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ABC is not learning but a building material supplier

Chart Forum » Stocks - ASX: long term & fundamental » A Portfolio for To-Day. » ABC is not learning but a building material supplier

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peterloh
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Username: peterloh

Post Number: 2024
Registered: 03-2003

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Thursday, September 07, 2006 - 02:41 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



In line with my contrarian thinking of getting into value shares I got into ABC today at $2.23.It is not the best time for building materials for Victoria or NSW but things may get better in the near future as the NSW government is rethinking their residential policies and doing away with vendor tax and increased threshold for no stamp duty to $500,000 for 1st home buyers, surely things should get better.Especially with election time near, politicians are about to hang out their carrots.
Aside from the silly funnymentals, lets look at the weekly chart that shows that we are almost at the lower channel, the general direction of the SP remains intact.
RSI is near the oversold level and we are nearing the end of the retracement, I hope any way.In trading we always look at the probabilities, the upside and the downside risk.
The daily chart also shows that we are at a major support level and if it holds this will be the beginning of the trend resuming.As usual the share has been sold down after going ex-dividends and the short sellers using it as an incentive to give it a kick while it is down.Some are in panic mood thinking what is wrong and in line with a down day, one can sometimes pick up a good deal. I am collecting the remnants and build on it.





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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Thursday, September 07, 2006 - 03:50 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



One thing I forgot to mention is ABC has been increasing their dividends yearly since the year 2001.The last increase on its interim dividend is 17.5% and the dividend yield based on my entry price of $2.23 is 7.02% per annum.It was the subjected of a takeover by Boral 2 years ago and management is optimistic about future performance.I have bought it for my super fund and my long term portfolio in the margin lending account.







-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Monday, September 11, 2006 - 12:27 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



For candlestick followers, ABC has a morning star in the making.Got a few more at noon.



-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Thursday, September 14, 2006 - 06:18 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



As usual I am a few days early.A few more ducks appear today and finally it look like it is getting ready to move now.Big volume yesterday and heaps of crossing at $2.15.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Tuesday, September 19, 2006 - 12:28 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Bridging gap in daily chart and evening star in weekly chart.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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palmtrees
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Post Number: 114
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Thursday, September 21, 2006 - 09:55 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Pete. Only just came across your ABC thread. I also believe they have a good future. Virtual monopoly scenario with some of there products and high level of proposed infrastructure development nationwide. In my humble opinion, 2.20 looks like a good price.
All the best, Mark


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peterloh
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Thursday, September 21, 2006 - 11:30 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Mark,

Just got rid of my initial holding of KZL as I thought commodity price has soften a bit and sold just below $5.Was going to sell at $5+ but held on too long, as the captain says "greed".

ABC has a highly cyclical chart, if we look at the past pattern.We are look ing at the trough around this time cumulating to the top of the channel in 4 -5 months time.At $2.23 it is still around 20% growth in that period, but one has to have patience though.
At this time we are also seeing the changing of the guards ie some instos increasing their holding whilst others are reducing, we call it rebalancing.

Best Wishes


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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palmtrees
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Friday, September 22, 2006 - 09:21 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



PL, what a great trade KZL was for you! Congratulations. Have a look at TZN.I would be interested in your thoughts. As you pointed out , The supply/demand equation for Zn remains the same and apparently will into 2008. TZN looks to me to be ready to take advantage.
Mark.


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peterloh
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Friday, September 22, 2006 - 10:38 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Mark

TZN doesn't seemed to be ready just yet on the indicators I use although yesterday's doji was at the bottom. I think we may need further confirmation.TZN may be consolidating at best currently.Maybe you can post us your chart to show us your indicator.You know your chart on KZL convinced me it was a good buy when you posted.You probably could have seen something that I haven't.






-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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palmtrees
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Friday, September 22, 2006 - 01:18 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Agree PL. Indicators do not support a buy, but a trend looks to be forming.There is support at 1.20 now. CEO says they are aggresively searching for tenements in Africa to add to proven reserves in S. Aust. Just a hunch but I feel this could be one for the watchlist.
tzn


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peterloh
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Monday, September 25, 2006 - 11:40 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



palmtress,

From your chart, TZN is almost on support line. Using candlestick charting doji bottom and the trend line, it is likely TZN will reverse its recent down trend soon.Good illustration, palmtrees.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Wednesday, September 27, 2006 - 10:27 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



A director bought 184000 at $2.23, that helps. Still holding.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Tuesday, October 03, 2006 - 09:20 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Gamma followers to enter from here?This trend will take us to blue sky from here?15 weeks MA staying over 30 weeks MA.Relative strength index also going up.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Friday, November 03, 2006 - 10:29 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Directors are still getting into this one.After buying into ABC at a very good price,I am adding more to my current holding.From previous candlestick patterns, this one will continue to the beginning of february.$2.57 is not too bad a price considering BLD has a haircut after announcing that there is a likely hood of a 15% lower profit.ABC's overall performance will continue to improve because of its exposure to residential market in WA,NT and SA.I currently hold both ABC and BLD.In the ABC weekly chart,the 15weeks MA approaches the 30weeks MA then bounce off it strongly, an indication that it wants to go higher still.





