Wednesday, February 28, 2007


If yesterday was a bloodbath, today was a least for the first half session, panic selling everywhere, price open gap down. It's like the bear just coming out of his winter hibernation, all hungry eating everyone insight. This is the first time I see a 100 points decline.

But many counters were really off their lows. The seller sells as if Armageddon, the buyer buys as if it is the great Mega Sale. The result is very long shadow candle. Since Shanghai rebounded, we should also have one tomorrow. All those massive T+3 volume of 4.7 million shares has passed us. Anyway, confidence has been shaken, so if the bull going to continue charging, it will need a few months to overcome this experience.

Today, I only pick up one counter which is Masteel. The reason is that Hong Leong group has emerge as a substantial holder in this company. Masteel should announce their result today, but Bursa website is so jam up at this moment (6pm) that I can't access the result. Let's hope my risk taking will be rewarded tomorrow.

Tuesday, February 27, 2007


Wah lau eh, in 5 years of investing in KLSE, this is the first time I see a 50 points decline in one day. At the close, KLSE still closes down 35 points. FYI, this is not a record, a check through the last bull shows that the record is around 70 points. After all those bullish comments, you suddenly find that part of your wealth atomized.

Of course I'm not spared also. I manage to reduce my holdings in L&G last week, sold out Titan yesterday, got out of Oilcorp today. Unfortunately, I added a little bit on Astro-CB and Masteel. For the rest, the price are just a few cents above my stop loss. Strangely, I do not feel any stress. No panic in me yet.

Well, if my intepretation is correct, the penny shares have just completed Wave 1 of EW, so look out for the end of Wave 2 (62 to 50% retracement) because the Wave 3 reward will be tremendous. Look out for the support at 1200. If cannot hold, then bye bye liao. So what will be the next "reason" to push up the price?

Monday, February 26, 2007

See U at 1300?

Everyone is very bullish. OSK says see you at 1300. But today's chart action tells otherwise. Everyone expecting Telekom to push up the index but instead, the reverse occurs.

Looking at the daily chart, one can detect bearish divergence. So how do I interpret it? I think that weakness is coming. If the index bounce off from 1267, then uptrend intact....but if it closes below, then expect correction to the region of 1200 to 1230. Does it mean general weakness or only bluechips? Maybe rotational play for penny shares?

Anyhow, don't go into panic buying mode (many gaps up). Wait for the right moment when the volume is low and the support still holds.

Stalking: Media

Consolidation since Dec 2006. Making a new base at RM2.50 region. Approaching the uptrend support line. A break above will mean the resumption of uptrend. If not, then no more play.

I still hold the Media-WA that I bought at 0.80 region. Will add if it moves.

Sunday, February 25, 2007

What to buy?

If you ask me what to buy, do you also ask me what to sell? Buying comes natural to us because we are always consumers. Always looking to buy something. No wonder our home will be filled with new junk as soon as you cleared the old one.

My strategy now is to concentrate on the number of counters that I will play. Let's see, my system tells me that 621 counters are bullish based on monthly chart, 788 counters based on weekly and 913 based on daily. It's very hard not to pick a winner now.

Anyway, Astro is moving to challenge it's previous high of 5.80. Weekly chart says it is not yet overbought. It should have no problem of breaking this. Astro-CB will be a good play.

Kretam is moving up slowly. This is a laggard play. I missed out the leaders, so no choice to play on the laggard. Watch out on the Kretam-Wa. Only RM0.20 for it to in the money. CPO looks like going to challenge the previous high.

By the way, looks like crude oil has broken out of midterm downtrend. Maybe it will rechallenge the previous high of USD80.00. If this happens, then maybe oil & gas and CPO play. Or end of party?

Wednesday, February 21, 2007

Day of Records

Aunty, uncle, ah pek, ah mah, fishmonger, vegetable sellers, pasar malam traders are all in liao.

So many records were broken today.

Gainers vs losers: 976 vs 131 or 7.45 to 1.
Volume: 47 million lots
Value: RM4 billion

Easy money for everyone.

For me, I don't play contra. I just don't feel comfortable. So I'm sitting tight with my position. No buying - cause no more investment money, no selling - cause too greedy. Just watching.

Friday, February 16, 2007

2006/2007 Bull Urban Legend

Did you all read about the urban legend posted in Malaysia-Finance Blogspot? From 100k to 16M in 1 year. Concentrated right stock at the right time. This is everyone wishes. Opportunity in front, but we let it run away.

I need to reduce the number of counters I'm playing. Currently more than 10. Cannot give all the attention. I'm trying to get rip of old counters that are still giving me problem.

Next time, I will only play shares that is more than 50 cents in value. If the value is too low, it is just hard to set stop. 0.5 cents could mean up to 10% difference.

Looks like the rally will continue into the Chinese New Year (if nothing bad happens until Bursa reopens). Gong Xi Fatt Chai too all the readers of this blog. Wishing everyone a happy, healthy and wealthy pig year.

Thursday, February 15, 2007

Frenzy Buying or Selling?

Record high volume of 3.5 billion. It is a frenzy buying or the final push? More ang pow money has been taken out or more will be poured in after the Chinese New Year? Will people forget about mahjong and blackjack and flock to Bursa on the 4th day of CNY?

Question question questions. I am out of trading money. The last one I bought was Jaks. My speculation on Astro-CB has not work out (yet). Didn't sell anything yet. Just raising all my stops.

Friday, February 09, 2007

Turbulent Day

What a day. Maybe everyone has taken out their ang pow money. Old CWs got hit. For me, I got stopped out of BCTTech and Measat today. But I bought more of Astro-CB. Astro showing signs of going up higher. Hopefully this one will fly. If not, then no ang pow lor.

Looking at Mesdaq chart, confirmed it is in EW 3. Unfortunately, none of my Mesdaq are moving (Mems, Notion, Sanichi, GHLSys, Novamsc, JSPC). Sanichi one day show was completely unexpected. I will decide next week whether to cut or hold.

Thursday, February 08, 2007

Oilcorp, Ranhill & Masteel

Ranhill: I have been stalking this counter for the past one month. It one may have broken the downtrend channel. Because of this, I have established a tiny position in this counter. This is a contruction counter that has hardly move. My bet is the discovery of oil that will propel it higher.
Oilcorp: Fundamentally not good, but technically can go up if can break 1.19. So still fill with hope.

Masteel: I'm still trying to find another entry point for Masteel. Looks like it may have found the bottom of this consolidation at 1.15. The daily downtrend RSI has been broken. Let's see whether the selling has subsided.

CNY is only 10 days away. Has everyone gotten their ang pow? Does the foreign funds think this also? Or the gambling spirit will continue during CNY?

Thursday, February 01, 2007

Astro & Oilcorp

Market is no good for the 2nd liners and below. Blue chips still moving.

A few penny shares of mine has been hit. Changing a few counters.

Titan is not working well. The gap up was completely covered. A check with Bursa's website shows that PNB is the main seller.

Last week, I have bought into Astro-CB. Astro looks like on the verge of moving. When will the investor "rerate" Astro? Will try to get more if Astro starts to move because the potential for gain in Astro-CB is huge.

I also bought Oilcorp. The first time I played this counter is last year. Currently, the weekly chart shows that it got potential. Not sure whether it will be pushed up again. Bought this counter hoping the O&G play will start soon.

Still holding BCTTech and Sanichi. BCTTech has not covered its gap. Will it?

Masteel is good to me. I'm waiting for the next signal to add. It's in consolidation now.