morning …
Trading
KLSE rebounded a little yesterday … no excitement but another gloomy situation expected. With SAPP issues being pushed aside, market could only go sideway with many investors holding on to their positions.
Another selling pressure on Resorts, being down-graded. If there is another round of huge sell-down by its foreign funds, Resorts may be testing the 2.50 level. One may say that it is trading at a discounted rate at the moment, but i hv learnt to know that NO STOCKS in Malaysia can be totally reliable. Too many speculators and retail investors in KLSE, making the figures unrealiable. The PER or NTA values could not really be used as indicators(to buy or sell?) … At any moment, there might be a breakdown on support levels and going to the next low. What have I learned thus far? I m still grasping on the theories and following closely the fluctuations of the prices.
SCOMI
For example, when i bought Scomi at 0.985, there is a strong support at 0.975 … and the resistance at 1.05. So, i thought(that can be a costly mistake) i was buy at a low. And was thinking to sell it off once it reaches above 1.05 level. Nope … it breaks the support levels and now trading at 0.70 level. When it was at 0.80 level, i told my broker to BUY at 0.78 … fortunately, i could NOT get it at that "CHEAP" level, otherwise i will lose another 10% of my stake!! If u think 0.70 is cheap, it might go down to 0.60?? Ridiculous! Let us view SCOMI PER … it is at a low of 3.2 and its latest annual report stated that the NTA is valued at 0.77. Then, WHY scomi is being sell-down??
Can it be a political reason? We know Badawi’s someone in the company. It that the reason as Badawi has been shaken by Dr.M(and son) and now the SAPP Datuk Yong? Hmmm ….
With petrol going-up, many more will opt for public transportation, right? LRT will be in good business? I read that SCOMI going into marketing their LRT in INDIA and VIETNAM. Currently they are involved in the Middle-East. I read too much and it confuses me … it does not reflect on the price of it stock!! Scomimr and ScomiEng are also at its low … hmm …
WCT
Trading at an attractive price of 3.05, this contruction giant(KKIA under their belt) has 70% exposure oversea, particularly Middle East. Under WAR break-out in the Arab countries, they will hv a stable profit for coming 5 yrs. The current issue is O&G sectors … but STEEL and CEMENT sectors are still on the spotlight. Constrction and Property sectors have been badly hit.
I hv been stalking WCT for quite sometime now and after reading the latest analysis from OSK, my interest on this babe increased. Perhaps i should initiate a move on it now … ?
