Fingers do more exercise.
Then can speed up like bolt.

Say already angkat balik and say joking only.
Asking for trouble ah?

Sreen shot of the trade detail for the last few minutes.



JCY was trading at 77 / 77.5 before 4.45.
Then the 77.5 queue disappeared (this is a norm - it happens a lot of a lot of stocks)
Then after 4.45, as usual the buy/sell bids starts flashing like a christmas tree.
When it all settled for the trading at last, buy bids at 78 sen was the call.
Which you see in the blue line 18000 transaction done at 0.78.
Now I would not conclude that this is ONE shark bite because any buyers who bid at 78 sen would be included in that 18000 transaction.
By the way if the screen shows 18000 it means 1800,000 shares only.
And because of this, this made the nice little hammer mentioned by Edwin.
Hammers are supposed to be good candles but instances like this, I feel that it is suspect or non conclusive.
That's my opinion and I could be wrong.

I did commented on JCY on Wednesday.
http://forum.lowyat.net/index.php?showtopi...20&p=55048018&#
Post #722.



Chart for JCY.

My chart reading could be lousy here but I don't see any conclusive sign that JCY will rebound soon despite its huge selldown.

I strongly feel that stale bulls is going to be a huge issue for JCY.
Repeating what I mentioned again on Wednesday, I see too many making the assumption that JCY had dropped too much.
They bought at 1.20.
They bought at 1.00
They bought at 0.90.
They bought at 0.80.
And every time, they buy, JCY ends up lower.
And they became forced investors.
Until the market weeds out all these forced investors/stale bulls, I doubt JCY will be able to make any significant rebound.
And what about confidence issue?
How many will still dare bet on JCY given the way it had been plunging since Aug?

My call is this is too risky a stock to bet on now.
You have to be a real good trader to trade such a stock.

LOL! You could have replied me without quoting me. That way, you don't have to spoiler my long wind. --->

You posted your reason?
Based on one indicator?

Fun time.
What do you think of charts?
Charts for me is roadmaps.
I use road maps only when I want to go on a specific place and I don't let the road map tell me where I should go.
This is what I mean by saying I used charts but charts don't use me.
Is there a difference?
And indicators? Indicators are like signboards on the road.
For some, signboards, they are useful.
For some they are damn confusing.
Drive around and you will agree with me.

... it's Saturday.

Palm Oil news.

Crude Palm Oil Rises; Supplies to Limit Upside

Crude palm oil futures on Malaysia’s derivatives exchange ended higher Friday, reflecting technically driven buying following a steep decline over the past two weeks.

However, the upside is likely to be limited by rising palm oil stockpiles in Malaysia, the world’s No. 2 producer, trade participants said.

The benchmark December contract at Bursa Malaysia Derivatives ended 2.7% higher at 2,415 ringgit a metric ton after moving in a range of MYR2,376-MYR2,448 a ton.

Palm oil stockpiles in Malaysia probably rose to a record 2.43 million-2.50 million metric tons in September, reflecting seasonally higher production and tepid export demand. The Malaysian Palm Oil Board, the industry regulator, is scheduled to issue September crop data Wednesday.

The surge in stockpiles comes as global vegetable oil supplies are rising, thanks in part to a fast-paced soybean harvest in the U.S. Midwest, just as slowing economic growth in major consumer countries is cutting into demand, which could drag palm oil prices to a three-year low in coming weeks.

"Palm oil prices will likely trade with a downward bias next week, as investors are likely to liquidate positions following the Malaysian cabinet's decision to delay a decision on the proposed crude palm oil export tax cut," a commodities trader at a Singapore-based firm said.

The cabinet Friday said it needed more time to study a proposal to cut the export tax on CPO to 8%-10% from the current 23%, an aid to Commodities Minister Bernard Dompok said. The official said the government would make a decision soon.

In the cash market, refined palm olein for October was offered at $790/ton, while cash CPO for prompt shipment was offered at MYR2,250/ton.

Open interest on the BMD was 166,684 lots, versus 164,431 lots Thursday. One lot is equivalent to 25 tons.

A total of 41,744 lots of CPO were traded versus 33,333 lots Thursday.


Ending BMD Crude Palm Oil (CPO) futures prices in MYR/ton:

Month Close Previous Change High Low
Oct'12 2,248 2,189 +59 2,260 2,200
Nov'12 2,234 2,275 +59 2,365 2,292
Dec'12 2,415 2,352 +63 2,448 2,376
Jan'13 2,480 2,438 +42 2,511 2,445

Tax cut is proposal only.

JCY?
If trading/punting on the stock market is like betting on horses...
where the punter takes the racing guide and study the horse current and past race performances.
Stock market traders/punters meanwhile look at the current form guide (6 month trading history) and they make a bet.
Sometimes that's good enough for the trader/punter.
But on occasion, it's better for the punter/trader to learn more of the history of the horse stock they are betting on.

JCY got one heck of a history.
Till today, it is moh tak teng.
Heaven, earth, no defeat man!

Picture better than me writing wind a thousand times long.



The first two movements.

