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Post by zuolun on May 18, 2014 18:54:34 GMT 7
Note:When companies could not boost their share price thru healthy & sustainable earnings/economic growth and innovations...instead boost their share price thru share buybacks, bonus issues, rights issue, stock consolidations/splits, warrants issue, etc...these are creative deals which do not have fundamental value or basis = strong signal that the share price may be due for a steep decline. On 23 Feb 2013, ChinaFish had a 1-for-1 rights issue of 1,049,843,939 new shares @ S$0.34 per rights share On 30 Mar 2007, ChinaFish had a stock split of 1 into 2 sharesChinaFish — Bearish Rectangle Breakout, expect downside more than upsideChinaFish closed unchanged with a dragonfly doji @ S$0.36 with thin volume done at 587 lots on 16 May 2014. Immediate resistance @ S$0.37, crucial support @ S$0.305. The free rider "Cheng Kay" run road on 16 Jan 2014, ChinaFish may retest the record low @ S$0.305 scored on 26 Aug 2013 and hit lower low. 升势莫估顶,跌势莫估底。 Long-term wise, strong stock remains strong, weak stock remains weak.ChinaFish (monthly) — 25 Jan 2006 to 16 May 2014ChinaFish (monthly) — Jan 2006 to Sep 2012
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Post by zuolun on Nov 26, 2014 17:28:25 GMT 7
升势莫估顶,跌势莫估底。 Long-term wise, strong stock remains strong, weak stock remains weak.ChinaFish — Classic MOD chart pattern Biased to the downside, TP S$ 0.26ChinaFish closed with a spinning top @ S$0.29 (-0.02, -6.5%) with extremely high volume done at 3.05m shares on 26 Nov 2014. Immediate support @ S$0.285. immediate resistance @ S$0.305.
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Post by zuolun on Dec 11, 2014 13:19:45 GMT 7
ChinaFish — Classic MOD chart pattern, biased to the downside, interim TP S$ 0.215ChinaFish had a piercing pattern @ S$0.26 (+0.005, +2%) with extremely thin volume done at 127 lots on 11 Dec 2014 at 2.15pm. Immediate support @ S$0.25. immediate resistance @ S$0.27.
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Post by zuolun on Feb 11, 2015 2:20:21 GMT 7
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Post by zuolun on Feb 11, 2015 8:59:55 GMT 7
China Fishery: Why is the stock trading so cheaply? ~ China Fishery has free float < 20%. Stocks with low free float generally do not perform as well as others because the so-called price discovery of the shares is not as efficient as more liquid shares. ~ 20 Jun 2013 China Fishery Proposes Rights Issue Proceeds to help fund redemption of Copeinca Notes11 February 2015 Singapore - Leading global industrial fishing company, China Fishery Group Limited (“China Fishery” or the “Group”) (SGX: B0Z.SI), today announced that it proposes to undertake a Rights Issue of up to 1,714,006,713 new ordinary shares (the “Proposed Rights Issue”) on the basis of 4 rights shares for every 5 existing ordinary shares. The rights shares will be priced at S$0.173 for each rights share, which represents a discount of approximately 33.5% to the closing price of S$0.260 per share on the Singapore Stock Exchange as at 9 February 2015, the last trading day immediately before the announcement. The Company intends to utilize the net proceeds of the Rights Issue, together with other funding of the Group, to fund the redemption of the US$250 million (approximately S$337.5 million) 9.0% notes due 2017 issued by the Copeinca Group (the “Copeinca Notes”). The remaining proceeds, if any, will be used for general working capital purposes of the Group and/or to reduce borrowings of the Group. “We remain committed to the early redemption of the Copeinca Notes which are due in 2017. It is an important step in our objective of reducing borrowings and strengthening the balance sheet. We have recently announced an improvement in our net-debt-to-equity from 89.6% to 77.9% over the first quarter of financial year 2015, and the early redemption of the Copeinca Notes will deliver further reduction in gearing and interest expense,” said Mr Ng Joo Siang, Group Managing Director. Pacific Andes Resources Development Limited and shareholders representing a total shareholding of 70.5% will be supporting the Proposed Rights Issue and will use approximately S$199.7 million (approximately US$147.9 million) to subscribe in full for their entitlement to the Rights Shares of China Fishery. Maybank Kim Eng Securities Pte Ltd has been appointed to act as the manager in connection with the proposed Rights Issue. The Gambler's Fallacy
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Post by zuolun on Feb 11, 2015 16:43:16 GMT 7
