Author Topic: Coastal  (Read 43660 times)

Offline zuolun

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Re: Coastal
« Reply #250 on: August 20, 2011, 08:46:58 AM »
Maersk Drilling Puts Oil Rig Fleet Expansion on Hold as Build Costs Soar

By Marianne Stigset
Aug 19, 2011 6:55 PM GMT+0800

Maersk Drilling, the oil rig unit of Denmark’s largest company, may put its expansion on hold because the cost of building platforms is rising and takeovers are too expensive.

“We see newbuilding orders being at a fairly high price and we will certainly not go out and order something tomorrow or in the near future,” Chief Executive Officer Claus V. Hemmingsen said yesterday in a telephone interview. “We would have to watch the market, they’re very expensive currently.”

Maersk Drilling, which has about 3 percent of the offshore market, has a five-year target to become the world’s fifth- largest owner of rigs able to drill the deepest offshore wells. It’s spending $3.8 billion to build four deepwater drillships and two so-called ultra-harsh jack-up rigs, and plans to order at least eight rigs by 2016, Hemmingsen said. Maersk has also kept an eye out for acquisition opportunities.

“I would say that while valuations may have been low, the end purchase prices are not particularly low,” the executive said. “We have been following the markets and we have not found that it was the right thing for us to pursue” corporate acquisitions at this time, he said.

Rising oil prices have increased exploration budgets and added demand for rigs able to operate in harsh and deepwater environments such as the Arctic and Brazil. Stricter rules after the Deepwater Horizon rig exploded and sank in the U.S. Gulf of Mexico have also increased demand for more modern rigs, boosting costs for new rigs and fueling merger and acquisitions.

Transocean Deal

Transocean Ltd. (RIG) this week agreed to buy Aker Drilling ASA for almost twice its market value at $1.46 billion, to expand its ultra-deepwater rig fleet. That followed Ensco Plc’s bid in February for Pride International Inc., which was valued at $8.47 billion including debt, a 24 percent premium.

“We are very firm, that as we do look at candidates or even assets, it would have to be something that fits our high- end sophisticated fleet,” Hemmingsen said. “It’s not important for us to gain size, it’s important to get the right equipment. Our primary view is that we will grow organically.”

Maersk Drilling, a unit of Copenhagen-based A.P. Moeller- Maersk A/S, has brought the average age of its fleet down to eight years, the world’s second-lowest after Seadrill Ltd. (SDRL) That compares to an industry average of 22 years, Hemmingsen said.

Four Drillships

The company ordered the four drillships from Samsung Heavy Industries Co. Ltd. and two ultra-harsh environment jack-ups from Keppel FELS Ltd. and has the option to order two more drillships with Samsung at the same price as the first four, Hemmingsen said. Maersk expects to order its next eight rigs in the ultra-deepwater, semi-submersible and drillship segments once the market conditions permit, Hemmingsen said.

Prices to build new rigs “have been fairly stable over the last four years, but with a tendency to rise over the last six months,” Hemmingsen said. “They’ve probably risen 10 to 12 percent in the last six months.”

The unit’s second-quarter profit surged to $223 million from $175 million a year earlier helped by an 18 percent gain in sales as high oil prices spurred demand for modern rigs, Maersk said on Aug. 17.

Financing future newbuild rigs will be done from “general corporate financing sources available to A.P. Moeller-Maersk Group and/or operational cash flow,” spokeswoman Birgitte Gam said in an e-mailed response to questions yesterday.

Maersk Drilling’s 26 rigs include 6 ultra-harsh environment jack-ups, 6 further jack-ups, 4 semi-submersibles and 10 drilling barge rigs. Jack-up rigs have extendable legs while semi-subs are rigs that float and are partly filled with water for stability.

‘Full Coverage’

The company has “almost full contract coverage” for the remainder of the year, according to its second-quarter statement, and has over 70 percent of its available capacity covered for 2012, Hemmingsen said.

Demand for rigs remain high and is expected to be boosted in Norway, where Maersk is the biggest operator of jack-ups, by Statoil ASA (STL)’s announcement this week that the Aldous Major South and Avaldsnes discoveries in the North Sea are linked, creating the biggest offshore oil find this year. The “giant” discovery may help prolong Norway’s oil output, which has declined for 10 consecutive years.

“It’s great news for the industry,” Hemmingsen said. “We do expect that it will lead to increased activity and also increased activity in the segment that we are targeting, which is the jack-up segment up to 150 meters of water depth.”

Demand from regions such as Norway, Brazil, West Africa and the Gulf of Mexico are supporting day rates, both for ultra- deepwater and for jack-up rigs.

For ultra-deepwater rigs, “we’ve had an average of about $450,000 for a while, and we wouldn’t expect it to go below that,” Hemmingsen said. “We’re not so optimistic that we see a rapid increase, a dramatic increase either, but probably a stable level of $450,000 to $550,000 would be expected going forward in the short-term.”
 

Offline zuolun

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Re: Coastal
« Reply #251 on: August 21, 2011, 09:13:59 AM »
http://www.youtube.com/watch?v=zNDh0q8AVC4

Market in Death Cross Mode: Stay on the Sidelines Says Louise Yamada

By Jeff Macke | Breakout – Tue, Aug 16, 2011 11:21 AM EDT

Fast markets are emotional markets. In case you had any doubt on that, I would refer you to the comment section of Breakout stories from last Wednesday when bears ruled the roost, and the comments from yesterday when the dominant theme was the impossibility of "timing the market" (by, say, opining that stocks had hit a near-term bottom at 1,100).

As one who seeks to learn about all investing strategies, even the weird ones, I suggest a truce so that we may take a deep breath and take a fresh look at the market's fundamental and technical field position. The fundies are atypically rather easy: Corporate earnings are quite strong and the macro data is dropping off a cliff.

Now for the technicals.

To help us on the chart-front, Breakout called in Louise Yamada, Director of Louise Yamada Technical Research Advisors. I make no bones about my respect and admiration for Louise. I've followed her work for years and she's made me money. Is she always right? Of course not, nobody is. But she's far better than most and errs on the side of preserving capital rather than trading on hope. Good technicians aren't about catching tops or bottoms, they're about catching the "meat" of a move.

All that said, let's get her opinions:

U.S. Markets as a Whole: Louise says we are "finished with a cyclical bull and entering a cyclical bear." It's not the end of the world, just an end of the uptrend off the 2009 lows. Since January of this year, the market has seen falling volume on rallies. Simply put, longs are nervous and ever less inclined to buy the dips. As we saw when the S&P500 uptrend from 2009 broke definitively around the 1,300 level, followed by support failing at 1,250; nervous bulls sell in a hurry.

