Mr Ooi, maybe you were once a journalist years back? Appreciate your clarity, straight-forwardness, simplicity, & factual points written with much sincerity and effort. Thanks for helping me see the steel counters from a different perspective. Will sure consider it.

https://www.bursamalaysia.com/misc/missftp/sblnt/NetShortPosition20210616.pdf

@Cheoki... but Bursa don't really say how much of that 249million of units have been closed by the shorties right? Or is that figure indicating total open positions to date?

@GlovesOff... I'm sure Kenanga would have outsold the aunties & uncles lahhh! LOLLL

@MoneyMakers... true on that summary but only from the angle of Market Cap. But judgment to exclude or include is broader than market cap & more objective, case in point the 4 criteria of the Ground Rules. MUST fulfill ALL the criteria yeah.

WOWWWW awesomeness @myinvestor... so MRDIY <did not> fare better than Supermax. As for liquidity, anyone have visibility? But I highly doubt MRDIY would have higher liquidity.

Cheers @straightarrow!

Cheers GlovesOff! Hoping for the best..

Glovesoff... u think "Russell & bursa" works like vcd-selling stall huh? They've got proper rules & regulation that stipulates how things work professionally. All I'm just saying to people is consider the facts & don't simply let the sharks scare you with half-truths. Period... nothing more nothing less.

#throwback
https://www.theedgemarkets.com/article/newsbreak-mr-diys-ipo-free-float-exemption-raises-eyebrows

Free float issue for MRDIY begin even before IPO...

So yes Mr DIY did rise alot in the ranking [BUT] Supermax has not fallen to or below 36th position. Supermax at that point of final day review was at position 33.

That now leaves us to the other 2 criterias... free float & liqiudity.

Do u think Mr DIY could fare better in [free float & liquidity] than Supermax?

[Ground rules on insertion and deletion from FBM KLCI]

The FTSE Bursa Malaysia index ground rules stipulate that: 1) a security would be inserted in the FBM KLCI during the periodic review if its market cap has risen to the 25th position or above, and 2) a security would be deleted at the periodic review if it has fallen to the 36th position or below. Apart from market capitalisation rankings, the other two criteria that companies need to meet for inclusion in the KLCI are (1) free float of 15% and above, as well as (2) liquidity.

As you know the recent press down of prices for Supermax is highly due to a very good performing warrant (sup-c98) by Kenanga expiring today. One of the strongest weapon that Kenanga employed was thru a news article (heavily cited by a Kenanga analyst) that heavily indicated Supermax's highly potential removal from KLCI index & replaced by Mr DIY. It was certainly a top-notched cunning article written very slyfully.

It didn't totally state the full scope of inclusion & exclusion of a counter from the KLCI list. It also purposefully left out the current position that Supermax was in. Cause if it included then the "scare the masses" tactic would have been watered down by 50% at least.

Saying a company with good FA doesn't deserve a sell down is equivalent to saying bad things shouldn't happen to good people. Things like that only exist in dreams :)

No matter how good/profitable a company is, their share price can never go up in a straight line. Ignorance is not bliss when money is at stake.

Hmmm... actually on second thought maybe MBB wrote that report in rage lahh. Coz Top Glove did dethroned them & took the pole position for the highest PAT in a single quarter in Msian history right? Timing was perfect for a revenge-report.

I think in every quarter, the gang of IB tosses a coin to see who gets to be that silly ol'scapegoat that writes silly reports so that they'll have a "convenient story" (on standby) to publish when they need to drive the price down for their warrant's sake.

So this Q happens to be Maybank!!! Congrats MBB :)

As rightly pointed out by you also, EPF (msia investment godzilla) has been steadily & confidently adding to their glove holdings for the past 2 months, but with increased intensity last month.

In fact it can be said it's (tremendous confidence) coz daily the "acquired" numbers are substantially higher than the "disposed" ones. The golden unspoken hints that will reward those who have been paying attention.

Ben, in your conclusion u mentioned to wait & see the next weeks. Don't think that's enough to wait & see as there's still at least two in-the-money warrants (TG-c74, Harta-c40) expiring on the 22nd March. There's certainly no way the local IB is gonna let the price fly yet. Thereafter, the sun would shine brightly once again.

@TalkC... don't u know ccpuan always got a gazillion of good news + good connection with the media. It's always also good news in the press. But the problem it's never translated to their share price...

Gpacket has never released a QR later than Feb for Q4. Today is already the 2nd March. Usually delays are a bad omen. Better be careful if going in...

