For November 11th 2009

For November 11th 2009

Questions and suggestions? Contact me at [email protected] Any information contained in this document are based on or derived from information generally available to the public from sources believed to be reliable. There’s no representation or warranty is made or implied that it is accurate or complete. Any opinions expressed are subject to change without notice. This post has been prepared solely for information purposes and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy. CFD charts were generated using MetaTrader 4.0 with price data obtained from Google Finance. Beta numbers are obtained from Reuters.com.

Nissan Motor Co., Ltd. (TYO:7201)

Beta: 1.41 Nissan remains unable to break through the resistance at 694 (76.4% retracement of the drop from 735 to 571) and has been in a see-saw pattern since last month. On the downside, we have an ascending trendline which could be the neckline of a head-and-shoulders pattern which, if confirmed, holds the potential of 200 points price trajectory from the neckline breaking point. At the earliest breakout, this points at 400. Numerous technical levels line up below the neckline: 593, 571, 554, 530, 507, 498, 442, and 429 while not many piling up at the upside: 694 and 735. Daily MACD is falling as well as the weekly MACD, and thus keep the bearish outlook for now while the price stays below 694. Short positions could be entered with stop set above 694 or for more tolerant traders, above 735. The objective would be at the neckline, then the listed support levels above.

MTR Corporation Ltd. (HKG:0066)

Beta: 0.83 Developing bearish divergence on the daily chart against the MACD implies pending bearish outlook on MTR. Tuesday’s candle was bearish despite it was considered as gaining on a closing basis. Still, it maintained the higher high and higher low pattern so far, so unless Tuesday’s low at 27.40 is broken, the current bias will be on the upside towards another attempt to break beyond 28.85. Such breakout will open a way towards 29.50 and later 30.55. Downside so far has been supported well by 25.85 with an addition of 26.50. Note that although Tuesday ended in a bearish candle, MACD is curling up. Stay bullish for now. Long entries could use either 26.50 or 25.85 as stop, while setting targets at 28.85, 29.50 and later 30.55. Below 25.85 will risk setback towards 25.10, 24.15 to as low as 20.95.

Bakrie Telecom Tbk. (JSX:BTEL)

Beta: 1.87 BTEL continued to retreat from the recent high at 124 (38.2% retracement of the fall from 165 to 99) and hit 112 on Tuesday. As the daily MACD starts to fall again the outlook is now bearish with the focus set at 99/101, the prior low and the intersection between 61.8% retracement level (50/183) and the zigzag equivalent projection (183-119-165). Should this time the price managed to slide below 99, a move towards 81 is to be expected. For the coming sessions, look to short with stop set above 124 and targets set at 99/101 first and later 81. Above 124 will indicate that the downside is likely to be over and that BTEL will climb to 132 and then 139. Afterwards, it would be just 165 and 183 to offer resistance on the upside.

Perusahaan Gas Negara Tbk. (JSX:PGAS)

Beta: 0.83 Having stuck between 3,825 and 3,475 made it difficult to trade PGAS at the moment except to utilize the buy near support sell near resistance strategy. This means taking short whenever the price approaches 3,825 and switching to long whenever the price approaches 3,475. Both should employ tight stop to avoid being dragged too far once the real breakout occurs. While the trading range remains intact, either stand aside or to use the range trading strategy mentioned above. Downside breakout will shift the attention to the 23.6% retracement (1,050/3,825) at 3,175 and 2,750 afterwards. On the upside, just above the 3,825 resistance lies 3,875, the 0.618x zigzag projection (3,175-3,825-3,475), with subsequent projection targets at 4,125 (1x) and 4,525 (1.618x). Once the trading range between 3,825 and 3,475, follow the breakout to aim for the designated supports and resistances. Note that daily MACD is declining and that a bearish divergence has been developing on the daily scale, so upside may be somewhat limited at the moment.

