PM Corp closed at 26.5 sen. The trading range today is 26 to 27.5 sen, short of the 27 sen close.
It attempted to test 27.5 sen, but failed. Got to see in the next few days whether it can close above 26.5 sen for a few days, before we can make any judgment if it is on an uptrend.
Points to note: Market sentiments have turned cautious, ahead of the public holiday this Friday and Chinese New Year is getting nearer. The CNY play on penny stocks could come to a halt anytime soon. Beware!
So, we can only tell the uptrend if this rally is continued well after the CNY.
Looking at Ecoworld today, it went down 58 sen. It used to be the investors' darling weeks and months ago. Now, the investors are on a rollercoaster ride.
Never chase stocks, esp those that have run up too fast and too soon.
Though the chart looks +ve and will rise to break the 27 mark but we cannot dismiss the fact that the market may suddenly crumble under the mighty force of selling like what had happened earlier at 37 cts without any notice ! It just breaks when the sharks keep on selling in large volumes unless there are takers or else it will not sustain . As small investors , we must be very careful and vigilant and better enter the market when the price breaches 27.5 mark to signify that the uptrend is more or less confirmed . Better earn a bit less than be stucked for a long long time. 2 cts
This is a slow-moving stock. It is not meant for the short-term traders.
Always follow the shark's approach to accumulate low and slowly offload as the price moves higher. Never chase high. Be prepared to use the dollar cost averaging method to bring down your cost of holdings, should the price that you enter go against you.
Just my experience trading this counter. Trade at your own risks.
Lee9fold, i think what swing meant was he prefers the term 'big investors' to 'sharks'. David, i thought so you were the shark right haha errrhh....... i mean big investor hehe....
Posted by ayeefk > Jan 16, 2014 03:17 PM | Report Abuse X
Hi, guys,
Just came back from outside. No pre-holiday shark's show today.
It slips back to 25/25.5 sen. Yesterday, some technical guys might have jumped in when it hit 27 sen. So, just hope that the price moves back above 26 sen after T+3 next week.
Once it breaks 24 sen, then the shark might revert back to the downtrend chart.
Ya man ayeefk, may be many big boys also trapped after the big drop so got no choice but to buy more and push up the price then offload hehe. The second drop could be worse. Of course this is not a buy or sell call for eco.... hope I am wrong though..
Today, the trading mood is no good. It affects almost all stocks, as well as PM Corp. Just hope that shark is collecting at 25 sen. Then, we are still safe.
The small retailors are usually at the mercy of the big boys, who like to use the 'pull' or 'push' strategy, plus the scare tactic, to make the retailors feel 'thrilled', much better feeling than riding on the rollarcoaster.
Thanks lee9fold, let's hope so but that last transaction...... change of plan for the sharks? Sorry,guys, just trying to make it more dramatic haha....
Sorry. Lupa bagitahu. Gua called off sale order. No purchase done today. Sold off 80% of my holding at 27 sen yesterday. Getting worse. Target 24 sen now.
Lee9fold. Shark is not accumulating. They are disposing to buy back at much cheaper price. I think they are loser for last day transactions. Trend is killed by big lots tried to be sold at 27 sen yesterday.
Humbled . Pdz but too high now at 13 sen recommended by s46 thru TMS forum. At price gua tak berani sudah cabut. Too high to play now. High risk already. May go up further and may go down.dont gamble play safe.
So there is a bigger shark behind the scene? This is definitely better than korean drama haha... Anyway, thanks guys for enduring my conspiracy theory whole afternoon hehe....hope I didn't offend or mislead anyone. If there is, rest assured, it was not intentional and pls accept my sincere apologies. Great weekend and holidays guys. Love you all haha..... peace.....
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
hepitrade
5,290 posts
Posted by hepitrade > 2014-01-15 16:54 | Report Abuse
ahhh, up bit again.. hehe