Monday, August 1, 2016

Nam Cheong: Down by 38.8% since April with a CFD SELL call..... is it cheap?

Have sent another email on Nam Cheong last week after the Swiber saga when it was at 0.073….

And indeed a further breakdown below the 0.070 support on Friday and more selling today with a new low again…

Now at 0.059…

The first CFD SELL call was issued on 5th April morning actually at a price of 0.098 (See below email)….

That was when the key 0.100 psychological support broke down….

I remembered some of my clients asking me then if they could buy because it was so cheap already....

This is clearly a case of “Cheap can become Cheaper”….. there is always a reason for being cheap in the market I guess,

And we never like to buy cheap things, we love to SHORT cheap things instead….

Since then, it has traded down by another 38.8%.....

Is it still cheap now for you ???


Recent Emails:

Sent: Thursday, July 28, 2016 10:19 AM
Subject: *********** Nam Cheong: Heading towards a new low at 0.070 support next... price 0.073
Nam Cheong has traded lower over the past few days with it breaking below the 0.075 support again. Likely to test the 0.070 support next with the downtrend firming up again. Longer term moving averages are still pointing lower and no reversal in sight yet as long as 0.080 is a resistance now. A further breakdown below 0.070 can see more selling towards 0.060 then 0.050 where one can ride more CFD SELL positions…. Cautious long…  downtrend intact below 0.075

Sent: Monday, April 25, 2016 10:28 AM
Subject: **************** Nam Cheong: Still below the 0.100 resistance ,downtrend intact, may test 0.090 support next, cautious on further breakdown., price 0.095

Sent: Tuesday, April 05, 2016 9:30 AM
Subject: **************** Nam Cheong: Breakdown below 0.100 can see more weakness, price 0.098

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