connie: hello. :)

newbie: cya.. need to go. :)

Newbie: Greed is good.

Remember that. :P

Ok. Take a deep breath.

Let's look at MRCB... some technical stuff...

MRCB had been swinging like a monyet between 1.53 and about 1.65 this year.

It just broke out of this range...

Think for a moment.

It takes a bit of effort and money to break out of this range and assuming the person or group that is doing is called Mr.GorengMee.

Now what do you think Mr.GorengMee is trying to do?
He's trying to make money, ya...
now you can see the action... it started this round from 160.
Price now 170.
You think Mr.GorengMee is puas to push the swing so far out to 170 for a 10 sen gain?
So little meh?
You think MGM not greedy one meh?

Then you look at how the swing is set up currently...
with the momentum and effort from MGM...
where could the swing reach out to?
where's the next possible target?
Is it 180?

Would it be possible?
Or is Ah Boon and his fungers stoned silly that his fungers is spitting out garbage rite now?

:)

Stay greedy.

There are times to be greedy... and now it is.... :)

newbie: That's the way you should do.

Greed is good.

Stock is climbing....

Aiyoh.... for the sake of more good food, hehe, take out of all the sell q.... take a deep breath..... walk around.... smile.... smile somemore.... and then take another deep breath.

Relax.

Never rush to sell..

The stock market is a waiting game. :)

newbie: you too! :)

Newbie: LOL!

but... but.... but.... this is our life.

do homework...
buy stock...
make money....
whack good food...
be merry....
workout...

Wash, rinse and repeat..... :)

Life is good. :)

LOL!

Newbie, I don't believe in going on diet.
Eat what we like...

Good food is created for us to eat. :)

Then do your workout(s) :)

Hahaha... I surrender.

You win!

LOL!

:)

connie: I advice ppl to find their edge.
Know what they are good at...
and very important know very well what they are not good at.
Then do what they are good at.

If you are good in investing stick to it.
If you are good in trading stick to it.

Simple as that.

Look, you know very well that KTB comment of mine was rather sarcastic and naughty.
LOL!

Yes, I was poking fun but ..... with good intention really.

As I am still new in your thread, let's leave it as it is.
Sometimes certain things are best not said.
Just leave it as Ah Boon being very naughty.

:)

jj: LOL! :)

Like I said ....

"Nevertheless, anything can and will happen in the stock market.

And yes, stocks do fly out of the orbit! "

Cheers!

matrixcool: you are welcome.

I feel the 45 cash backing is a non-issue at this current moment of time.

For the investor, it will only be activated if and if SONA makes NO acquisition after 3 LONG years. But what's the point of it now. The investors buying at 50 sen now, will still lose 5 sen if and when this happens, ie Sona makes no acquisition. ;)

For the traders. All eyes on the signing of the SPA next week. And if the SPA is signed, it means SONA would have made an acquisition, which renders the 45 sen thingy irrelevant.

Inwest88: Great comments and finally I get what the talk is all about regarding the 45 sen per share cash backing.

I err-ed by assuming it was Sona's cash per share (which according to latest qtr report is only about 38.5 sen) LOL! What was I thinking then! Duh!

However, the more I thought about it, the more I felt I needed to give some 3 sen opinion.

This cash back thingy is only worth its salt IF Sona doesn't make any acquisition within 3 years...
this IS a good rule.
It's like some form of insurance for the investor...

But 2 things.
1. If I invest/trade in Sona now at say 50 sen, I will still lose 5 sen in this 'insurance' scheme if Sona does not make any acquisition.

And I have to wait 3 long years.... ie after July 2017 to get money back.

Is this a great selling point for me to invest in the stock?
My answer is NO.

2. The legal signing of the SPA is supposed to be on 26 June (ie next week). Once signed, the acquisition will be in place and the 45 sen cash backing is GONE.

Therefor, I am confused with the constant hoo-ha over this 45 sen thingy.