The Death Cross & Other Momentum "Tells": A Death Cross occurs when the 50-day moving average (MA) falls beneath the longer term, 200-day MA. This technical indicator is getting a lot of buzz of late, both because it has a very cool name and it's been a relatively reliable indicator of a failing market. The fact of the averages crossing is a function of market momentum failing. Obviously. The Death Cross occurs relatively seldom and can change quickly, Louise notes. A false cross occurred in 2010 but reversed within weeks. On the other hand, the cross in early 2008 was an outstanding exit cue. These are the two most recent Death Cross triggers.

While "one should pay attention" to the Death Cross, Louise is more concerned with the MACD, Stochastic, and ADX. These more subtle indicators of market momentum are all looking punk, adding to Louise's conviction that the cyclical bull is done. As is the case with all momentum-based technicals, Louise's favorite 3 tells don't tic the exact top, but rather suggest a pull-back will be more sustained than the normal ebb and flow of the tape.

Uptrends and Support: These blunt instruments of TA are the basis of the Purple Crayon system. They are the indicators most widely followed by the masses, meaning the maximum number of buyers create demand when uptrends and support are hit. In a bull market, the thick crayon lines hold, just as they did from the S&P bottom of '09 all the way to this summer. When "uptrends (are) sliced right through leading to 20% down moves" it's rather obvious the buyers have less conviction than fleeing bears.

Add it up and markets are showing ominous weakness, both on the macro economic front and the charts. To be clear, Louise isn't crying "short!", she's suggesting a position on the sidelines. "There are only two losses that you take," she sagely observes, "Loss of capital and loss of opportunity. I'd rather be out of the market wishing we were in, than in the market wishing we were out."

Go ahead and argue charts versus fundamentals versus buy and hold in the comment section below, but know that you'll never change my opinion of Louise and her work. Keep an open mind; dogma and good investing seldom mix.

Offline zuolun

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Re: Coastal
« Reply #252 on: August 21, 2011, 10:22:14 AM »
http://www.nytimes.com/2011/08/17/business/global/malaysia-looks-west-for-investments.html?

Malaysia Looks West for Investments

By MATTHEW SALTMARSH
Published: August 16, 2011

LONDON — With Europe’s economy mired in a debt crisis, governments in the region have been looking east for a helping hand, tapping the likes of China and Japan to buy their bonds and step up investments.

But at least one Asian country — Malaysia — still sees value in turning the opposite way, to enhance opportunities for its more assertive multinationals as well as bolstering investments from the West.

The Malaysian prime minister, Najib Razak, led a large official delegation last month to Britain via Turkmenistan, to capitalize on his country’s strong economy and investment inflows and assuage concerns about political agitation in the multicultural Southeast Asian country.

In past years, “it was just ‘please come to Malaysia,’ ” the trade minister, Mustapa Mohamed, said during an interview on the trip. “Now we are going to foreign countries to help provide access to Malaysian companies.”

Part of the sales pitch is selling the economic recovery story. The economy grew by 7.2 percent last year after shrinking 1.7 percent in 2009, and the government anticipates expansion of about 5 percent this year and next. The Malaysian inflation rate has been creeping up, though it remains moderate by global standards, at an annual rate of 3.5 percent in June.

But officials were also eager to ease potential concerns about the Malaysian political challenges.

“I think many investors have been to Malaysia, they understand the complications in Malaysia — multiracial, multireligious,” Mr. Mohamed said. “We need to have laws in place to ensure that things don’t get out of hand.”

The Coalition for Clean and Fair Elections, or Bersih, an amalgam of nongovernmental and activist groups, has pushed for changes in electoral law from the coalition government led by the United Malays National Organization, which has dominated politics since independence from Britain in 1957.

Bersih was declared illegal July 1, after which hundreds of activists were rounded up. Most of them were quickly released, but some were held longer. On July 9, thousands of protesters defied a government ban and held a large street protest, during which the police fired tear gas and water cannons and arrested about 1,700.

“We have to engage,” Mr. Mohamed said, “we have to continue changing, reform.”

Underneath the political tension is an economy that has proved increasingly attractive to overseas capital.

Nonequity foreign direct investment inflows in 2010 were $9.1 billion, according to the United Nations Conference on Trade and Development, up from $1.4 billion a year earlier. The government is confident that it can retain that momentum.

“It’s not having an impact on investor confidence,” Mr. Mohamed said of the recent disturbances.

Ian Bryson, an analyst in Singapore at Control Risks, a consulting firm, said that there was less political risk in Malaysia than most of its regional peers and that the country benefited from relatively low corruption and a fairly dependable judiciary.

“I don’t think the current political agitation is pivotal or that the country is at a tipping point,” he said. “Malaysians are not interested in a full-scale upheaval.”

“The opposition is factious but vociferous,” he said, adding that splinter, conservative groups from the United Malays group still had the potential to destabilize the governing coalition in the next election, which is expected to be called in 2013.

On the economic front, Mr. Bryson cited concerns about limits on equity ownership in certain sectors — favoring ethnic Malays known as Bumiputera — and the employment of foreigners. He also noted broader skills shortages and restrictive local hiring and firing rules. “It’s generally very open to business, but with some cultural and sociopolitical limitations,” he said.

A report from the World Bank’s private sector arm, the International Finance Corporation, ranked Malaysia 21st out of 183 economies globally for the ease of doing business. The country scored lower for starting businesses and enforcing contracts.

Among Malaysian companies seeking global opportunities is the energy group Petronas, which announced last month that it had drawn its first natural gas from a field in Turkmenistan, where it has invested $5 billion. Others include the automaker Proton, which controls Lotus, a maker of sports cars; and the utilities conglomerate YTL, which owns Wessex Water in Britain.

At home, the government has used its $25 billion sovereign wealth fund, Khazanah Nasional, to take strategic stakes in businesses, including the energy group Tenaga Nasional, Malaysia Airlines System and Bank Lippo. More recently, the fund has been making tentative forays into Singapore and Indonesia. It opened its first overseas office in Beijing in 2008.

Speaking in London, Mr. Najib, the prime minister, sought to address potential concerns like those highlighted by Mr. Bryson. The government, he said, is “committed toward divesting government holdings,” citing the sale of post office assets, two Petronas subsidies and a sugar business. “There will be quite a few more holdings that we will divest,” he added.

