EOD Update (28 Dec 2005)

Looks like increased position size on LIONCOR a bit too early. Shouldnt have tried to catch correction bottom, didnt expect such a large correction. KNM on the move again, FARMBES continues steady climb upward...

Latest purchases:

FARMBES: +2,000 (2.21) ... Balance 4,000

MIDF: +2,000 (1.02) ... Total 10,000

Latest disposal:

LIONCOR: -5,000 (0.45) ... Balance 15,000

/ichithekiller

EOD Update (27 Dec 2005)

OSK-linked counters continue slide, while poultry-linked counters apart from Farmbes have started moving aggressively. GPACKET dropped to arnd 1.90 before bouncing back to arnd 2.00. Am pretty confident about its future prospects, so will not take damage control action yet.

Latest purchase:

GPACKET: +2,000 (2.05), +1,000 (2.07)... Total 10,000

LIONCOR: +10,000 (0.485)... Total 20,000 ... this stock has appreciated approx 25% since I bought at 0.395 and 0.38, going above 0.50 today. Might be a bit risky increasing position size now, but price action still looks good.

/ichithekiller

EOD Update (23 Dec 2005)

OSKVI tanked, MTOUCHE undergoing correction, dont know if it will tank next week, probably not ... GPACKET hit low of 2.10 bfr rebounding to close unchanged at 2.15..

Am getting a bit impatient with SCOMI and SCOMIMR. With so many other opportunities around as a result of prices drifting relentlessly down, it seems a shame to tie up capital in non-moving stocks. Although the FA/value guys always say one should have patience to be a true "INVESTOR", I dont necessarily subscribe to that view... opportunity costs are just what the name implies... costs. Easy money not made is almost as painful as money lost. Well, almost...

LIONCOR rebounding as expected, after debt deferment plan approved by creditors. Up 5c today to close at 47c. Should have bought more when it went as low as 34.5c a few days ago. But its current fundamentals too weak to warrant taking too big a punt.

Latest purchase:

MIDF: +8,000 (1.03) ... Total 8,000 ... with NTAPS of close to RM2.00, this stock is starting to look way too cheap, especially when it owns not one, but two discount houses which would be sought after by IB-wannabes.

Oh yeah, the counter I referred to in the Dec 19 update is MASTEEL. Have given up trying to acquire more on the sly, as sell offers below 0.60 always get mopped up at the last minute and I never get hit on the queue. Will decide whether to pay more for additionals next week.

This stock is starting to look like a real bargain find, amongst the steel industry players. Its small size gives it flexibility and latest quarter showed better earnings from previous quarter, compared to seas of red ink being reported by other listed steel players. Recent switch to natural gas as fuel source, amongst other cost-cutting measures, has improved margins and shows management's foresight and ability to take quick, decisive action. Thats the kinda management we all like, innit? Also currently trading at less than 50% of its IPO price of 1.30 in Feb this year, but that was priced on the back of the previous year's bumper steel prices and earnings due to unanticipated demand from China and India. Details of purchase are as follows:

MASTEEL: +4,000 (0.585), +5,000 (0.59)... Total 9,000

Latest disposal:

SCOMI: -3,000 (1.04), -1,000 (1.05)... Balance 6,000 @ 1.02. Have a feeling there's not much downside risk from here (in fact it seems to be creeping up), but its moving way too slow for me. Need the capital for other counters.

Am not cutting or trimming stake in SCOMIMR (17,000) for now, as still believe prospects for securing new coal carrying contracts from IPP's next year are strong + its AHTS vessels (from newly-acquired Chuan Hup) are in short supply throughout the whole world, due to frenzied oil & gas activity.

/ichithekiller

EOD Update (22 Dec 2005)

CI up slightly due to last-minute push, GPACKET down to close at 2.15, KEYWEST also slightly down.

Latest purchase:

KEYWEST: +5,000 (0.28)... Total 50,000

/ichithekiller

EOD Update (21 Dec 2005)

There has been a lot of bashing in other blogs / forums about the recent run-up in OSK-related counters ...eg. MTOUCHE,OSKVI, GPACKET, OSK (& warrant). There is the usual talk about syndicate manipulation, unsustainable prices, inevitable crash, etc. (for eg. see a related post about this and my comment at www.investssmart.blogspot.com). In fact, many critics predicted last Friday that MTOUCHE would crash Monday this week, when the additional placement shares (huge discount to market) came on onstream. Well, its now Wednesday and not only has it not crashed, it has hit a new high of 3.08 the last time I checked. Guess who the "market operator" is makes a lot of difference ...

