Ok, you can call me Kiasu and Kiasi, but I have
been dealing with Mr Market for so long that I
am quite confident that I know the temper and
habit of the market. The following are what I
observed over the last 2 days and I would like
to share with the readers. It is my responsibility
to inform but I will allow the readers to decide
and the determine their cause of actions.
On 24th June, that is 2 days ago, a normal Tuesday
trading day, did you notice that the Top Volume
are swarmed with micro penny stocks? Up till the
20th position, then I see a slightly "expensive" stock
in Golden Agri, which is a regular in the Top Volume.
Then United Envirotech, QT and RH, Genting follows
behind. If you have been reading this blog for some
time, you will know that I am not a micro penny stock
lover and I very very seldom touch them. Even when
the readers asked me about a micro penny stock,
I will tell them frankly that I don't look at the mentioned
stock.
Then yesterday, the Top Volume 23 positions are
occupied by the micro penny stocks and until 24th
position then I see Noble in the list. Only 4 stocks are
higher than 50cts in the Top Volume.
Truthfully, I don't like what I see in the Top Volume
right now as I did mention in previous posting that
the micro penny stocks are usually the last to move
up in a market rally but they can be the first to
crash out too. I don't know whether the readers are
also dealing with these micro penny stocks but you
got to be really careful when you are dealing with them.
There are good money to be made from them as
their movement can be very drastic and thus provide
huge potential gains. But I believe I am not suitable
for such gungho stuff and I will stick with my more
"expensive" stocks.
For the time being, please practice caution and be
vigilant to the market condition. It may not turn out
to be as bad as what I expected, but you need to
be prepared. Those stocks that I mentioned in the
blog recently are not for Contra and are more
suitable with a short-mid term horizon. Do take note.
Nicolas Darvas Box Theory Trading Method
Investing Seminar
Timeless You
3 comments:
So any take of what is/are the potential reason such surge in volume for the micro penny stocks?
SB, as always, I would like to thank you for sharing your observations and short reviews. I have made some profits following your recommendations - Fraser Cpt and Noble. Still holding on to Metro.
Thanks,SL for sharing your view last week. i took profit last Friday before the share price drop back to my buying price today. your view plays a major role in helping me to decide to take the profit.cheers!
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