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Ichi the Killer

Bursa Malaysia stock trading portfolio of nobody really important.

Wednesday, August 30, 2006

EOD Update (30 August 2006)

GLC's showing some life. Market closed for National Day celebrations tomorrow. After that PM delivers budget speech on 1 Sept. Corporate results coming in so far mostly suprisingly good. Crude prices finally went below $70. Bank Negara looks likely to pause rate hikes for rest of year. Seems like a lot of positives out there. So, what's stopping the market? Political tension? US economic slowdown? War in Middle East? Foreign fund managers on holiday (oft-cited reason, this)? Which of these negatives are likely to affect which Bursa stocks?

Latest purchase:

SCOMIEN: +6,400 (average 1.358) ... Total 6,400


/ichithekiller

Tuesday, August 29, 2006

EOD Update (29 August 2006)

LIONDIV rose 24c to 4.62 today (high 4.64) before suddenly being suspended. This followed the suspension of its PRG subsidiary on the HKSE. From the announcement, it seems there will be a share placement of PRG shares to a new investor which is considered to be of a "price-sensitive nature". Not sure what this ultimately means, but could be the potential entry of some big-wig fund or strategic investor. Will just have to wait for further announcements, but whatever is coming should be good.

PWORTH finally managed to close above 0.60 (at 0.605) ... looks like more upside to come at last.

Latest purchases:

ROHAS: +2,000 (1.04) ... Total 6,000

TOMYPAK: +12,000 (0.49), +3,000 (0.50) ... Total 15,000

Latest disposal:

MIDF: -3,000 (0.985) ... Balance 0 (Finally forced myself to get rid of the last of this, not going anywhere for the longest time already)


/ichithekiller

Monday, August 28, 2006

EOD Update (28 August 2006)

A strange thing happened today.... 5 of my counters actually ended up on the Top 15 gainers list (with 3 in the Top 10). They were ROHAS (up 19.5c), MTOUCHE (up 16c), CYMAO (up 12c), SPOLYMR (up 10.5c) and MUHIBAH (up 10c). All except SPOLYMR closed at or near their day highs.

Okay, okay ... I admit that my SPOLYMR is still underwater despite today's rise and I only have a measly 4,000 shares of ROHAS, but still in market conditions like what we're facing now, I'm always thankful for small mercies. Despite trying to add to my ROHAS position for a long time, I always queued at a very low price since the market seemed quite bearish, but never managed to pick up additional shares. Today's move really caught me by surprise and I totally missed leveraging up on it.

Hope today's "phenomenon" is not a one-day affair and will translate to a broader across-the-board strengthening. On a positive note, the corporate results that have been coming out seem unexpectedly good, despite higher interest rates and fuel costs. No trades today.


/ichithekiller

Friday, August 25, 2006

EOD Update (25 August, 2006)

CYMAO moved strongly to hit 1.27 before closing at 1.26 (up another 12 sen)... looks like timber-related theme is starting to move on to lower-liners as I was hoping.

LIONDIV seems to be gaining strength recently. A top foreign house issued a report yesterday recommending its clients to switch from Taiwan to Malaysia and Thailand. This could be the reason CI stocks seem to be moving up and some of the buying could be spilling over to LIONDIV, for an indirect play on China's retail sector, which has so far shown no signs of slowing down.

Latest purchase:

DGATE: +2,000 (1.37) ... Total 12,000


/ichithekiller

Tuesday, August 22, 2006

EOD Update (22 August 2006)

GPACKET hit a record high of 4.00 today, closing at this price as well. Think I will be holding this and my MTOUCHE to see how the GMO listing on AIM pans out. My feeling is that it will be very well-received. Investors and punters on AIM are known to easily value promising growth stocks at several times higher PE's than can be achieved here. So overall, it's a pretty shrewd strategy to list GMO on the AIM... what more with a China theme, which is still very much in vogue.

I've been watching SSTEEL for a while, waiting for a confirmation of its earnings direction. Well it just came in its latest quarterly announcement. Although a chunk of the earnings was from forex gains, it's still a pretty good indicator to me that operationally it has turned the corner. Funny thing is, the market seems to be ignoring it...

After yesterday's strong showing, RHB and UEMWRLD tried climbing again today but fell back close to opening price levels. Trading action still looks ok to me though ...

