Damn SingNet connection has been giving me big problems recently. Lost my internet connection back at home and apparently SingNet couldn't find out what's the problem. I'll only be able to update on our portfolio once they got it resolved.
Meanwhile, it seems like we have been pretty lucky for the past week. If you have been following my trades, we would have taken profit on MGM Resorts International before the stock tumbled due to the disappointing result expectation.
The rest of our current portfolio seems to be doing ok. Iron Mountain is slowly climbing back since 5 Oct 2010. The company stock is now trading around $21.50 for a paper profit of about 3.8%. I've managed to enter Quiksilver Inc at the price of $4.16 and this counter is sitting comfortably at $4.38 now. Rick's Cabaret is also doing well at $7.49 now. That's about 7% in the money for us. Ezra Holdings from SGX is trading at $1.87 before dropping to $1.82 today. Anyway, we'll be holding this till the rights shares are available for trading.
Most of you would have already noticed we've been selling of alot of our positions and holding on to some cash. I'm waiting for the market to tank a little before trying to find for some good counters that's been trading at discounted prices.
Be patient and good luck ahead!
Showing posts with label Ezra. Show all posts
Showing posts with label Ezra. Show all posts
Monday, October 18, 2010
Friday, September 17, 2010
Recap and Pointers for the upcoming week(s)
It's been a while since anything worth blogging is happening in the market. I've some points to note down for recap and a brief outlook on next week.
Some time around the 3rd week of August, there were some little concerns about the market doing a double dip. I actually wrote a point about the US market probably not going to drop by too much. You may read about the analysis here. The US market is actually up for a consecutive week now so all is good.
I've still had an open position for Ezra which we've bought recently. Do take note there is a 1 for 5 rights issue for this counter. Please exercise the right to buy the additional shares at $1.18. That should bring our average price for Ezra to about $1.71.
China property prices has gone crazy yet again despite the government tightening. You should be able to find plenty of reports confirming the sudden rise in prices in September again. Probably due to the pent up frustration during the "seventh" month... who knows? Here's one such article. I foresee the Chinese government coming in with further tightening actions soon if the trend continues. As such, I'm not going to touch property counters for the time being. In fact, I just advised a friend to sell of his Yanlord shares. There should be very limited upside and we're better off investing in other more exciting stuff.
So what are the exciting stuff? Gaming counters of course!
Las Vegas Sands, Genting International and SJM Holdings have all rocketed quite a fair bit recently. Results have been nothing short of spectacular. Ok maybe not so spectacular for LVS but seeing the result of RWS, I think there's alot of potential for LVS to be in the black this coming quarter. I'm also monitoring some other retail counters as well as a little bit of a sinful stocks. Will post it up when the opportunity arises.
Coming next week.....
Some time around the 3rd week of August, there were some little concerns about the market doing a double dip. I actually wrote a point about the US market probably not going to drop by too much. You may read about the analysis here. The US market is actually up for a consecutive week now so all is good.
I've still had an open position for Ezra which we've bought recently. Do take note there is a 1 for 5 rights issue for this counter. Please exercise the right to buy the additional shares at $1.18. That should bring our average price for Ezra to about $1.71.
China property prices has gone crazy yet again despite the government tightening. You should be able to find plenty of reports confirming the sudden rise in prices in September again. Probably due to the pent up frustration during the "seventh" month... who knows? Here's one such article. I foresee the Chinese government coming in with further tightening actions soon if the trend continues. As such, I'm not going to touch property counters for the time being. In fact, I just advised a friend to sell of his Yanlord shares. There should be very limited upside and we're better off investing in other more exciting stuff.
So what are the exciting stuff? Gaming counters of course!
Las Vegas Sands, Genting International and SJM Holdings have all rocketed quite a fair bit recently. Results have been nothing short of spectacular. Ok maybe not so spectacular for LVS but seeing the result of RWS, I think there's alot of potential for LVS to be in the black this coming quarter. I'm also monitoring some other retail counters as well as a little bit of a sinful stocks. Will post it up when the opportunity arises.
Coming next week.....
Hang Seng is currently trading near resistance level. 21,805 points was the recent high and the market is near this level.
Straits Times index also seems like there's going to be limited upside, probably facing strong resistance near the 3,100 level.
Looks like if you guys have any counters that is in-the-money now can consider taking some profits. I believe the market is due for a small dip soon and that's when we'll look to enter again.
Wednesday, August 18, 2010
SGX : Ezra
EzraEzra has been one of the few oil and gas company that I've like monitoring. Judging from their 3rd quarter financial statement, they seem to be pretty stable. I'm also giving them extra points for having JVs with Keppel Corp.
The share have taken some beating in the past few months dropping from about $2.50 to the current level of around $1.80. Base on the chart, it seems like a decent time to enter this counter. However, looking at the oil and gas industry as a whole, this might take a while to hit a good profit level. Nevertheless, I'll look to enter tomorrow if it opens above $1.82. (Judging from tonight's US market result, there is a high chance of that happening).
Entry price : $1.82 or slightly above
Cut loss price : $1.62 (conservative readers can try $1.74)
Target price : Should be above $2.10 (will post it when the time is nearer)
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