China's central bank is rushing to calm fears over the yuan's plunge in recent days. The yuan lost about 0.7% against the dollar on Thursday morning, extending losses over the last three days to 3.7%, following a move earlier in the week by the People's Bank of China to allow market forces more influence over the currency.
"After a two-day adjustment, the [yuan] has gradually returned to a more market-oriented level," PBOC official Zhang Xiaohui said during a press conference. "The one-time total depreciation of around 3% is largely finished ... and is a necessary phase in exchange rate reform."
The yuan had remained quite strong against other global currencies, appreciating roughly 10% since 2014, she said, adding that a depreciation was always in the cards, and needed to keep the exchange rate stable against the dollar.
Temporary reprieve for the moment. 25 kaput. 235 also does not seem to be able to hold. Next stop will be wayyyyy at 17. With current political scenario condition still to be played out I really doubt anything will hold for now. I wonder is there anyway to find out if the private placement takers has sold ?
these PP takers are competent business-minded people with long term business plans that are here for the long duration...I don't think they are easily affected by the short term volatilities...buy on dips la..what else :)
Mondrian if u cud jz hv a little more faith n a little more patience u wouldn't hv to cut loss..hehehe
no need everytime also want to ask madiba la...she has shared the vision already ma...do your own analysis n once decided never look back n hv faith unless something drastically changed..
some people when up damn happy,when price down,blaming others...these are the people not willing to learn from others n improve themselves..they thought they hv already know it all...stock market is actually a very good place for us to reflect on our weaknesses n strengths provided we r open minded enough :)
Madiba is a female ? The way she expresses her opinion sure doesn't seem like it … not that I'm putting her into a box / stereotyping. just saying . No offense meant Madiba. I takut angry woman punya ….(there I go again.)
not only mpay , all the other counters also suffered heavy losses.....So , now 1600 broken , will it go lower or support is coming....If u r buying blue chips around this level , u will be well insulated when index ups again....in a short while coz nothing going down perpetually n likewise .
Wish everyone here a joyous n relaxing weekend...hopefully next week the sun shall rise! I think the warrants exercise has ended already or at least very near its end...
Today looks like building a strong base at 0.225-0.230 thanks to mc88...must thank him if not he will complain why no one thank him as stated in his previous deleted posting...hehehe...i still remember :D Lets hope this strong base will launch mpay to the moon very soon!
Actually mc88 has been a die hard fan of mpay since long time ago...according to previous postings,he has spoken abt the strong management n bright future of mpay even b4 madiba... So must sincerely salute him :)
One more thing to monitor...director aminuddin had acquired 700K units at 0.28 on 21/7 n had notified his intention to deal in the securities during closed period....from past records everytime he acquired shares during or near closed periods,there wud b improvement in the quarterly results....mpay qr will b out this month...lets wait n c....
ayoyoyoyoooou.... still have problems with mpay? WHY OH WHY?? it moved from abt 17sen lowest to 35sen in 2015...not in 6days, or 6 weeks but for 6 long months.. it cant be the counter as it already gave one the opportunities to make money.. it must be one's strategy..or more likely one doesnt have any???.
even tho one buys the right stock, at the right time, at the right price n in the right SIZE, if one fails to SELL or EXIT all, it means nothing!!! one's balls can be eaten at end of the day.. n in mpay one has 6 long months to enjoy the ride..i had 8 rounds in all..3 explosive orgasms, 3 small spurts, n 2 just barely made it esp with the converted shares fm the warrants..
waiting for madiba/bullbear's next BUY call for my 9th round in 2015... it was also at abt 20sen in feb? when madiba made that buy call??
n as usual madiba's buy call is uncannily timely..spot on..but i will also check into my charts whether to sapu using a small lidi or hantam = just vacuum it clean..
I got stuck. Bought at rm0.235 and should sell at rm0.255. Well, few question to consider. How much the market can go.. and if we buy at this low price, how long can it go up if foreign fund stays away. I dont think local institution can support much
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
eastlands
89 posts
Posted by eastlands > 2015-08-12 11:00 | Report Abuse
though the market is oversold and due for a rebound- at best it will only be a rebound. brace yourselves guys, the worse is yet to come