4. #284
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    Default Re: SGX plunge today, would you buy/hold/sell

    Quote Originally Posted by Parchiao View Post
    Another round of write offs in the pipeline.

    Bear bear is here to stay.
    The Greenback rebound is short-term, with the banks in trouble.. industry giants will find hard to borrow to finance their operations and expansions..

    so far HSBC is the stronger bank due to a established network in China.... American ones difficult liao..
    Last edited by raincool2005; 29th March 2008 at 12:45 AM.

  5. #285

    Default Re: SGX plunge today, would you buy/hold/sell

    Quote Originally Posted by raincool2005 View Post
    made some profits again ! this weekend food and transport all covered..

    Canonised, have u sold your Cosco ? i took profits from Cosco liao..
    didnt follow up with the stock for the whole last week .... the last time was still sub $3 .... probably will take lost when hit $4.

    was waiting for the support level at 2700, that's why missed last week surge ....
    not so sure it will go down again to 2700... but think it'll be stuck at around 3,000 for a short while .... boh direction now.
    always the Light, .... always.

  6. #286
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    Default Re: SGX plunge today, would you buy/hold/sell

    Quote Originally Posted by Canonised View Post
    didnt follow up with the stock for the whole last week .... the last time was still sub $3 .... probably will take lost when hit $4.

    was waiting for the support level at 2700, that's why missed last week surge ....
    not so sure it will go down again to 2700... but think it'll be stuck at around 3,000 for a short while .... boh direction now.
    was expected resistance around 3200-3300.. after that back to reality... however.. things can change.. STI technical support lies around 2600
    Last edited by raincool2005; 30th March 2008 at 02:43 AM.

  7. #287
    vince123123
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    Default Re: SGX plunge today, would you buy/hold/sell

    Yep, lines drawn and charts with intentionally sampled ranges to show what the analyst wants to show.

    Quote Originally Posted by NitroTech View Post
    I agree. Charts can be manipulated as well.

  8. #288
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    Default Re: SGX plunge today, would you buy/hold/sell

    Quote Originally Posted by vince123123 View Post
    Yep, lines drawn and charts with intentionally sampled ranges to show what the analyst wants to show.
    can make money can liao... follow the smart money.. but dun stay too long.

  9. #289
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    Default Re: SGX plunge today, would you buy/hold/sell

    STI likely to clear 1st level resistance 3100 tomm.... ! money is coming....

  10. #290
    vince123123
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    Default Re: SGX plunge today, would you buy/hold/sell

    Money can be made whether its going up or down :P So up doesn't necessarily mean money hehehe :P

  11. #291
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    Default Re: SGX plunge today, would you buy/hold/sell

    Quote Originally Posted by vince123123 View Post
    Money can be made whether its going up or down :P So up doesn't necessarily mean money hehehe :P
    You are spot on..... FWIW, I made some money today doing 4 trades.... and all were shorting.

  12. #292
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    Default Re: SGX plunge today, would you buy/hold/sell

    made 500 intra-day trade ..
    Last edited by raincool2005; 2nd April 2008 at 02:58 PM.

  13. #293
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    Default Re: SGX plunge today, would you buy/hold/sell

    Quote Originally Posted by vince123123 View Post
    Money can be made whether its going up or down :P So up doesn't necessarily mean money hehehe :P
    long up can make more money... imagine 0.60 x 50lots... now 1 dollar... shorting intra-day not that rewarding.. high risk infact.. unless u trade using SBL.
    Last edited by raincool2005; 2nd April 2008 at 02:57 PM.

  14. #294
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    Default Re: SGX plunge today, would you buy/hold/sell

    UBS, Lehman Raisings May Signal Rout Is Nearing End (Update3)

    By Elena Logutenkova and Aaron Kirchfeld

    April 2 (Bloomberg) -- Securities sales by UBS AG, the world's largest money manager, and Lehman Brothers Holdings Inc. underpinned a rally in financial stocks that may signal an end to eight months of market turmoil.

    UBS, battered by the biggest writedowns from the collapse of the U.S. subprime mortgage market, announced plans to seek 15 billion Swiss francs ($14.8 billion) in a rights offer to replenish capital, while New York-based Lehman, the fourth- largest U.S. securities firm, raised $4 billion in a stock sale.

