Old school is one thing, being deceptive is another. I don't like to talk bad about other people, but based on his behaviour/advices in the past, he has definitely earned a reputation here.

To me at current prices glove counters have solid fundamentals, probably most solid compare to other industries. Yes profit is declining and expect to decline for say another year, but this concern is already priced in, which makes gloves cheap compare to its fair value. Can buy and keep in freezer, earn good dividend, wait for ASP to stabilised, and reaped profit when poor sentiment is over.

Glove counters rally kuat2 today. Siapa cepat dia dapat. Don't miss the boat!

KYY really is contrarian sifu. Do the opposite of what he says sure profit banyak2

@limitup123 Sir, sini kaunter Harta. Ada ape berkenaan dengan bitcoin?

Today glove counters rally up. Quick question, QR report this afternoon, or next week?

@jolynce I think most of us can't really time the market, either too early or too late, rarely on time. Which is why its so common to tell yourself, "oh if I have bought so and so, at such and such time, I could have made this amount of money!" Hindsight 20/20. If our timing so tepat, we all could be multi-millionaire/ billionaire by now! To me it's a win as long as you can earn above a certain return at a given risk level (eg lower for bank stocks, higher for tech stocks)

I am also used to this feeling. More than a year ago, I invested a substantial amount into Genting when most sensible investors are running away from the counter. Whenever Genting reached new low, I top by selling off gloves (which was rising at that time). My only regret is I stopped topping up when price reached RM3.3X. I shouldn't have doubt myself, but with paper loss of 35% percent and increasing, I just lost my cool. Yet at the same time I am quite confident that Genting will one day recover. Now with Genting near RM 5.2X, I gained some profit, though my timing is off by about 6 months!

I guess I am still making the same mistake. I began buying Harta 6 months ago when Delta variant was spreading around the globe. Harta was around RM9~10 at that time. Again my timing is 6 months off and currently sitting around 20% paper loss. But to me Harta is in a better position than Genting was a year ago, so I am not worried. My timing may be off, but I am quite convinced with my reasoning that glove will one day bounced back.

Of course never go all in into one counter. Basic investment 101. It is just too risky, even you're dealing only with a blue chip counter.

Even if I plan to cut loss, I want to see next QR report. If report is good, I can cut with a lower loss. If report is bad, you know this counter no hope, cannot touch, make peace with yourself and cut loss.

I plan to stay for the long run (at least 3 quarters). On your way out, please press price low low, going discount shopping.

Please go below RM5. I plan to top up more.
@anxious Really depends on your purpose. If you buy thinking it will go up by end of this year, that's not going to happen anytime soon. The next two quarters will be worse than their previous, scaring lots of investors away. So downtrend is very likely. However if you think the current price is below its fair value ( I personally think it is), the lower the price the opportunity to accumulate. That's my plan, accumulate when price reached at certain level (for example RM5.5, RM5, RM4.5...etc). How much I plan to accumulate depends on how much I can get from selling my other recovery stocks. I don't want to overdo it because my money will be stuck for around 2 years.

KYY signaling his return to glove stocks. KYY listener's sell to him cheap2, he laughs all the way to the bank.

Glove counters already near 2021 low. Buy in anticipation of rebound!

With current sentiment, not sure even a good QR would push price up to RM6.

Currently most counters are experiencing a downtrend. Just have to wait for things to settle down.

Coloured me surprised. Within the past 3 days. Harta share price lost almost 10% of its value even with no significant news. The other glove counters also experience similar losses (except Supermax, the CBP ban is a significant measure). Looks like poor sentiments still weigh heavily on glove counters.

Most likely Harta's performance follows Kossan's (50% fall from previous quarter). If Harta's performance equals or exceeds previous quarter, RM7-RM8 can beli.

Very unlikely this quarter will be better than the previous quarter.
1. EMCO causes temporary shutdowns in Selangor (pretty most if not all of Harta's output)
2. Harta's capacity operating below 100% (on the top of my head around 60%-70%) due to SOP measures
3. Falling ASP glove prices. Moreover in previous AGM, Harta boss mentioned no increase in demand despite increase in demand due to Delta surge. This indicates that buyers may be waiting for price to fall.