Now the stock and the chart.

https://farm4.staticflickr.com/3867/14290363129_bfd457c881_b.jpg

I wrote the following comments on 11 June:

The two black candles that whacked Sona out of shape happened after Sona made its maiden acquisition announcement.
Well, we don't have to be an expert but that happened next clearly showed what the market thinks of the deal.
Long black candles done with huge volume.
Not a good sign.

IF there is prospect, the stock needs to DIGEST this sell down first.
Hence, being patient is simply the prudent way to go.
My 3 sen view.

Today?
I still think the market is digesting that earlier sell down.
Is it waiting for the signing of the SPA on the 26th to go up?

Well I won't try bottom fishing this one.
Maybe a breakout of the current resistance is the most logical way to go.
Yes, pay a few cents more (for insurance LOL!) but at least I know the market and I will be thinking as one.

Cheers.... my long 3 sen.

LOL!

:)


Oh yeah, we do love a good cook. :)

Cheers!

Have a good evening.

Waaa... Saturday stock chat!

I like.

Err.. 60 sen for KTB?

Ok, perhaps it's possible from an EW pov... :)

perhaps the big man with the wok and the cooking oil is such a fantastic cook... :)

but from fundamental pov, such target is way out of the orbit.

Nevertheless, anything can and will happen in the stock market.

And yes, stocks do fly out of the orbit!

:)

winwinborn: you are welcome.

The furniture sector stocks is probably the most misunderstood sector.

Most thinks that the furniture stocks are those that we tend to see 'open shop one day and then burned down the next'..........

Sad but true.

Many have such bad misconception about the stocks.

Some of these listed furniture shops are export oriented and despite the incredibly good profit growth and with fantastic cash flow too but due to the misconception, many just don't want anything to do with these stocks.

With people ignoring the underlining fundamental of these stocks in general, we get these stocks trading at super low earnings multiple.

For example, Ah Lat, trades only at less than an earnings multiple of 4.

Maybe there is some concern on Ah Lat's recent factory problems in Vietnam....

Maybe the recent stengthening of the RM versus the USD is a concern (these companies enjoy more profit if the USD is UP versus the RM)...

scjm: LOL!

Apparently less is more.

That's the trend.

Hahahahaha!

Trend is always my friend.

:)

connie: Ah, this is where perhaps the 'difference' comes from as Inari was given birth (lol!) in Jul 2011.

Here's the interesting question then....

Would you follow EW reading on Insas then?

* scratching more hair now *

LOL!

Thanks bracoli.

I tend to think too much.

LOL!

Hair is getting lesser too.

Hahaha!

winwinborn: in my opinion, Ah Lat, is flat-lining into a coma.

*sweat*

Cases like this, it's best to let the stock wake-up from the coma first before deciding to jump in or even jump out.

I be watching either 2.93 or 2.97 for more clues.

Thanks connie!

That's what was my understanding of that statement.

Reason for that question is simple.

This is where I am confused about waves.

On one hand, the views on Inari is so positive.

If that's the case, then how can the view on Insas be negative? *scratch hair*

This is the simple past 100 trading days comparison between Inari and Insas.

https://farm4.staticflickr.com/3870/14462319895_91eedd0be8_b.jpg

And this is the 200 trading days comparison.

https://farm4.staticflickr.com/3868/14275713130_fdc41fe603_b.jpg

If my eyes is not koyak, my only conclusion is that one is mimicking the other.

Which by logic makes perfect sense.

Insas is the main shareholder of Inari.

As Inari shares goes higher, the value of Inari (caused by the share up-movement) will be worth more, which in return means Insas should be worth more.

Therefor, this is why I am confused.

Why should Inari be deemed so positive and not Insas on EW?

Furthermore, the comparison charts show mimic movements between the 2.

*scratch more hair*

:P

Morning connie! :)

Question: "insas wave5 ended n now unfolding d corrections" ....

Does this mean according EW that a correction is due?

connie wave trader I am not.
In fact, if you had noticed my charts, it only has volumes, NO indicators.

Connie me is trader la.

My friend is called Trend.
Friend of yours also?

Ps: why is everyone trying to bottom fish Sona?
Investors ah?

Hehe..

