View of The Day: 13 Hutchison Whampoa

Now we have a lot of stocks that have come to a point that we can seriously look at a good rebound. 20667 Nomura-Hutchison Whampoa Call is one. I am comfortable with it which closed at $ 0.036 (26 May). A good range for profit may be found from this standpoint.

View of The Day: 13 Hutchison Whampoa

Now it's no. 13's turn. 13 Hutchison Whampoa closed at $ 52.05, down 1.4%, on Friday (14 May). It is about time that we wait for a nice rebound.

Let's pick a couple of Calls: 20667 Nomura and 21185 Societe Generale.

Personally I prefer 20667 given it's longer expiration date, having considered other factors.

The strategy for me is to see if price can come down closer to the lower band (Bollinger's). If not, and RSI is not supportive of a buy, then I will not go in.

View of The Day: 18999 海油滙豐零一零購 (認購證)

883 CNOOC followed the market rebound, closing 3.302% higher to $ 13.14% today. Most (not all) of the indicators still show that it is oversold. MACD indicates a correction and a likely rebound.

I recommend we look at 18999 HSBC-CNOOC Call.

Closing today at $ 0.073 and expiring 22 Oct 2010, it has room to go up and time to wait. Turnover suddenly soared to 74.94 m, indicating people are paying attention to it. At close to 7x leverage, this call appears to be a good buy at the moment. I think around $ 0.065-0.07 seem acceptable. Let's see how it goes in the coming 7 days.

Source: ET Net; 18999


833: CNOOC

香港精神

拜讀王迪詩小姐今天(8 May 2010)的大作。我以為自己就是王迪詩。王迪詩於我就像是Fight Club裡的Edward Norton的另一面Tyler Durden（畢比特飾演）。是否王迪詩就是我的Tyler Durden？每天晚上，我以王迪詩的身份跟一班信徒說：“This is fight club. You have to fight.”？

王小姐寫道：「事無大小都佔一番便宜，是香港人的強項。黃福榮在玉樹地震中為了救人而喪生，特區政府的高官稱讚他彰顯了「香港精神」。請問有多少香港人會像黃福 榮，願意丟下工作和舒適的生活，老遠跑去玉樹做義工？去街口間老人院做義工也未必會吧！又有多少香港人會願意用自己的生命，去換取別人的生命？我王迪詩貪 生怕死，貪慕虛榮，但我還有點自知之明。黃福榮彰顯了人類的普世價值，但那不是「香港精神」。

「任何人做了有光可沾的事，馬上會被屈成「香港精神」。高錕得了諾貝爾獎，是「香港精神」；電影《歲月神偷》得了獎，又是「香港精神」；黃福榮捐盡筆生積蓄，從香港行路上北京為骨髓病人籌款，生前是 「傻仔」，死後是「英雄」。說黃福榮彰顯了「香港精神」，是貶低了黃福榮。特區政府的高官不應表揚黃福榮，你們應該表揚自己，最能彰顯「香港精神」的是你們這班高官，事無大小都去佔一番便宜，向死人抽水。」

我同意，黃福榮彰顯的不是「香港精神」。除了事無大小都去佔一番便宜，向死人抽水之外，還有甚麼是「當代香港精神」？只有權利，沒有義務惡霸的精神（看地鐵，巴士，酒樓裡大聲說話的男男女女）。見高拜，見低踩的賤奴精神（看向傭人呼呼喝喝但對有錢的必恭必敬的女主人，男經理，Vice President，Managing Director）。喝紅酒，腦空虛的廢人精神（看中環那班穿著華麗的行屍走肉）。貪心的餓鬼精神（看官員媚富的行為）。

香港豈非只有餓鬼賤奴，沒有「人」了嗎（人之所以為人，是因為人性有仁。因此沒仁非人。）？非也。香港大有人在。但他們不是彰顯「香港精神」。王小姐說得對。那些香港人的價值是人類的高級普世價值。

高級普世價值是客觀的，放於普世有效的。為甚麼我以為自己就是王迪詩？正是因為普世價值。就如V for Vendetta（V煞） 的結局般，每一個人都帶著V煞的面具。每一個人都是V煞，心裡面的是同一樣的價值，同一樣的精神，自然，都就走同一條路。

這跟「香港精神」完全沾不上邊。相反，高貴的人文精神正是「香港精神」的反面。舉例說，香港官員媚富輕貧；人文精神「見大人則藐之」（孟子），即是說見到重要的人物則輕視他。我想孟子的意思是不需要因為那個人是重要的人物，大人物，富有的人，就要重視他。

在香港這種餓鬼道蓄牲道的地獄，講人文精神，普世價值原則上是不可能的。我們要講，到其他地方吧，到一個充滿活力的黃金國度。讓餓鬼蓄牲繼續留下來舔那些食物（及金錢、地位、名氣 等等），但永遠吞不下咽吧。

View of The Day: 18893 中油法巴零十一購 (認購證)

I really hope the HSBC call pays off (21317 BNP-Paribas-HSBC Call).

Now, let's check out some energy co. I think the upside far outweighs the downside for this BNP Paribas-PetroChina call (18893), closing at $ 0.046, down 17+% today. 857 PetroChina came down quite a bit (closing $ 8.72, down over 3% overnight) in response to the general correction in the market as well as news of falling crude oil price overnight. It is a calculated bet. 18893 expirs Nov 2010 with implied volatility and leverage of 36% and 7.7% respectively. Turnover as at 5 May was 60.12 m shares.

Source: ET Net; 857 PetroChina

View of The Day: Warrants on 941: China Mobile

I believe while in the medium term (6 months), 941 China Mobile should still be on a downtrend, it does not rule out short-term rebound so I suggest:

Pick a few calls and once it rebounds and then we buy puts and take advantage of the gravitational pull. See my list below.

There're technical grounds on which I make the above conclusion but conventional wisdom also says Sell in May and Go Away. Worth listening to it.

Calls:
16342 Macquarie
19134 BA-Merill Lynch
20047 BNP
21526 Macquarie

Puts:
19136 BA-Merill Lynch
19230 Credit Suisse
20493 HSBC

Happy Investing!