Sunday, September 28, 2014
Stock Watch : PMetal and wc
PMetal : two long black-candles ... catching a knife? Lower could go lower ... but, it is killing many retailers and some panic selling seen last Friday. Some acquired below RM2-3, still good profits but those chasing up above RM5-6 could be selling for smaller profits ... those just bought at RM7, now it is below RM6. It closed at RM5.85.
On Friday, it hit RM5.32, that is about 15% down in a day. Support at RM5.20, so ... I queued at RM5.20. It was there around RM5.40 level for a while before some buying coming in, it shot to RM5.50 when I told the group I am buying. Done ... and I parked to sell RM5.65 ... done in half hour, and bought back RM5.72 and sold RM5.92 .... it was very fast-furious.
I bought some during closing RM5.85. Yes, I have warned all of the risk. So, if some following ... trade at your own risk.
PMetal-wc : Tracking the mommy, this is the baby ... for risk-takers, we could consider to trade the warrant(s). But it is sharply down ... so , the risk is very high. The rebound from the lowest 3.36 to closed at 3.79 = 46cents. That is 10% trade in a day? Why not?
If I have the time, I will want to read some comments from some forums related to PMetal. I believe there is some sell call around, and some might have panicky sold their stakes on Friday. The volume was huge!!
Having running nose, red-eye ... I need to sleep.
Trade at your own risk.