Sunday, October 25, 2009
Saturday, October 17, 2009
- 1$.42bn debt
- But asset base is 2.38bn - is developable land valued at cost.
- 900,000 sq ft landbank, target and higg end of market. 400 units unsold inventory in projects such as the Marq, Hilltops and Martin No 38.
- Landbank carried on bookas an avg cost of $1500 psf (is this cost price?)
- Company has sold 20% of its inventory, and is collecting payments progressively.
Tuesday, October 13, 2009
- This rally is driven by liquidity, not fundamentals. Unlike '98, Asia cannot export its way out. Expect years for the world economy to rebalance. Governments in every country, from the US to China to Australia to Singapore have given some sort of 'stimulus package'. One day the morphine will wear off.
- My gut feel is that the rally still has some way to go. I dont feel the optimisim for the end of a bull. Still, I could be wrong - this sentinment is not a measurable indicator. I await further signs eg: penny stocks (sub 5c) on SGX hitting top 20 vol, more bullish news reports, less doubt, more participation by the masses.
US market has been making new highs in low vol since August:
Graph from Bespoke Investment group showing breadth has improved since August (possibly since July).
Uncertain. Market may still be in trading range - so I'll buy on dips, cut loss when going up. The S&P chart above shows the mini-rallies from July to now lasted 8-13 days. Tomorrow will be day 7 of the current 'mini rally'. The SGX has now gone back to faithfully following the previous night's US moves (where it used to preceed them).
Monday, October 12, 2009
Saturday, October 10, 2009
Also sold 10 lots Epure @ 55.5c the dame day as it broke below support. The future price action is not so bad - still too early to tell if it has broken the uptrend.
I wanted to sell both the day before but my broker advised me to wait.