Wednesday, November 21, 2012
Stock Watch : MPHB and SKPetrol
MPHB : This was written months ago ... when our group started to buy(and trade) at RM3(breakout). I managed to sell half at RM3.80+, and it retraced .... I was collecting at each support level, larger as it went lower. The last level I collected was at RM3.50. Someone in my stock-watch group bought at RM3.50 levels and sold at RM3.70 recently. I am still holding to my huge positions. The doji shown yesterday is not good, so ... will see if it will rebound from RM3.68. Previously, I traded MPHB-ch too but with current market situations, I prefer to focus in good FA stocks, and buying mommy.
MPHB is in news for months now, due to the selling of its non-core assets and re-listing of Magnum. With the latest of selling AA stock-brokering firm, I think they are done with their sellings? We shall wait to see how all these news pan-out to be, and Magnum will be listing in KLSE. The share-holders(like me) of MPHB will benefit from these coorperate activities.
BJToto ... well, a trust will be listing in SGX(or listed??) ... and making Magnum the only direct NFO in KLSE. That could explain my liking in MPHB, rather than BJToto. We shall see if Magnum will give us a good dividend, and attract more investors to 'park' their money with her.
Read all you want about the fundamentals ... and the news. I am still a trader, I will still sell when the RSI reaching a high level, or the candlesticks giving me bearish signals. I will still trade(take profit, buy-back later).
When I bought hugely in MPHB, I was trading SKPetrol too ... buying hugely when it broken RM2.20 resistance and also SK-cb. It is not fair to say that I did not place stocks in my blog? Hmm ... I do tell my whole group to buy SKPetrol at RM2.20 and RM2.30 ... with recent shot-up, I asked all to sell SKPetrol ... one sold at 2.90. I was like "wow'. Another person was still holding to SK-cb and sold at 0.30(bought 0.23) ... but it went to above 0.40!!
Today, I wont buy SKPetrol ... I have given many reasonings of buying into SKPetrol months back and I do mention about the rumour of it possibily placed as KLCI counters. Well, with market-cap more than 10billion, this is one giant in the making.
The SKPetrol chart showing high RSI now ... we buy good stocks when its RSI at the low.
note : Do check my previous posts, somewhere in the blah-blah ... I did mention that I bought SKPetrol(and sold) and MPHB hugely.
Got to go for office now ... and will blah blah more later.