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Noble Grp – Light at the end of the tunnel?

Ok, Let’s start with the toughest counter. I realized that I just shake the hornet’s nest when I started mentioning Noble Grp. I received 6, SIX emails asking why I am so bearish about this counter, why I push the price lower, etc etc etc… You will not believe how passionate some of Noble Grp “investors” can be and why it is a good company to invest, Big Boys are buying, fair value, conspiracy theory…. Let’s just put it this way, I salute the passion…

Let me clarify, before I give my opinion on Noble Grp. I see charts and based on technical analysis, I give my opinions. I do not know Fundamental Analysis (FA), therefore I don’t know the fair value of a company. To me, Noble Grp is no different from DBS, or SGX, or KepCorp, or Libra. I do not have any passion for any company as from my previous experience, especially the last one, I know, loyalty does not pay. Therefore I would like to clarify:

  1. I do not and cannot caused a company to sell down as I just do not have that much funds to caused it to go lower. I wish I have, but unfortunately, I just do not have that much capital. However, I do know that Ruthless Belle promised me a 1 trillion rupiah cheque which I am still waiting… (by the way, how much is 1 trillion rupiah in Sing dollars???)
  2. I see chart based on TA. As long as the chart does not have bullish signals, I do not catch it. Bearish signals, I mention it. It does not mean that I will long or short all counter that I posted because it would not be fair to you. Imagine if I say I long A-Sonic (the first counter from A-Z in SGX list) first and then I tell everyone that I long A-Sonic so that everyone can push the price higher for me to take profits, that is just not right, right? I would mention if I long indices or currencies because there is no way anyone is that powerful enough to push it the direction I want it to go. Fair?
  3. I hope every retailer understand their position. Even if you own 100 lots of any counters, the company will not look after your own interest. Every company directors, CEO or chairman looks after theirs and company welfare and if you happen to be in the same direction, then you profited. They don’t bother about you. Maybe at the end of the year, they invite you to their AGM buffet dinner and send you a thick quarterly report for you to stack up your laptop higher. Either way, they do not specifically look after your personal interest as a priority. If they do, I would be worried about that company.

I hope that clarify my position. I am not your enemy. I am just trying to analyze the market and like you, trying to make some money out from the market.


Noble Grp

Noble Grp after falling over the last few days finally have a bullish candle today. Today it closed as a bullish engulfing, a very bullish candle indeed. This could be the bottom everyone is waiting for and it is also the fibonacci 61.8% acting as support. However do note that the confirmation candle is tomorrow (Wednesday) only if it closed above today’s candle. And do remember, there is a very big falling window above 1.285 which will act as future resistance. But if 1.055 short term support crack, the next support would be 0.90.


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