Wednesday, October 27, 2010

CWs : TanChong, Bursa and CIMB

CIMB : Breached RM8.05 resistance yesterday, gap-u0p today and testing RM8.18 soon. It might go sideway from here before taking off this resistance for the target of RM8.30. Another surge will see me SELL. When I started to look at it last week, it was oversold. How could CIMB in oversold position? Najib wont be happy with that when UMNO assembly is going on, ok?

CIMB-ci : I highlighted the day I bought into this one at 0.26-0.265, with target at 0.29. Today it closed at 0.270, touched 0.275. Watching CIMB at RM8.32.

Bursa : At RM8.51, could it breaks the resistance of RM8.63? We need another bull-run and Bursa breaching 1,500 level ... so this Bursa also run. It will be called BULL-sa then. Hehe.

Bursa-co : At 0.110(0.115 is planted - so not counted) now, premium 3.4% as Bursa closed at RM8.51. I bought at 0.11, 0.115 and 0.12 at the moment. Taking profits at 0.135 level, technically it is still very nice. Wait.

TanChong : Rebounded from RM5.40 to RM5.70. Sideway now(good!!) and trading at R5.60-RM5.70 range bound. Target RM6.00. Breaking RM6.00 will be new high - possible as market sentiments are still good. Need to wait. Someone asked me if it is too late to enter on Monday - I did not reply as I said - no one could tell.

TanChong-cd : There are currently 5 CWs attached to TanChong and I have picked this one and bought into it on Monday. It closed lower today at 0.185. Strike at 4.55 with ratio 6, giving us RM5.66. With TanChong closed at RM5.68 today, it is in-the-money. Unless there is a huge reversal, no reason for me to clear yet. I have average about 0.175. So, waiting at 0.20. But IF TanChong could move to my target of RM6, this CW will go to 0.25. TanChong came down from RM6, this CW came down from 0.25. Will it rebound?


p/s : NJ, I saw that you said you bought into TChong-cd. I hope you are not buying into it as I said I m into it? Hope not.

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