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@ernest60 Looking good, based on HLIB's bursa report, bursa shoot up with increased volume after broken the downtrend resistance line few days ago and repeatedly tested it. This is a very bullish sign. Too bad didn't pick up C33 this morning

Bursa will be super bullish if managed to close above uptrend resistance @ 8.80 and MA100 @ 8.85

A quick pump and dump scheme... But at least it touched MA10 and quickly rebound, more consolidation ahead

It is under structured warrant announcement: https://www.bursamalaysia.com/market_information/announcements/structure_warrants?keyword=&cat=IS%2CGANP&sub_type=&company=&alph=&dt_ht=&sec=&subsec=&dt_lt=

I wrote some semi-long essay on warrants detailing trading information of CIMB market makers and the number of warrants not held by them, but it was deleted immediately after I posted here? Never had this kind of problem before. I am writing a simplified version here:

Based on this information: https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3102159

We know that large % of C33, C34 and C37 were held by the public as at 31 October, and CIMB market makers bought 0 of them, yes, ZERO of them in the month of October, contrary to C27 that expired in-the-money. On top of that, they sold many of these warrants during October.

For warrant issuer to maximize profits or to reduce losses, they will buy back warrants from the market as many as they can when they think the mother will be higher than their exercise price(s), and vice versa.

Therefore, pay attention to these disclosures every beginning of the month if you trade warrants. Trade wisely and carefully.

Bursa already continuously risen for 7 days, it is healthy to drop 1 day right?

Weakness detected: Bursa turns south after briefly touched uptrend resistance line. Unless Bursa managed to close above the trend line, weakness might persist.

Technical chart as of 4:09PM: https://imgur.com/1zMOYSA

After disappeared for days, EPF is back and keep selling by placing large blocks

Made 73% so far this month, personal best record, thank you Bursa!!!

Looks like EPF is trying to pull KLCI to around 1600?

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JASA is a one-sided political propaganda machine that has direct access to national TVs, news outlets, social media and many PR/advertising platforms (possibly the MKN message that "coincidentally" pause for few days around the time where darurat request were made) that you may not realized. Is abah trying to "censor" the administration's wrongdoings by flooding the country with JASA propaganda? Do our country need such propaganda machine especially during time of Covid-19? While the government is no doubt requires stronger fiscal discipline?

Remember one thing guys, don't hold on to a warrant if it is close to maturity and tend to stays flat or goes lower when mother moves up. It is a clear sign of time decay and such decay will accelerate as time goes by if mother stays below its exercise price. Be bold in cutting loss when comes to warrant.

If have faith in the mother, you may try another warrant with longer maturity and premium below 20%. Given the large percentage spread between each bid, queue to buy is a better choice too, avoid buying from sell queue if possible.

Bursa successfully closed above MA10 and 8.25-8.35 resistance. However, the volume are low, we will see what happens next.

For now, I am seeing three black crows followed by three white soldiers, very bullish.

Yeah I bought after he appears and earned some handsome profits too, cheers guys

Legend says he is queuing at RM7, but I think he is a soothsayer that tell us Bursa will rebound few days ahead.

Yes of course. When price of mother changes and the warrant price should change to certain price, they may either withdraw queue or buy/sell from/to themselves (to create the illusion of active trading), on top of buy/sell from/to normal traders. For example, CIMB IB market makers generally trade multiply of 500 lot size, within 1000 ~ 5000 lots.

CIMB usually has the most active market making activities, which translate to active buy and sell at tight bids. Other IBs generally only goreng their warrants when the mother get particularly heavy traded.

Able to close nicely above 8, I would say this is a good sign. I feel like CIMB (probably Maybank too?) stop selling today as their new warrant get listed.

Based on their filing, they decided this exercise price when Bursa was stuck at RM9.

It is a good warrant, easily made 20% from it today by playing intraday trades.

C33 did not went down yesterday, so unless today Bursa can regain what it lost yesterday, C33 won’t have much movement

Two new warrants are listed today... Will IB goreng further to attract more buyers?

Yes, if you do not sell it before expiry and the exercise price is lower than market price, you will get nothing. This is the dark side of warrants

The IB bet it will expired out of money, so they can earn whatever you paid to buy the warrants from them. They also buy low and sell high to earn some trading profits.

So far technical signals are very accurate on Bursa... Once supports broken, the next day will follow by heavy selling. Today it closed at a very interesting spot..

Also, I wonder why big fund like KWAP buys less than 200 lots two days in a row... It is just a completely negligible tiny fraction of whatever they hold.

Thanks Zhuge, anyway, I noticed that the day after or several days after Zhuge warns us, Bursa will shot up.. So let us see if a rebound is coming or not.

"... five (5) market days PRIOR TO and including market day immediately before the expiry date" means today is not included. Expiry date is just the date for them to automatically exercise the warrant: "The Call Warrants will be automatically exercised at 5.00 p.m. on the Expiry Date if the Cash Settlement Amount is greater than zero".

Yeah it is unintuitive to not include the expiry date into the calculation, but I think that is the norm for structured warrants in Malaysia.

Today is not included in the calculation. If CIMB is in the play, of course they want to collect some at lower price after dumping it for days, right? It could test RM8 again before rebound, possibly going to test 7.94 and 7.85 too.

For US presidential election, I do believe Trump will win, possibly with a landslide victory. So, before that, we should watch our cash level carefully. Short term rally is very likely after US election, tabling of Malaysian budget and its (almost certainly) approval in the parliament.

It seems like CIMB prefers VWAP of 8.35

Hong Leong Investment Bank:

Maintain BUY, TP: RM11.45 (30.5x PE on mid-FY21 EPS).

Uptrend support line broken with high volume and long red candlestick, MACD is currently having a bearish crossover. If cannot hold 8.30 - 8.26, next immediate supports are 8.10, 8.00, 7.94 and 7.85. Let’s see what will happen after lunch.

@Morpheus61 Well done!

@ernest60 This is just theoretical, can use for reference, but don’t rely on it.

I think this requires MoF, BNM and SC agree then only possible, very unlikely even in the next 20 years lol

@Morpheus61 Very informative, where can we get this stats from?

I really hope in the not too distant future, Malaysian financial market can be more developed, no more structured warrants issued by IB with high premiums. Instead, have proper call and put options for most stocks, like in the US.

Last day to include in C27’s settlement calculations is tomorrow, so CIMB may give us some breathing opportunity on Friday

Correction: Tomorrow is public holiday, so today is the last day.

Yeah my mistake, only warrants starts with “W” can convert, others cannot

@ernest60 All structured warrants are cash settled, no conversion to mother share, only company warrants that begins with “W” and some other symbol can convert to mother share.

As for C33, for it to worth anything at all (so called “in the money”), Bursa needs to be above 8.50

C27 calculates its closing price using VWAP, not just ordinary closing price, it is the same for all CIMB warrants. So, in order for CIMB to pay lesser, they have to press Bursa with real volume. Cross trade could help too, so pay attention to cross trades in today and tomorrow.

Road to RM9..

Very disappointed, it touched briefly MA10 and MA100 then falls right on the uptrend support line at closing. However, this could be an inverted hammer

PAT 122 millions, EPS 15.10, consistent with SharkyBilis hehe

PAT 550M and EPS 15.95, congraz

@ernest60 Here you go: https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3092910

Nope, guess we have to wait until QR release at lunch time tomorrow

Can Bursa rebound like glove stocks?