A potential increase in demand is due to Harta selling to some of Topglove clients due to CBP ban (which was lifted recently), but I doubt it would be enough to exceed previous quarter.

With the extremely poor sentiment across the entire glove industry, I am not sure if Harta latest QR would make much of a difference.

I thought this was only a one time drop (which make yesterday's purchase a technical buy), but this downtrend seems to sustain just like what happened a month ago.

I have very limited funds, so I have to wait and see. Will definitely buy at RM5 though.

Also waiting for RM5.5 for small top-up and RM5 for major top-up. Belum relased QR pun sudah ada banyak aktiviti.

oskchoon target price is a wet dream for all big fishes and ikan bilises.

Which is a good thing @goody99, however I think the pandemic has increase the awareness of hygene, which translate to increased demand in the coming years. Even in the endemic phase, we can't slack off hygene, so this promises sustained demand for gloves. No wonder China is ramping up their glove sector. If glove is a declining industry, they would not expand as fast. Just my 2 cents.

What will really change the glove landscape is a new invention such as "self-sanitising" gloves that does away with disposable gloves.

@Agree with everest29029 that if Harta breached the labour law, they are probably unknowingly doing it. I don't see a logical reason for Harta to be knowingly conducting forced labour, especially if your main customer is the US. But if you're buying Harta in the short terms it is more of a gamble. Even our banking sector has a better performance at a lower risk. But many of us here are waiting for opportunity to buy it at a discount, anticipating that once the poor sentiment and issues clear up, the price will return to normal.

To me, the likelihood of a ban from CBP is low but not zero. So can I understand why some retailers don't want to take such risks, even if it is just "some allegations". Poor sentiment +additional risks is just not worth it to some, even many of us know the company is undervalued. As for me, I am accumulating and keeping it in the freezer. Will take it out when price goes back to RM6 or RM6.50

@Pgraduate123 actually a lot of developing countries (China in particular) is under forced labour list:

https://www.cbp.gov/trade/programs-administration/forced-labor/withhold-release-orders-and-findings

If Harta really gets the ban, colour me very surprised because
1) Topglove kena ban a year ago. Harta have all the time they need to sort this issue out to avoid following top glove shoes.
2)Harta sells a large portion of the gloves to the US and Europe. Would be very foolish to not consider the forced labour issue in advanced. It's like purposely eating pork in front of your Malay friend. Won't stay friends for long.
3) Harta is known as one of the "good guys" in ESG. If Harta uses "forced labour" what does it says about other glove companies in Malaysia? US might as well start making their own gloves.

After glancing through the forced labour list, I have some questions. 1) it mostly affect manufacturing industries, so there are no forced labour in the service industry? 2) Aside from Japan, there is no forced labour in Europe, Middle East and Oceania countries?

@looting Will also top up if Harta is banned by the CBP. Just the allegations alone can shave the price off by 5%, imagine the actual ban.

Small potato here too. I know very little about labour laws so I cannot say whether there is or isn't merit to such allegations. Just have to wait for authority (including CBP) to investigate and make the right decision.

Bang miskin also not used to day trading (this fella here rugi more than untung) but when opportunities present, take a bit of profit and add extra telur on my nasi kosong.

Bought before reading the news on Andy Hall's latest allegations (@cerubic). There was some kind of news... no wonder the sharp drop.

Agree with Ryan83 kinda in line with my expectation.
Anyway just bought some at 5.83. Not an easy decision since have to sell off some other recovery stocks. If Harta rebounds this afternoon, can take profit and make some pocket change.

Agree with @everest29029
If there is a leak in bad news, we'll probably hear some gossips by now. I suspect investors are jittery. One big push and many retailers rushed to sell.

However if the QR turns out to be good, price may shoot back up above RM6. Let's wait and see.