I think the run-ups are overdone for almost all of them, except for GPACKET... maybe. I expect GPACKET to record strong Q4 earnings. As we're now coming to mid-December, this may explain its recent moves above the RM2.10 level. The first time it broke 2.10 (hitting 2.15 I think), it quickly retraced down to close at 2.07. However, the last 2 days, it has managed to close convincingly above the 2.15 level. Today's close was 2.20, with high of 2.23.

Am sticking my neck out here, but think this stock is good for a run to at least 2.50 a piece in the short-term. So am putting my toe in cautiously and waiting for Q4 earnings announcement which should come prob towards end-Jan 2006. Will see if conditions warrant accumulating more over the next few days.

Latest puchase:

GPACKET: +5,000 (2.20), +2,000 (2.21)... Total 7,000


p.s. This would be my 2nd foray into GPACKET after previously unloading 50,000 shares up to a price of 1.82 ...why jump in again now? B'cos prospects have been maintained with award of new contracts in additional provinces in China, tie-up with Maxis 3G and the stock price has managed to hold up quite well despite poor market conditions. So what if I'm buying again at higher prices? I'm surer now than before (relatively) and that's considered cost of insurance.

/ichithekiller

EOD Update (20 Dec 2005)

With the general market trading sideways day in and day out, I have decided to do some range trading to relieve the boredom and maybe make some pocket money in the process. Took a shot at MNC again and was pleasantly surprised when it broke thru to a new high of 0.685...

Purchase:

METPLEX: +20,000 (0.055)... * Late addition, left this out when I first posted this.

MNC: +15,000 (0.615)

Disposal:

MNC: -5,000 (0.635), -10,000 (0.67)

So-so for a day's work ... would have made a bit more if I hadn't chickened out and unloaded 5,000 at 0.635.

/ichithekiller

EOD Update (19 Dec 2005)

KNM hit high of 3.52 before closing at 3.50. UMW still not showing signs of breaking convincingly above 6.00 ... will give it some more time ...

Latest purchase:

KEYWEST: +5,000 (0.31) Total 45,000.

I have bought 9,000 shares in another thinly-traded counter... this is far below the total amount I intended to acquire. It seems others are eyeing it as well since at the last minute before mkt close, the last 2 selling price points were bought and so it ran away from where I was q'ing to buy. Details of this counter will be posted when I have bought at least half of my total intended size.

/ichithekiller

Not disappointing anymore: KNM (19 Dec 2005)

Well whaddya know ...? Finally some people are beginning to see the light... besides us bloggers... KNM up 6sen to 3.48 in mid-day trade today ...

Check out the post below on investssmart's blog:

http://investssmart.blogspot.com/2005/12/market-talk-knm.html

Plenty more upside to come, in my personal view.

/ichithekiller

Mid-day update (16 Dec 2005)

Key highlights ... KNM moving up, CAROTEC down again, LIONDIV holding, UMW holding but looks like heading up ...

Recent purchase:

TIMECOM: +10,000 (0.46) Total 10,000 ... this is my 3rd foray into TIMECOM. Both previous times were profitable, entering at 0.48 and 0.51 ...

/ichithekiller

2nd Update (15 Dec 2005)

Pretty quiet day again ... wonder when these lethargic conditions are going to end. So far my calls on KEYWEST and LIONCOR seem to be wrong ... or are these just opportunities to average down? Anyway, FARMBES continues its rise upwards ... years ago I held this stock when it was still called SINMAH and I sold the last one at 2.00 ... perhaps history will repeat itself, one can only hope ...

Latest disposal:

FARMBES: -1,000 (1.80) ... balance 2,000

/ichithekiller

Mid-morning update (15 Dec 2005)

KEYWEST headed further down ... I was wrong about it .... hmmm ... what to do now?

Well ...

Latest purchase:

KEYWEST: +5,000 (0.325)... Total 40,000

/ichithekiller

Mid-afternoon update (14 Dec 2005)

Pretty quiet day again ... LIONDIV slowly moving up, ASIATIC down again to 2.08, wonder what's wrong? CAROTEC up 5.5 sen on bonus issue ex-date announcement (30 Dec). Good call buying back the 5,000 I sold earlier at 0.665 for 0.610 ... total in hand now 15,000. Will see where it heads tomorrow before deciding whether to sell...

