Unisteel

Re: Unisteel

Postby kennynah » Sun Jun 08, 2008 2:14 am

lioninvestor wrote:This lion is friendly lah..not fierce one. :D

hi Lion : i see...big, strong and hairy, kinda friendly... hahaha... joking ok... over here, we can be a little lighthearted off trading hours...or perhaps, it's just me...

enjoy your weekend and always look forward to seeing your next post.
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Re: Unisteel

Postby lioninvestor » Sun Jun 08, 2008 5:19 pm

San San wrote:congrats on your earnings, dear Lion.

tidy profits :?:


Small amount.

Barely enough to cover the increase in the price of rice which has gone up from $5+/pack to $10+ in the space of a few months...
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Re: Unisteel

Postby kazataza » Mon Jun 09, 2008 10:30 am

congrats to all who're vested :)

anw, anyone heard of anything on Ferrochina? heard it's a takeover target as well
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Re: Unisteel

Postby iam802 » Fri Jun 13, 2008 1:47 pm

Small step forward.
-----
APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER

http://info.sgx.com/webcorannc.nsf/ef3b ... enDocument
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Unisteel

Postby iam802 » Wed Jul 30, 2008 2:58 pm

RESULTS OF THE COURT MEETING

http://info.sgx.com/webcoranncatth.nsf/ ... penelement

-----
Key Points:
=======
The Directors are pleased to announce that at the Court Meeting convened by an order of the
Court and held today, Unisteel Shareholders have, by the requisite majority, voted in favour of
the Scheme.


Key Dates:
=======
Last day for trading of the Unisteel Shares : 8 September 2008

Books Closure Date : 11 September 2008, 5.00 p.m.

Effective Date of the Scheme : 12 September 2008

Expected date for the payment of the Scheme Consideration: By 22 September 2008

Expected date for the delisting of the Unisteel Shares: After payment of the Scheme Consideration
---
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Unisteel

Postby kennynah » Wed Jul 30, 2008 3:00 pm

means what? close shop or delist ?
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Re: Unisteel

Postby iam802 » Wed Jul 30, 2008 3:04 pm

delist
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Unisteel

Postby iam802 » Tue Sep 23, 2008 2:06 pm

Ok, Unisteel is officially delisted from SGX.

But, I would like to recap the trade and also use Ichimoku to do some hindsight study.


1. This counter first alerted me some time around 30 May. See the first blue 'up-arrow'.
- prior to this, it was selling down for 3 days.
- but May 30 shows a possible reversal with above average volume

2. June 2. (second blue-arrow)
- Gap up and buying volume increases

3. June 3 (third blue arrow)
- Price and volume continue to go up
- Price also break resistant at 1.65
- a very good confirmation

4. Offer price was 1.95 (if I recall correctly)
- so, buying with confirmation at $1.67 (give 2 bids to confirm...be kia-see a bit)
- the return would have been around 16% +


Image

Now, for a bit of hindsight theory.

Using ichimoku, we would have seen that the lines exited the kumo around 15 April. Price goes from 1.4 to 1.6 within one day.

That is a much easier trend to identify. Very strong breakout from kumo. Above average volume. Very good price range. And the ichimoku indicators state so as well (lines cross, kumo exit, chikou span and volume).
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Unisteel

Postby blid2def » Tue Sep 23, 2008 2:30 pm

Thing is, Ichimoku looks at close - not intraday - for the crosses, etc. So what would've happened is:

- You enter a position at April 14, about 1.65. Since there's no data on the left, I dunno if there's a resistance level or not at 1.85 where the climb got stuck.

- Here's where it gets tricky from this chart. Since I can't see a resistance level, I can't tell if I would've sold off at this point for a 0.20 profit (12%). Let's say I didn't.

- The price then descends, cutting the Tenkan first (warning) and then the Kijun (big warning) on ~21 May. At this point, you also get the Chikou cross confirmation that the rally has failed, albeit on the wrong side of the kumo.

- Now this becomes a question of: do you follow the weaker sell signal and confirmation (since it's on the wrong side of the kumo), or do you wait for the kumo support to break? The former makes sense if you're conservative (and the overall market trend isn't with you - you exit at 1.60 with a $0.05 loss); the latter makes sense if you're more garang (but you'd lose more on this trade).

- On hindsight, we can say, don't cut 'cos the Kijun is inclined; but at the end of the day of the cut, the Kijun wasn't that clearly inclining yet.

- So I think putting myself into that trading scenario now, I think there's a higher chance that I'd have taken a slight loss on this trade with a more conservative trade unless I'd exited earlier.

Here's something I've observed today, which I'll try and look at in future. This is from looking at both the CRB Index weekly chart and this one: Might be worthwhile to consider the relationship of the Chikou to the Kijun in the event of a rally or slump... it might offer some clues to the success rate of that price movement.
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Re: Unisteel

Postby iam802 » Tue Sep 23, 2008 2:48 pm

Thanks GR. Very good points to note, especially on the relatonship of Chikou and kijun

Just one more point to add.

From Feb 25 to Apr 14, do u see a cup-handle (maybe a saucer, rather than a cup) formation ?

It is so much easier to see with the kumo on top of it.
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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