Healthway Medical: Going down?

What is happening to Healthway Medical's share price, some might ask?  Since 5 July, price has only closed above the declining 20dMA twice. In the last five sessions, share price closed at 18.5c, the immediate support. The question on shareholders' minds is whether this support level will hold.  Will it? I don't know. What an answer, right?  Well, TA cannot tell us things like that. It's always a question of probability.  So, might it?  Let us examine some technical indicators.

The declining 20dMA suggests a short term downtrend.  Price closing at 18.5c for five sessions in a row is bearish but note the volume.  It has been thinning as price declined.  A low volume pull back?  Good for the bulls. The MFI has been forming higher lows and the OBV has declined ever so slightly.  Both indicators suggest that there is some underlying support. Again, good for the bulls.  So, 18.5c immediate support might hold.

What if 18.5c breaks?  Well, the longer term MAs are still rising.  The 50dMA should provide some support at 18c in case 18.5c cracks.  Unless there is a significant expansion in volume with any selling down, the 100dMA which is currently at 17c is unlikely to be tested as a support in the immediate future.

Related post:
Charts in brief: 16 Jul 10 (Part 2).

STI gains 0.4% to 2,979.38 at closing. Shares on the measure trade at 14.4 times estimated earnings, compared with about 17.5 times at the beginning of the year, according to Bloomberg data.
Tuesday, 27 July 2010

© 2010 - The Edge Singapore

Charts in brief: 26 Jul 10.

Genting SP: Volume expanded today as price closed at $1.24.  The MACD seems poised to do a bullish crossover with the signal line. Momentum is looking good and one wonders if $1.20 is now resistance turned support. Needs confirmation. However, if one looks at going above $1.20 as a breakout, this is a very "quiet" breakout with rather modest volume. Is it durable?

Genting S’pore up on Goldman upgrade: Goldman Sachs lifted its target price for Genting to $1.15 from $0.79, due to better-than-expected profits from its new casino resort in Singapore, Resort World Sentosa.
Monday, 26 July 2010

© 2010 - The Edge Singapore

CapitaMalls Asia:  Downtrend intact with today's black candle. OBV has formed a lower high, suggesting ongoing distribution activity. The descending 20dMA is preventing further gains. We could be seeing the beginnings of a descending triangle pattern if the downward pressure continues. Immediate resistance at $2.06 and immediate support at $2.02.

FSL Trust: Results were announced today with 2Q FY10 DPU at US0.95¢.  Volume rose today and there was much selling down of its units.  In spite of this, price remained unchanged at 42c.  This is a sign of strength as it means staying above the 50dMA.  MFI continues to rise, suggesting increased demand.  OBV is rising, suggesting continuing accumulation. There is some underlying support for this counter.  20dMA continues to rise and we might be in for a golden cross with the 50dMA soon.

First Ship Lease Trust to distribute US0.95¢ per unit for 2QFY10, 61% lower y-o-y
Monday, 26 July 2010

© 2010 - The Edge Singapore

SPH: The MFI has broken its uptrend support, suggesting a weakening demand. This coupled with the MACD set to do a bearish crossover with the signal line, a retracement to the 20dMA cannot be ruled out.  This is currently at $3.95 which is also an important candlestick resistance turned support. Volume has been reducing as price pulled back.  This is good news for bulls.  Support at $4.00 seems shaky and if this goes, I would keep an eye on $3.95 to see if it holds up as the next support.

STI drops 0.2% to 2,966.99 at closing
Monday, 26 July 2010

© 2010 - The Edge Singapore

Some views from Marc and Jim.

Marc Faber thinks that the Fed would embark on more quantitative easing (aka print more money) in September or October:



Jim Rogers says to buy silver as it is 70% below its all time high:



Jim Rogers also mentioned that sugar is a good investment because a lot of it is being used in the production of alternative fuel.  Now, with the US limiting offshore drilling for crude oil, shortages might develop and that could mean higher crude oil prices in future.  I would keep an eye on CPO price which has been recovering strongly lately.  That affects CPO counters like Golden Agriculture.

Related posts:
Gold or silver?
Why Golden Agriculture?

Do this if you want a good career and life!

(Less attractive people make US$230,000 lesser over their lifetime. About 10,000 people a month Google "Am I ugly?")
UPDATED (2 Jan 17):
AK is very consistent and he is consistently kaypoh. So, what triggered this update to a blog penned in 2010? I saw this advertisement:

Read my blog and do this? I will slap you! 
Know someone who wants to do this? Slap!

