YZJ breakout : first target $1.11-1.13 , Genting breakout : first target - 1.64-1.66

YZJ may  meet some initial downward reaction first  at 1.075

Genting may meet some initial downward reaction first at 1.60

Bernanke seeks strong fiscal stimulus package from Obama speech on 5 Sept to complement Fed's monetary stimulus , pleads with tea party Republicans not to sabotage approval process and economic recovery once again in the name of deficit reduction ... leaves new monetary stimulus decision to 20-21 Sept extended fomc .......... The STi should enjoy a small relief rally having bottomed out at 2680 .. before political intimidation from republicans and bad news from Europe comes back to haunt markets again ..

The STi should enjoy a small relief rally having bottomed out at 2680 - first stop 2765  retrace then  2780 retrace then  2815-30  before it suffers a strong but brief  downward reaction there .. then we shall see ...

Kepcorp bottoms out at 8.40  -- first stop 8.62 then retrace then 8.72 retrace then 8.82 -  maintain short-term profit target $9-$9.12 before we see a strong but brief downward reaction there .. then we shall see ...

Genting bottoms out at 1.46 first stop 1.60 retrace then maybe 1.65-1.67  before it suffers a strong but brief downward reaction there .

PIMCO CEO: Bernanke's cry for help

Bernanke's speech tonight -- it's anyone's bet - might be wise to take some chips off the table first ............and re-enter after the speech if market reacts favorably

Steve Jobs resigns , Buffet plonks $5 bn into Bank of America and all eyes on Jackson Hole

...

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for example,  a golden single-day or daytrade shorting opportunity  presented itself this morning at open ..which runs counter to general uptrend ( for dow , shanghai ) or sidetrend with upward bias( for hsi , sti )  to Bernanke's speech on friday but is still very profitable for shorting at open and closing the short by 5pm. I am sure this shorting will not be very profitable if you hold it for 2 days.

 Obviously this short term day-trade bearish event  is quite  confusing or stressful for anyone who is already heavily committed to the general uptrend on the longer timeframe of a few days  to the Bernanke speech at Jackson hole.

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Bill E's take : Markets should enjoy a slow nice rally from here through friday to greet Bernanke's QE3 speech at Jackson hole ....

STi should rise to 2815-2825 after bouncing off from 2685-2720 ,, then retrace   then maybe 2865-85  ...  then retrace  then maybe 2915 if Bernanke presents a "QE3 with shock and awe"

Kepcorp should rise  to $9  after bouncing off from $8.30-40.

DJ MARKET TALK: More Downside To YZJ, Cosco's GFC Valuations -Kim Eng ... Bill E's Take : I think Cosco has found a temporary bottom at 96c ...

DJ MARKET TALK: More Downside To YZJ, Cosco's GFC Valuations -Kim Eng   22/08/2011 14:54   0653 GMT [Dow Jones] China-based shipbuilders Cosco Corp (F83.SG) and Yangzijiang Shipbuilding (BS6.SG) extend recent falls in heavy volume, down 0.5% at S$0.970 and off 1.6% at S$0.955 respectively, which Kim Eng puts down to "a grimmer outlook" for Chinese shipbuilders "in the face of a slower order flow and rising costs from labour, raw materials and yuan appreciation." It notes Cosco is down almost 60% from its January 2011 high of S$2.42. It says in 2008, Cosco traded at trough P/B of 1.44X and applying the same multiple translates to floor value of S$0.77, based on NAV of S$0.535. It adds Yangzijiang is acknowledged as one of the more efficient shipyards in China, but "we do not think it will be immune to the current predicament." Further, Yangzijiang traded at trough P/B of 1.2X during the global financial crisis, implying a floor value of S$0.75, though the house notes continued share price weakness has prompted several insiders, including its Executive Chairman, to resume open market purchases. (matthew.allen@dowjones.com) Bill E's Take : I think Cosco has found a temporary bottom at 96c  .

expecting a small bounce for Dow Jones tonight ...

may see a small short bounce from bottom this morning before market sentiment takes over in the afternoon then we shall see -- small short bounce for Genting at 1.46-1.48 , STi at 2700 -2714 , Cosco at 0.90-0.93 , Kepcorp at 8.42... etc . cross fingers ...

DJ MARKET TALK: Daiwa Starts Cosco Corp. At Underperform,Target S$1.00

DJ MARKET TALK: Daiwa Starts Cosco Corp. At Underperform,Target S$1.00

0057 GMT [Dow Jones] STOCK CALL: Daiwa initiates Cosco Corp. (F83.SG) at Underperform with a S$1.00 target price. "We believe Cosco Corp Singapore's premium to its peers over the past three years is no longer justified, due to: its exposure to bulk shipping, and the operating profit-margin contraction trend," the house says. It expects Cosco's share price to derate from its above-average and higher-than-peers' P/E. It notes the shipbuilder's operating-profit margin has been falling since it started on new offshore rig-building projects; "this trend was confirmed in the 2Q11 results." It adds, Cosco's exposure to bulk shipping is negative given the current oversupply of ships and weak demand due to the global economic slowdown. "Notwithstanding the about 70% fall in the share price since the company announced worse-than-expected 2Q11 results (Aug. 1), we expect further share-price downside from further negative margin surprises." The house prefers Keppel (BN4.SG), rated Outperform, for "its better operational efficiency, earnings outlook, and attractive valuations." Cosco shares closed down 1.8% at S$1.11 Tuesday. (matthew.allen@dowjones.com)

