Gamestop : Trading at USD20 level, this is one of the few PROFITTING stock which has NOT recovered. Its low at USD18 level in NOW 2008(down from USD60+), and barely moved to USD32 when other stocks jumped 100-400% in the same period of time. During the recent market correction, it moved below RM18 again before regaining some ground. At USD20 level, it is with a SINGLE digit PE.
I was looking for low PE stocks which trading in US and stumble with this game-stock. Game as in computer and TV game. Well, just mentioning but wont grab it. Technically it forms a lower-highs, and might be forming a descending triangle(bearish). Once it breaks this strong support at USD18, it might need to look at USD11 level for the next strong support. OUCH. So technically bearish(downtrend) but PE is single digit! How about its businesses? Do you want to play 'War of Craft" or DotA = defence of the ancient? How about HALO?
DOW down another 50 points. A123 down another 5%, at 8.08 now. Terrible. So, I need to be patient to wait ...
9.35 am : KLCI up 6 points, thanks to Genting. Genting shooting up 5% due to sister earning some money.
LionInd up today AFTER I sold for a loss of RM500. That is short-term trading which I m trying to avoid for the time being. With market in overbought region, LionInd in overbought region, it is only LOGICAL to wait for the correction. So, I will sit tight on my oversold JCY, TopGlove and Hai-O.
Genting is one good stock for trading as it is volatile(comparing to GenM). I 'lost' E&O ... so, LionInd is still one stock I will like to move back in when the correction comes. GPacket still one of my fav too, waiting for 0.90 level, and oversold now. Good. Wait.
4.00 pm : KLCI up 8 points, rebounded. JCY up 7%, at 1.23 now. Unisem up too, at 2.04, and I m queueing for more at 2.02. A bullish day ...
Currently I like IJMLand at 2.20, DRBH at 1.05 and GPacket at 0.92. I m still focusing what in my hands, more than I could handle, with limited funds left.
TopGlove at 6.25 and HaiO at 3.38. These two not moving much yet.
ENG is lagging behind, an opportunity for those looking at tech-sector to rebound?
4.55 pm : KLCI up 10 points. Added Unisem at 2.04 as 2.02 wont be done.