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