I will talk a bit on the palm oil counters in today's
blog. Some of us may know that Felda Global
will list in Malaysia tomorrow, in what will be the
world's second-largest IPO this year. We can see
that some of our local listed peers have already
started to pre-move before the anticipated listing.
Golden Agri and surprising Mewah were in the
Top Volume yesterday, and First Resources even
surged 7.5cts on a comparable low volume.
Other palm oil counters like Indo Agri and the
recently listed Bumitama did not really participate
in the pre-move. I am not saying that our local listed
peers will definitely surge with the debut of Felda,
but it is worth monitoring them for any trade potentials.
Next focus will be on Olam. The counter did well
yesterday but once again, hit the resistance and
day-high of 1.88 and closed at 1.875 As what I
stated in the blog before, as long as the 183-184
support is not taken out, it will test and re-test the
1.88-1.89 resistance again and again, and I just
have a feeling that it will be broken soon enough.
A few readers asked about the former market
darling, Genting, in emails and Skype messages.
I have to say that it is very risky touching the stock
now as it had just set a new 52-week LOW last Friday.
Any gains currently will be seen as just a rebound
and I will only look at it when it has at least taken out
the 1.45-1.46 resistance. This was my favourite trading
stock for quite a very long time but it has since fallen
from grace. Although I believe we will seen the last
of the counter, but I will say, give the stock a break and
it will be back with a vengeance.
Enter any position with a Cut-loss level & Trailing Stop,
and Please practice strict Money(Risk)-management.
If you don't like what you see in the market,
simply don't trade.
If you have Skype, and would like to chat with me about
stocks and all others, you can ring me at my
email address: stocklobang@yahoo.com
I have currently a couple of members skyping with me
everyday,and they are having good trading results.
See their comments here:
http://stocklobang.blogspot.com/feeds/comments/default
As usual,
Stay Alert but be Aggressive too.
Audentes Fortuna Juvat !!
市场生存座右铭: 风林火山
别人笑我太疯颠，我笑别人看不穿
1 comment:
hi bro SL, just want to thank you so much for your help given. I was into bumitama for contra and it was still making a slight loss yesterday. luckily I consulted you and didn't sell too soon and you also told me about the felda ipo, and indeed it moved today. I managed to sell it at 945 and made some profits. thank you again bro SL!
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