The question on everyone is asking is what the hell happened to the market over the last three days? Suddenly, it went to sleep, its like all the syndicates went to play golf. OK, that is not a fair comment but the market momentum kinda got sucked out for no apparent reason. There is no bad market news, nothing politically negative. Ask a remisier or dealer they will dig deep to give you an answer, and that answer will be "Aiyah, investors pulling out money from the market la for CNY".
What kind of b.s. reasoning is that? Is this the first year we are having CNY?? It seems to me that its a healthy correction but nobody seems to think it is one. We see popular stocks dropping 2-3% a day, nothing major, we see volume on popular stocks dropping by 50% or more, but nothing major. If you check back to volume traded last week, it was quite substantive. The fact that we are seeing only mild pullback now is a great bullish sign.
If one still has fresh funds, getting back in now is a good idea. Recent new listings are very interesting, but was thwarted somewhat by the slowish market. There was Tambun, Benelac and KSS. Herein lies the key, look at Benelac, the stock has very good fundamentals, the first day saw a good day but not spectacular. The sluggish market overall caused many shares to come out. However, it rebounded very well on second day and I think its a RM1.60 stock anyway.
Tambun I am not so keen. I am very keen on KSS. I see it having the same trend as Benelac, first day was mainly collection. Watch KSS for its second and third day, I see the stock at 75 sen minimum as fair value.
10 comments:
Looks like everyone has cashed out to fill up their ang-pows!
Ouch!!
"The fact that we are seeing only mild pullback now is a great bullish sign."
Great, I am waiting for such a confirmation.
For the past few years here in mainland Penang,Tambun Indah Group had built a reputation as a luxury residential developer.Their famous projects are Tambun Indah and Juru Height and mostly people in the mainland Penang are aware of it.
This group have the potential to go higher....by the way,I do not own any shares or related to this company....
If good news still move mkt south, isn't it time to S---! -E-L! --LL!
Wonder who cried wolf and boo?
Just saving an arm and leg for another day.
The weather also suddenly change. From unusually cold to usual CNY hot and dry.
Dali,
It is rather sad and disappointing to see you creating a joke on another professional and criticise him. I don't know at what point a remisier had offended you but isn't it good to say some kind words than play down on other people and try to glorify yourself...I know, i know ,,you will say it again ..this is my blog,if you don't like you can FO...anyway, just a reminder : be kind and humble ,you'll be much appreciated.
People pulling out more money this year for CNY since everything is getting more expensive? Our inflation rate is getting higher year by year with the "normalization" of subsidies.
CNY really came early. All the prices are "ang ang" now. Hahaha...
The CNY reason, is just a polite way to say market is going for a correction right now. Say it out loud " CORRECTION "..it will change everybody's mood right Dali?
SC,
aiyoh, why so sensitive ... u must be a remiser ... its just a reference point ... like that cannot comment on anything, any profession sure to have their idiots ... like that cannot comment on politicians, doctors, lawyers...
in fact, many remisers and dealers are my best friends ... and many do read the blog ... its a passing comment la...
; )
Post a Comment