Friday, October 10, 2014
Selldown : O&G
Morning ... the rebound is in danger as DOW dropped 300plus points, 2% last night. Here we come again ... sell and wait?
It is very hazy out there ... bad whether, bad news around. Yesterday there is a news of bomb!! Yes, in Malaysia now ... then, news of flood in Sabah. Of coz we have politicians(both side, same la) argueing and making jokes to entertain us. I decided to ignore and leave those political news ... till next election. All these are not good for health and well-being ... lives, in general.
Last year, many O&G counters have a very good rally. Now, the selldown continues ...
Alam : Hanging at RM1.08, it is not cheap as it came up from 50cents level. But those who bought at 150-160 might be in huge losses now. RM 1 support, if broken ... more downside seen. Where is the bottom?
Armada ... at new low , after ex-bonus and rights issue. Will it break the support and we are seeing new low today?
Coastal : Very bearish too ... it is not cheap, either. The rally from RM1 plus to RM5 plus. At RM4.30 ... way to go to neutralize the strong way-ahead of fundamental rally. This correction is needed as many have went up too strong.
well ... will continue with more O&G related counters later. Preparing to shop in morning ...