He said there had been a “policy of gradual liberalization” of Bumiputera quotas, and “in the forthcoming budget we are expected to make further announcements.”

European companies that have invested in the country include BP and Royal Dutch Shell in energy, HSBC and Standard Chartered in banking, the vacuum cleaner maker Dyson and the retailer Tesco.

Tesco has invested more than $1.5 billion in Malaysia and employs about 14,000 people in the country. In a report in April, marking 10 years in the country, the chief executive of Tesco Malaysia, Tjeerd Jegen, said that he was “as bullish as ever on the prospects of the Malaysian retail sector.”

He cited “continued economic growth and prosperity, buoyed by sound economic reforms, robust consumer confidence and political stability.”

Perhaps mindful of recent unrest in the Middle East and rising inflation in Asian economies like India and China, Malaysia has been quick to express its desire to stay on a steady course.

Mr. Najib said there was a “huge commitment by the government to keep prices as low as possible,” and there would be only a “gradual” easing of subsidies on food and fuel.

Appointed in 2009, Mr. Najib has initiated several economic plans to draw investment and address the lack of skilled workers in Malaysia, focusing on bolstering productivity and research, easing red tape for investors and improving inclusiveness.

The government is also seeking to fill its labor shortage by biometrically registering all workers and offering permits of a maximum 10 years for illegal workers.

“We’ll legalize them as workers, not as citizens; that would be a disaster,” Mr. Najib said. “If all those things are executed, God willing, we will be a fully developed nation. It will give us 6 percent growth that we need for the next 10 years.”

According to the government, one million Malaysians live abroad, a sizable proportion of the country’s population of 28.7 million. Some estimates peg the number of Malaysian nationals based overseas much higher. Singapore has been the biggest beneficiary of the outflow, attracting more than half of those who have emigrated.

Mr. Najib also said rising wages in China could present an opportunity for Malaysia.

“More and more people are beginning to realize they need a ‘China plus one’ policy,” he said, “They don’t want to put all their eggs in one basket.”

As a result, he said, “we’re seeing companies seriously looking at Malaysia.”

Offline zuolun

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Re: Coastal
« Reply #253 on: August 22, 2011, 08:48:42 AM »
http://www.reuters.com/article/2011/08/19/us-markets-volatility-technical-idUSTRE77I2SO20110819

Death Cross rocks Wall Street

By Rodrigo Campos

NEW YORK | Fri Aug 19, 2011 8:28am EDT

(Reuters) - Before the stormy trading of August, many stock investors probably thought "death cross" was the name of some heavy metal band.

But after a period in which the S&P 500 plunged more than 15 percent, daily trading volumes spiked by 70 percent and the United States lost its vaunted 'triple-A' rating, a death cross and other technical analysis terms are something investors have had to become increasingly familiar with.

For chartists and market technicians, the death cross is a strong bearish signal that indicates a major shift in trading momentum.

In the case of the S&P 500, a death cross occurs when the 50-day average for the index sinks below, or crosses over, its 200-day average. (Graphic: r.reuters.com/baq33s)

There was a time on Wall Street when many regarded technical analysis as something akin to voodoo economics, especially among stock pickers who specialized in fundamental research. But with algorithimic trading all the rage, it appears that cold and dispassionate technical market analysis is coming of age.

The recent market plunge which took the S&P 500 to about 1,100 is a prime of example of why more traders are looking to technical analysis for guidance. That's because many computer-driven trading programs are pegged to buy and sell stocks when certain market levels are breached.

"Computers fire off automatically; you don't have the time lag you'd have in normal decision making," says Marc Pado, U.S. technical market strategist at Cantor Fitzgerald & Co. "Clearly this is not stock picking (but) indiscriminate buying and selling."

Pado says the selling all started when the S&P 500 broke through the 200-day moving average and a support level of 1,250 on the index. He says, "that started the capitulation to the downside that we saw in the market overall."

The beauty (or flaw) of technical analysis is that it tells traders when to buy or sell without regard to corporate earnings or arguments over how to solve Europe's sovereign debt woes. So the silver lining of a precipitous drop in stocks is that it could be a signal for markets to go up.

"By selling off, the market is now discounting the bad news," said Carter Worth, chief market technician at Oppenheimer & Co in New York.

Another factor technical analysis focuses on is volatility and there has been a lot of that lately. In fact, one measure of volatility doubled in three days and on August 8, when the S&P 500 fell 6.66 percent, the volatility index closed at its highest level since the market bottomed in March 2009. (Graphic: r.reuters.com/qeq33s)

"It highlights how extreme, how one-sided it was," said Craig Peskin, co-head of technical analysis research at MF Global in New York, who noted that every stock in the S&P 500 declined on August 8. "Everyone was treating everything equally."

Some likened what they were seeing in the market to last year's flash crash, when the Dow Jones Industrials plunged nearly 1,000 points in 20 minute. Except this time, it appears to be a flash crash in slow motion.

"We were moving over a three and a half day period like we were during the flash crash, just more orderly," Peskin said. "It was totally irrational."

In fact, the week of August 8 was so extreme it even left some technical analysts scratching their heads at the unusual up and down trading. On August 9, stocks roared back, with the S&P 500 gaining 4.74 percent and almost wiping out the prior day's losses. Meanwhile, the Dow industrials would experience six days trading in swings of more than 400 points.

"I don't have an exact answer on how to label that pattern from a technical perspective because the volatility was so extreme," said MF Global's Peskin.

Many market participants say this volatility is not going to go away. It is a new normal that makes technical analysis a key rule of the game - even if some dismiss it as market astrology and don't want to play.

There are also new opportunities, if traders have the stomach and the correct analysis tools -- and know how to use them.

"High-frequency traders are moving the markets based on price action, based on momentum - they don't really care what they're trading," said Bill Stone, chief strategist for PNC Wealth Management.

"They don't care about intrinsic value, they care about some pattern. So you have days like last week where you get whipsawed 5 and 6 percent from day to day," he said. "Those days can be scary, but they are also your opportunity because they are driving (lower) companies that have no reason to be falling so far."