1. The first downfall.
Heroes die a thousand times?

2. The Urban legend rises.
From see kok, JCy fly to 1.60+
This is Heaven, earth no defeat man!

3. Current movement.
It's from 1.60 --->>> ___ ?



Not say JCY cannot touch but because the movements are so geng, if you want to be a bottom lover, make damn sure the downtrend is broken nicely, then only bet.
Otherwise, one could end up as a forced investor easily.
That's me advice.
Don't try to be early.
Don't try guessing where the bottom is.
Let the market show hand to us first.
Make sure down trend is broken.
Yes, we won't get at the lowest price but if a strong reversal is to happen, there is plenty of meat to eat.
Look at urban legend movement.
It started from see kok.
If we had give up the bottom bit and buy at say 55 sen, won't we still be happy?

Woaahh!!!
Man propose God dispose.. such poetic brilliance!

Woah!!!! I
wasn't expecting my comments to be investment advice.
You know I am really a male chicken talker and for all its worth, remember this is a free public forum and do take my comments with as much salt as possible.

Holding hands?

Chef Long, long or short today?

What is conditioner takerover? Shampoo?

Didn't Latexx had a takeover thingy not loo long ago? Now another one?

Found the old one.

http://biz.thestar.com.my/news/story.asp?f...usiness/9171066

Tuesday July 26, 2011
Analysts puzzled why Latexx’s takeover bid for YTY failed
By SHARIDAN M. ALI
sharidan@thestar.com.my

PETALING JAYA: Research houses are surprised and puzzled that Latexx Partners Bhd's proposed takeover of YTY Industry Holdings fell through as the earlier indications were positive.

YTY, incorporated on April 12, 2010, is involved in the manufacture and sale of rubber examination gloves comprising natural butadiene rubber and natural rubber gloves.

CIMB Research said the aborted Latexx-YTY merger was a negative surprise as indications from both parties before the deadline was optimistic.

“The biggest winner from this is Hartalega Holdings Bhd, which remains the world's largest nitrile glovemaker.
Rubber medical gloves being produced at a Latexx Partners plant in Kamunting Industrial Estate.

“We were under the impression that despite some differences, there were enough positive factors as incentives to ink a deal,” it said in a report yesterday.

On July 21, a day before the deadline for Latexx to execute the sale and purchase agreement, Latexx went back to YTY and indicated its intention to make a revised offer (from the original RM1.25bil), based on its findings from the 45-day due diligence. YTY, however, rejected the offer on the very next day and the offer lapsed.

Latexx proposed to take over YTY for RM1.25bil to be satisfied by 30% in cash, with the balance of the assets being swapped for Latexx shares. The deal, if it went through, will be the first takeover of a rival glove maker in four years and would have made Latexx the world's largest nitrile glove maker.

Maybank IB was puzzled on the rejection, noting that “at the indicative revised offer price, we understand that Latexx is still the highest bidder for YTY among the glove-makers/private equity funds.”

“In our view, YTY shareholders are still keen to sell the business but the sale could be hampered by the fact that it could still be much cheaper for the other glove makers to build new production lines from scratch rather than to pay an estimated nine times forward price-to-earning ratio (at a RM1.25bil price tag).

“We also do not see any technology value-add to the acquirers as YTY's technology is similar to the industry's with semi-auto stripping and packaging systems (except for Hartalaga, which has the most advanced technology),” it said.

However, Maybank IB said given that the other glove makers were all vying for bigger market shares, they might re-look at YTY.

“Acquisition of YTY should result in an overnight capacity enhancement, enlarged earnings base and longer term value creation via economies of scale and pricing power.

“Potential buyers are Top Glove and Hartalega, given their respective valuations, ambitions and businesses,” it said.

Possible but my initial reaction is 'Come more time?'

Dunno. You have Uncle Lau's direct line?

Latexx had been performing very good, it has moved nicely from 1.55 region in Sept to close at 1.79.
Outperforming sector leaders TopGlove and Supermax.

http://www.theedgemalaysia.com/business-ne...ver-offer-.html

Chef Long is good stuff.

Cheh!
Need to do such stuff meh?

Latexx: Austria-based Semperit AG offers RM2.30 per share, RM1.77 per warrant for Latexx

http://www.theedgemalaysia.com/business-ne...for-latexx.html

Update Latexx gets RM603m takeover offer from Semperit at RM2.30 per share
Business & Markets 2012
Written by Cindy Yeap of theedgemalaysia.com
Monday, 08 October 2012 10:39
A + / A - / Reset

KUALA LUMPUR (Oct 8): Austria-based Semperit AG is offering RM2.30 per share and RM1.77 per warrant for glove-maker LATEXX PARTNERS BHD [], according to a statement on the RM603 million conditional offer from the Vienna-based company on Monday.

The conditional offer of RM2.30 values the company at RM511 million on its existing share base. Latexx chairman and CEO Low Bok Tek had agreed to divest his entire 29.3% stake in the company and 35 million warrants, the statement said.

Semperit, which wants to expand its global footprint, has entered into a put and call option with other Latexx shareholders to acquire another 9.1% equity interest of the company and 9.6 million warrants. This gives Semperit 47.3% of Latexx from key shareholders, according to the statement. Semperit does not intend to retain the listing status of Latexx.

Trading for Latexx was suspended on Monday morning. It was last traded at RM1.79.

This post has been edited by Boon3: Oct 8 2012, 11:17 AM

Add oil Chef!

Chef Long now Big Wok!