Weak support at RM5.90. Once this break, price will free fall.
Quite surprised with the sudden price fall. Did the latest QR leaked early, news from CBP, or did I invited big fish to press down price?

Price suddenly drop? What's the latest news?

Genting trending up, small correction in price is healthy, and when down a good opportunity to accumulate. Blue chips like Genting must be patient. Kalau nak get rich quick there is always tech kaunters to beli.

Maybe if next QR is real disaster, can kutip below RM5. My gut tells me it's probably like Kossan (within market expectation), so expect small bump in price after QR releases. But if you ask me for "gut feeling" distribution, probably 30% bad (below market expectation), 50% within expectation (down from previous QR) and 20% (better than market expectation).

Agree with @jolynce. With poor sentiment and very large volume, can small margin but almost sure profit when price is trending down.
However these past week Harta remain quite steady above 6. Waiting until cow come home before Harta reached RM5.

@oskchoon Wake me up when Harta reach RM3. I sell all my assets, all my belongings, rumah lah, kereta lah, anjing dan bini pun jual, semua duit I queue kat bila Harta sampai RM3.

To all the big fish and ikan bilises out there. Please sell everything and press Harta cukup2. Pasti harta Harta sampai RM3, kurang sikit pun I okay. Lebih murah lebih bagus.

@looiting, perhaps you are right. I am not too familiar with Bursa short selling policies, but I am well aware that large funds can swing the movement one way or the other.

@Anxious, yes not much information to push the price one way or the other. The next QR should spice things up. Now is more like a calm before the storm. Can't wait.

Call me naive, but isn't it risky to short a company with good fundamentals, especially when price is "closed to" the bottom? I see the logic behind shorting poor sentiment companies, price is trending down, so what's the harm in riding the bear? But there's a risk especially when price is already closed to the bottom. First there isn't much more room for price to fall. Second, and more importantly, the poor sentiment won't last forever, and one day when the sentiment suddenly reverses, all of a sudden you're taking losses when price suddenly trends up. Some news can be quite sudden, for example the recent news on the power shortage in China.

If I am a big fish, I would short sell companies that are currently overvalued. Price is sky-high but all you need is to create a little panic and "positive sentiment" will reverse course. To me this is a more profitable option. First price is sky-high so lots of room to fall and profit from the selldown. Second, since the company is highly overvalued, every investor riding the bull knows that one day the musical chair will stop and the bubble will pop. I think that's what happened with gloves late 2020, knowing that the sky-high price won't last forever. Now after a year in, with prices close to pre-pandemic levels, the motive for RSS becomes weaker and weaker.

In recent days the large purchases are either made early in the morning or late in the afternoon. They don't mind shopping for the best price too, just buy whatever it is on the counter.

Have not been following the banking sector, but was surprised with price movement from 8.30 to 8.20 and now 8.18. Bad news, or just the usual price correction?

Glad you find my comment interesting, I am no sifu or expert, just here to lepak while waiting for opportunity to buy/sell.

Kossan is doing quite well at the moment, suprisingly high dividend as a bonus. Kossan bad card (falling profits) was revealed, and it wasn't all that bad. If Harta follows Kossan's path/QR, I will be very happy.

The potential wildcard here is that Harta is/was under investigation by US CBP. If they decided to ban Harta at the US ports, the consequences will be devastating (see Supermax now). But since Harta has a decent reputation in terms of ESG, the likelihood for such occurence is low, but nonzero.

But at the same time, I am not sure how much more Kossan and Harta will fall. Both are already at pre-pandemic price range. Price below pre-pandemic level doesn't make too much sense to me, at least in the long run. To me both counters are still good for medium to long term investment. Different story for short term investment. Glove sentiment is still very poor and we expect at least two-three quarters of falling profits. Will be a rough ride.

@jolynce Agree. Harta upcoming QR will most likely follow Kossan's. To me Kossan and Harta follows a very similar path. So whatever happens to Kossan today would most likely happen to Harta in a week or two, or maybe even today.

