EOD Update (22 June 2007)

After MYCOM announced its JV with WestCity to develop a piece of land in Mont Kiara, the share took a pretty steep tumble. Today it continued to fall but bounced off 1.28. Olympia, which I think was to a certain extent affected by Mycom's fall, has also been correcting in the last two days. During the later part of today, I think I saw support coming in for both counters and their warrants (could be just my imagination). I sold some OLYMPIA-WA the other day (reported in Cbox), but this afternoon decided it was worth a punt to get back in. However, I've learnt my lesson from the last run-up when the mother share went up far more than the -wa, so this time I'm concentrating more on the mother. Admittedly, I'm taking a risk by adding at higher prices in higher volumes, but I think it's worth taking.

I'm also trying to build up a sizeable position in another counter which is very, very thinly traded. Am declaring upfront again that I will not be disclosing trades in this counter, same as for EBWORX previously. For those who think EBWORX is speculative, to me this counter is even more speculative.

Meanwhile SCOMIEN has been moving quite nicely these 2 days without many people noticing, I think. Have been waiting for this for a while once they announced the acquisition of MTrans.

Latest purchases:

OLYMPIA: +25,000 (1.02), +10,000 (1.03), +5,000 (1.04) ... Total 40,000

OLYMPIA-WA: +10,000 (0.465) ... Total 20,000 (see disposal below for end balance)

MYCOM: +8,000 (1.34) ... Total 8,000

MYCOM-WA: +5,000 (0.755) ... Total 5,000

Latest disposal:

OLYMPIA-WA: -5,000 (0.475) ... Balance 15,000


/ichithekiller