China Telecom Ltd (CHL) Message Board

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Strategies & Market Trends : China Telecom Ltd (CHL)

CHL 27.51

0.0%

Sep 27 4:00 PM EDT

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To: Julius Wong who wrote (101)	9/4/1998 10:52:00 AM
From: Cymeed	Read Replies (1) of 149

Despite the strong performance of CHL during the last few days, CHL is still trading below its 50 day moving average and has not broken the down trend started March 98 ever since it made its new high in the $40+. Besides, the recent gains are made when short selling is prohibited. So I would feel a little nervous to add any position here. I bought a very small amount of shares on its IPO day @$28 (IPO price $30.5) last October and then rode through the crash next Monday :o). However, I did sell them at a small profit later. So I have been looking to get back in now. But I am still waiting. If you already have CHL, it may be a good idea to ride it out. This company is reasonably priced now and its future is big. Personally, I don't believe in any Yuan devaluation in the short term and I aslo agree with many of your comments re HKMA's intervention. I think the authorities did a good job in defending the interest of HK and has effectively lowered the interest rate by sweeping speculative attacks away from HK, which should be beneficial to HK economy.

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