Latest disposal:

FARMBES: -2,000 (1.71) Balance 3,000


/ichithekiller

2nd Update (13 Dec 2005)

Just adding a little to some recent positions. LIONDIV holding up well despite strong selling pressure towards later part of afternoon. MNC up again to 0.63 ...well, can't have it all. At this price, I think its overvalued already without any idea of financial performance since its listing.

Latest purchases:

KEYWEST: +5,000 (0.345)... total 35,000

LIONCOR: +5,000 (0.38)... total 10,000

/ichithekiller

Mid-morning update (13 Dec 2005)

LIONDIV and UNISEM moving up... KEYWEST headed down ... was I wrong about KEYWEST? Hmmm .... I was so sure it was headed up.

Latest purchase:

LIONCOR: +5,000 (0.395).. seeing my confidence in LIONDIV, another blogger asked me "what if" its huge cash hoard was used to buy Megasteel and bail LIONCOR... that's certainly food for thought... so I will hedge it by buying LIONCOR also... if terms for takeover of Megasteel are bad for LIONDIV, then conversely must be good for LIONCOR! Ha ha ... problem solved. Of course all this is pure speculation. Anyway, need more LIONCOR ...

Latest disposal:

MNC: -10,000 (0.58) That's the last of my MNC gone, one less counter to look at. All in, a pretty profitable campaign.

/ichithekiller

2nd Update (12 Dec 2005)

Scomimr headed down again ... total lack of news... wonder what they're doing?

Latest purchases:

SCOMIMR: +2,000 (1.02) Total 17,000

MUHIBAH: +2,000 (0.72) Total 10,000

Mid-day update (12 Dec 2005)

Another quiet day ... actually with World Cup and EPL fever on and intensifying, now would be a good time to start accumulating as prices tend to drift lower during World Cup season ... sounds weird?

Latest purchases:

KEYWEST: +10,000 (0.375), +5,000 (0.37) ... total now 30,000 shares.

Latest disposal:

MNC: -3,000 (0.615) ... missed the high today, got up late... slowly winding down position ... balance 10,000 shares.

2nd Update (9 Dec 2005)

Pretty quiet day ... KEYWEST looks like its perking up ... been watching it go down all the way from 0.53. Time for a little test ...

Latest purchase:

KEYWEST: +5,000 (0.37), +10,000 (0.375)

Let's see how it performs first...

Mid-day update (9 Dec 2005)

Whee ... ASIATIC flying ... LIONDIV continues down ... what a bargain ...

Bloody JOHPORT lost cause now ... thanks to TSSM.

Today's purchase (so far):

LIONDIV: +2,000 (2.15,) +2,000 (2.10)

/ichithekiller

Disappointing (Pt. III)

Hah !! Looks like will have to sell JOHPORT to MMC for 2.50 a pop ... what a rip-off!! That's only 5% above last traded price of 2.37 before suspension. And I hadnt even managed to accumulate more. And analysts are recommending shareholders to accept the offer!! JOHPORT is worth at least 3.00 in the medium term ... I will avoid anything to do with the firms these analysts come from in the future and everyone should do the same ...bloody good-for-nothing yes-men. Wonder where they got their degrees ...

KNM continues upward climb ... looks like wont be able to accumulate more at lower price levels.

UMW finally back up to 6.00 again, but on minimal volume ...

Latest Update (8 Dec 2005)

MNC continues strong upward trend ... MPLANT recovering strongly, should have jumped in at around 2.10 (shikes)... LIONDIV took a dive today ... updates below for today and yesterday.

Latest purchases:

UNISEM: +2,000 (1.45) +5,000 (1.48)... here we go again ...2nd round.

MUHIBAH: +8,000 (0.71) ... huge foreign order book, successful foray into oil & gas fabrication, successful foray into shipbuilding, demand for vessels should be strong for years to come ... what's not to like ... MUHIBAH is a steal at this price. Only (-) is lack of liquidity.

LIONDIV: +2,000 (2.15) +2,000 (2.19) +4,000 (2.20) ... big dive today..prob cos all the Parkson listing hoo-ha is now over ... good value at this price, especially as still countless cities to expand to in China... and now they have a huge cash hoard. Just hope not jumping in too early.

