Monday, August 01, 2016
Stock Alert : O&G
Alam : At new low, 31cents ... gapped down today. It is down 80% from the peak.
Coastal : Dropped 70% from the peak ... at RM1.50 now. At whatever level we bought inside here, one might have a huge paperloss now.
Perisai : Closed 22.5 ... dropped from RM1.70 ... so many retailers STUCK inside ... wonder why? Because cut-loss is too painful, many average it down.
Note : We do not average down non-dividend, cyclical stocks ... and market NOT crash yet.
e-mail : Someone asked me about Coastal ... if break RM1.40, new low will be registered. I will not recommend to buy more or hold into O&G counters. The bottom is not there yet.