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Friday, October 01, 2010

DOW opened 100 points up, but ended 50 points lower. A123 going below USD9 again while NEP shot up above USD6 now. Crude oil up again, reaching USD80 and Gold at a high.

Linkin Park - Burning in the skies

Video and Lyric



Lyric and better audio



"Burning In The Skies"

I use the deadwood to make the fire rise
The blood of innocence burning in the skies
I filled my cup with the rising of the sea
And poured it out in an ocean of debris

I'm swimming in the smoke
Of bridges I have burned
So don't apologize
I'm losing what I don't deserve
What I don't deserve

I held my breath as clouds began to form
But you were lost in the beating of the storm
But in the end we were meant to be apart
In separate chambers of the human heart

I'm swimming in the smoke
Of bridges I have burned
So don't apologize
I'm losing what I don't deserve

It's in the blackened bones
Of bridges I have burned
So don't apologize
I'm losing what I don't deserve
What I don't deserve

I'm swimming in the smoke
Of bridges I have burned
So don't apologize
I'm losing what I don't deserve

The blame is mine alone
For bridges I have burned
So don't apologize
I'm losing what I don't deserve

What I don't deserve
What I don't deserve
What I don't deserve

Here's the dead wood to make the fire rise
The blood of innocence burning in the skies

9.20 am : KLCI up 4 points, MAS continues to move. UEMLand in red, profit taking but uptrend is still strong. So, I m grabbing UEMLand-cc at 0.30 level.

EAH : Will be doing nothing until 0.55 level again. No queues today.

Kinsteel : I like Kinsteel at current level ... sideway trading and grabbing at 0.85 is seen as a good entry point.

SigGas : Waiting for that one-day jump up to trim some.

Supermax : I seriously like it at the current level, oversold. It is in RED again today ... interesting!!

9.40 am : Supermax done at 3.75. DO NOT BUY into a knife and blame me, ok? I was queueing at 3.75 yesterday but not done, so I continue my queue this morning, it was green above 3.80 just now but coming back down. I m queueing at 3.70 and 3.65 at the moment. I like watefalls ...

Venue : Staff Lounge

we have a new lounge, specially for us to relax ... and this is my first time I m hanging here. With newspapers available, we can make our limitless refill of beverages(milo, nescafe and such - NESTLE in mind). So, this will be my new hibernation place. haha

10.20 am : It has been a while that I did not write about HKSE. I will remain focus with KLSE as KLSE is the best market around!! Wow ...

PT : I think I m having a new follower, a young colleague of mine. I have about 60-80 of colleagues here but only speak with a few. PT is one of them, hardworking young lecturer who knows nothing much about investment. And I want to share what I said generally to him

Quote : Anything up, must come down. Anything down must rebound. I asked him to remember that if he is ever going to buy anything in any market.

That is only 20% truth in such generalisation. Look ... he is raw and know nothing about markets. So, do not try to dispute that quote and trying to show you know about investment and such. Unless it is constructive, keep it to yourself.

to be continued

UEMLand : At 2.25, touched 2.24 now. I m watching it as today is a profit-taking day for UEMLand and WCT. UEMLand-cc at 0.305, refuses to move lower, so my lower queues not done. Just grabbed some at 0.30 and 0.305 so far.

GenS-c8 : Up 14%, so time to re-look into this one. PUNT PUNT ... punt?

2.45 pm : GenSP may move above SGD2 again, heavy buying seen today - up 10cent.

China : With 875, 000 millionaires there now. 6% increased comparing to last year!! Wow ... That figure could only increases ...

JCY : At 0.985 now ... watching ... not queueing YET.

3.00 pm : Supermax rebounds ... can breach Rm4 today?

Supermax-ca : I sold half for losses at 0.100 yesterday, and queueing at 0.095-0.09 to buy back(as Supermax OVERSOLD), but feel stupid as I just bought back at 0.105 done. I m queueing to buy back more at 0.100. Hmm ... a common story line for a novice trader.

Lions : Today my stalk list showing Lions are in red. I read about LionDiv in AlexLu's blog as was thinking of my LionInd. So, I think LionDiv is worth watching ...

SigGas : Up today but I m watching 0.92 level and above to sell.

3.45 pm : Annoucement that Supermax is at RM4 now. I will SELL when my 10% profit-target gained OR ride on it if it is a recovery?? Tell me ... how?

Supermax-ca : Yes, IF I didnt being discipline to cut half at 0.10 yesterday, I m gaining hugely now. It is at 0.115. Hmm ...