Note : Cosco share price and Daiwa's target price is fast approaching our unwavering 90c call made on 10 Aug 2011 ...( despite the recent sharp  general market   rebound  with Buffet bullish prompting  and cosco  analysts'  consensus target calls above $1.20 )   see http://sgxswinger.blogspot.com/2011/08/cosco-70c-here-we-come.html

DJ MARKET TALK: HSI Off 1.1%; Recent Rebound Is Over - Strategist

18/08/2011 15:19 DJ MARKET TALK: HSI Off 1.1%; Recent Rebound Is Over - Strategist   0718 GMT [Dow Jones] The HSI is down 1.1% at 20,048.23, extending losses as it tracks the China bourses, with the Shanghai Composite falling 1.6%. "I think the recent rebound to Wednesday's high of 20,504 from last week's trough of 18,868 (set Aug. 9) is over. Now, investors are taking profits, triggering some selling pressure," says Linus Yip, strategist at First Shanghai. He tips the HSI in a 20,000-20,500 range, and says if it falls below 20,000, its Aug. 9 trough of 18,868 should serve as a strong support ahead. China Mobile (0941.HK) is down 0.7% at HK$75.10 after reporting its interim results at the midday break. Bank of Communications (3328.HK) is down 1.7% at HK$5.76, on profit-taking after the stock rose 5.4% over the past three sessions, ahead of its results, expected after the market close today. Volume is modest at HK$56.06 billion. (susanna.tai@dowjones.com)

Bloomberg : Most European stocks retreated as German Chancellor Angela Merkel and French President Nicolas Sarkozy rejected an expansion of the region’s rescue fund and rebuffed calls for joint euro borrowing.

 

  

Most European stocks retreated as German Chancellor Angela Merkel and French President Nicolas Sarkozy rejected an expansion of the region’s rescue fund and rebuffed calls for joint euro borrowing.

By Julie Cruz - Aug 17, 2011 4:37 PM GMT+0800

Most European stocks retreated as German Chancellor Angela Merkel and French President Nicolas Sarkozy rejected an expansion of the region’s rescue fund and rebuffed calls for joint euro borrowing. Photographer: Fabrice Dimier/Bloomberg

European stocks fell as German Chancellor Angela Merkel and French President Nicolas Sarkozyrejected an expansion of the region’s rescue fund and rebuffed calls for joint euro borrowing. Asian shares were little changed and U.S. index futures dropped.

Bill E's take : Genting may drift slowly towards 1.46 - my technical downswing target ...

DJ MARKET TALK: UOBKH Keeps Genting At Technical Sell; Eyes S$1.40 ..

0239 GMT [Dow Jones] STOCK CALL: UOB KayHian maintains its technical Sell call on Genting Singapore (G13.SG), with a revised technical target price of S$1.40. It notes its previous Sell target price on August 5 of S$1.62 was met on Thursday, and the stock is trading below its moving averages; "it may fall further as it is not able to break above S$1.78." The house notes RSI has lost its momentum and both MACD and its signal line are pointing down, "alternatively, investors may consider exiting their shorts if prices break above S$1.85." The house tips resistance at S$1.78 with support at S$1.40. UOB KayHian's institutional research has a fundamental Buy rating on Genting with a target price of S$2.21. Shares are up 1.2% at S$1.69. (matthew.allen@dowjones.com)

Bill E's take :  Genting may drift slowly towards 1.46 - my technical downswing target ...

DJ MARKET TALK: Genting Singapore 2Q EBITDA Below Expectations

DJ MARKET TALK: Genting Singapore 2Q EBITDA Below Expectations

0032 GMT [Dow Jones] Genting Singapore (G13.SG) may come under pressure after its 2Q11 earnings fall below expectations; the casino operator posted revenue of S$728.7 million, down 21% on quarter, while EBITDA was S$347 million, down 34% on quarter, lower than the S$378 million tipped in a Dow Jones poll of seven analysts. Daiwa says the sequential falls in revenue and EBITDA were attributable to a lower win rate of 2.66% (vs 3.8% for 1Q11) and a 13% on-quarter drop in rolling-chips volume, while the volume for mass market and slots remained stable. It notes RWS saw its market share in gross gaming revenue decline to about 50% in 2Q11 (from 60% in 1Q11). "We see the market-share changes as unexciting for Genting." Morgan Stanley says while Genting's share of Singapore's gaming market fell, the whole market also declined; "Singapore GGR dropped by 5% on quarter to US$5.65 billion in 2Q11, a significant divergence from Macau." The house also remains concerned that Genting's growth is limited by capacity. Shares closed Friday +2.7% at S$1.725. (matthew.allen@dowjones.com)

BUFFETT: I'M BUYING

Buffett: The lower stocks go, the more I buy -- stop reading the charts , just read my interview at http://finance.fortune.cnn.com/2011/08/11/warren-buffett-buy-stocks/?iid=Lead

Errata : Cosco looks like heading for 90c

Errata : Cosco looks like heading for 90c  later corrected to 96c see http://sgxswinger.blogspot.com/2011/08/dj-market-talk-more-downside-to-yzj.html

08/08/11 STi the day after S&P downgrade of treasuries .. heading towards a final target of 1518-35 .

08/08/11 the day after S&P downgrade -- STi heading towards 2518/35

Obama: We have a deal .......................................... Bill E: We have a sell into strength ?

Visit msnbc.com for breaking news, world news, and news about the economy

STi to hit 3230  today ? ...  Time to sell or short  into strength   ? ...

1 Aug 2011 : Obama : We have a deal ..... Bill e : we have a sell into strength ?

Visit msnbc.com for breaking news, world news, and news about the economy

STi to hit 3230  today ? ...  Time to sell or short  into strength   ? ...