(Reporting by Rodrigo Campos; additional reporting by Lauren Tara LaCapra; Editing by Jennifer Ablan, Matthew Goldstein and Claudia Parsons)

Offline alvintan

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Re: Coastal
« Reply #254 on: August 22, 2011, 09:53:15 AM »
what those news about coastal ?

coastal should see technical rebound very soon

Offline idzuari

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Re: Coastal
« Reply #255 on: August 22, 2011, 10:10:48 AM »
what those news about coastal ?

coastal should see technical rebound very soon

Coastal was oversold for quite some time. now show bearish signal.
Doesn't matter bullish or bearish. Be happy & keep learning.

Offline zuolun

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Re: Coastal
« Reply #256 on: August 22, 2011, 12:00:35 PM »
what those news about coastal ?

coastal should see technical rebound very soon

Those news indicate poor market sentiment.

Coastal is a cyclical (oil-related) stock which is sensitive to business cycles and its performance is strongly tied to the overall economy.

Cyclical stocks

Cyclical stocks are counters that rise quickly when economic growth is strong and fall rapidly when growth slows down.

Offline zuolun

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Re: Coastal
« Reply #257 on: August 22, 2011, 12:31:05 PM »
Oil prices dive nearly $4 on demand fears, as equities dive

19-Aug-11, 2:20 AM | Agence France-Presse

LONDON - Crude oil prices sank nearly $4 on Thursday, after a fresh plunge in global stock markets, as traders fretted over warnings about a new vicious recession that could slam demand for energy.

New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in September, shed a hefty $3.84 to $83.74 a barrel.

Brent North Sea crude for October delivery dropped $2.85 to $107.75 a barrel in late afternoon deals.

Global stocks slumped Thursday as more weak data fuelled concern that the world was heading for another recession, and after the US Federal Reserve reportedly expressed concerns over European banks' liquidity.

Traders' screens were awash with red, as Madrid, Milan and Paris equities plunged more than 6.0 percent, while London, Paris and Zurich shed more than 5.0 percent in a panicky sell-off.

Wall Street plunged by about 4.0 percent in opening trade on Thursday after investment bank Morgan Stanley warned that the United States and Europe were teetering on the brink of a new recession.

"Our revised forecasts show the US and the euro area hovering dangerously close to recession," the US bank added in a new report which also slashed its growth forecasts.

The toxic cocktail of negative news sent gold flying to fresh records above $1,826 per ounce as investors sought the safe-haven precious metal, while oil slid even lower on worries about dwindling future demand for energy.

"We experienced another big sell-off in the global equity markets following fairly disappointing US economic data that currently weighs heavily in the oil market," said oil analyst Myrto Sokou at the Sucden brokerage in London.

"Crude oil prices have been under pressure amid ongoing concerns about lack of US oil demand.

"Following the gloomy macroeconomic picture and the recent big builds in oil supplies, we expect crude oil prices to extend recent losses, with potential for WTI to retest the $75-$80 level in the coming weeks."

Morgan Stanley meanwhile slashed its 2011 global growth estimate to 3.9 percent from 4.2 percent, and its 2012 forecast to 3.8 percent from 4.5 percent.

Adding to the market fears on Thursday, the US Federal Reserve Bank of Philadelphia said that manufacturing in the mid-Atlantic states took a sharp hit in August.

The bank said manufacturing activity "dipped significantly," lowering its index to negative 30.7 in August from positive 3.2 in July.

Data showing that new claims for US unemployment insurance rose last week also spooked investors. The figures showed new claims rose to 408,000 -- a gain of 9,000 from the previous week.

Offline zuolun

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Re: Coastal
« Reply #258 on: August 22, 2011, 06:40:17 PM »
Oil prices drop as Libyan rebels sweep into Tripoli

• Brent crude down $3 to $105

• Analysts believe Libya could soon resume oil exports

• European stock markets fight back after last week's falls

By Julia Kollewe
Monday 22 August 2011 10.59 BST

Oil prices dropped sharply on Monday after rebels swept into the heart of Tripoli, raising expectations that Libyan oil exports could resume soon.

As a battle raged at Muammar Gaddafi's complex in the Libyan capital, Brent crude dropped $3.47 to $105.15 a barrel, a fall of 3%, while US crude was down almost a dollar at $81.30, a 1% drop.

Analysts believe Libya could be pumping as much as 1m barrels a day within months, close to the pre-war figure of 1.6m – nearly 2% of global supply. Most of it flowed to European refiners, and the tightening of supply after Libyan exports stopped drove Brent crude to a two-year high of $127.02 in April.

Caroline Bain, an economist at the Economist Intelligence Unit, said: "Oil prices can be expected to fall further if Gaddafi is removed from power even though it will be some time before Libyan oil production resumes. We expect oil production to return to around 1m barrels a day within a year but there will be little additional output in the next couple of months.

"It could take two to three years before output in some of Libya's more mature fields is restored. However, the prospect of resumed output from Libya will remove some of the political risk premium in the oil price. The oil price has proved surprisingly resilient in the last couple of weeks, despite ongoing downgrades to the economic growth outlook in the US and eurozone. This was partly due to strong growth in demand in emerging markets, particularly in Asia, but also because of the perceived high political risk in the Middle East and North Africa region."

She added: "If political risk is easing, prices can be expected to move lower; the EIU expects oil prices to hover just above $100 per barrel in the fourth quarter of 2011 and to fall below US$100 per barrel in 2012."

The FTSE in London fell 40 points in early trading, taking the index briefly through 5000, before turning positive, trading more than 80 points higher at 5122. European markets also opened lower before staging a recovery, with France's CAC up 1.7% and Germany's Dax edging 0.3% higher. US stock futures indicate the Dow Jones will open nearly 70 points higher.

UK government bonds, known as gilts, tumbled as share prices recovered. The September gilt future lost 16 basis points.

"The possibility of a carbon copy of last week looms, with the mayhem of the previous week giving way to an eerie sense of calm," said strategists at Nomura.

The markets shrugged off comments from German chancellor Angela Merkel, who reiterated her opposition to issuing bonds backed by all eurozone countries on Sunday. "It will not be possible to solve the current crisis with euro bonds," she told ZDF television. She added that "politicians can't and won't simply run after the markets. The markets want to force us to do certain things. That we won't do. Politicians have to make sure that we're unassailable, that we can make policy for the people."

The German finance minister, Wolfgang Schäuble, echoed Merkel's comments, saying common debt would make it easier for governments to avoid pursuing responsible fiscal policies.

Asian markets were largely bathed in red, with the Nikkei in Tokyo losing 1%, but the Hang Seng in Hong Kong turned positive in late trading, inching 0.45% higher. There are growing expectations that Japan will intervene in currency markets to weaken the strong yen, and the dollar rose slightly against the yen to ¥76.70.

