DOW up a little. NEP up 32% in one day(range : USD 3.22 to USD4.70), closed at USD4.30. I written about her days ago as she dived and PE went below 2!! Currently, PE at 2.30, extremely cheap for an oil-stock.
I am at Taiping instead of Lumut(Pangkor). See ... we could plan but plans do change and we need to be flexible. Just as in trading, we do need to be flexible and accept changes of plans.
Will spend half a day here before driving up to Penang. Any Penang KLSE-kaki want to spend me makan and talk about stock-market? Hehe.
HapSeng : It reached my 5.82 level yesterday. RSI at 21 now. Martin and Alex given signals to sell as it breaks strong support. Next level to watch will be 5.42. Yes, HapSeng shot up VERY high due to privitisation news(no logic?) and as the hot-news turning into cold, everyone came to realisation that it is merely news. A news to lure many to buy and push a stock higher. It came from 2.80 all the way to 7.40 level. Imagine the profits .. someone bought it(accumulating) at 2.80, let out the news and selling(ditributing) at 7.00 levels. News ... by the broker houses, newspapers, magz ... are meant for SOMEONE to SELL their stake. Think.
Off for breakfast ... only left a little of UEMLand in hand to sell later, and I will be totally in cash positions. I never seen myself in such a ratio 90 : 10 = cash : stock.
10.05 am : KLCI down 1 points. Just came back from Taiping Lake and Zoo.
I was reading what MooLa written about 'broker reports' which is VERY true. Most of us do not care(including me, of coz) if a company REALLY as reported. What is imporant will be ... how our stocks fairing ... are we profitting from the report? Do you care about HuaYang so-called target price at 2.50? It was traded at RM1 before being 'discovered'. Hmm ...