Supermax : I noticed that its intraday low was at 3.75, my purchase price!! Arrghh ... many will say shit-words again. How could I be so sharp - show us your a/c and proofs. Haha ... like I owe them anything. Get real ... none of my trades are real, stupid! You didnt read my post yesterday that I was queueing at 3.75 meh? I m using TA(oversold, RSI in ridiculous level), FA + news, some EA and lots of LUCK, LA + HA. These are my RA for today's Supermax gaining 6% at RM4 so far.

4.45 pm : A nice candle-stick will be seen in Supermax and Hai-O today.

My Es : While EAH is breathing below water, perhaps sand-quick, Efficient not moving. Hey, E&O moves today. These are my three E I like ...


Stockquest : My wife's a/c doing very well ... and I have abandoned mine. Haha. Realised profits from EAH, Kinstel and LionDiv totalled to RM9,500. I have sold half of RedTone just done at 0.235 for another RM800 realised profits. The only unrealised loss is EAH which stands at RM2k now. I m buying UEMLand at 2.25 hugely just now, and looking into Hubline. I think I could acheive my 15% target in a month. Unfortunately, 15% in a month is TOO LITTLE for those Karambunai goreng-kakis.


Supermax CEO says the issues triggered profit taking

Taken from : The Star

KUALA LUMPUR: While acknowledging cost pressures in the industry, Supermax Corp Bhd the world’s second largest glove maker strangely blamed bonus issues for creating a glut of new rubber glove shares on Bursa Malaysia that triggered profit-taking and dragged the share prices of most rubber glove counters lower in recent months.

Executive chairman and managing director Datuk Seri Stanley Thai said four public-listed rubber glove companies, including Supermax, had over the past three months given out bonus issues to reward shareholders after registering a superb performance in 2009 - thanks to the H1N1 pandemic scare.

But he maintained that Supermax’s one-for-four bonus issue had minimal impact on its share price compared with the others which offered one-for-one and one-for-two bonus issues, resulting in many new shares flooding the market.

This came amid concerns in the industry like overcapacity, high latex prices, the appreciation of the ringgit and a potential cut in gas subsidies.

Top Glove Corp Bhd and Kossan Rubber Industries Bhd had each given out one-for-one bonus issues while Hartalega Holdings Bhd offered a one-for-two bonus issue.

(Note: Bonus issues do not truly affect the total assets or the balance sheet of the company. It simply involves a free distribution of shares, which increases the number of the company’s shares.)

Thai reckons that it would take between three to six months for the market to absorb the current oversold situation in rubber glove stocks.

“The biggest risk, however, is a further appreciation of ringgit against the greenback and other regional currencies. This will (cause) local glove players to be uncompetitive compared with its peers from Thailand and China,” he told StarBiz yesterday.

Thai also said Supermax planned to strengthen its overseas distribution network via expansion to the BRIC nations (Brazil, Russia, India and China) as well as Vietnam and Indonesia.

Unlike other local glove players which had invested in setting up manufacturing plants abroad, he said “Supermax will continue to focus on Malaysia as its manufacturing hub but will aggressively expand its distribution network.”

Its existing distribution network includes Brazil, Canada, Germany, the US, Australia and Belgium.

To date, about 42% of Supermax’s total exports go to the US, followed EU (26%) and Latin America (18%). Asia represented only 4% of the group’s total export, according to Thai.

“We plan to penetrate the developing countries market particularly China and India in a big way within the next two years .

“In fact, all Supermax’s newly expanded capacity was aimed at the developing markets,” he said.

Supermax’s 9th plant, which is set to be fully operational this month, will boost the group’s total annualised installed capacity to 17.5 billion gloves from about 15.5 billion previouly. In addition, phase one of Supermax’s 36-acre Glove City project in Kapar, Selangor, which is expected to be commissioned by the second half 2011, would further increase the group’s annualised installed capacity to 21.5 billion pieces of gloves.

Meanwhile, OSK Research in its latest report downgraded the rubber glove sector to “neutral” from “overweight.”

It noted that the rubber glove sector had been experiencing “normalising” demand since the early second half of 2010 when the impact from H1N1 pandemic began to fade, while having to contend with new capacity.

“As rubber glove manufacturers were unable to pass on to their customers all the additional cost increases arising from higher latex prices and an unfavorable US dollar and ringgit exchange rate, most will see their margins as well as absolute bottomlines being compressed,” said OSK Research.

AmResearch in its report said demand growth for rubber gloves had peaked and would continue to decelerate. It expects a supply glut of three to six billion pieces of gloves over 2011 to 2012, up by 4% if demand for gloves falls below 10% per annum.

“There will be growing margin risks on persistently strong headwinds of high latex costs, a weak US dollar versus the ringgit and potentially pricier natural gas prices,” it said.


TEH

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