Good morning folks.

Glove stocks rebounded strongly for the morning session. Up from +5% to +10%. Supemax is up +10.22%.

2 possibilities:

1.  This is a dead cat bounce OR

2.  All the margin players, contra players and weak players been flushed out these few days. I assume that margin calls for Supermax and the other glove stocks would have been triggered these few days thus leading to further blood baths.

Therefore, once the slaughter is done, this leaves the survivors, glove holders with cash and those coming "to pick up the dead chicken". Mega discount for glove stocks.

I don't know the answer.

Let's enjoy the ride for now. 

P/S:

Yesterday I sold off the following trading stocks:

Adventa +3.96%
Kenanga +1.13%
MESB      +4.38%
Timecom  -1.01%

Uncle, if dead cat bounce, then how long does a trend like this normally last? Half a day, like this morning?

Wow 8 out of 10 times u buy sure earn profit one. How did u find out which stock to trade?

not much to do with customers or revenues or profits - they r all good for all glovemakers.

mr bursa market is irrational, imo.

my read it has stable EPF support, lesser RSS shorts and less jittery retailers.
the worst one is SPMX - no big major investors, plenty of punting retailers.

SPMX last 3 qtrs EPS 41.14, 30.58, 30.38; assuming same EPS for next QR (which is reasonable), total annual EPS = rm1.43.

yesterday closing 4.11 implying a PER of 2.88.

right, "stock price is forward looking, prices in all future events" i.e. mr bursa market is saying SPMX will make ZERO profits or loss in <3 years time.

think about that!

Gloves looking more bullish. Is a rebound imminent?

But then again, today bank & tech is red. What if Dow turns green today?

Will tomorrow be a continuation of gloves' reversal of fortunes?

Sometimes, a dead cat bounce can be for the morning session only or a 1 day show. I have experienced it before for glove stocks.

Morning session, my unrealised profit was five figure but by afternoon afternoon session, all the glove stocks retreated and my unrealised profits was wiped out and became unrealised losses.

if mr bursa is irrational; would be irrational during uptrend as well as downtrend.

believe i.b expect gloves profits after q3/21 will be a fraction of current.

Thanks, Uncle...as I'm clearing my gloves after months of waiting...they baru start going up and up fast. So I don't wanna be hopeful and probably take this chance to clear entire remaining balance of 2nd liners because they've been down >40%.

quite negative, so be it.

i see bargain hunting since yesterday but did not close green.

see what happens this afternoon.

the net shorts are still incr for TG and spmx but reducing for kossan.

sold off my pharmaniaga for 60% profit. dropping so much for past 2 weeks 

sold off my pharmaniaga for 60% profit. dropping so much for past 2 weeks 

Your cost price must be damn low to still get 60% profit 

Many would have lost money if bought since few mths ago.

A profit is a profit though, good for you 

everyday is bargain hunting. The question is what is the price that you want to achieve for averaging down and the plan for it.

averaging down to get more share quantity is much more difficult to do compare to buy into uptrend because you are fighting with smart money to collect bargain chips.

check around, is those hardcore glove supporters have turned bearish? if yes, then we entering into despair stage, which is the last stage. 

Sometimes, a dead cat bounce can be for the morning session only or a 1 day show. I have experienced it before for glove stocks.

In the morning session, my unrealised profit was five figure but by the afternoon session, all the glove stocks retreated and my unrealised profits was wiped out and became unrealised losses.

yesterday...

i had profit in comfort and careplus, then turned to loss.

this morning, profit again.

everyday is bargain hunting. The question is what is the price that you want to achieve for averaging down and the plan for it.

averaging down to get more share quantity is much more difficult to do compare to buy into uptrend because you are fighting with smart money to collect bargain chips.

check around, is those hardcore glove supporters have turned bearish? if yes, then we entering into despair stage, which is the last stage. 

Hmm, after Kossan ex-date, now shorties come.

You are welcome. As I have said before, you can always sell in stages (whether to lock in the gains or to reduce the losses). 

No right or wrong approach. Just decide and don't look back or regret the decision.

Switching off the computer, hiding under the bed and refusing to do anything is the worst option! 

everyday is bargain hunting. The question is what is the price that you want to achieve for averaging down and the plan for it.

averaging down to get more share quantity is much more difficult to do compare to buy into uptrend because you are fighting with smart money to collect bargain chips.

check around, is those hardcore glove supporters have turned bearish? if yes, then we entering into despair stage, which is the last stage. 

I'm still holding spx and its over 10k loss as at ytd haha...... but today pump back to below 10k loss liao... dunno want happy or cry lol...

But yea, if today can close at current price or higher, tomorrow hopefully should continue green.....Based on the chart if rebound, the range should be at around RM 5.6-5.8 and if reach there, i prepare to cut loss if the rebound is gone case....

I'm still holding spx and its over 10k loss as at ytd haha...... but today pump back to below 10k loss liao... dunno want happy or cry lol...

But yea, if today can close at current price or higher, tomorrow hopefully should continue green.....Based on the chart if rebound, the range should be at around RM 5.6-5.8 and if reach there, i prepare to cut loss if the rebound is gone case....

i mean big buys yesterday... today looks same.

yeah, i think we r at the last stage... many have already dumped!