Hairy and ladies like them what.
--------------------------
I am reading Newsweek (26 July issue) and they have an article titled "The Beauty Advantage". The topic on looks is, of course, quite common and it is something I have heard talked about before but it is still an eye opener to be reading it in print, not in Her World or Cleo, but in Newsweek.  

In case you are wondering, yes, I have flipped through Her World and Cleo before.  I am sure I am not the only guy who has done it before... ahem.

BEAUTY CAN AFFECT YOUR JOB, YOUR CAREER, YOUR LIFE.  

Here are some numbers:

61% of hiring managers surveyed by Newsweek said it's advantageous for a woman to show off her figure in the workplace.

57% of corporate managers said landing a job is harder for an unattractive candidate.

About 60% of overweight women and 40% of overweight men said they've experienced employment discrimination.

59% of hiring managers said they'd advise job candidates to spend as much money on looks as on their resume.

I remember reading somewhere when I was in my late teens that models could make upwards of $10,000 a month! 

I remember Henry Tee, who was a young model and aspiring TV actor then, being reported as making $5,000 a month!  That's a lot of money twenty years ago (and is still a lot of money now).  

Then, I wondered why I wasn't born with good looks. If I was born with good looks, I could make lots of money just by smiling for cameras. Sigh. So, what's new. Life is unfair, isn't it?

If you look at the numbers above, overweight women have it really bad.  So, it's not just weightism working here, it's also sexism!  

An overweight man is perceived to be less unattractive (and probably more productive) compared to an overweight woman? Sheesh. 

I have the good fortune of knowing some pretty large ladies who are very efficient workers.  I have also seen some really pretty ladies who spent a lot of time looking good and, er, just looked good.

Anyway, like they say, this is an imperfect world. 

I should count my blessings. I mean, I could be an overweight woman and be really discriminated against, right?

Read Newsweek article online: 
The beauty advantage.

A movie: Inception.

Went to the movies today and at the end of it, I told my friend whom I watched the movie with that it has been a long time since I watched a movie that required some effort to understand. Once I understood the theory which was the backbone of the movie, I enjoyed it.  5 minutes in the real world would yield 60 minutes in the dream world.  So, if we dreamt while we slept for 8 hours, imagine how much time that would give us in the dream world.  The movie I am talking about is "Inception".

It gets weirder.  Dreaming within a dream would give us even more time in a deeper dream world.  A dream within a dream within a dream could give us decades in an even deeper dream world, allowing much more time to do all the things we ever wanted to do.  Of course, these things would be accomplished in our dreams and not in the real world.  That gives a twist to the saying: "In your dreams!", does it not?

This also reminds me of a saying by Zhuang Zi, "Was I a man dreaming that I was a butterfly or was I a butterfly dreaming that I was a man?"

All said, it is nice to have dreams.  Just watch out for the nightmares.

Official website: Inception.

Charts in brief: 23 Jul 10.

AIMS AMP Capital Industrial REIT: I was at a friend's house warming and we talked about the stock market a bit and his broker said that this REIT has a very low market capitalisation.  So, it was not on his radar screen.  Actually, I like the sound of that because it would give me more time to accumulate at lower prices.  However, with recent increased accumulation activity as suggested by the OBV's direction, I suspect more are taking note of this REIT's high yield, large discount to NAV and relatively low gearing.  Looking at the candlesticks, it seems that a new support level has been established at 22c in the near term.  Is this sustainable? With all the MAs rising, it might be. The MFI broke out of its downtrend decisively four sessions ago which signals a return of demand. Any further upmove in price would see a retest of the resistance at 23c.

Genting SP: Price has finally closed above $1.20 in the last session.  At $1.21, could it go higher? From 21 June, when price first touched a high of $1.21, volume has been shrinking as intraday price range became narrower and narrower. Volume is the fuel that drives rallies.  Without any expansion in volume in a move up in price, bulls do have cause to worry. It is encouraging that the MFI has moved out of resistance and this shows a return of demand.  However, OBV is flattish which suggests that there is a stalemate between accumulation and distribution despite a return of demand.  Things still look dicey and I would keep an eye on the support provided by the 20dMA which is currently at $1.18.

STI +0.4% but upside limited; 2,984 resistance
Friday, 23 July 2010

© 2010 - The Edge Singapore

FSL Trust: Golden cross?

FSL Trust formed a white candle in the last session with a respectable expansion in volume. The 20dMA continues rising and seems on track to form a golden cross with the 50dMA in the near future. Although we do not see a buy signal on the MACD histogram, the MACD is, nonetheless, rising in positive territory. The MFI has been rising which suggests a rising demand.  The OBV is rising again which suggests continual accumulation.