If I were to buy SONA based on current info, etc etc... I rather wait and buy high.

Chase the stock.
Yes, buy high, sell higher!
LOL!
Maybe 54 sen.

I won't bottom fish.....

If it drops lower.... have to rethink.

My 3 sen.

Thanks for sharing your 'way' Seph.

Since I am trader, I don't trade against the trend.

That's my way, which is totally different than yours. :)

Anyway, I was just commenting on the relevance of talking about cash per share of a SPAC company.

Also, I am sure you are well experienced enough to know that not all bearish FA stocks can be bought.

Some simply can't be bought if their fundamentals totally break down.

I also don't understand the 45 sen cash value.

Maybe, since I am more of a trader and that my fundamentals is not strong enough.

From the quarterlies, from what I can see, total cash is 543 million.

With a share base of 1.410 billion shares, cash per share is only 38.5 sen.

And since SONA is a SPAC, I cannot understand the importance of the cash per share yardstick, since SONA's cash is and will be used for acquisition(s).

It's not like, the investor will be getting any dividend soon from the company.

Sona's current chart.

https://farm4.staticflickr.com/3887/14269105760_aa5e010f4d_b.jpg

Doesn't it appear like the stock is starting yet another leg down?

If trend is supposed to be the trader's friend, why fight the trend?

hehe... why so hung up on Sona?

newbie: PE chart is simply drop dead gorgeous.

Chart:
https://farm4.staticflickr.com/3836/14432279356_c7948a9618_b.jpg

If I own it, I would just sit on it.
The stock is trending very strongly.
Some minor consolidation might happen but I would err now by saying any future consolidation should not be too severe.
And if I have it, I probably would employ a high cut profit strategy (maybe setting it around 308) to protect my profits....

However..... this is where this stock is complicated for me.

hehe...
chart is saying one thing but the fundamental is saying another.

I might be wrong but I dare say....
the stock is way ahead of its fundamentals. ;)

Yeah, I do not see myself chasing after the stock despite the beautiful chart.

The company business was expected to turnaround since the company had gone thru some massive group restructuring......
therefor, it's so early days....
we have yet to see the actual turnaround numbers....
yet.... the stock is flying so nice......

connie: Livermore as in Jess Livermore (from the almost 100 year old book Reminiscences of a Stock Operator).

Well, if you look at some of the big, big winners in recent years, like for example Inari, one could have easily gotten an entry at around 60 sen or 70 sen, based on charting.

With the help of the understanding on how extremely undervalued the stock was and also the potential of the company, I could had easily came up with a very realistic fair value of around 3 or 3.20, a year ago.

I would say, it's probably THE deal.... :)

Armed with such info, the only thing left to do is the waiting game...

:)


-----

newbie: YES! The stock market is simply a waiting game. :)

All the best.... :)

connie, understanding fundamentals helps our trading.

If you are a reader of Livermore's stuff, you would understand that some of his better trades were due to his understanding of fundamentals. :)



( ps: If you reallly know me, I really do talk crap a lot in the net. :P )

Newbie: Inari just broke out of its 260-290 trading zone.....

suggest you be more patient and sit on it.....

having said that, from a fundamental point of view, I just think everything is priced in already....

ie. moving forward, there's nothing (YET) to convince me that Inari could move much higher (unless of course, for example, the next qtr report, Inari springs a surprise in its quarterly profits)

* vested interest and I have been selling *

morning connie!

Trade secrets?
Haha... in a sense, I do understand one.

I do see you have your own trading edge but sometimes, I wonder why you choose some rather suspect stocks, which isn't really your strength. (LOL! My observation could be wrong la and if it is... lol ... do flush this comment away! )

All the best for YET another great trading day.

Cheers!

morning jj: hehe... don't worry about it cos it was just a figure of speech - hardly any intention behind it, in fact, it's nothing more than the curious cat (since I am still new here - I hang out in lyn more)

Anyway, it's in my own personal opinion that if and when we speculate a stock based on certain issue, then perhaps it can only benefit us if we do our own homework. :)

For privatization possibilities, a study of the shareholder structure is a must.