Latest purchase:

SSTEEL: -5,000 (1.09) ... Total 5,000 (so illiquid...)


/ichithekiller

Wednesday, August 16, 2006

EOD Update (16 August 2006)

Plantation 2nd-liners continued falling today. GPACKET & MTOUCHE moving again... decent quarterly from GPACKET.

Latest purchases:

UEMWRLD: +2,000 (1.37) ... Total 14,000

RHB: +5,000 (1.06) ... Total 11,000


/ichithekiller

Tuesday, August 15, 2006

Lunch Update (15 August 2006)

Plantation stocks seem to be losing steam...lucky I've been unloading steadily. Sold the last of my RSAWIT this morning... it hit 1.85 and reversed all the way down to 1.72 now (at time of writing). Too bad I didn't unload any ASIATIC at higher prices, was waiting for at least 4.00 but it only managed to touch 3.96 briefly yesterday and now it's down all the way to 3.80 ... looks like this counter is going to give me another "free" roller-coaster ride again.

Latest disposal:

RSAWIT: -3,000 (1.82) ... Balance 0


/ichithekiller

Monday, August 14, 2006

EOD Update (14 August 2006)

CYMAO looks like it bottomed last week at 0.94 ... spiked up suddenly today to 1.16 before settling to close at 1.10 ... not bad. I think it's being accumulated and there should be more upside. PWORTH, another timber-related counter with its own concessions gapped up today but closed flat at 0.575 ... to me this counter is undervalued but it seems to have trouble breaching the 0.60 mark convincingly. No discernible movement on TIMWELL yet despite the ongoing timber theme. I will be patient.

MUHIBAH closed up 8sen to 1.50 today, possibly in anticipation of its subsidiary's IPO tomorrow. On the property side, my one remaining property counter, MAHSING has been quietly moving quite strongly the last 2 trading days, rising from 2.27 to 2.47. Think can expect a good set of quarterlies to come out. Citigroup also reiterated its Buy call on MAHSING with a target price of RM3.00.

I won't talk about RSAWIT since everyone seems to be watching plantation stocks now.

Latest disposals:

RSAWIT: -2,000 (1.72) ... Balance 3,000 (today closed 1.78, up another 14sen)

IJMPLNT: -2,000 (1.72) ... Balance 0 (didn't get to buy enough before move, so disposing for now to avoid hassle of monitoring an extra counter)

I just noticed I sold the above 2 counters at the same price today. Is that a coincidence or what?


/ichithekiller

Saturday, August 12, 2006

EOD Update (11 August 2006)

All plantation stocks, big to small, closed up today, with the notable exception of KULIM-WB which closed down 3sen at 2.28 ...seems like I made the right decision to get off it for the time being. RSAWIT went up another 7sen to1.61 while ASIATIC rose another 10sen to close at 3.74. IJMPLNT which I had started buying in again yesterday at 1.60 shot up to a high of 1.71 before closing up 9sen at 1.69. Did not manage to build up my position in this counter before today's surge.

SATANG dipped down to 1.28 again, led by a sharp fall in IRIS. While MTDINFR, IPOWER, and CANONE do not seem to be much affected by the direction of IRIS anymore, SATANG is still showing a close correlation. I can't figure this out, since it's got decent earnings and the prospects of significant earnings boost from 9MP-related defence spending. Good thing I decided to take profit on a short-term buy trade in this counter recently, selling out at 1.52 approx ... however, earlier purchases which I held on to are now showing losses which are beginning to worry me. At some point, will have to figure out pain threshold for this.

Latest disposal:

FOCUS: -2,000 (0.365) ... Balance 18,000


/ichithekiller

Friday, August 11, 2006

Lunch Update (11 August 2006)

Latest disposals:

KULIM-WB: -1,000 (2.31) ... Balance 0


/ichithekiller

Thursday, August 10, 2006

EOD Update (10 August 2006)

KULIM-WB made another dash up to 2.38 (up 0.21 from yesterday's close) before settling down to close at 2.31 (up 0.14). On the other hand, KULIM only managed to move up 8 sen before closing flat. If we make this comparison from a percentage-wise perspective, the difference is even more glaring. Looks to me like the warrants could be running a bit ahead of the mother share. At times like this when markets are so volatile, I'm happy to take profits, especially when 2.35 and above translates to more than 80% appreciation from my first buy point at 1.30 barely 3 weeks ago. Will only be more comfortable going back in when the mother share shows some upside movements in tandem with the warrants.

