For November 12th 2009

For November 12th 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.

Nikon Corporation (TYO:7731)

Beta: 1.58 So far, Nikon had retraced nearly 50% of its rally from 843 low to 2010 at 1442 while this retracement had been retraced 61.8% at 1795. Subsequently, the swing itself (1442/1795) had been retraced 50% at 1613. Now, at 1729, Nikon seems to aim for a breach of 1795 high, setting up a move towards 1966, the equivalent projection of the swing 1442-1795-1613. This could form a flat correction pattern between 2010 and 1442 later on. Supports are now at 1613, 1577, 1525 and 1442/1431; while resistances are lining up at 1795, 1830, 1966, and 2010. With its daily MACD curling up at the moment, the bias is currently up, with 1613 being the pivotal support. Upside objectives however, should be limited up to 1966 since it is still unclear whether this structure will be of flat correction or another impulse move upwards beyond 2010. As the price nears 2010, it would be better to be cautious. At the same time, we cannot rule out a downside breakout scenario as well which if Nikon to fall below 1431, it could slide deeper towards 1290. Furthermore, if we consider what we see on the daily chart as a potential head-and-shoulders pattern in progress with the neckline at 1431, a realization of the pattern could lead to nearly 600 points decline from 1431, and this immediately points at a revisit of 843 low.

Hang Lung Properties Ltd. (HKG:0101)

Beta: 1.00 Persistently dashing upwards, Hang Lung is now attempting to breach its prior peak at 32.20 after it got knocked off from the high and fell towards 28.15 recently. At the moment, I do not see a bearish factor to set the bias downwards. With its daily MACD curling up again, it seems that the stock is poised for a move beyond 32.20. Resistances above 32.20 are clustering around 32.5132.84 and 33.81-34.03. Supports are at each turning point at 28.15, 26.30, 22.40 and 22.00. Maintain bullish stance while above 28.15, with objectives set at 32.20, 32.51/84, and later 33.81/34.03.

Bank Mandiri (Persero) Tbk. (JSX:BMRI)

Beta: 1.32 BMRI had retraced 100% of its fall from 8700 to 2400, forming a V-pattern and subsequently retreated to as low as 6800 as seen on its weekly chart. Its MACD also declining on the weekly scale, but it is rising on the daily scale. Although MACDs are mixed, the rally off 2400 might have been of 5-leg up, with the current leg as the fourth. If this is the case, then the stock may fall towards 6350/6300 area where projection and retracement levels clustered. Beyond that, we have 5550/5650 as well as support area. Upside, the resistances come in at 7500, 7750, and 7950. The initial attempt to rally past 7500 has been denied, but as long as 6800 holds, the risk of another attempt upwards cannot be ruled out. A bearish harami on the weekly, and repeated failures to clear 7500 suggests that the taking a short position should be a better choice at the moment. Stop should be set at max of 7950, but 7750 may be sufficient at the moment.

Barito Pacific Tbk (JSX:BRPT)

Beta: 2.08 Another rather odd-looking chart, BRPT has been stuck between 1600-1280 recently. Judging from common patterns of same-high and same-low bars/candles, a range trading would be a more reasonable strategy to use. Here, as we are near the low at 1280, taking a LONG position with stop below 1280 or at the most, 1140, will be more attractive from the risk-to-reward ratio perspective. Should later the price approaches 1600 again, exit the LONG and reverse to SELL with stop set above 1600 or up to 1720. Thus, as long as trading range between 1280 and 1600 is intact, look to use range-trading strategy. Once one of the extremes is broken, look for follow through move (upward break means taking LONG positions, for example) with stop set at the other extreme’s level. Note that the rally from 330 had formed a 5-legged structure, which could mean that at least a 38.2% retracement is to be expected. So, the current range-trading strategy may not hold for long and that it is likely that the price will fall again later when the bearish pressure returns.

