I plan to come in again. But must be reasonably confident of the support level first. It's okay to buy at a slightly higher price. So I'll wait for a clearer picture.
By the way, the time when most people had totally given up on a counter - that's when you'd want to be in. Because all the sellers are gone, and those remaining will keep holding on.
Will go to 2.7 soon, then rebound. Then what is next, don't know. Can't see any bottom line so far. But if for long term, like 1 year, no problem d. Haha. Maybe need wait for quarter result, then only know direction. Or else, can try to hold first, bet quarter result is good, else further drop again until fair price with quarter result.
03/08/2016 NG KWENG CHONG HOLDINGS SENDIRIAN BERHAD Open market purchases via Glencare Sdn Bhd 03/08/2016 MALAYSIAN TECHNOLOGY DEVELOPMENT CORPORATION SDN BHD Open market purchases via Glencare Sdn Bhd 03/08/2016 GENERAL PRODUCE AGENCY SDN BERHAD Open market purchases via Glencare Sdn Bhd 03/08/2016 MR NG KWENG CHONG Open market purchases via Glencare Sdn Bhd 03/08/2016 MADAM GOOI MEI HOON Open market purchases via Glencare Sdn Bhd 03/08/2016 WISERITE SDN BHD Open market purchases via Glencare Sdn Bhd 01/08/2016 EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") Citigroup - EPF Board (PHEIM) Acquired of 360,000 shares 29/07/2016 NG KWENG CHONG HOLDINGS SENDIRIAN BERHAD Open market purchases via Glencare Sdn Bhd 29/07/2016 GENERAL PRODUCE AGENCY SDN BERHAD Open market purchases via Glencare Sdn Bhd 29/07/2016 MADAM GOOI MEI HOON Open market purchases via Glencare Sdn Bhd 29/07/2016 WISERITE SDN BHD Open market purchases via Glencare Sdn Bhd 29/07/2016 MR NG KWENG CHONG Open market purchases via Glencare Sdn Bhd 29/07/2016 MALAYSIAN TECHNOLOGY DEVELOPMENT CORPORATION SDN BHD Open market purchases via Glencare Sdn Bhd 29/07/2016 EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") Citigroup - EPF Board (PHEIM) Acquired of 20,000 shares
U can still monitor gtronic, unless they got other customer to buying their 3D sensor. those old sensor price very competitive now, they may lose contract/OEM to other manufacturer, contract manufacturer bidding very low price to get contract at the moment.
Last two days have been fairly encouraging. I'm inclined to believe the bottom has been found. Taking a small position, with 2.75 as the cut-loss point.
While it is not close to distressed situation, we recently looked into Gtronic for a bargain hunt. We are in firm position that the management will do better for this out of favour stock. Bear in mind that distressed investing situation does not always result in strong profit. Some will liquidate or be acquired, while others can languish with depressed stock prices for years.
Our research shows that most turnaround stories happen in companies of this size (among stocks in Bursa Malaysia), rather than those you always listen to or read in news (most, if not all, tend to be penny stocks). White knights come in with great promises, only to see nothing happened or project failed. Thus, we rather believe in strong current management that have serious will to bring us through. Forget about those that prefer to come out in limelight, rather than spend time working on the business.
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....
Mat Cendana
2,340 posts
Posted by Mat Cendana > 2016-08-03 10:42 | Report Abuse
I plan to come in again. But must be reasonably confident of the support level first. It's okay to buy at a slightly higher price. So I'll wait for a clearer picture.
By the way, the time when most people had totally given up on a counter - that's when you'd want to be in. Because all the sellers are gone, and those remaining will keep holding on.