Two elephants fighting again today (like yesterday).... hope not too many pelanduk die in between.

Not down today is good already.... considering the KLCI drop 14.69 points today and most counters are red.

Managed to buy at 35.56 and 34.12 before the price close up at 36.10 ... happy with BAT today.

The attempted rebound today was not a trap for the following reasons: 1. The price did not fall lower than yesterday's price; 2. The volume traded was more than 143 million shares (very much more than yesterday; 3. The transaction buy was 56 %, i.e. buyers more than sellers; 4. Even at the highest price (today) of 0.775, it was not a sharp upward move (less than 5 %)... this indicate that investors are just beginning to move into this counter at such low price.

I believe the price will attempt to move up again tomorrow. So, everyone can sleep well tonight.

I think it's just like the morning session... first drop to 0.705 then shoot up to 0.775.

I don't think this is a trap. The volume in this morning session already more than yesterday afternoon closing volume. The volume today may try to reach 200 million shares.

johnny cash, could it be EPF & KWAP's recent purchase of millions of SAPNRG's shares is an attempt by the government to accumulate shares so that they can replace the CEO and management team with their own people?

I see many people here advising others to cut-loss at this very low price. Readers of this forum must not get confused. First of all "cutting-loss" is a term for speculators or short-term traders, not advisable for longer term investors. Even as a speculator or trader, whether u should cut-loss at this price 0.785 or not depends on your starting entry price & current average entry price. So, if your starting entry price is 1.05 and your average entry price is 0.83 then I think u should not panic when the last closing price was 0.785. I used to cut-loss in other counters at very low prices before but after cutting-loss the price always went up (so I don't trust cutting-loss anymore). Of course, I also agree with people suggesting to put money in other more promising counters; as I said earlier "don't put all your telur in this counter in case the price drop to 0.75 your overall telur will not kecut that much."

Actually, retail investors may not need to lose much money bcoz we can sell all our shareholdings in a short time like a few days but major shareholders who own more than 10 million shares will have a harder time selling all those shares & I believe they lose even more than us.

I think the Ghost sellers are the foreign (& maybe a few local) institutional speculators who do short-selling.... they will have to buy back those shares they never own!

weng77, I think all those things u mentioned r the reasons why the price has been discounted till 0.785 now as compared to its RM 2.06 net tangible assets per share (bcoz there are so many idle assets). Even those people who mentioned about the RM 22 billion debts earlier, this has also been reflected in the RM 2.06 net tangible assets per share (the debts already deducted to produce RM 2.06 NTA per share). So, there is no need to fix our eyes on them forever.

Hahahaha!! I see one group of people talking about the fundamentals and another group of people talking about the charts... its like chicken & duck talking (they won't agree with each other).

Why will 1 - 2 % of World Bank's money have financial impact to Sapura? Does Sapura borrow money from World Bank?

No need to challenge anyone. It doesn't matter who is right or wrong... the important thing is who is making money in the end. Being right is one thing, having the guts to buy or sell is another thing.

Hahahaha!! I think the short term price may go as low as 0.60 but I will still not sell (I just bought some more at 0.785 before close).

JN88, why bought at higher price & sell at very low price 0.70?

But I don't understand why KWAP keep acquiring (bought up to 3.6 million shares) SAPNRG shares the past few days. What's the reason behind their move? Are they smart or stupid?

This downtrend must have been made worst than necessary by short-selling from institutional speculators (not EPF or KWAP but others, maybe foreign institutional speculators) to force small retailers to sell off at historically lowest price. Fundamentally, this company's balance sheet is O.K. (not that bad).

This downtrend is not sustainable bcoz: the volume today (around 91 million) is less than yesterday's (around 110 million); the price decline was shallow (not steep) even on Friday when KLCI lost 5.93 points; the MACD histogram has been getting shorter & shorter for 3 days already (including today). On Monday, the price may decline a little more... don't worry about that, just wait a few more days for the panic steam to cool off.

Just don't put all your telur in this counter. So, if the price drop to 0.75, your overall telur will not kecut too much.

GLau, yesterday's volume was around 110 million shares.... the volume has been increasing in the past few days & the price has not gone below 0.80. Anyone has any interpretation about this?

Hahahaha!! Pmaster, why so emotional?

Now still early in the morning.... by the end of the day, the transaction volume will be 200 million.

Now is not the time to think about the downside risk of this counter, better think about the FAST & FURIOUS upside potential.