Earlier, investors scrambling for safe haven investments pushed spot gold prices to a new record of $1,894 an ounce. Platinum hit a three-year high at $1,895 an ounce amid global recession fears.

Citigroup upped its forecast for gold prices on Monday, saying investor appetite for gold had increased due to fears of another US recession following the S&P downgrade of the nation's debt, growing inflationary concerns and the eurozone's debt crisis. It sees gold prices averaging $1,650 an ounce next year and $1,500 the year after, compared with previous predictions of $1,325 for 2012 and $1,225 for 2013.

Citigroup also raised its price target on UK-listed gold miners such as Randgold Resources – which was the top riser on the FTSE on Monday – Centamin Egypt, European Goldfields and African Barrick Gold.

Markets are eagerly awaiting a speech from US Federal Reserve chairman Ben Bernanke on Friday in Jackson Hole, Wyoming. They will scrutinise his remarks for any hints on how America's central bank will tackle the worsening economic outlook and turmoil in financial markets.

Offline iiinvestsmart

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Re: Coastal
« Reply #259 on: August 23, 2011, 05:42:54 PM »
Market Watch
Recent Financial Results

Announcement
Date   Financial
Yr. End   Qtr   Period End   Revenue
RM '000   Profit/Lost
RM'000   EPS   Amended
23-Aug-11      31-Dec-11      2   30-Jun-11      233,849      46,611      12.86       -
27-May-11      31-Dec-11      1   31-Mar-11      155,830      56,092      15.48       -
23-Feb-11      31-Dec-10      4   31-Dec-10      203,403      55,663      15.36       -
19-Nov-10      31-Dec-10      3   30-Sep-10      192,091      53,634      14.80       -
24-Aug-10      31-Dec-10      2   30-Jun-10      138,619      48,275      13.32       -
It’s better to buy a wonderful company at fair price than a fair company at wonderful price.

1.  Understand the business
2.  Business must have DCA
3.  Management with integrity
4.  Buy at a sensible price

Big Fat Pitch.  Focus Investing.  Long term portfolio for capital appreciation and income.

Offline papayashot

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Re: Coastal
« Reply #260 on: August 23, 2011, 07:46:30 PM »
Market Watch
Recent Financial Results

Announcement
Date   Financial
Yr. End   Qtr   Period End   Revenue
RM '000   Profit/Lost
RM'000   EPS   Amended
23-Aug-11      31-Dec-11      2   30-Jun-11      233,849      46,611      12.86       -
27-May-11      31-Dec-11      1   31-Mar-11      155,830      56,092      15.48       -
23-Feb-11      31-Dec-10      4   31-Dec-10      203,403      55,663      15.36       -
19-Nov-10      31-Dec-10      3   30-Sep-10      192,091      53,634      14.80       -
24-Aug-10      31-Dec-10      2   30-Jun-10      138,619      48,275      13.32       -


The net profit drops although its revenue skyrockets...
Coastal claims that it is due to lower margin of vessel sales..

What you guys think? Why the margin of vessel suddenly go low, which is not mentioned before in the previous quarters??
In fact, what contribute to the lower margin??


Offline zuolun

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Re: Coastal
« Reply #261 on: August 26, 2011, 08:51:08 AM »
Company Name : COASTAL CONTRACTS BHD

Stock Name : COASTAL

Date Announced : 24/08/2011

Subject: COASTAL - NOTICE OF BOOK CLOSURE

Interim dividend of 21% tax exempt dividend equivalent to 4.2 sen per ordinary share in respect of the financial year ending 31 December 2011.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 8 September 2011 ]

2) The last date of lodgement : [ 12 September 2011 ]

3) Date Payable : [ 26 September 2011 ]

Offline iiinvestsmart

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Re: Coastal
« Reply #262 on: August 27, 2011, 07:04:44 AM »

Market Watch
Recent Financial Results

Announcement
Date   Financial
Yr. End   Qtr   Period End   Revenue
RM '000   Profit/Lost
RM'000   EPS   Amended
23-Aug-11      31-Dec-11      2   30-Jun-11      233,849      46,611      12.86       -
27-May-11      31-Dec-11      1   31-Mar-11      155,830      56,092      15.48       -
23-Feb-11      31-Dec-10      4   31-Dec-10      203,403      55,663      15.36       -
19-Nov-10      31-Dec-10      3   30-Sep-10      192,091      53,634      14.80       -
24-Aug-10      31-Dec-10      2   30-Jun-10      138,619      48,275      13.32       -

ttm-EPS 58.5 sen
Price $2.04
PE 3.5x


It’s better to buy a wonderful company at fair price than a fair company at wonderful price.

1.  Understand the business
2.  Business must have DCA
3.  Management with integrity
4.  Buy at a sensible price

Big Fat Pitch.  Focus Investing.  Long term portfolio for capital appreciation and income.

Offline zuolun

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Re: Coastal
« Reply #263 on: August 27, 2011, 10:36:24 AM »
Coastal enjoys higher profit of RM103m in H1

Aug 23, 2011

Coastal Contracts Bhd, a builder of offshore support vessels, reported a higher profit before tax of RM102.948 million for the six months ended June 30, 2011 compared with RM91.604 million previously.

Revenue for the period was also higher at RM389.679 million from RM279.761 million previously, the company said in a filing to Bursa Malaysia today.

The second quarter revenue of RM233.8 million, however, was the best quarterly revenue the company has ever recorded. This represented a 50 per cent increase from RM155.8 million in the previous quarter ended March 2011 and a surge of more than 68 per cent from RM138.6 million seen in the previous corresponding quarter, Coastal said in its filing to Bursa.

Profit before tax for the second quarter was RM47.3 million, which was 15 per cent lower compared to the RM55.6 million achieved in the first quarter 2011.

With the robust deepwater oilfield developments off the western coast of Sabah, Coastal said it is actively pursuing opportunities to diversify into the offshore structure fabrication business. -- Bernama

Offline zuolun

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Re: Coastal
« Reply #264 on: August 27, 2011, 11:20:17 AM »
Inventories
Inventories are stated at lower of cost and net realisable value. The cost of raw materials and
spare parts are determined using the weighted average method.  The cost of raw materials
comprises costs of purchase. The cost of finished goods and work-in-progress are determined
using specific identification of their individual costs.  The costs of finished goods and work-in-progress
comprise costs of raw materials, direct labour, other direct costs and appropriate proportions of
manufacturing overheads based on normal operating capacity. Net realisable value is the estimated
selling price in the ordinary course of business less the estimated costs of completion and the
estimated costs necessary to make the sale.