Thanks again Ben! Certainly not easy doing such research work.

I've read many times in various articles how non-medical usage of gloves are really contributing to the overall growth in gloves demand & how it will continue to carry thru post-Covid. I think it's very real. Humans are habitual beings. When we're being forced to do something repeatedly, it locks into our subconscious mind. Hence few years down the road we can expect to see ppl in the service line continue to wear gloves as per requirement today.

Thanks @Ben Tan for the update & alert of this abnormally. Hmm.. transactions over-the-counter would probably be a good alternative to save face for jpm. How can they allow Ben to make public their realized losses?? hehe

Just wondering why would the paper loss to date still be so much given the fact that the price is now so near to Jan 4th price?

Btw TG prices are getting more pathetic by the day. The highest generating profit company in Msia just clocked, as of today, the 8th consecutive red candle. Blatant manipulation. How are the IBs gonna unashamedly press down for another 10 more days till end Feb?

Blessed Chinese New Year, Ben & thanks for yet another very informative piece!

Just wondering if you might have the latest numbers to the short on gloves? It's incredible that they have not fully closed their positions until now.

Why is uncle doing April Fool's joke in February? Must be another clickbait.

Bursabets should see who (out sold!!!) the local whales (yesss out sold!!!) on our supposed D-day on the 29th Jan. Sorry to be that fella who had to break the facts. Let's stop being a laughing stock for the whales.

https://klse.i3investor.com/blogs/gloveharicut/2021-02-03-story-h1540280006-TOPGLOV_Fund_Flow_Analysis_on_29_Jan_21_Foreign_fund_Top_Buys_vs_Local_.jsp

And the icing on the cake... when retailers were supposed to be supporting TG, it turn out they were supporting PBBank, which was such a bad move coz on the day both the foreign & local Whaless were dumping they were buying. Thus that day ended with a big red candle. No wonder whales are always so happy..?

OMG!! What a slap on the face for Bursabet who was celebrating the retailers' rise on TG. On D-day where retailers are supposed to be nett buyers of TG, it turned out the exact opposite. Sighhh.. that's why retailers are never stronk in Msia. Majority have the mindset of every man for himself. So it was the foreigners lahh who drove up TG on D-day.

Appreciate your guidance bro! Will go back to my drawing board as identified by your updates above & counter check mine again. U're so much pro than me so I had better learn & improve. Thanks much again Wave Believer!

@SteadyT... So if it was them who bought like crazy before Fri 9am, then could it have been the local IB who was taking profit like crazy after Fri 9am? hahhaha...

Exactly @calvin69... So retail investors must choose who they MUST listen to, to guide their buys & sells. Bankers or ppl in the biz themselves?

Btw in case we didnt know, responsible bankers get periodic update meetings from the ppl in the biz before they write their reports ya. On the other hand, some irresponsible bankers write their reports after happy hour at Four Seasons rooftop.

Yup currently that all important UT line on daily chart that would be at 1553 tomorrow is super critical. But just looking at how last Fri's candle did not breach the 200ema to touch the very near UT line kinda give a good feel.

In any case, after studying the daily chart again & again & comparing with your count (which i could've missed some of your pointers), I was of the opinion that instead of being in Primary Wave 2 now, we could be in Primary Wave 3 already.

This is my count... Primary Wave 1 was from mid-March to end-Jul. Primary Wave 2 was from 30th July to 30th Oct which that low became the anchor to the UT line. In most impulse waves that is usually the case but not all the time tho. Primary Wave 3 started in Nov with minor wave 1 ended on 16th Dec. Minor wave 2 is almost done based on our observations. This week will confirm it for us. Just my humble opinion.

Hmm.. interesting. What convinced you to say so @Ally?

Hey fellow wave watcher.. just wanted to appreciate your consistent weekly sharing of wave counts. I've been following your Sunday analysis & comparing with mine as I'm still learning like a noob. Like you I'm a big fan of the Wave Principle, but only after spending some time trading with TA. Felt WP helps me see further & should've learn it first before entering the market. Even better is when I use WP with TA. So yeah thanks again & keep it up!

Regarding KLCI fri's candle, I thought it stood very nicely on the 200ema line on the daily chart. Hence gives an impression that Wave Y has ended (hence forming the bigger Wave A) & next week would start Wave B. Going by your highest level count, this is only the start of primary Wave 2 correct?

