This is a personal weblog, reflecting my personal views and not the views of anyone or any organization, which I may be affiliated to. All information provided here, including recommendations (if any), should be treated for informational purposes only. The author should not be held liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.
Thursday, November 04, 2010
Happy Diwali
I wish all my readers with Hindu beliefs a Happy Diwali. Diwali involves the lighting of small clay lamps (divas)filled with oil to signify the triumph of good over evil- an idea or a belief that everyone can relate with.
Happy holidays & hope you have a good rest over the long weekend.
I would like to seek your trading idea if one want to trade MEGB that dives after it breaks the earlier 2.80 & then the 2.60 support. I guess it must be pretty bad cause index is at 52 weeks high and this fellow is at all time low. Worst, this counter is suppose to be on the defensive side (education & healthcare). FA looks ok and CIMB even issues a 2nd buy days earlier. The only hint that we can gather from the bursa announcement right now is that the FMR LLC is selling at a lost. Stock closed at 2.40, off its intraday low of 2.30 on a relatively high volume on Thurs.. Do you look at stopping vol, reversal from 60 mins charts...
Hope you have a wonderful holiday. I watched Wall St2 over the weekend, and it is so true of what's happening now. With QE2, it looks set that there will be even greater bubble. I'm thinking the next sector to watch is oil and gas. What is your recommended stocks in this sector?
Hi Alex, what your opiniun on Scomien Share? I'm been looking on this share for quite some time and plan to invest on it. Please share with me what u think about this share cause I plan to get in at RM 1.00. Hope you could help me.Thanks :)
MEGB may have formed a temporary bottom after the recent sharp drop. This will go against technical rules that advise against catching a falling knife but it seems like the forces of supply & demand are well matched at RM2.30-2.40. If you choose to get in, you should do so slowly & with a protective stop at the recent low of RM2.25.
I don't want to comment on STAREIT. There is too much work & very little interest amongst my readers.
MAEMODE is a poor performer with very shaking financial position. As at 31/8/2010, its debts to equity is high at 1.5 times. While current ratio looks good at 1.4 times, the bulk of its assets is its trade debtors of RM353 mil. The trade debtors' collection period is extremely long at 295 days, which raised doubts on its quality.
Chartwise, Maemode is still in a downtrend line with resistance at RM0.60.
Based on negative technical outlook & poor financial position & performance, Maemode should be avoided.
Most of the oil and gas stocks have been played up. I would be at a loss to pick a stock that has not run up. However, if I put on my contrarian hat, I think KNM may be worth looking at. Take a look for yourself.
There is a big tussle going on in Petra. It is a no-hold barred fight which may color every action taken by the directors as well as the company. As such, I won't be surprise if the company's recent results were deliberately suppressed & the recent Rights Issue was undertaken to assist one party to gain control. In such an environment, the best way to be sure about the end game is by looking at the chart. You have to wait for the bottom to be completed before going in. There is a Malay saying which goes like this: "When the elephants fight, the mouse deer would be trembled".
12 comments:
Dear Alex,
Wishing you a great weekends.
Happy Diwali to Alex and Alex blog readers
happy diwali..tq for your meaningful guidance for me
Hi Alex,
Happy holidays & hope you have a good rest over the long weekend.
I would like to seek your trading idea if one want to trade MEGB that dives after it breaks the earlier 2.80 & then the 2.60 support. I guess it must be pretty bad cause index is at 52 weeks high and this fellow is at all time low. Worst, this counter is suppose to be on the defensive side (education & healthcare). FA looks ok and CIMB even issues a 2nd buy days earlier. The only hint that we can gather from the bursa announcement right now is that the FMR LLC is selling at a lost. Stock closed at 2.40, off its intraday low of 2.30 on a relatively high volume on Thurs.. Do you look at stopping vol, reversal from 60 mins charts...
Thank you.
Hi Alex,
I'm newbie on stock market. I need some opinion before i dive in. Hope can get some guidance from you.
May i know what's your opinion about STAREIT and MAEMODE?
What's your trading idea about this two stocks?
hi Alex,
Hope you have a wonderful holiday. I watched Wall St2 over the weekend, and it is so true of what's happening now. With QE2, it looks set that there will be even greater bubble.
I'm thinking the next sector to watch is oil and gas. What is your recommended stocks in this sector?
thanks
maxwealth88
Hi Alex, what your opiniun on Scomien Share? I'm been looking on this share for quite some time and plan to invest on it. Please share with me what u think about this share cause I plan to get in at RM 1.00. Hope you could help me.Thanks :)
Hi alex, any comment from FA perception on petra due to recent large volume ? Time to purchase ?
Hi David Ng
MEGB may have formed a temporary bottom after the recent sharp drop. This will go against technical rules that advise against catching a falling knife but it seems like the forces of supply & demand are well matched at RM2.30-2.40. If you choose to get in, you should do so slowly & with a protective stop at the recent low of RM2.25.
Hi OscillO
I don't want to comment on STAREIT. There is too much work & very little interest amongst my readers.
MAEMODE is a poor performer with very shaking financial position. As at 31/8/2010, its debts to equity is high at 1.5 times. While current ratio looks good at 1.4 times, the bulk of its assets is its trade debtors of RM353 mil. The trade debtors' collection period is extremely long at 295 days, which raised doubts on its quality.
Chartwise, Maemode is still in a downtrend line with resistance at RM0.60.
Based on negative technical outlook & poor financial position & performance, Maemode should be avoided.
Hi MaxWealth88
Most of the oil and gas stocks have been played up. I would be at a loss to pick a stock that has not run up. However, if I put on my contrarian hat, I think KNM may be worth looking at. Take a look for yourself.
Hi cheer
There is a big tussle going on in Petra. It is a no-hold barred fight which may color every action taken by the directors as well as the company. As such, I won't be surprise if the company's recent results were deliberately suppressed & the recent Rights Issue was undertaken to assist one party to gain control. In such an environment, the best way to be sure about the end game is by looking at the chart. You have to wait for the bottom to be completed before going in. There is a Malay saying which goes like this: "When the elephants fight, the mouse deer would be trembled".
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