To me Kossan performance is decent and not bad at all, but the market sentiment may have a different thinking. The vibes I've received so far hasn't been good. May expect another bloody morning today. Let's see.

I just checked Kossan past dividend payment, and I was very very surprised. 36 sen dividend for the past three quarters at the current market price of RM2.44! Harta priced at RM6+ and only pays 50+sen, kedekut ;P Maybe I should've invested in Kossan instead of Harta.

Don't know how Kossan price will trend tomorrow, but this is a very strong performance at current price.12 sen dividend is a pleasant surprise.

As for Harta, it is clear that EPF is disposing glove counters. But who is buying up Harta? I have no idea if it is even local or foreign. But whoever it is, it is keeping Harta's price well above RM6.

@jolynce I have no idea how the market will react tomorrow. To me Kossan performance is well within expectation. While it is worse than previous quarter, this is to be expected due to falling ASP and temporary shutdown from EMCO. But it is still better than previous year, which is also well within market expectation. The surprise here is the12sen dividend, which is much higher than Top glove's 5sen dividend. To me this is a very good return for Kossan shareholder.

I really cannot tell you how the price will trend tomorrow. To me Kossan price may go up (good dividend and QR performance well within market expectation) but price may go down just by sentiment alone. My gut feeling tells me for Kossan 65% up, 35% down. How this will affect Harta is even less clear. Personally I will wait for market trend in the morning since nobody really knows how things would go.

Kossan QR came out today. Not sure how market will react to latest QR in the coming days but dividend is far higher than expected (dividend 12sen, price RM2.44). Not bad!

Even without CBP news, it will be a rocky two-three quarters because of falling ASP and competition from abroad. Downtrend has already began since last year, so even if Topglove is out of the woods, it is joining the rest of the glove counters in doldrums. Given current sentiment no way it's gonna shoot up anytime soon.
Main question: is it (Harta) still a good buy? Yes, very much so, waiting to collect low. If you think otherwise, best exit early.

So US started seizing Supermax's glove at the port? If really happens to Harta, it's my cue to buy. Now haven't reached my target price, still waiting for an opportunity to average down.
Harta has solid fundamentals, so why worry? Even if really kena, look at Topglove now, it will too come to pass.

If price can close above RM6 today, I considered it a big win. Forced labour is a very serious allegation. When CBP opened investigation for Topglov last year, it caused Bursa to halt trading for that day.

Interesting. A few weeks ago I heard about Andy Hall's petition to investigate forced labour allegations, I really did not think much about it. Now with CBP taking up the case, they may have probable cause to believe that forced labour is taking place. The next phase is to find out if they have sufficient appropriate evidence of forced labour, a far stringent requirement than just probable cause. Just have to wait for their investigation to conclude. Nothing we can do.

To me the likelihood of sufficient appropriate evidence of forced labour is quite low (just my personal opinion, I don't really know for sure). For now will be watching price trend. If it really falls below RM5.5 or even below RM5, I am looking to accumulate big time.

Same here. If price reaches new low, will average down. If price rebounds, will take some profit.
Bang miskin sometimes gets bored waiting for glove to reach new normal, will occasionally trade a little.

Noted @AlexT12, we're prepared for the worst case scenario. When it drops below RM5, I'll be ready with seatbelts and a sack of cash. We are going on a buying spree. The more they throw, the more we go on kutiping.

Bang miskin remembered exactly a year ago when investors were running away from kaunter Genting. Manyak cakap ler nak bankrap this and that. Genting share was trading at low RM3.XX and was in a much poorer fiscal situation than Harta now. Now look at Genting, one of the hottest share here. Bang miskin regretted not kutiping Genting below 3.XX. Not making the same mistake with Harta.

Thanks for the news @Ryan83, if Harta's performance follows Mercator, we're gonna be in one heck of a rough ride. We will know the result in about two weeks.

Yes I agree. Currently I think Harta's fair value is at RM8, but I am greedy since there's the possibility of buying below RM6.