    The fund-raising plans quelled speculation the companies might follow New York-based Bear Stearns Cos., which agreed to sell itself last month to JPMorgan Chase & Co. for a fraction of its market value after a run on the company. Investors looked past Zurich-based UBS's 12 billion-Swiss franc first-quarter loss disclosed yesterday after record writedowns on debt securities, as well as Deutsche Bank AG's $3.9 billion of markdowns.

    ``When UBS does a massively dilutive deal and the stock still goes up, that's helpful,'' said Henry Herrmann, chief executive officer of Overland Park, Kansas-based Waddell & Reed Financial Inc., which manages $65 billion. ``It's a rally associated with the presumed elimination of survival risk. The market's getting a little more comfortable that the crisis is over.''

    UBS rose 12 percent in Swiss trading, the biggest gain in two weeks, leading a 5.1 percent rally in the 60-member Bloomberg Banks and Financial Services Index. The company has lost 55 percent of market value during the past 12 months.

    `Enough Demand'

    Chairman Marcel Ospel, 58, who helped form UBS through a merger a decade ago, will be replaced by general counsel Peter Kurer. UBS said it plans more job cuts at the investment bank and will set up a separate unit to segregate assets at risk from the credit-market meltdown.

    Lehman advanced 17.8 percent in New York Stock Exchange composite trading, the most in two weeks, after increasing the size of its sale to 4 million convertible preferred shares from 3 million and saying demand ``significantly'' outpaced supply. Investors paid $1,000 for each Lehman preferred stock, which can convert to 20.0509 common shares once the stock reaches $49.87, or 32 percent higher than the closing price on March 31.

    Macquarie Group Ltd. and Mizuho Financial Group Inc. led the biggest gains in Asian financial stocks in almost nine years.

    The MSCI Asia Pacific Financials Index rose 6 percent as of 2 p.m. in Tokyo, the most since August 1999. Macquarie, Australia's largest investment bank, jumped 9.9 percent in Sydney while Mizuho, Japan's third-biggest bank by market value, gained 8.7 percent in Tokyo. Kookmin Bank, South Korea's largest by assets, gained 7.1 percent in Seoul trading.

    Mitigating Risk

    ``Investors were worried that these big writedowns were going to impede their ability to raise capital,'' said William Fitzpatrick, an analyst at Optique Capital in Racine, Wisconsin, which owned 565,000 Citigroup Inc. shares as of Dec. 31. ``The way Lehman was able to bring in capital, that mitigates a lot of that risk. Clearly there's enough demand for these companies that raising capital is no longer the major overhang.''

    The debt market turmoil spurred by rising U.S. mortgage defaults hasn't abated, and presents the most severe crisis for banks in 30 years, Morgan Stanley and management-consulting firm Oliver Wyman said in a joint report yesterday.

    The world's biggest financial companies reported about $232 billion in credit losses and writedowns since the start of 2007, data compiled by Bloomberg show. In all, investment banks may post $75 billion in markdowns in 2008, the report from analysts led by London-based Huw van Steenis said. Revenue from investment banking may drop 20 percent in 2008, with credit businesses declining 60 percent, the analysts said.

    Leveraged Loans

    Deutsche Bank, which operates Europe's biggest investment bank by revenue, said it expects to book first-quarter writedowns on leveraged loans, commercial real estate and residential mortgage-backed securities. The Frankfurt-based company said market conditions ``have become significantly more challenging.''

    ``I don't see how many banks are going to sustain revenue because parts of the business have disappeared due to the financial crisis,'' said Stefan Mueller, a managing partner at Proprietary Partners AG, a Frankfurt fund management company.

    While investors agree that more writedowns and share-price swings are inevitable, Kevin Rendino, who runs the $6.5 billion BlackRock Basic Value Fund in Plainsboro, New Jersey, found cause for encouragement.

    ``You want to get all the bad assets off the balance sheets, and the banks are in the process of doing that,'' Rendino said in an interview. ``You're seeing the writeoffs, the charges and the replenishment of the balance sheets, so all that's good.''

    The U.S. Federal Reserve cut its main lending rate on March 18 by three-quarters of a percentage point to 2.25 percent. The central bank also started a lending program for brokers, which is similar to the so-called discount window used by commercial banks, after the run on Bear Stearns.