MARKET DATA – November 11th 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 1,981 3,420 3,300 2,840 7,430 1,334 1,715 408 342 656 2,595 236 5,100 4,930 3,380 9,890.18

High 2,000 3,460 3,310 2,870 7,490 1,358 1,744 408 343 671 2,615 237 5,190 4,990 3,470 9,949.71

Low 1,957 3,410 3,240 2,835 7,400 1,334 1,715 398 337 650 2,570 233 5,100 4,830 3,370 9,849.99

Close 1,975 3,430 3,250 2,855 7,400 1,340 1,729 399 338 653 2,590 233 5,140 4,880 3,430 9,871.68

Prv Dy 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

Open High Low Close Prv Dy 4.81 4.81 4.75 4.79 4.77 9.92 9.99 9.71 9.83 9.83 29.35 34.10 29.10 33.45 29.00 19.00 19.60 18.96 19.56 18.96 13.02 13.18 13.02 13.12 12.94 7.08 7.12 7.03 7.11 7.04 38.70 39.15 38.55 38.95 38.45 26.05 26.80 26.00 26.70 26.05 73.50 75.55 73.45 75.55 73.45 17.24 17.38 17.00 17.22 17.26 6.80 6.90 6.74 6.90 6.73 26.80 27.10 26.60 26.85 26.70 38.45 38.85 37.95 38.40 38.45 3.55 3.60 3.50 3.59 3.54 20.40 20.55 20.10 20.35 20.30 11.12 11.20 11.02 11.18 11.02 54.00 54.00 52.80 53.00 53.15 6.80 6.80 6.58 6.69 6.78 30.20 30.95 30.10 30.70 30.30 56.55 56.70 55.95 56.50 56.30 41.90 42.00 41.60 41.85 41.85 18.32 18.56 18.32 18.50 18.38 55.00 55.40 54.65 55.30 54.65 6.80 6.83 6.72 6.78 6.72 27.85 27.85 27.25 27.40 27.65 17.28 17.28 16.76 16.94 17.12 10.24 10.24 10.02 10.12 10.12 72.55 73.20 71.55 72.35 72.80 14.90 14.90 14.56 14.80 14.78 45.00 45.00 43.45 43.60 45.25 22,534.14 22,643.66 22,200.24 22,627.21 22,268.16

Dy Chg -1.74% 0.59% 2.52% 0.18% -0.40% -0.15% 2.61% -3.86% -1.17% 0.00% -0.96% -0.85% 0.39% -2.01% 0.59% 0.01% Dy Chg 0.42% 0.00% 15.34% 3.16% 1.39% 0.99% 1.30% 2.50% 2.86% -0.23% 2.53% 0.56% -0.13% 1.41% 0.25% 1.45% -0.28% -1.33% 1.32% 0.36% 0.00% 0.65% 1.19% 0.89% -0.90% -1.05% 0.00% -0.62% 0.14% -3.65% 1.61%

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 22,200 1,520 2,250 31,300 4,750 1,850 7,350 4,450 680 4,600 1,310 780 114 2,150 64 280 270 3,075 2,125 11,800 23,400 1,830 120 1,300 620 7,650 2,575 3,675 14,550 1,590 7,300 8,750 122 670 15,400 2,382.58

High 22,350 1,560 2,275 31,750 4,775 1,880 7,400 4,500 690 4,675 1,350 790 135 2,450 68 280 290 3,100 2,175 11,950 24,650 1,860 125 1,310 620 7,800 2,650 3,700 14,800 1,600 7,350 8,900 127 720 16,000 2,419.91

Low 21,900 1,510 2,175 31,000 4,700 1,840 7,200 4,425 670 4,575 1,300 770 114 2,150 64 270 270 3,050 2,100 11,350 23,300 1,810 119 1,280 610 7,600 2,575 3,625 14,500 1,570 7,150 8,750 121 670 15,400 2,380.27

Close 22,200 1,550 2,250 31,000 4,700 1,880 7,350 4,450 690 4,650 1,350 790 134 2,425 67 280 290 3,100 2,175 11,350 24,600 1,840 125 1,300 620 7,750 2,625 3,675 14,700 1,590 7,150 8,750 125 710 15,900 2,403.88

Prv Dy 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

Dy Chg 0.00% 2.65% 2.27% -0.16% -1.05% 1.62% 0.00% -0.56% 2.99% 0.54% 3.85% 1.28% 16.52% 12.79% 3.08% 0.00% 7.41% 1.64% 2.35% -3.40% 6.96% 1.10% 5.04% 0.78% -1.59% 1.97% 1.94% 0.00% 1.38% 0.63% -2.72% 0.00% 4.17% 5.97% 2.58% 0.92%