-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Monday, November 06, 2006 - 12:01 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



From observation of the weekly chart of ABC for the last 5 years,every time the 15weeks MA approaches and bounce off the 30weeks MA, it went on to break the previous resistance level and into blue sky again. Another reason that I decided to add on more to my portfolio.This is besides the directors adding more to their portfolio.


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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Tuesday, November 07, 2006 - 08:52 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



ABC - BREAK OUT




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Monday, November 13, 2006 - 11:28 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)





In the daily chart,ABC has fallen off the channel and in the weekly chart trading within a range of $2.35 and $2.55.
Bought in more at $2.46 last week, is that a mistake as an interest hike of .025c may dampen demand!!

ABC fortunately is well diversified and have their business in most of the states.Demand in NSW has slacken but maintained in other states especially their cement products. In the first half of the year, major repairs were done and maintenance completed.Aquisition for Rawina Quarry has also been completed.Lime business should increase due to an increase demand for resources.Directors are optimistic that the targeted EBIT of $92-$96 Million would be achieved.The half year profit was 39M, so we are looking at an increase of about 40% EBIT in the second half year.A director has bought 184,000 at $2.23 in September followed by another 300,000 at $2.47 last month.This director must have been confident to have increased his stakes.The last 2 years have not been good for building materials company but ABC has been having record year of profit for the last 4 years and is looking at another record year of profit this year looking at the positiveness of their business outlook and the directors action.


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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Tuesday, November 14, 2006 - 01:43 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



When ABC dropped 15c in a day, I bet many short sellers think that it is easy meat.If the share has been short, there will be a quick run up in price soon, otherwise we will see a gradual rise in price as the improved profitability of the company in time will be factor
into the share price.I do expect that ABC will reach blue sky before the summer is over, lets watch.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Wednesday, November 22, 2006 - 03:58 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Have took profit on my 100ks of ABC at average price $2.585.ABC may retrace at this level before its next move up.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Thursday, February 15, 2007 - 02:26 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I have substituted BLD for ABC, as BLD is also in a recovery mode and does likely to perform better from hereon ie in November onwards, refer Hilarius Section fallen angels.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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gdd3
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Sunday, July 11, 2010 - 08:56 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi PeterLoh,

Surely it hasn't been over 3 years since you've(or indeed anyone else) looked at this one because this is the thread that comes to the top when using the I.C. 'search engine'! I know I submitted a posting on her about a year ago when the likes of Hershy and myself were looking at a number of stocks that were showing potential H & S bottoms; ABC was one.

Anyway, back to now....ABC did confirm its H & S bottom in late July 2009 BUT unlike most or our examples posted ABC had 'failed' to reach its minimum measured move(M/M) objective....or is it slowly and patiently(characteristic of ABC)reaching out for that target. Well I now do think so especially after last week's action as shown below in the Weekly Chart.

Last week's action broke above its 9 month range($2-45 - $2.95), on very good volume(3rd highest over the last 2 years) and was the largest single week's range for the last 2 years....all thanks to stronger than expected 1st half year results. Interestingly, the last time better than expected results were presented(FYR...Feb 18th 2010)ABC fell away but this was to present astute(not me) investors with the best entry point for the year(so far) as it was back to the neckline of the H & S Bottom!

So from here ABC should reach btwx $3.36-3.45min. but would I be buying it at $3.10(Fri's close)? ...probably not. However, if she gets back anywhere near the high $2.90's the risk/reward ratio becomes far more attractive.

So what do you think, Peter...or are you already/stil in ABC?



Cheers
Dolphin

P.S...This is just my 'take' on this stock and definitely shouldn't be construed as financial advice...DYOR please or consult your own licenced broker...if thats your scene!







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peterloh
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Username: peterloh

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Monday, July 12, 2010 - 01:48 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi dolphin,

I have been trading this one all along. Only this time I increased my stake in MAP instead. Yes I do agree with an entry price of $2.90, only it may not be likely to get to that again though.I didn't get in on the last retracement. This one is outperforming BLD.

Cheers

Peter


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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