MARKET DATA – November 10th 2009 JAPAN - NIKKEI 225

Advantest Corp. Canon Inc. Daikin Industries Ltd. Honda Motor Co. Ltd Kyocera Corp Mitsubishi Estate Co. Ltd Nikon Corp Nippon Oil Corp Nippon Steel Corp Nissan Motor Co Ltd Sony Corp Sumitomo Metal Industries Ltd TDK Corp Tokyo Electron Ltd Toyota Motor Corp Nikkei 225

HONG KONG - HANG SENG INDEX

Bank of China Bank of Communications Bank of East Asia BOC Hongkong Ltd Cathay Pacific Air China Construction Bank Corp. China Life Insurance Company Ltd. China Merchants Holdings Co. Ltd. China Mobile China Overseas Land & Investment China Petroleum & Chemical Corp. China Resources Enterprise, Ltd. China Shenhua Energy Co. Ltd. China TelecomCorporation Ltd. CITIC Pacific Ltd. COSCO Pacific Ltd. Esprit Holdings Foxconn International Holdings Ltd. Hang Lung Properties Ltd. Henderson Land Development Co. Ltd. HK Electric Holdings Ltd. Hong Kong & China Gas Company Ltd. Hutchison Whampoa Ltd. Industrial & Commercial Bank of China Ltd. MTR Corporation Ltd. New World Development Company Ltd. PetroChina Company Ltd. Ping An Insurance Company of China Ltd. Sino Land Co. Ltd. Wharf Holdings Ltd. Hang Seng Index

Open 2,015 3,400 3,190 2,870 7,580 1,326 1,702 419 344 647 2,665 236 5,180 4,960 3,480 9,904.68

High 2,070 3,450 3,210 2,890 7,590 1,357 1,725 422 349 664 2,675 239 5,220 5,030 3,500 9,979.46

Low 1,994 3,400 3,140 2,840 7,360 1,320 1,682 413 341 644 2,610 234 5,090 4,950 3,390 9,857.10

Close 2,010 3,410 3,170 2,850 7,430 1,342 1,685 415 342 653 2,615 235 5,120 4,980 3,410 9,870.73

Prv Dy 1,981 3,380 3,130 2,830 7,520 1,319 1,672 416 338 642 2,615 234 5,110 4,860 3,500 9,808.99

Open High Low Close Prv Dy 4.80 4.84 4.75 4.77 4.71 10.00 10.04 9.81 9.83 9.82 29.45 29.45 28.65 29.00 29.20 19.10 19.18 18.80 18.96 18.86 12.90 13.10 12.84 12.94 12.86 7.07 7.14 7.01 7.04 6.98 39.45 39.45 38.15 38.45 38.50 26.00 26.70 25.90 26.05 25.35 73.90 74.05 73.10 73.45 73.35 17.80 17.86 17.00 17.26 17.30 6.98 7.00 6.71 6.73 6.82 27.60 27.65 26.45 26.70 26.95 39.20 39.40 38.00 38.45 38.55 3.59 3.60 3.51 3.54 3.56 20.60 20.80 20.20 20.30 20.35 11.30 11.38 10.84 11.02 11.10 54.50 54.50 53.00 53.15 53.20 7.15 7.15 6.75 6.78 7.09 30.10 30.30 29.80 30.30 30.15 56.50 56.70 56.25 56.30 56.15 42.00 42.00 41.60 41.85 41.60 18.50 18.50 18.26 18.38 18.26 54.95 54.95 54.35 54.65 54.10 6.84 6.86 6.66 6.72 6.66 27.90 27.95 27.40 27.65 27.50 17.12 17.30 16.76 17.12 17.12 10.32 10.32 10.04 10.12 10.02 73.60 73.70 71.95 72.80 71.35 15.04 15.08 14.56 14.78 14.82 44.50 45.40 44.20 45.25 43.60 22,556.56 22,556.56 21,941.62 22,268.16 22,207.55

