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Ichi the Killer

Bursa Malaysia stock trading portfolio of nobody really important.

Thursday, June 28, 2007

EOD Update (28 June 2007)

TEKALA seems to have finished consolidating and is now starting its next move. After bottoming at 1.32 yesterday, today it closed up 6c at 1.40, just within striking distance of the high last achieved on 28 March 2005 (1.46 adjusted, 1.54 non-adjusted).

NATBIO continued its move today, closing up another 13c at 1.93 (day high 1.94). I was expecting a short correction after so many up days, what with the current overall bearish trend, but there seems to be some very motivated buyers. Furthermore, it closed very near its day high which is usually a good sign.

SCOMIEN was the real surprise today, closing up 43c at 2.27 (day high 2.30), after a brief 2 days' rest. This stock has been moving up and down with little volume and even after such a big move, I would say the volume is still not substantial. What this shows to me is the somewhat amazing lack of sellers even at significantly higher price levels. Think I can hold on to it for a while.

Oh yeah, just in case there are some IT-illiterate idiots who don't know how to "search blog" but insist on going around making insinuations about others (don't get me wrong, that's what makes these people idiots, not just because they're IT-illiterate) here's a link to when I first posted my purchases of SCOMIEN in August and Sept, 2006:

http://ichithekiller.blogspot.com/search?q=scomien ...... Happy?

Latest disposal:

ENGTEX: -5,000 (1.58) ... Balance 0

(As explained in the Cbox on Monday when I sold, this stock went as low as 1.27 after I bought at 1.57 during the steel price increase announcement. After that it rebounded as high as 1.69 but started correcting again. Given that I hadn't originally bought it at a solid base (was driven more by the steel price increase rumour), I didn't want to risk it turning into a losing position again, given current bearish sentiments. Let's see how low it goes this current consolidation. In the meantime, I've held on to my additional purchase of HIAPTEK and it's now again gone below my 2nd purchase price of 2.11. Eh, hold on ... looks like it closed back at 2.11 today).

P.S. after a few days of pain, my OLYMPIA & OLYMPIA-WA seem to be finding some firmer ground. Hope a sharp reversal is on the horizon.

Friday, June 22, 2007

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

Tuesday, June 19, 2007

Forget about TA or FA

I've been "watching" this dude who writes for The Star Business for quite a long while. You all know who right? This guy by the name of Jose Barrock. Okay, I'm assuming he's a real person who actually exists and not just some pen-name cooked up by someone hiding behind. For those who are not familiar with this "writer", just keep an eye on what he writes everyday in the Star. You will see that, with an amazing level of frequency, he often comes out with breaking news which inevitably lead to pretty good price moves in the stock he has written about on the day the "news" is published. I mean a really amazing level of frequency. And I mean some pretty significant price moves. Just take this piece yesterday about Ranhill.

http://biz.thestar.com.my/news/story.asp?file=/2007/6/18/business/20070618082346&sec=business

The thing hit limit up before it was suspended. Of course the company itself quickly came out to deny it that very same afternoon. So, where did this "writer" get the info from? Apparently, it was from his "sources", probably the same ones who gave him all the other breaking news in the past (which incidentally, mostly ended up being denied by the companies involved).

So what sh*ts me is this. How is it that this joe has managed to snag on to the greatest money-making scheme around and is getting away with it? Forget about all the different arguments and viewpoints being thrown around by people debating this issue, such as:

1. Nobody is forcing you to believe him and to buy the stock.

2. If you are a serious investor, you should do your own homework first before buying into the stock, after determining that it's a good investment.

3. It's your own fault if you're stupid enough to invest based on rumours and hearsay.

Blah blah blah ..... all the above (and other similar) arguments basically miss the whole point. I personally would never buy anything that has run up based on what this fella has written.

The point is, despite how smart you and I are, there will be people who buy based on what they read in the financial news. The point is, despite what the smart alecky investment experts who express comments like those above say, prices do move ... significantly ....with attendant volume spikes. The point is, from these observations we can safely surmise that someone (or some people) is/are making a helluva lot of dough off this hokey scam (you make your own conclusion who). The point IS and I repeat .... how in the world did this joe manage to latch on to the greatest money-making scheme around AND is getting away with it? What I want to know is, "Is it perfectly legal to run this kinda hokey scam"?

So what ACTUALLY is my point, you say? I don't know ... maybe I'm just jealous.

