Friday, May 18, 2018
Selldown in construction stocks
1.45pm : Just had my lunch ... at Pyramid, wife shopping at AEON (weekly groceries). It has been loooong time I did not able to sit still and ... yup, to write a post.
It takes inspirations, idea ... and time to write down our thoughts. Well ... I have been ecstatic for a week now since the GE14. It is un-believable to know that we RAKYAT has won.
Ini kali lah ....
but ... due to that, BN lost ... and many constructions and BN-related counters are being hammered. Limit down ... gap down and continuous selldown by funds/investors as fleeing those deemed to be ... err ... (fill in the blank)
Gamuda-we : in morning post ... I alerted as it is going to break support 83 cents... now, it closed at 75cents for lunch. Someone met me during the PACA-training before GE14 and he asked me about Gamuda-we as he is STUCK up there (above RM1.20 plus) ... I hope he reads this and has sold off (cut-loss) as he followed a 'sifu' to buy into. He mentioned good 'order-book'.
Let me say again : stock-markets do not work on order-book... that is for analysts to write or justify their target-prices etc. Don't talk about SOP (sum-of-part ... in case you are thinking of that swak-oil-palm ... which I still like) or the construction projects which might be investigated or re-nego ... we don't know.
Well ... sorry to those stuck up there ... part of lessons in stock-markets anyway. I have my share of experiences of getting stuck, painfully cut-loss ... and move on.
Econbhd : someone joined my e-meeting last night and asked about Econbhd. Not sure if he stuck up there or has intention to buy into ... so, the idea is AVOID if you are not an experience traders ... do not catch a knife, you would be cut ... and if you do not know how to cut-loss, then you wont survive. I started to trade Econbhd up ... in 2016 ... around 50cents (adjusted to current price la ...last time was 90cents, actually).
Ekovest : the selldown is not as intensed ... but it has broken the 73cents support ... and now we shall check at 40cents level support.
Fajar : breakout of 60cents ... went to RM1 ... now, broken 60cents due to the gap down ... now we shall check 33cents.
Malton : watching it will break 55cents ... at 60cents level now.
WCT : New low ... and stil diving today. at 77.5 now ... no touch.
Is the selldown over?