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Courage Marine: 1Q 2010 results.

Thursday, May 13, 2010

Courage Marine presented its 1Q 2010 results today with the BDI at an auspicious number, 3,888! A happy coincidence! 

Quarter on quarter, operationally, its revenue improved 12.9% and gross profit margin improved from 19.1% to 27.8%.  Its balance sheet remains very strong as it retains a nett cash position.  Cash flow from operations in 1Q 2010 was US$5.3m.

Technically, Courage Marine's chart looks weak.  However, there is no obvious selling down of the stock.  This is confirmed by the OBV which is flat. MFI is in the oversold region and price is currently below all the daily MAs.  If the price action does not recapture supports, the malaise could continue and price could drift lower.

I have a list of companies and REITs which I would like to buy on any near term weakness in the next few months. Courage Marine is one of them.

Read press release here.

Related post:
Courage Marine: Riding the waves of recovery.


Anonymous said...

Hi Ak,

Care to share which are the reits and companies you are looking at and at what price level?
I am thinking to buy Lippo Maple(0.46); AIMS-AMP(0.205); SPH(3.70);starhub(2.14);Hyflux(2.90)

AK71 said...

Hi Naomi,

The first three counters on your list are the same as mine. I am also interested in more Courage Marine, Saizen REIT, Saizen REIT Warrants, Golden Agriculture, Healthway Medical and CapitaMalls Asia.

As for prices, I don't really know because I will wait for the charts to tell me when it might be safer to enter. At the moment, things are still looking dicey. :)

Anonymous said...

Hi Ak,

Tks for sharing.
As for price, do you usually buy around support? I am not very good and always enter at the wrong price or selling too soon.
Any books to recommend that is easy to understand? I tried reading this book by Martin Pring abt price pattern and find it too diffcult to understand.

AK71 said...

Hi Naomi,

Martin J. Pring's "Technical Analysis Explained"? I am reading that now. A few pages every few nights. ;p I was told it is a classic. So, I bought a copy when MPH at Parco Millenia had an opening sale.

You might want to try the Dummies series. The two books I read in the Dummies series when I started are found in the box titled "Books I've read" in the top right hand side of this blog.

Buying at support and selling at resistance is the way to go in an uptrend. In a downtrend, buying at support is not so safe because that support might break and become resistance. See my experience with CapitaMalls Asia? Ouch!

It takes time to pick up TA and, frankly, I am still learning as I go along. Some things are best discovered through experience. :)

la papillion said...

Oh, martin prick ;)

He's a classic chartist :) Classic chartist likes to shoot laser beams. After all the shooting, the chart looks like the aftermath of star wars, hoho :)

AK71 said...

Hi LP,

Oh my. It seems that you have a very low opinion of the author or the book. ;-p

Anonymous said...

Anyone has any comments on "Getting Started in Technical Analysis" by Jack D Schwager??


la papillion said...

Hi AK,

Oh nono, don't get me wrong. I've deep respect for his works. I make light of everything, so don't worry about me :)

It's true that after drawing all the trendlines, the whole chart will look like the aftermath of star wars :) <--example :)

(btw, he's good, just making fun of hahalol)

AK71 said...

Hi JT,

I am afraid I am not familiar with that book. :(

Hi LP,

I guess that's a reason why you didn't play a cleric in AD&D. You're irreverent. Hahaha ;-p

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