What is “Build and Sell” strategy?
Coastal is adopting a “Build and Sell” strategy which differs from other industry players
that build on contract basis such as Sealink. After having a discussions with Coastal’s
management, we notice the emergence of this strategy was due to the long lead-time for
the delivery of marine engines during 2006 and 2007. According to the management, if they
were to wait until they secure buyer’s order first then only source for the critical yard space and
machine, there is a risk that the different delivery timelines will mismatch. Thus, the “Build and
Sell” strategy has allowed the company to overcome the challenges associate with delivery
interface and able to secure orders from customers who require shorter time-to-delivery.
On the flip-side, we also realise that a prolonged slow down in the demand or oversupply of
OSVs will likely to lead to higher than expected stock-up and putting pressure on the working
capital management. However, the risk is mitigated by: 1) 30% of upfront payment from the
vessels buyers and 2) expected greater demand in OSVs due to the increase in deepwater
exploration activities.

“Build and Sell” strategy - A double-edged sword

Coastal's “Build and Sell” strategy produces some vessels for its inventory of finished goods. A prolonged slow down in the demand or oversupply of OSVs will indicate high inventory on its Balance Sheet; putting pressure on the working capital management

Offline Profit88

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Re: Coastal
« Reply #265 on: September 03, 2011, 05:43:15 PM »
For what it's worth in these uncertain times, Coastal made it into Forbes Asia's 'Best Under a Billion' list again  :clap:



"Life is a storm, my young friend. You will bask in the sunlight one moment, be shattered on the rocks the next. What makes you a man is what you do when that storm comes." — Alexandre Dumas

Offline ikan besar

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  • nia........mah.....when only the mkt going up
Re: Coastal
« Reply #266 on: September 03, 2011, 05:48:30 PM »
For what it's worth in these uncertain times, Coastal made it into Forbes Asia's 'Best Under a Billion' list again  :clap:

wah si per hor leow
ini counter mesti mahu jaga dia
ada free mau sang durian, chocolate, croc slipper and bah kwa.
what is the best price to masuk , dont mind sharing
what is the current price is it   rm1.80
I heard dr kimmy lost alot of monies

Offline zuolun

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Re: Coastal
« Reply #267 on: June 03, 2016, 11:03:43 AM »
COASTAL ~ Dead cat bounce, crucial support @ RM1.43

COASTAL closed with a white marubozu @ RM1.57 (+0.04, +2.6%) with 300,000 shares done on 2 Jun 2016.
 
Immediate support @ RM1.50, immediate resistance @ RM1.63.





COASTAL (weekly): Classic "mushroom-of-death"



一代过去,一代又来。地却永远长存。日头出来,日头落下,急归所出之地。风往南刮,又向北转,不住地旋转,而且返回转行原道。江河都往海里流,海却不满。江河从何处流,仍归何处……。已有的事,后必再有。已行的事,后必再行。日光之下并无新事。



COASTAL ~ Bearish bollinger band breakout

COASTAL closed at day's low with a black marubozu @ RM1.84 (-0.11, -5.6%) with 2.66m shares done on 14 Aug 2015.


Offline zuolun

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Re: Coastal
« Reply #268 on: March 20, 2017, 07:41:27 AM »
Nam Cheong's auditors cast doubt on company's ability to continue as going concern

17 Mar 2017

SINGAPORE: The independent auditors of Nam Cheong have issued a report indicating the existence of a material uncertainty exists that may cast doubt on company's ability to continue as going concern.

In a filing on Friday night, Nam Cheong announced BDO LLP, the independent auditors of offshore support vessels builder, have included an emphasis of matter with respect to material uncertainty related to going concern in their report related to the FY16 financial statements.

The auditors pointed out that for the financial year ended Dec 31 2016, the group posted a significant decrease in revenue and incurred a net loss of RM42.8 million ($13.5 million).

And as at Dec 31 2016, the group's loans and borrowings that were classified as current amounted to RM948.7 million of which RM278.6 million pertained to medium term notes that are due for repayment on August 28 2017.

These amounts exceeded the group's cash and cash equivalents of RM162.6 million as at Dec 31 2016.

"These events or conditions, along with other matters as set forth in the note, indicate that a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern," warned BDO.

Nam Cheong has bit hit hard by the fall in the price of oil from over US$100 per barrel in 2014 to around US$50 today.

The company also has had trouble generating cash flow from its business.

In the five years from 2011 to 2015, Nam Cheong had generated positive operating cash flow in only three years.

Moreover, the company's total operating cash flow in that five-year block had been a negative RM503 million.

Shares of Nam Cheong closed at 5 cents on Friday before the announcement.

Malaysia ranks top Offshore Support Vessels order country ~ 9 Mar 2017
https://www.cyprusshippingnews.com/archives/1160/malaysia-ranks-top-osv-order-country/

The total number of OSVs scheduled for delivery is 465, up from 139 last year, while the highest number ever recorded before was 396 in 2009.



The top is the Malaysian company Nam Cheong International LTD, who currently has 56 vessels scheduled for delivery. This is double the second rank, an another Malaysian company Coastal Contracts, who only has 28 OSV vessels on order.



Oversupplied OSV market facing record number of deliveries in 2017 ~ 8 Mar 2017
http://gcaptain.com/oversupplied-osv-market-facing-record-number-deliveries-2017/

Malaysian owners have the largest number of OSVs currently on order with 109 vessels, followed by Singapore (96); China (36); the United States (28); and United Arab Emirates (24).



New contracts for Malaysia's Coastal Contracts ~ 2 Mar 2016
http://www.oilpubs.com/oso/article.asp?v1=17926
As of tday'so date, the group’s orderbook is approximately RM2.77 billion. Of this, the vessel sales orderbook constitutes RM1.21 billion. The balance of the company's orderbook comprised RM1.56 billion for the group’s first jack-up gas compression service unit charter contract for Petroleos Mexicanos. All of the vessels are due to be delivered in 2016.

Investors beware – All may not be well at Nam Cheong Ltd

By Stanley Lim Peir Shenq
January 5, 2016

Offshore support vessels builder Nam Cheong Ltd (SGX: N4E) seems to have been hit hard by the sharp decline in the price of oil over the past year.

