Bursa Malaysia stock trading portfolio of nobody really important.
Thursday, August 30, 2007
EOD Update (30 August 2007)
Song: 必杀技 (Bi Sha Ji ) By: 古巨基 (Leo Ku)
LIONDIV closed up 50c at 10.00 today, a new record high, after hitting an impressive day high of 10.30. MUHIBAH rose another 70c to close at 8.90, still some way from its previous high of 10.70 hit on 26th July, 2007. Perhaps it was boosted a bit today by this bullish article in The Star's business section, entitled "Foreigners keen to buy Muhibbah’s businesses":
Update of last few days' activities below. After a period of adding more and more counters to my portfolio, I am basically trying to reorganise it to focus on a smaller number of counters now. Especially in view of the many bargains produced by the recent market rout, there is added incentive to be more focused on selected "strong" picks.
Song: 最爱你的时候 (Zui Ai Ni De Shi Hou) By: 周传雄 a.k.a. 小刚 (Zhou Chuan Xiong/Xiao Gang)
MYCOM, OLYMPIA and their warrants made surprising moves today, despite the overall drop in the CI. MYCOM ended up 19c to 1.21 (day high 1.26, up 24c), while OLYMPIA ended up 11.5c to 0.72 (day high 0.74). Their warrants put on 25.3% and 26.3% daily gains respectively. MYCOM was covered recently by Jomaropol over at HotStocks. You can check it out here:
I don't know if Joma and some of the fellas over at HotStocks have the Midas Touch or what, but many counters covered by them seem to spring into action shortly after. Whatever it is, I have to thank him for talking about MYCOM. Did I mention he also talked about FOCUS, which incidentally I also have? ke ke ..... check it out here:
Was away, so missed all the exciting action again last Thursday evening and whole of Friday. Apparently the CI was down around 60pts at one point but rebounded strongly to close down only 16 pts or so. Many counters were down big but also followed the strong CI rebound to close way off day lows, with some even closing in the green. So looks like I missed some good opportunities again, but who knows, if I'd been around I may not have had the kahunas to step in in the midst of the so-called "bloodbath" ... or maybe prices will suffer further rounds of selling, so that what in hindsight now looks like extremely cheap levels last Friday at its lowest points, may actually go even lower in the near future. Updating recent transactions all together:
Latest purchases:
APB: +3,000 @ 1.68 ... Total 13,000
MUHIBAH: +1,000 @ 6.70 ... Total 8,000
EBWORX: +10,000 @ 0.41 ... Total 10,000 (Back in for 2nd round after complete earlier exit with good profits)
Note: US Fed last Friday cut its short-term discount rate by 50 bp, instead of a Fed funds rate cut. Dow rallied strongly to close up 233.3 pts.
Song: 最熟悉的陌生人 (Zui Shu Xi De Mo Sheng Ren) By: 萧亚轩 (Xiao Ya Xuan, Elva)
Decided it was a good point and time to increase my stake slightly in APB today. However, did not want to increase total exposure (and number of stocks in portfolio), so had to make a tough decision to cut something out. In the end, I decided to cut out my CYMAO at a small profit. Acquired in end-June/early-July 2006 at 1.04 and 1.05, this counter subsequently went as high as 1.89 on 20th Nov 2006. This translated to a gain of 80% in 4 1/2 months, but I did not take any profits. It subsequently corrected to 1.59 before touching 1.88 again on 24th Jan 2007. This was my second chance to at least take some profits (I know what they say about a stock failing to make a new high and forming a double top), but again I did not sell even some to lock in some profits.
Partly due to the global correction starting end-Feb 2007 (started by steep China sell-off), it went as low as 1.29 before rebounding back up to 1.78 on 3rd May 2007. The next day, 4th May, it touched 1.78 again before failing to break through and closing flat at 1.76. On 7th May (the next trading day), it closed a further 6c down at 1.70, fully retracing and going below the 3rd May bull bar which formed the recent high. Did I see this and sell out the whole thing now? Nope.
In hindsight of course, all this seems crystal clear now, but at that time I must have been either too lazy or too dumb to see the signs. I had built up a portfolio of timber-related stocks and was so confident with the sector fundamentals going forward that I didn't bother to review individual stocks regularly. The rest of the story is downhill all the way, resulting in me throwing out the whole thing at 1.20 today (a mere 14.8% return over 13 months, at least it's much higher than FD rates, but that's no excuse).
It might probably rebound now from this level. If it does, then serves me right for mucking around with the market. This also shows that even if you're lucky enough to buy correctly most of the time, you still need to know how to sell right too, otherwise at the end of the day, you're still a schmuck.
Song: 转眼之间 (Zhuan Yan Zhi Jian) By: 萧亚轩 (Xiao Ya Xuan, Elva)
Big down day for the Dow last night, closed down 387 pts or 2.83% ... Some stocks I've been eyeing are coming close to my target prices. Just one more down day in the US should do it ... just oooone more mid-size one though, don't wanna overdo it to the point of no return.
Song: 全世界只有我爱你 (Quan Shi Jie Zhi You Wo Ai Ni) By: 刘嘉亮 (Liu Jia Liang)
Updating last few day's transactions in one go. Please note most transactions were done by "remote control" without access to any trading screen and do not signify that I think the overall market or relevant stocks have bottomed.