Dy Chg 1.46% 0.89% 1.28% 0.71% -1.20% 1.74% 0.78% -0.24% 1.18% 1.71% 0.00% 0.43% 0.20% 2.47% -2.57% 0.63% Dy Chg 1.27% 0.10% -0.68% 0.53% 0.62% 0.86% -0.13% 2.76% 0.14% -0.23% -1.32% -0.93% -0.26% -0.56% -0.25% -0.72% -0.09% -4.37% 0.50% 0.27% 0.60% 0.66% 1.02% 0.90% 0.55% 0.00% 1.00% 2.03% -0.27% 3.78% 0.27%

Indonesia - Jakarta Stock Exchange

Astra Agro Lestari Tbk Adaro Energy Tbk Aneka Tambang (Persero) Tbk Astra International Tbk Bank Central Asia Tbk Bank Negara Indonesia Tbk Bank Rakyat Indonesia Tbk Bank Danamon Tbk Berlian Laju Tanker Tbk Bank Mandiri (Persero) Tbk Barito Pacific Tbk Bumi Serpong Damai Tbk Bakrie TelecomTbk Bumi Resources Tbk Central Proteinaprima Tbk Ciputra Property Tbk Bakrieland Development Tbk Indofood Sukses Makmur Tbk Indika Energy Tbk Indocement Tunggal Prakasa Tbk Indo Tambangraya Megah Tbk Jasa Marga (Persero) Tbk Kawasan Industri Jababeka Tbk Kalbe Farma Tbk Lippo Karawaci Tbk PP London Sumatera Tbk Medco Energi International Tbk Perusahaan Gas Negara Tbk Tambang Batubara Bukit Asam Holcim Indonesia Tbk Semen Gresik (Persero) Tbk Telekomunikasi Indonesia Tbk Truba AlamManunggal E. Tbk Bakrie Sumatra Plantations Tbk United Tractors Tbk JSX Composite

Open 22,359 1,560 2,350 32,100 4,775 1,920 7,550 4,575 690 4,775 1,380 790 121 2,325 68 290 290 3,100 2,175 12,200 23,600 1,840 129 1,320 630 7,800 2,675 3,700 14,800 1,610 7,450 8,750 128 690 15,900 2,406.74

High 22,550 1,570 2,350 32,250 4,800 1,930 7,550 4,600 690 4,775 1,380 800 121 2,350 68 290 290 3,125 2,200 12,200 23,600 1,840 130 1,330 630 7,950 2,675 3,725 14,800 1,640 7,450 8,850 128 700 15,900 2,432.34

Low 22,200 1,510 2,200 30,900 4,725 1,830 7,300 4,450 670 4,625 1,280 770 112 2,100 64 275 265 3,000 2,100 11,650 23,000 1,810 118 1,280 600 7,550 2,550 3,625 14,450 1,580 7,350 8,700 118 660 15,350 2,372.04

Close 22,200 1,510 2,200 31,050 4,750 1,850 7,350 4,475 670 4,625 1,300 780 115 2,150 65 280 270 3,050 2,125 11,750 23,000 1,820 119 1,290 630 7,600 2,575 3,675 14,500 1,580 7,350 8,750 120 670 15,500 2,381.96

Prv Dy 22,200 1,540 2,300 31,600 4,725 1,910 7,450 4,550 680 4,700 1,360 790 119 2,300 68 285 285 3,075 2,175 11,950 23,300 1,840 127 1,310 630 7,650 2,625 3,675 14,600 1,590 7,350 8,650 125 680 15,700 2,406.43

Dy Chg 0.00% -1.95% -4.35% -1.74% 0.53% -3.14% -1.34% -1.65% -1.47% -1.60% -4.41% -1.27% -3.36% -6.52% -4.41% -1.75% -5.26% -0.81% -2.30% -1.67% -1.29% -1.09% -6.30% -1.53% 0.00% -0.65% -1.90% 0.00% -0.68% -0.63% 0.00% 1.16% -4.00% -1.47% -1.27% -1.02%