I’m reducing my investments in high PE stocks especially technology names which are trading at 30-50x, and I’ll be switching into defensive and value names (Of course, I'm still holding tight onto VSTECS - low PE and similar business with GameStop). 

 

In US, recovery plays are rebounding strongly, especially airlines – American Airlines (+9.30%), Delta Air (+4.05%), United Airlines (+4.01%). For Malaysia, as we are getting closer to 4 Feb (possibly end of MCO), investors may once again turn their eyes onto recovery names as well. I personally have my eyes on AirAsia (5099), Top Glove (7113) and Genting Malaysia (4715). 

 

As you may already know, GameStop in US has been skyrocketing as Redditors on WallStreetBets banded together to squeeze out short sellers and push the stock to all-time high (though down 44% yesterday but it rebounded strongly to >US300 in the after-hours trading). Well, we Malaysians will not be left out either. Just yesterday, Malaysian retailers also created BursaBets page on Reddit to target top short-sell counters (https://www.reddit.com/r/bursabets/). Based on the votes, it seems Top Glove and AirAsia could be top 2 targeted today. 

 

#MalaysiaBoleh

 

Please follow my Telegram channel – https://t.me/joinchat/SSPh7dJu6TMFPaXV

SHARINGAN: EYE OF MIDAS: Seeing It Before It Happens

DISCLAIMER: The note above is purely facts sharing for educational and discussion purposes. I do not recommend BUY/SELL actions. I am also invested in the stock(s).