China Fishery closed @ S$0.186 (-0.074, -28.5%) with 16.58m shares done on 11 Feb 2015. The new rights issue shares priced @ S$0.173 per share showed that China Fishery is very desperate for cash. Pacific Andes closed @ S$0.051 (-0.004, -7.3%) with 76.7m shares done on 11 Feb 2015. China Fishery, Pacific Andes dive on news of rights issue11 Feb 2015 INVESTORS dumped stocks of China Fishery Group and its largest shareholder Pacific Andes Resources Development Ltd on Wednesday on news that China Fishery will undertake a rights issue of up to 1.7 billion new shares priced at 17.3 Singapore cents apiece. China Fishery dived 27 per cent to 19 Singapore cents, gravitating towards the rights issue price, on active trade of 11 million shares. Pacific Andes was the most active stock in early trading, with its share price falling 5.5 per cent to 5.2 Singapore cents after a hefty 63 million shares changed hands by 11.37am. "The rights issue came as a negative surprise to the market; that's a reason why China Fishery is dumped down," said a dealer at a local brokerage house. Moreover, two of the eight directors of China Fishery dissented to the terms of the rights issue given the significant discount in the pricing and its dilutive impact on shareholders who cannot subscribe to the rights shares. "That creates a lot of negative feeling on the rights issue," the dealer noted. When Pacific Andes called for an underwritten rights issue of 3.8 billion new ordinary shares at an issue price of 5.1 cents apiece in November, everyone thought that was the end of any near-term fund-raising, he added. In its announcement released on Wednesday morning, China Fishery proposed a rights issue on the basis of four rights shares for every five existing ordinary shares. The pricing of 17.3 cents represents a discount of about 33.5 per cent to the closing price of 26 cents per share on the Singapore Exchange as at Feb 9, the last trading day immediately before the announcement. With the support of Pacific Andes, which owns a 70.5 per cent stake in China Fishery, the rights issue is likely to go through. Pacific Andes said that it has, through its subsidiaries, irrevocably undertaken to subscribe in full for their entitlement to the rights shares of China Fishery at an aggregate value of S$199.7 million. ChinaFish (monthly) — Jan 2006 to Sep 2012
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Post by zuolun on Feb 12, 2015 10:47:43 GMT 7
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Post by zuolun on Feb 13, 2015 15:38:23 GMT 7
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Post by zuolun on May 14, 2015 7:10:35 GMT 7
Lower Peruvian anchovy capture hits China Fish's results ~ 14 May 2015 Moody's: ChinaFish's modest H1 results have no ratings impact ~ 13 May 2015 ChinaFish reported a 38.3% decrease for the 6-months ended 28 Mar 2015 ~ 11 May 2015 Carlyle's stakes in ChinaFish diluted from 11.09% to 6.16%, after the co's 1.6b rights issue on 29 Apr 2015 ~ 5 May 2015 Proposed renounceable non-underwritten 4-for-5 rights issue of up to 1.72b shares @ S$0.173 per rights share ~ 6 Mar 2015 ChinaFish to issue more shares despite Carlyle dissent, ‘angry’ shareholders ~ 11 Feb 2015 ChinaFish proposes 4-for-5 rights issue, with backing from major SSH, Pacific Andes ~ 11 Feb 2015 On 29 Apr 2015, ChinaFish had a 4-for-5 rights issue @ S$0.173 per share to raise S$283.2mOn 23 Feb 2013, ChinaFish had a 1-for-1 rights issue of 1,049,843,939 new shares @ S$0.34 per rights share On 30 Mar 2007, ChinaFish had a stock split of 1 into 2 sharesBottom-fishing is the toughest gameplay in the stock market ChinaFish — Bollinger Bands SqueezeChinaFish closed unchanged with a shooting star @ S$0.20 with 17.5m shares done on 13 May 2015. Immediate resistance @ S$0.215, immediate support @ S$0.193. China Fishery ~ An example of a Leveraged Buyout (LBO)The Gambler's FallacyGambling with Other People’s MoneyImagine a superb poker player who asks you for a loan to finance his nightly poker playing. For every $100 he gambles, he’s willing to put up $3 of his own money. He wants you to lend him the rest. You will not get a stake in his winning. Instead, he’ll give you a fixed rate of interest on your $97 loan. The poker player likes this situation for two reasons. First, it minimizes his downside risk. He can only lose $3. Second, borrowing has a great effect on his investment — it gets leveraged. If his $100 bet ends up yielding $103, he has made a lot more than 3 percent — in fact, he has doubled his money. His $3 investment is now worth $6. But why would you, the lender, play this game? It’s a pretty risky game for you. Suppose your friend starts out with a stake of $10,000 for the night, putting up $300 himself and borrowing $9,700 from you. If he loses anything more than 3 percent on the night, he can’t make good on your loan. Not to worry — your friend is an extremely skilled and prudent poker player who knows when to hold ,em and when to fold ,em. He may lose a hand or two because poker is a game of chance, but by the end of the night, he’s always ahead. He always makes good on his debts to you. He has never had a losing evening. As a creditor of the poker player, this is all you care about. As long as he can make good on his debt, you’re fine. You care only about one thing — that he stays solvent so that he can repay his loan and you get your money back. But the gambler cares about two things. Sure, he too wants to stay solvent. Insolvency wipes out his investment, which is always unpleasant — it’s bad for his reputation and hurts his chances of being able to use leverage in the future. But the gambler doesn’t just care about avoiding the downside. He also cares about the upside. As the lender, you don’t share in the upside; no matter how much money the gambler makes on his bets, you just get your promised amount of interest. If there is a chance to win a lot of money, the gambler is willing to take a big risk. After all, his downside is small. He only has $3 at stake. To gain a really large pot of money, the gambler will take a chance on an inside straight. As the lender of the bulk of his funds, you wouldn't want the gambler to take that chance. You know that when the leverage ratio — the ratio of borrowed funds to personal assets — is 32–1 ($9700 divided by $300), the gambler will take a lot more risk than you’d like. So you keep an eye on the gambler to make sure that he continues to be successful in his play. But suppose the gambler becomes increasingly reckless. He begins to draw to an inside straight from time to time and pursue other high-risk strategies that require making very large bets that threaten his ability to make good on his promises to you. After all, it’s worth it to him. He’s not playing with very much of his own money. He is playing mostly with your money. How will you respond? You might stop lending altogether, concerned that you will lose both your interest and your principal. Or you might look for ways to protect yourself. You might demand a higher rate of interest. You might ask the player to put up his own assets as collateral in case he is wiped out. You might impose a covenant that legally restricts the gambler’s behavior, barring him from drawing to an inside straight, for example.
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Post by zuolun on May 16, 2015 0:20:11 GMT 7
ChinaFish ~ Island Bottom ReversalChinaFish closed with a white marubozu @ S$0.23 (+0.02, +9.5%) with high volume done at 30.8m shares on 15 May 2015. Immediate support @ S$0.215, immediate resistance @ S$0.245. [/quote]
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Post by zuolun on May 18, 2015 22:05:17 GMT 7
sptl123, This is what I always believe; The Gap Theory ChinaFish's gap between S$0.191 and S$0.221 created on 11 Feb 2015 has been successfully closed on 15 May 2015 and the share price continues to shoot higher. ChinaFish ~ Island Bottom Reversal ChinaFish closed with a white marubozu @ S$0.25 (+0.02, +8.7%) with high volume done at 25.9m shares on 18 May 2015. Immediate support @ S$0.23, strong resistance @ S$0.27. ChinaFish ~ Island Bottom ReversalChinaFish closed with a white marubozu @ S$0.23 (+0.02, +9.5%) with high volume done at 30.8m shares on 15 May 2015. Immediate support @ S$0.215, immediate resistance @ S$0.245.
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Post by sptl123 on May 18, 2015 23:58:01 GMT 7
sptl123, This is what I always believe; The Gap Theory ChinaFish's gap between S$0.191 and S$0.221 created on 11 Feb 2015 has been successfully closed on 15 May 2015 and the share price continues to shoot higher. ChinaFish ~ Island Bottom Reversal ChinaFish closed with a white marubozu @ S$0.25 (+0.02, +8.7%) with high volume done at 25.9m shares on 18 May 2015. Immediate support @ S$0.23, strong resistance @ S$0.27. Bro Zuolun you are so right about the Gap Theory and Island Bottom Reversal ! I studied your previous post last weekend but I miss the trade even ICHIMUKU has all the bullish buy signal. The main reason is because I didn't practice: 升势莫估顶,跌势莫估底 ; thinking that the price already gone up too much. I will watch China Fish closely and look up for bearish candle stick for trend reversal and trade Fibonacci retracement.
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Post by zuolun on Aug 30, 2015 10:36:02 GMT 7
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Post by zuolun on Aug 31, 2015 9:18:03 GMT 7
A sad closure of ChinaFish ~ 30 Aug 2015 Stock to watch: China Fishery31 Aug 2015 The Carlyle Group has ended its presence on the board of China Fishery Group almost four months after declining to take part in a rights issue by the fishing company, China Fishery announced Monday morning. Patrick Siewert, a board appointee of Carlyle fund CAP III-A, resigned as a non-executive director of China Fishery on Aug 29. His alternate, Janine Feng Junyuan, also stepped down. Mr Siewert cited competing time commitments as well as CAP III-A's reduced shareholding in China Fishery for his resignation, China Fishery said. The fund did not take part in an April rights issue, diluting its stake to 6.16 per cent from 11.09 per cent. Shares of China Fishery and its parent, Pacific Andes International Holdings, have come under pressure since Aug 21 after the companies said that they were being investigated by regulators in Singapore and Hong Kong. China Fishery shares closed at 5.9 Singapore cents on Friday.
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Post by odie on Jan 25, 2016 20:04:39 GMT 7
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