If price were to stay at 42c in the next session or, in fact, go higher, the resistance provided by the 50dMA would be taken out.  The next target is then 43.5c if price does a gap fill which it probably would.  Beyond that, a retest of the high of early June at 46c is next.

Related post:
FSL Trust: The skies are clearing up.

China Hongxing: Breakout.

The last time I wrote about China Hongxing was on 3 July. At that time, there were still mixed signals.

On Thursday, two sessions ago, there was a buy signal on the MACD histogram and the MFI broke out of its downtrend. Volume expanded 10 times in the last session as price hit a high of 14.5c.  With this, China Hongxing broke out of multiple resistance levels and confirmed the buy signal on the MACD histogram. 11.5c has been established as the bottom while the next resistance is at 16c, as provided by the 200dMA. With momentum oscillators turning up strongly, we could possibly see 16c tested.  Congratulations to those who took the risk to buy some earlier on but bear in mind that it is still trading below the 200dMA and that the longer term trend is still down.

Related post:
China Hongxing: Bottoming?

Tea with AK71: Money well spent.

My recent purchase of a Samsung HD1080p 32" LED TV, a Sony Blu Ray player and a Pioneer sound system surprised quite a few friends and even my family members.  Considering that my last TV was a Chimei 26" LCD HD Ready TV bought three years ago at $688 in Carrefour, you can imagine why. Have I become extravagant?  I hardly think so.

Three years ago, it would have easily cost two times of $688 to get a 26" LCD HD Ready TV from Sharp or Sony.  I decided I did not need something branded then and settled for Chimei which served me quite well in the last three years.  Some friends commented that it was too small for my living room and some said the definition was poor.  Most just went "What is a Chimei?" and some even made puns out of the name.  Terrible. However, I thought it was OK.  I mean I had no problem with news, documentaries and DVDs on my Chimei.  Then, why change?

I saw what the LED TV was capable of delivering during one of my visits to the malls and  I also found the Samsung aesthetically pleasing compared to the Chimei.  You don't find these arguments convincing, do you?  If you are a regular reader of my blog or if you know me very well, yes, you would not be convinced.  The most important reason was that the price was not even two times of $688!  Great technology at a great price!  It is never a question of affordability.  It is always a question of value of money. I decided to pamper myself which is something I rarely do.

So far, everyone who has seen my new TV only had good things to say about it.  I am only human and it feels good to have positive reinforcement from others.  Things are so different from those Chimei days.  This is a positive spinoff that I did not anticipate.

To some people, it seems that I have changed. Well, maybe a little.  I don't think I have changed much.  I am still the pragmatic me but I have to agree that I have become less tight fisted in the last one year. 

I told a friend who visited recently that watching Blu Ray programs is such a joy.  Images and sounds are crystal clear on the new TV. Sometimes, I would just switch it on, watch for about ten minutes, switch it off and go to sleep, feeling happy. Money spent on anything which contributes to a general sense of well-being and happiness has to be money well spent, don't you think?

As an aside, my sister is going to shave her head bald to help some cancer stricken children and I donated some money to the cause in a show of support.  It's a worthy cause, after all.  To find out more, please visit: Hair for Hope 2010. This is definitely money well spent.

Related post:
Money management: Needs and wants.

CapitaMalls Asia: Uptrend broken.

The longer term downtrend which was broken briefly for four sessions in late June is once again in play.  A series of rallies which started after the price hit a low of $1.91 on 7 May has come to an end.

On 16 July, charting revealed that "Prices are testing the support provided by the third fan line.  The uptrend has weakened from the initial fan line and it now looks exhausted. OBV shows clear distribution since price peaked on 23 Jun. From Monday to Thursday, volume expanded as price dropped.  Today, volume is lower and this is probably in response to the slightly oversold condition as suggested by the MFI.  Immediate support at $2.04 and immediate resistance at $2.10.  Closing below $2.04 in the next session would break the uptrend support and the price is likely to move lower from there."

Today, the support provided by the third fan line was compromised with price opening at $2.04 and closing at $2.02.  Volume expanded in the last two sessions as the price fell. MACD continues to fall in negative territory and OBV continues its decline, suggesting greater distribution than accumulation. However, MFI has risen out of the oversold territory. This suggests that there is still some demand and forms a positive divergence with price. This might limit somewhat the decline in price.

Could this decline below the third fan line possibly be a whipsaw to shake out the weaker long holders? It might be. Or could we see the previous low of $1.91 tested again?  If price continues to decline, Fibo lines suggests that this is quite possible. This counter is still looking for a bottom, it would seem.