    ``You can't ignore what the Fed has done,'' Rendino said. ``It's been a game-changing set of events over the last couple months. It doesn't make the bad assets worth more but it's going to be good for banks and it creates a better environment for financials going forward.''

  15. #295
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    Default Re: SGX plunge today, would you buy/hold/sell

    Quote Originally Posted by raincool2005 View Post
    long up can make more money... imagine 0.60 x 50lots... now 1 dollar... shorting intra-day not that rewarding.. high risk infact.. unless u trade using SBL.
    Trust me. Intra day trading (be it long or short) has been the best bet since Dec 2007 till now.

    We always hear the "bought 50 lots at 0.60 and sold at $1" but we never hear the " bought 50 lots at 0.60 and pick till now and now it's worth $0.15"...

  16. #296
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    Default Re: SGX plunge today, would you buy/hold/sell

    Quote Originally Posted by NitroTech View Post
    Trust me. Intra day trading (be it long or short) has been the best bet since Dec 2007 till now.

    We always hear the "bought 50 lots at 0.60 and sold at $1" but we never hear the " bought 50 lots at 0.60 and pick till now and now it's worth $0.15"...
    nitrotech, can lah, i picked up cheap at 60 cents during the slump when it dropped from a high of $2.20... and then sold at 1 dollar this week.. my chart technicals helped me a lot this time.

    Different people different approach... u intra-day trading works.. provided u had time to monitor... i cannot as i need to move around between office and clients

    not all boost abt their earnings, I do hear from a bank guy who picked up Chartered Semicon at 10 dollars and hold till now after so many years...
    Last edited by raincool2005; 2nd April 2008 at 03:56 PM.

  17. #297
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    Default Re: SGX plunge today, would you buy/hold/sell

    Quote Originally Posted by raincool2005 View Post
    nitrotech, i picked up cheap at 60 cents during the slump when it dropped from a high of $2.20... and then sold at 1 dollar this week.. chart technicals helped me .

    Different people different approach...

    I do hear people who picked up Chartered Semicon at 10 dollars and hold till now after so many years...
    $10???????? my auntie bought at $19..... 3 lots pick up till now... you say leh??

  18. #298
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    Default Re: SGX plunge today, would you buy/hold/sell

    Quote Originally Posted by NitroTech View Post
    $10???????? my auntie bought at $19..... 3 lots pick up till now... you say leh??
    yours is an auntie (can be forgiven), that guy who told me is asset manager of a local bank... (cannot say which bank)

    i used to intra-trade chartered between 4-5 dollars range for a few times years back and i always contra off after making money ..
    Last edited by raincool2005; 2nd April 2008 at 04:13 PM.

  19. #299
    vince123123
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    Default Re: SGX plunge today, would you buy/hold/sell

    And most of the time you only hear pple talk about their wins but when it comes to losses, all diam diam quiet quiet.

    So it looks like as if everyone so zai always make money, but most of the time thats bullcrap :P

    Some traders even purposely let out false information to say they earn this and that to entice their clients to trade more, and in the end, give them more commissions.

    Quote Originally Posted by NitroTech View Post

    We always hear the "bought 50 lots at 0.60 and sold at $1" but we never hear the " bought 50 lots at 0.60 and pick till now and now it's worth $0.15"...

  20. #300
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    Default Re: SGX plunge today, would you buy/hold/sell

    He has spoken !

    In an exclusive interview to be broadcast on CNBC on “Closing Bell” Wednesday, billionaire investor George Soros told Maria Bartiromo that the markets have hit a significant but temporary bottom.

    “I don’t think we are halfway through the fallout because to think what happens in the financial markets doesn’t affect the real economy is nonsense,” Soros said.

    If this credit crunch, as some have claimed, is indeed the greatest financial crisis since the Great Depression in the 1930s, then Fed will continue to cut interest rates – perhaps to as low as 1 percent. The federal government is probably not though either. Lately, there appears to be a growing inevitability to a broad government bail out of troubled homeowners and even mortgage lenders.


    “A lot of air has been let out of the balloon, but we don't know how much more there is “ says Resler of Nomura International. “This whole crisis underscores the conceit of many in the markets that we can pretend to understand the properties of complex asset structures when they have cyclical sensitivities and we have not experienced those since they were created.”

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