/ichithekiller

Thursday, June 14, 2007

EOD Update (14 June 2007)

Saw this article in The Star today:

http://thestar.com.my/news/story.asp?file=/2007/6/14/nation/18022987&sec=nation

This follows another similar incident which was reported just yesterday (the perpetrators chased a couple down and rammed their car). I don't know if it's just me but I see reports of such crimes, including robberies, snatch thefts, slashings, etc. in the papers almost every day or two and a significant number of them seem to be happening in Johor (as did these 2 cases in the last 2 days). Yeah, that's the state with the CM who refuted Pak Lah's suggestion of a "no passport" easy access policy between Singapore and the IDR. Who also refuted the need for a Bangsa Malaysia amidst Pak Lah's calls for unity. Who also rejected the notion of meritocracy as not being suitable for our society. With all these violent crimes going on in his own backyard on a daily basis, you'd think he had more pressing things to think about than going around and "lawan tauke". You'd think he would be constantly breathing down the police's necks, demanding for them to do something about the situation, to protect his people. But nope ... nothing. At least not that I can see. So what gives? Meritocracy not suitable for what reason again?

The IDR is a massive undertaking which will require a lot of effort and various factors coming together at the right time to make it a success. How will incidents like these give foreign investors the confidence and sense of security to invest in Johor, to work in Johor and to bring their families to reside there? What kind of country have we become where people can just go around hunting other people down in their cars while carrying parangs? Can nothing be done? Is the situation really that hopeless? Where can the poor innocent victims turn to when nobody seems to care anymore and such things happen on such a regular basis? What more can they do really, when justice never seems to be served and villians often seem to just get away scot-free? Today, there was another Star article stating a multi-agency crackdown on Xenon lights. Sure, Xenon lights may be a hazard, but is it really more important than tackling the crime issue? Shouldn't resources be used for more pressing issues first? I give my thanks that something like that didn't happen to anyone close to me (touch wood). I really wouldn't know what to do. Perhaps I would take out RM100,00/= and put out a contract on the buggers' heads. Would that be a sufficient sum? What else could one do?

Latest purchases:

NATBIO: +10,000 (1.51) ... Total 20,000

Latest disposals:

TAMCORP: -10,000 (0.92), -5,000 (0.95) ... Balance 5,000 (Looks like it's still holding there)


/ichithekiller

p.s. OLYMPIA-WA surged 16.5c (+52%) today to close at 0.48. This means I'm up 131% in 3 weeks. Unfortunately I had only accumulated 10,000 units, intending to scale in as usual. So 131% gain equals a mere RM2,725 profit. This is one of the disadvantages of scaling in cos' sometimes it doesn't give one a chance to add on at the right point. Thinking back, I should have scaled in at RM5,000 per pop instead of 10,000 lots, for such a low-priced warrant.

Thursday, June 07, 2007

EOD Update (7 June 2007)

Selamat Pengantin Baru Pak Lah...! Quite a lot of counters moved upward today, despite the CI going slightly south. TAMCORP has been moving steadily for a while now, with the pace picking up recently. Today it underwent a reversal after hitting a high of 98.5c ... closing up 1c only at 92c. Candlestick chartists have a name for this kind of pattern, though I don't know what it's called, I know they think it signifies a top has formed. Let's see if it pans out that way, this will be an interesting observation. Anyway, I have been disposing slowly with only half my original position left. With an average cost of 30c, I think I can afford to give it a bit of latitude, though I'm certainly not gonna argue with the TA experts out there. Maybe I should unload a bit more and just hold 1/3 of my original position for the time being.

NATBIO has come down to my original cost again, after a sudden surge to 1.66 last week. I consider this (rightly or wrongly) to be an accumulation pattern and will be looking to increase my position if overall conditions are right.

Meanwhile, TEKALA is continuing its move. Today, it surged to add on 18c to close at 1.25 (day high 1.29, +22c), strongly surpassing the April 2007 high of 1.18 and December 2005 high of 1.25. Perhaps it was due to the bullish article which appeared in StarBiz today. You can check out this article here: http://biz.thestar.com.my/news/story.asp?file=/2007/6/7/business/17941473&sec=business

Latest purchases:

LINGUI: +1,000 (2.99), +1,000 (2.97) ... Total 5,000

NATBIO: +10,000 (1.55) ... Total 10,000

Latest disposals:

ANCOM-WA: -10,000 (0.195) ... Balance 10,000 (was forced to sell to protect profit, subsequently rebounded, today closed at 0.285)

TAMCORP: -5,000 (0.735), -5,000 (0.80), -5,000 (0.885), -5,000 (0.95) ... Balance 20,000

MUHIBAH: -1,000 (6.80) ... Balance 5,000


/ichithekiller