NAMFATT: +5,000 (0.41) .. this stock is a bargain. Adding to existing 20,000-share position. Despite construction slowdown, overseas jobs are still sustaining it, quarterly earnings barely affected, in fact improved q-on-q. Now trading at below 3x PE even if you just take last quarter EPS x 4. Once construction stock sentiment returns, this should fly ... volume also picking up.

Latest disposals:

Aarggh ... this is so messy ...

MNC: -5,000 (0.52), -8,000 (0.55), -3,000 (0.56), -4,000 (0.57), -2,000 (0.60)

That leaves balance of 30,000 + 5,000 - 22,000 = 13,000 @ avg cost 0.32.

Disappointing Pt. II

Ahhh ... JOHPORT finally showing some promise ... up 12 sen today to close at 2.37 (Day High 2.39)... wanted to buy a bit more on the upswing but missed it...only saw it at 2.35...

KNM also slowly inching up, closed up 6sen at 3.28... I wish this would drop below 3.20 for a while, so I could accumulate some more ...

UMW still not showing signs of breakout ...

Hmmm ... whats up with THHIN, I wonder?

Latest Update (6 Dec 2005)

Lower liners continue to recover tho' CI trading mostly sideways ...

Latest purchase:

MNC: 5,000 (0.47) bought back some, although sold at lower price yesterday... still looking strong tho'..

Disappointing

The recent share price performances of KNM, UMW and JOHPORT have been disappointing, to say the least. Despite exemplary earnings being reported, UMW and JOHPORT barely moved (in fact JOHPORT has gone back down to pre-announcement level) and KNM has actually declined to under pre-announcement price!! I even checked to make sure I didnt buy when the prices had already run up in anticipation of strong results being announced... *@$#@.

Well, all that can be done is to wait for the market to finally come around to these stocks ... patience, patience...

Latest Update (5 Dec 2005)

CI continues listless trade and aimless wandering. However, many lower liners have started to bounce back. FARMBES back up to 1.58 (up 11 sen for today!!) ... shld have stuck to my guns and not sold 5,000 last week during pull-back. APLI also hit high of 0.45 ... blast!! So much for my theory of cutting down positions due to uncertain conditions. I need to STOP taking small profits!! Meanwhile, MNC is performing reasonably well given market conditions (up 8 sen today!!)...

Latest purchases:

ASIATIC: +5,000 (2.07) Bought last Friday. Looks like good value, come down a bit lately.

SCOMIMR: +3,000 (1.03) Sold 3,000 at 1.11 earlier last week, buying back now. Let's see how low it can fall.

GTRONIC: +5,000 (0.305) Nice price action, still have 29,100 from earlier purchases.

Latest disposals:

MNC: -10,000 (0.38), -10,000 (0.39), -5,000 (0.415), -5,000 (0.445) ... nice trading gains ... balance 30,000 shares.

Latest Update ( 1 Dec 2005)

Aargh ... FARMBES turned ugly. Should have maintained strict discipline and reversed trade when stock made a U-turn from 1.58. Remember never to fight general market conditions again...same mistake as with SCOMIMR. Much too risky during times like these.

LATEST PURCHASE:

KNM +1,000 (3.20) ... wow, so cheap ... but very long queue.


LATEST DISPOSAL:

FARMBES -5,000 (1.46)

Latest Update (30 Nov 2005)

The general market is not looking right. Decided to cut down some riskier positions...

LATEST PURCHASE:

+2,000 ICAP (1.11)

LATEST DISPOSALS:

-3,000 SCOMIMR (1.11). Bought during recent run-up 'cos thought the market had caught on. Got trapped and didnt reverse trade when it started going south, didnt expect it to fall so much. Closed at 1.06 today... if it keeps falling at this rate, will be buying more soon. Balance: 12,000

-5,000 SCOMI (1.03) Balance: 10,000

-20,000 APLI (0.405)Balance: 0 (decided to take small profit & cut positions)

Am sitting on quite substantial losses for SCOMIMR at the moment. Hope the contribution from latest acquisition of shipping business is reflected soon in next quarterly earnings announcement. Plus, it would be good if they could secure some coal carrying contracts for the coming Tg Bin power plant. Meanwhile acquisition of PT Tender Rigs completed.