Saturday, January 22, 2011
HuaYang : Nice chart and news of good profits are out. PE still below far below average. I have used HuaYang as a study for my students of smallish un-covered stocks by most broker-houses but it will be good if we know how to read Annual Reports and/or quarterly report.
When NJ bought her at 0.97 about 2.5 months ago, I was targetting 10% in 3 months. Today, it is 10% and next week it should move higher after the news out. Initially he was targetting 1.20!! But I m always more conservative and if it gives me 10% in less than 3 months, I will be glad. He sold his portion at 1.05 level. I have asked him to buy-back last week and dont know it he done that.
I have spent my Sat night in Uni Hospital and will be there whole day tmr as my dad is ailing and we bro/sis could only pray that he will go soon without much pain. It is painful to see him suffering as he is at the moment. Anyway, I am ok.
KUALA LUMPUR: The local stock market may see cautious trade on Monday, Jan 24 after the profit taking by foreign funds on Friday, which pushed the FBM KLCI to the lowest since Jan 3 while RM18.07 billion wiped out from the market capitalisation in one day.
The FBM KLCI closed at a three-week low on Friday, the worst performance since this year as some funds took money off the table, in line with key regional markets on concerns about more monetary tightening policies by China's government.
The KLCI was down 19.08 points or 1.22% to 1,547.43, the lowest since Jan 3 when trading started for the year as local institutions stayed on the sidelines. The profit taking, especially of banks and PLANTATIONs, saw the market capitalisation reduced to RM1.306 trillion from RM1.324 trillion on Thursday.
I will not be writing anything for Sunday. Liverpool won.
Have a nice weekend.