In the first nine months of 2015, Nam Cheong saw its revenue and profit record year-on-year falls of 50% and 81% to RM708 million and RM50 million, respectively. Meanwhile, the company’s operating cash flow for the same period also fell sharply from a negative RM20 million a year ago to a negative RM591 million.

Additionally, Nam Cheong’s accounts receivables and inventories had both grown. The former had jumped by 60% since the end of 2014 to RM780 million as at 30 September 2015 while the latter had increased by 57% to RM1.6 billion over the same timeframe. A situation of declining sales coupled with growing accounts receivables and inventories can be a yellow flag for more potential problems ahead.

That’s not all. Nam Cheong ended the third-quarter of 2015 with more than RM1.9 billion in debt. As the table below illustrates, the company’s net-debt (total borrowings minus total cash) to equity ratio has shot up from just 41.5% at the end of 2014 to 95.5% in the latest quarter.



All these financial troubles, likely due to tumbling oil prices, have pushed Nam Cheong to a situation where it is close to missing a financial covenant set by some of its creditors in that its interest coverage ratio shall not at any time be less than 3:1 (covenants are terms set by creditors that borrowers have to fulfill).

With its deteriorating financials over the past twelve months, Nam Cheong had launched a consent solicitation exercise this morning to seek consent from some of its bondholders to amend the aforementioned financial covenant. The company also hopes to get approval from the same set of bondholders to waive any non-compliance, or potential non-compliance, of the covenant for the test period ended 31 December 2015.

Although the solicitation exercise might not signify that Nam Cheong is facing any bankruptcy risk, it does show that the company is currently caught in a situation of having high debt but falling revenue which it did not anticipate previously. And for me, this says a lot about the risk management ability (or perhaps, lack thereof) of Nam Cheong’s management team.

There are other pressing issues at hand for Nam Cheong. If oil prices do not recover soon, the company may likely continue to produce negative free cash flow from its business. Moreever, even if the ongoing consent solicitation exercise is successful, Nam Cheong might still face serious refinancing risks going forward given that it has S$365 million worth of bonds coming due by 2019. These are things that both current and prospective investors in the shares and bonds of Nam Cheong may want to keep in mind.

Building billions with $3.40 ~ 11 Oct 2015
http://www.thestar.com.my/news/nation/2015/10/11/building-billions-with-340-sarawaks-tycoon-datuk-tiong-su-kouk-learned-from-a-young-age-that-wealth/
Sarawak’s tycoon Datuk Tiong Su Kouk ventured into boat-building some 40 years ago under the name Nam Cheong. Today, this Singapore-listed company is a leading global marine player and Malaysia’s largest builder of offshore support vessels (OSV).


Offline zuolun

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Re: Coastal
« Reply #269 on: March 31, 2017, 03:04:50 PM »
When a stock is in a bear-market territory, the last low will be retested and the share price will move much further down, forming a new record low.

COASTAL ~ Trading in a downward sloping channel, downside biased

COASTAL closed with a black marubozu unchanged @ RM1.31 with 330,000 shares done on 30 Mar 2017.
 
Immediate support @ RM1.26, immediate resistance @ RM1.34.



COASTAL ~ Dead cat bounce, crucial support @ RM1.43

COASTAL closed with a white marubozu @ RM1.57 (+0.04, +2.6%) with 300,000 shares done on 2 Jun 2016.
 
Immediate support @ RM1.50, immediate resistance @ RM1.63.



COASTAL ~ Bearish bollinger band breakout

COASTAL closed at day's low with a black marubozu @ RM1.84 (-0.11, -5.6%) with 2.66m shares done on 14 Aug 2015.



Marco Polo looks to Malaysian JV with Nam Cheong to find work ~ 8 Mar 2017
http://splash247.com/marco-polo-looks-malaysian-jv-nam-cheong-find-work/



The bull in China’s shop

January 4, 2017

If nothing is exacted, the sleepy Malaysian port of Pulau Pinang will spring to life if and when, China muscles through an ambitious S$2billion plan aimed at reviving it and its surrounding environs.

The project to begin in 2017  is backed by the Chinese investors Shenzhen Yantian Port Group Co and Rizhao Port Group Co in a joint venture with a local Malaysian company, KAJ Development. Much of the new port’s promise is to meet rising demand at other Malaysian ports and relieve congestion. It is hoped that the port could handle up to 100,000 ships annually; a figure to date was only accomplished by Singapore.

The new announcement comes on the heels of yet another major plan by Malaysia last year, to revive its slumbering shipbuilding industry which if and when it does come to pass, is the promise of some 55,000 jobs between now and 2020.Malaysia’s International Trade and Industry Ministry argues that shipbuilding revenue is is also sorely needed to pick up the slack following the fall in oil and commodity prices which the nation depended on heavily in the past to draw its keeps.

Not since the 1980s when Kuala Lumpur adopted its controversial cabotage policy – which it still retains against better counsel – has the nation turned its head to look at shipbuilding that either by accident or default has remained, too dormant for too long.

“The country (meaning Malaysia) is the right choice to invest in, as it has a promising future based on its strategic location, competitive cost, a skilled and talented workforce, advanced infrastructure and extensive trade agreements regionally and globally”, told the nation’s International Trade and Industry Minister, Datuk Seri Mustapa Mohamed eureka-like as if he was discovering a magic bullet on how to re-brand shipbuilding.

Though China has expertise in building ports, it may not be as legendary as how Singapore’s PSA International is, in managing ports across the globe. Port management means more than just planting stakes in a cleared out land filling. It means understanding the modern-day’s threat of cyber security to containers and port security, box turnaround when ships call, the ability to run unvarnished environmental impact assessment (EIA) audits and adherence to internationally sanctioned ISPO codes etc.  Though China does in all fairness, have experience in port building what it committed at the Sri Lankan port of Hambantotta has left her reeling and sometimes smarting.

Still to understand Malaysia  shipbuilding imperatives it becomes that much crucial where its comparative advantages lay. Resorting to the large-scale building of container vessels is tantamount to some self-imposed harakiri for the word across the world is that Malaysia will never stand a chance against the stronger Korean and Japanese yards.

If prescience was to have anything to do with business decisions, they ought not to tread where fools once had been but, instead head to what the angels are now seeking.

Out of a new narrative was the need to leverage on offshore craft arising not just out of prudence and accrued wisdom but also importantly of a razor-like business acumen to where it needs to turn its focus to.

The right focus within the subtext of the commercial imperatives for offshore craft is for, Malaysia to import large, ocean-going vessels it needs and just continue to focus on building and repairing small-medium size vessels.