@sslee... do read in articles all over clearly stating that ASP & selling prices are still increasing. These are from ppl in the biz who are more informed than us. SUCB couldn't possibly spell it out openly but they did hint in the name of "covid-19 related expenses". Just in case u couldn't recall, a few certain companies had to "donate" to the gomen's vaccine fund last year Q4? ;)

Focus Malaysia has either been very desperate or short-sighted in their biz sense.

It does seem like a win-win initially for them coz not only is such lame news being probably "sponsored" (cny bonus moolah)... nowadays anything sensational said about gloves will get the much needed eye-ball viewing. That means more ppl will now know there's such a news portal called Focus Msia & their viewership will suddenly spike. They have succeeded!... untillll the boycott happens.

For example, I'll personally never open any link to Focus Msia anymore coz I don't wanna give my click count to a fake news portal. And more and more ppl respond likewise...

Thanks Ben for yet another important update on this ridiculous position that has become a great disease to our TG. You can certainly be that hero that fire up our retail investors to do a GameStop rise for TG! Time is ripe to shoooo away those shorties!

Macquarie has a lot of glove call warrants expiring tomorrow!

To the IBs who artificially push down the mother share prices to cover your expiring warrants... be ready!!

https://klse.i3investor.com/insider/substantialShareholderNoticeOfInterest/7113/26-Jan-2021/13978_2666436078.jsp

@Ben Tan, so with this the shorties have closed at least half of their position by now? Coz total that was loan out was 40mil rite..?

Can we lodge police report against Focus Msia for publishing fake news? I think the onus is on them to verify such allegations before publishing. Else mass media is no diff from a tom dick harry posting on FB.

@tylee81.. with you on that thought too. Seems to feel like our local IB is waiting & waiting for the foreign fund to flow in (to help) pump up the-usually-big primary wave 3. I believe it's all a matter of like "being in the sales biz". You want others to buy into your country's stocks, u've gotta make it so attractive & irresistible, like it is with all glove counters now (unlike 6 mths ago).

Unfortunately, all the IB's hardwork of 6mths retracement is put to jeopardy by our beloved politicians who just can't stop destroying our country's economy. If miraculously we could somehow discover the amount of foreign money that wanted to come in but reversed... we'll all be crying bucket loads.

"Successful investing takes time, discipline, patience. No matter how great the talent or effort, some things just takes time: you can't produce a baby in one month by getting 9 women pregnant." Warren Buffett

Wahhh... just today itself there are already 3 negative-perception-news about Gloves from The Edge. Haven't check other news portals but I won't be surprised if there are equally as many. Looks like shorties gonna start another formidable attack tomorrow!

Just wondering if it is just us that imposes these kinda ban on the market during such circumstances? Does the ban make our market appear like a whimpy kid who can't take a challenge?

Yup yup true that. Can't fully use up their quota on just one battle tho it was a good fight. But wow the rebound up this morning was just so ready & strong. I believe the IBs were already informed last night & would've been on standby.

"However, my suspicion is that there is a higher order game in place here, i.e. it is not simply a game where the short seller necessarily wants to profit only from the short trade itself."

Totally spot on Ben! These players have one of the smartest & most experienced brains in the biz. It just can't be that 1 dimension in the fight. They would've orchestrated even that step where their positions are open to public knowledge for us to calculate & piece all these info together to figure out their game. Stay safe bro.

Posted by Ally Yee Min Ong > Jan 12, 2021 5:00 PM | Report Abuse

Price close above SMA5 and SMA20 shows a strong rebound signal.


@Ally... do be cautious as this retracement is too shallow & too fast for a supposed big correction wave. Personally I feel this wave X rebound is only temporary & might end 1.50 plus minus before continuing with the correction wave which I'll be waiting between 0.95 to 1.05.. Then again coz I'm not Mr Market, I could just be wrong ;)

Ben, truly appreciate & grateful for your most generous write up in this & past few related sharing. It has been an eye opener for me & thus been trading more cautiously.

Just curious looking at how the glove prices have rocketed since last Mon, would it mean that for the short sellers to profit now, gloves prices would have to fall below last Mon's price? If yes then that's a pretty tall order I think. Case in point this morning after the news of the Emergency was announced, there was tremendous weakness in most counters & I believe the shorties should've / would've attacked aggressively. Yet i.e. gloves prices fell nicely on the 200ema lines & rebounded confidently. Harta's rebound was the strongest.

Moreover with the 1.27% left in TG's case, it's beginning to sound like the shorties had better start cutting their losses already?