Friday, March 07, 2014

Plantation over-played?

FCPO gapped up ... going to reach 2900 soon ... ridiculous as they are now talking about due to dry weather ... and expecting the production to drop(by 14%?) ... and base on that, CPO could go to 3000 level again. The recent CPO-forum giving bullish outlook ... and the soy-prices continue to surge high. We are hearing El Nino stories coming out, retailers started to get excited about plantation counters ....

CBIP was given at RM3.05 when it breakout about 3-4 months ago ... today it is hitting new high RM4.01.

TDM ... traded three times ... sold all 0.99 yesterday. That is the resistance.

TSH was checked at RM2.50 ... now, hitting RM3.40 level, a new high again today.

IJMPlant-wa ... was collected at 70cents plus level, today sold another portion at 0.80.

Kulim-wc reaching 90cents now ... talking about bull? We were collecting at 70plus level.

IOICorp was given at RM4.20 level .... now reaching RM4.80.

Many of plantation-counters are overbought ... and it is about time to take profits. I dont know about others, I have been collecting ... and releasing my plantation counters. Simply dislike those noises around, with CPO ...

We shall see how far it is going to run. Maybe CPO will be hitting 4000 level by mid-year ...

Time for lunch ...

TEH





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