Malaysian yards are noticeably small. With limited capacity there is none of that urge to head recklessly into building large ocean-going vessels and compound an already existing glut in global shipping capacity. Even so, as desperate as Malaysia may seem to want to sever all foreign links, the quality of its ship design skills may just hold it back into any kind of a brash, go-it-alone scheme.

There are just six large shipyards in the country with the biggest being MMHE. The remaining yards fanned out across the country take all of the nation’s yard holdings to 100.

But even with that, all eyes will be on SapuraKencana Petroleum Bhd and Nam Cheong, both of whom specialise in offshore craft. The latter recorded a record US$29million in revenue just solely for second quarter of 2016 says its website and counts itself as the second largest builder of OSV east of the Suez Canal.

Even as Malaysia’s plans may seem modestly grandiose for now, the largely overlooked question is the growing abundance of the US-inspired shale gas exports and what the larger stratagem of the Chinese interest and entreprise of their Chinese patrons truly are.

A major port in Pulau Pinang at the entrance of one of the world’s busiest waterways is by all means a noticeable game changer.

The larger question is why did China choose Pulau Pinang and not some of the strategically located Vietnamese ports like Van Phong or Cai Mep Thi Vai that are close to its borders than for it to vault over the South-East Asian landmass to finger out Pulau Pinang?

Like its port investments in Pakistan’s Gwadar, Myanmar’s Sitwe and Sri Lanka’s Hambantotta, there appears something larger than what meets the eye. Are these investments much about commercial imperatives or is there something else that is testing the waters of the Malacca Straits?

Offline zuolun

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Re: Coastal
« Reply #270 on: May 25, 2017, 08:14:20 AM »
Coastal Contracts 3Q net profit up 64% on improved margins

By Syahirah Syed Jaafar
May 24, 2017 23:47 pm MYT

KUALA LUMPUR: Coastal Contracts Bhd's net profit grew 64% to RM26.83 million in its third quarter ended March 31, 2017 (3QFY17), from RM16.37 million in the previous year, mainly due to higher margins from the sale of vessels.

Lower administrative expenses also contributed to the better profit, as well as higher income generated from the charter of its Jack-Up Gas Compression Service Unit or JUGCSU.

Revenue, however, fell 67% to RM64.74 million from RM198.70 million a year ago, mainly dragged by lower topline from its shipbuilding and ship repair division, which delivered two vessels during the quarter.

For its cumulative nine months, Coastal Contracts' net profit decreased 35% to RM34.86 million from RM53.45 million in the previous year, as revenue slumped 85% to RM199.30 million from RM1.29 billion.

On prospects, it said management believes the low oil prices environment is not sustainable and key industry players foresee a more positive outlook in the longer term where oil prices are expected to pick up from 2018 to 2020, making it essential for the offshore supply vessel market to gear up for this recovery.

"Additionally, given the scarcely substitutable nature of oil and natural gas, Coastal Group envisages the medium- to long-term fundamentals of oil and gas industry to remain positive.

"With the JUGCSU charter contract secured by the group, which is currently in operation, the group is able to effectively leverage its competitive advantage and strong foothold in this sector with promising prospects. Coastal Group is determined to build up its expertise and global network in this market to procure opportunities ahead," it added.

Coastal Contracts shares closed unchanged at RM1.36 today, with a market capitalisation of RM717.27 million.

Offline iiinvestsmart

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Re: Coastal
« Reply #271 on: May 25, 2017, 04:26:16 PM »
Its balance sheet is still good. :cash:
It’s better to buy a wonderful company at fair price than a fair company at wonderful price.

1.  Understand the business
2.  Business must have DCA
3.  Management with integrity
4.  Buy at a sensible price

Big Fat Pitch.  Focus Investing.  Long term portfolio for capital appreciation and income.

Offline zuolun

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Re: Coastal
« Reply #272 on: August 12, 2017, 06:20:28 AM »
Its balance sheet is still good. :cash:

When a stock is in a bear-market territory, the last low will be retested and the share price will move much further down, forming a new record low.

COASTAL ~ Trading in a downward sloping channel, TP RM0.90

COASTAL closed with a black marubozu @ RM1.16 (-0.05, -4.1%) with 506,000 shares done on 11 Aug 2017.



Coastal Contracts exceed expectations but market remains oversupplied ~ 26 May 2017
http://www.theborneopost.com/2017/05/26/coastal-contracts-exceed-expectations-but-market-remains-oversupplied/

COASTAL ~ Trading in a downward sloping channel, downside biased

COASTAL closed with a black marubozu unchanged @ RM1.31 with 330,000 shares done on 30 Mar 2017.
 

Offline zuolun

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Re: Coastal
« Reply #273 on: January 16, 2019, 05:18:39 PM »
When a stock is in a bear-market territory, the last low will be retested and the share price will move much further down, forming a new record low.

COASTAL ~ Trading in a downward sloping channel, TP RM0.55

COASTAL closed with a black marubozu @ RM0.82 (+0.005, +0.6%) with 140,000 shares done on 15 Jan 2019.

Immediate support @ RM0.80, immediate resistance @ RM0.89



COASTAL ~ Trading in a downward sloping channel, TP RM0.90

COASTAL closed with a black marubozu @ RM1.16 (-0.05, -4.1%) with 506,000 shares done on 11 Aug 2017.




Offline zuolun

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Re: Coastal
« Reply #274 on: June 02, 2019, 05:16:12 PM »
Following are some useful methods in technical analysis:
a. Trend analysis
b. Chart pattern analysis
c. Momentum analysis
d. Candlestick analysis

Why the 200d SMA is important:
The Simple Moving Average (SMA) is the average price of an asset over a certain period of time. It is calculated by adding up the closing prices over a certain number of time periods, and then dividing by that number of time periods. SMA’s are used to measure momentum. The most watched SMA is the 200 day, it is widely recognized as the dividing line between bull and bear territory. The primary trend is considered to be up as long as the market is trading above its 200-day moving average but this trend turns bearish whenever the market closes below this average.

COASTAL ~ Bearish Tower Top Breakout, interim TP RM0.735

COASTAL closed with a black marubozu @ RM0.98 (-0.015, -1.5%) with 43,900 shares done on 31 May 2019.

Immediate support @ RM0.97, immediate resistance @ RM1.00.



COASTAL (weekly) ~ Trading in a downward sloping channel, interim TP RM0.735