"The amount of share is huge for this counter" and it is hard for EPF or KWAP to push the price up or down, I think even that "someone" who is trying to "goreng" this counter will find it hard to do so. So we cannot depend on EPF, KWAP or that "someone," we can only depend on our own reasoning on whether we can make money from this counter or not (at the current price).

Anyway, it doesn't matter whether KWAP was stupid or smart for selling & buying back the 1 million shares.... if they keep selling & don't buy back, the price will keep falling. That's bad for everyone (including them).

KWAP was not the only one trying to sell their shares on 7 Dec... they have to compete with I think at least 1 million active traders to sell the 128 million shares on that day.

They will try to sell as much as they can sell, but when they realized that the price did not seem to go too much lower than 0.80 they began to buy back.

That's bcoz KWAP cannot sell all the 391 million shares in 1 day (the market cannot absorb so much selling in 1 day).

Concerning the 3 million shares EPF bought on 07 Dec, I don't think they bought b4 the financial report of SAPNRG was released.... they must have bought late in the afternoon (when the price was around RM 0.96) to average down. Here are the reasons why I think so:
1. Institutional investors are very well informed about when company financial statements are out.
2. They are the first ones to get hold of company financial statements when they are released.
3. They don't usually buy early in the morning; notice that huge volume purchases of 100,000 shares or more usually happen after 11: 30 a.m. and after 4:15 p.m.

KWAP sold 1.2 million shares on 07 Dec when price was dropping from 1.21 to 0.965 and bought back 1 million shares on 08 Dec when price was around 0.83, getting around RM 400,000 discount buying back those shares within 1 day. So, those who think KWAP was stupid... think again.

Those who pity EPF: my advice is don't pity EPF.... they know what they are doing. EPF may seem to be losing huge now but very soon (less than 1 year) they will make billions of RM from this counter alone. Think again: if EPF is losing money, how can they pay more than 6 % dividend to EPF members (all the millions of employees in M'sia) every year consistently?

Anything can happen in share trading (no method can guarantee anything). If u buy now to sell in a few days then u will lose money but if u buy now to sell in 3 months' time then u have a better chance to make money from this counter. It all depends on your time frame & how much capital u have. Good luck everyone.

What about someone who previously predicted BJCORP price will fall to RM 0.16?

Whatever the above reasons given, the fact is BAT's price is going to be around RM40 (and above) instead of RM30 or RM36 as some people suggested.

When the ship is sinking, there is no such thing as "bottom."

RSI = 75 % means it is overbought, i.e. most of the people who wanted to buy MYEG have already bought.... left few buyers now.

Closed at 0.350..... 0.385 coming soon! Hehehe!!

Yes.

Strong direct buy at 0.345. Those who panicked & sold at very low prices yesterday will miss the boat.

It's due to market bearish sentiment which affects most counters... everyone losing money.

But in the next few days it is going down toward 0.790.

NTA & other fundamental valuations may be useful for very long term considerations but in the short or medium term the profit/loss (earnings) are more important.

I think the "dumb dumb" who constantly bought at 0.345 from morning till the closing may not be that dumb as u think. He/they r betting the price will be rising to 0.385 (or close to it) b4 the AGM. He/they can make 0.04 profit, i.e. 11.6 % profit within a few weeks. It's not that bad, right?

It has hit the ceiling at 2.19 (a historically strong resistance) and when it can't breakout above the ceiling the only way it could go is downward. The RSI above 70 % & the declining MACD histogram confirmed this.

vyap, I look at the RSI, MACD histogram and use statistics to estimate the probability of an expected outcome.

Personally, I don't think it will drop to 1.80 but statistically that is a possibility. At the moment it is hard to predict when it will go up bcoz we won't know how long the downtrend will last but a good guess is within 2 or 3 weeks.

For those who r wondering why the price keeps falling.... according the its financial statements, BJC lost 0.0324 per share (per yr). So if u deduct 0.0324 from last year's price of 0.420, u get a fair value at 0.385. So we can expect the price to rise to 0.385 before the coming AGM.

Hahaha!! 1.80 may be 2 weeks later.... but for today or tomorrow it may just close at 2.10. But it may drop to 2.03 by Thursday or next Monday.

U can't just look at the cash & bank balances to determine the value of share price. U have to add other current assets & deduct all current liabilities too. And what about the fixed assets? BJCORP may be holding lots of cash but it also has lots of payable debts (RM 11.2 billion).