Well, the sentiment has been tainted by the heavy weight SSEC and Hang Seng which spills the negative sentiment over in the afternoon. Further deteriorated by the up going energy price.
Amongst the climbing stocks in the top actives, most of them turned and retreated as soon as the ending trading bell sounded.
Considering the turnovers, Yangzijiang took the most of everything and is currently in focus. There are mainly two group of people that will be especially concern over this counter. There are the contra-long and the contra-short. You can tell easily that a contra-short are jittery over their naked or CFD short position as they tried to talk down this counter further in leading stock forums. Extremely obvious.
The real reason for the down trending intra day movement believed by most:
By Bei Hu
Oct. 29 (Bloomberg) -- An investor in Yangzijiang
Shipbuilding (Holdings) Ltd., China's second-largest private
shipbuilder, is raising as much as S$212.5 million ($147 million)
selling shares in the company, according to an e-mail sent to
fund managers.
The shareholder, identified only as Joseph Lau, is offering
his entire stake at S$2.58 to S$2.63 per share, the e-mail said.
The stock closed at S$2.66 today in Singapore. Citigroup Inc. is
managing the sale.
My personal sense is that this counter, with RSI being at the oversold region should see a significant rebound tomorrow, gaping up. Once it gaped up and continue to move up after taking cue from SSEC, spiking it up even further. Consequently at this point of the time, shortist from 29/30/31 October and 1 November will panic and cover back. Once the stage is set just after lunch, big buyers start to come in and make the matter worst for these shortist bringing the price back to $2.64 region, at least in just one or two days.
Well, it may be a day dream before the real thing had even occurred, but this is what I can possible see and reasonably expect.
Above are all personal opinion and not an inducement to trade.
Amongst the climbing stocks in the top actives, most of them turned and retreated as soon as the ending trading bell sounded.
Considering the turnovers, Yangzijiang took the most of everything and is currently in focus. There are mainly two group of people that will be especially concern over this counter. There are the contra-long and the contra-short. You can tell easily that a contra-short are jittery over their naked or CFD short position as they tried to talk down this counter further in leading stock forums. Extremely obvious.
The real reason for the down trending intra day movement believed by most:
By Bei Hu
Oct. 29 (Bloomberg) -- An investor in Yangzijiang
Shipbuilding (Holdings) Ltd., China's second-largest private
shipbuilder, is raising as much as S$212.5 million ($147 million)
selling shares in the company, according to an e-mail sent to
fund managers.
The shareholder, identified only as Joseph Lau, is offering
his entire stake at S$2.58 to S$2.63 per share, the e-mail said.
The stock closed at S$2.66 today in Singapore. Citigroup Inc. is
managing the sale.
My personal sense is that this counter, with RSI being at the oversold region should see a significant rebound tomorrow, gaping up. Once it gaped up and continue to move up after taking cue from SSEC, spiking it up even further. Consequently at this point of the time, shortist from 29/30/31 October and 1 November will panic and cover back. Once the stage is set just after lunch, big buyers start to come in and make the matter worst for these shortist bringing the price back to $2.64 region, at least in just one or two days.
Well, it may be a day dream before the real thing had even occurred, but this is what I can possible see and reasonably expect.
Above are all personal opinion and not an inducement to trade.
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