yep, all glove counters prices may be capped now becos:

https://www.thestar.com.my/business/busines...-glove-industry
https://www.nst.com.my/business/2020/08/619...ngerang-complex

yes, that petronas news is the one that spooked gloves this morning.

not vaccine or DT or russia.

consolidation will come for sure... 2-3 years?

from TG MD:

Petronas is producing Butadiene (The main material for nitrile glove), not spend money to build factory and competing with the big 4

Petronas is producing Butadiene (The main material for nitrile glove), not spend money to build factory and competing with the big 4

if that is the only thing they are doing, it should be good for glove makers - better supply, better prices for butadiene!

but guess the market is spooked as they do not know what else petronas is planning.

still not see ..... 
Lemme divert attention ..... ah..... look see....



and the very important stupid vs clever ...


comeon ..... don't lemme down ... 

Loved such setups ...





probably a decent time to consider selling for a profit .... 

Yeah man, luck don't come twice.

Pharma overall still a shitty company , if i hold past today and this goreng stop i doubt i can ever escape from my high rise   

lol ... this time... it's different .... unlike UWC.

remember UWC ?... guess what?  same breakout la....

if I was aware of UWC .... I would have bought..... and probably would still be sitting on the trade.
anyway .... it's not bad an idea to sell for a profit (either today or tomorrow) cos clearly such vertical movement is unsustainable....   

Yeahlo, i mess up on the UWC one. You know the mega June sell off in US, that one got me scared.  I liquidated many of my march position, thinking history will repeat itself.

Then everything hit all time high. What la.... 

But nvm, market always open. With this euphoria i can confirm there will be a sharp drop. I have not seen so much interest in Bursa in a very long long time.

What I liked about it ... was what was written in the notes.... company operated at only half capacity but yet delivered pretty good numbers....
and the b/s looks good too.

and the charts... I noted ... or imo ... the chart was actually have a decent uptrend .... it consolidated in Feb after the earnings (perhaps the market was expecting much more) ..... but then C19 March correction hit ..... which brought the stock tumbling down.... if I was aware of the stock... I would have gone in big on this fella.

This Pharma is going to trap a lot of retailers in it, from what i interpret from the chart lah

Correct or not Boon3

Whole klse profit taking in action

Posted earlier already ..... ok....... 

Just now i draw chart, first TP 5.6, 2nd TP 6.6.

Once it reached 6.6 terus slam down, with the huge volume, clearly it trap a lot of retailer in it. For how long i seriously don't know lah, look at the movement later on.

Volume is just an indicator, most importantly is the price movement and the chart shape. Speculative stock (Penny stock often appear in top 30 volume) and fundamental wise stock has different chart movement.

If u look at those penny stock, when consolidating time it appear a huge volume, price did not move at all, then your time is wasted if u enter, the best time is to enter when break out. When it up another 50-100%, then the volume increasing, when it reach peak, the volume is huge until share is trading about 30-40% of the total shares, then at this time u need to consider to sell all the stock because u don't know when it will peak.

But then the above stock cannot apply on other stock, quite often those fundamental good counter hardly can trade above 10% of total shares, so when price move up and volume declining, it could mean the shareholders is holding the stock tight.

In summary i would say wary of the stock appear highest volume when the price is at peak.

As usual .... hard to warn others ....

hmmm whole asia is green except for KLSE