If yesterday was a bloodbath, today was a massacre...at 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.