Meanwhile, ASIATIC finally started moving again, after I sold off some recent additions ... typical.

Latest purchase:

IJMPLNT: +2,000 (1.60) ... Total 1.60 (2nd round with this counter)

Latest disposals:

KULIM-WB: -2,000 (2.29), -1,000 (2.36), -1,000 (2.37) ... Balance 1,000


/ichithekiller

Wednesday, August 09, 2006

EOD Update (9 August 2006)

SJER-related stocks like TEBRAU and UEMWRLD continued to slide today due to the announced freeze on land transactions in that area. The key issue here is how long the freeze will be in place and what it actually hopes to achieve ... I mean, really achieve? I can't really figure out a logical reason for its continued enforcement.

Besides, TEBRAU and UEMWRLD are not in the business of selling bare land. So what's with the selldown of their shares? The market bear's argument is that freezing transactions by speculators will halt the upward appreciation of land prices in the area. Ok, so how much land "in that area" do others have and would it really generate enough impact on market prices anyway? I don't know the answer to those questions, but my bet is "not much" on both counts. So I will file this freeze together with all previous other temporary, unexplainable measures we have seen before. Funnily enough, EKOVEST doesn't seem to be affected much by this over the last 2 days.

Latest purchase:

UEMWRLD: +2,000 (1.38) ... Total 12,000


/ichithekiller

Tuesday, August 08, 2006

EOD Update (8 August 2006)

Latest purchases:

UEMWRLD: +2,000 (1.48) ... Total 10,000

FOCUS: +5,000 (0.38) ... Total 20,000

FOCUS seems to be on a pretty strong uptrend since bottoming recently at 0.235 ... its industrial and commercial energy saving products and services should benefit in some way or other from the recent TNB tariff hike.


/ichithekiller

Monday, August 07, 2006

EOD Update (7 August 2006)

KLK and KULIM made another surge today... while KULIM managed to hold on to most of its gains, KLK closed flat. ASIATIC managed to hit 3.56 before coming back down to close at 3.54. This counter has not increased much since I increased my position the 3rd time, so I have decided to lighten up on it, while also taking some profit on my KULIM-WB.

Latest purchase:

BCTTECH: +2,000 (0.72) ... Total 12,000

Latest disposals:

ASIATIC: -2,000 (3.52) ... Balance 3,500

KULIM-WB: -2,000 (2.04), -2,000 (2.00) ... Balance 5,000


/ichithekiller

Friday, August 04, 2006

EOD Update (4 August 2006)

Plantation heavies finally started moving again today, after CPO futures had come down yesterday and today...funny market. Hope this will drive a continued uptrend for RSAWIT, KULIM-WB and ASIATIC. KULIM-WB is getting close to the 2.00 mark, hitting 1.94 today before settling down to close only 3 sen up at 1.90. Read somewhere that KULIM (mother share) RNAV is more than 10.00 a share, so even at 30% discount it should be valued at at least 7.00. KULIM closed up only 2 sen today at 4.20, after hitting 4.26 earlier.

Would like to highlight something here about MTOUCHE. It suddenly spiked 30 sen up yesterday to hit 3.80, before drifting back down again (today close 3.60). I don't know the reason for this, but in case people haven't noticed, GPACKET, MTOUCHE and OSKVI seem to be taking turns to move in spurts. I was expecting OSKVI to make another move soon and sure enough it did today. Was hoping for a correction first to pick up some OSKVI, but it didn't happen, so I can only sit and watch my GPACKET and MTOUCHE.

Latest purchases:

BCTTECH: +2,000 (0.77), +2,000 (0.755) ... Total 10,000

FABER: +10,000 (0.59) ... Total 10,000 (2nd round after complete exit earlier)

FABER should be reporting its quarterly mid-August, so am picking up in anticipation of a good set of results showing improving earnings, on the back of its last few successful property launches. Also, prospects of benefits in one way or other from 9MP rollout should provide a downside cushion. One possible negative is potential selling from the seemingly never-ending stream of pref share conversions which were created by its recent restructuring exercise. Still, below a certain level, it would not make sense for these people to keep selling, though it may hamper the upside in the medium term.

/ichithekiller