Owners or the big fish make privatization offer(s) to benefit themselves.

That's their main objective.

It's simply business for them.

No money, no honey babe.

If they are not going to profit or if the deal is too difficult, I doubt they will do so.

I wrote the following recently too:

https://forum.lowyat.net/topic/3208491/+1000#

Post #1010.

jj: how did you get the idea of privatization of ILB?

Consider the following facts.

Yes, two directors, Tee Tuan Sem and Makota Takahashi had been buying BUT they had STOPPED BUYING since 4/6.

One owns 10.4% and another 10.2%.

Add them both up, these two directors only own some 20%.

Not forgetting Tabung Haji owns some 11% shares.

You can view the shareholding list as at March 2014.

https://farm6.staticflickr.com/5509/14264382159_71ef7fa6df_b.jpg

Can you see the rather large free float?
38%.
Not small.

Is a privatization doable?

Well, a slight positive issue is that ILB share base is rather small.
Only 178 million shares only.
An offer of 1.00 would means, ILB is valued at 178 million.
If both these shareholders launch a joint bid, they need to come up with 80% of 178 million ie 142 million.
It will cost Tee and Makota 142 million to chiak up ILB, assuming they come up with an offer of 1.00 per share. (would LTH be ok with it?)

Market is really, really hot for a lot of penny stocks.

Many are just going up, in regardless of fundamentals.

Hehe... yeah... BULL run baby!

So can ILB move higher?

Let's see how ILB digest Monday's volume. :)

duit: hehe.. :)

your stock tip looks not bad.
there's a chance that it should retest its previous high.

Wish you big duit! :)

duitKWSPkita : just some 3 sen opinions.

It's in my opinion that both stocks are trading with some positive momentum behind them.

Hence, it won't surprise me one bit if both stocks are able to hit your targets somewhere in the near future.

As in most penny stocks the past few weeks, momentum is great.

It's in my opinion is that we are finally seeing some fantastic penny stocks rally.... and when they rally, fundamentals are being cast aside.

I am sure you know what this means.......

All the best.

Morning connie!

You are late this morning. *whistle*.

So how do you guys & gals choose the stocks to trade.

Just wondering. :)

Seph: I am aure you are well aware but I probably wouldn't make a big deal of seal's cash.

Developers need the cash ready.

No money, no honey.

LOL

( I hope you are aware that I am actually positive about seal, much more compared to Salcon)

Seph: in turnaround cases, also like in seal, I look at the cash flow statements.

Positove cash flows is always a good checker.

We need to avoid those one offs and most especially them accounting profits.

Seal's turnaround is positive and the news coverage on it in the Star not too long ago gives the investor/trader a much better understanding.

Only thing we need to judge is how much more projects it has on hand and guess how successful the projects will be.

Seph: hehe..what's the difference between KYY's posting and the posting I made yesterday morning? :)

sephiroth: I am one lousy trader. I don't trade for small profits.

dreamhunter: LOL! Peace la.... :)

Jonathan: Yes, of course, a corporate deal could happen to take advantage of the cash situation, or the company could venture into new business..... but such stuff are difficult to bet.

1. We do not know if it will even happen.
2. We do not know if we will benefit from it.
3. Even if happens, we do not know how long.

Some companies are notorious cash hoarders with its shareholders only left drooling and dreaming of the cash over the years.
Example LCTH.

Dreamhunter: .... but will MAS-replacement still be bound to the crazy lucrative contract with Brahim?

How much again for that packet of Nasi?

connie: LOL! Yes, extremely blunt on the honey.

Dreamhunter: The danger is 'what if MAS closes shop'?

Bra can have their most lucrative deal but what good is the deal if customer no longer exist?

morning connie (again). Yeah, sometimes I am a bit blunt on what I write. Hope the readers here don't wear skirt la....

Yes, the momentum is there for ILB. No doubt.

The stock broke out of its coma trading range with good VOLUME.

Yeah...

no volume, no action.
no action, no money.
no money, no honey.

LOL!

Dreamhunter: You are also a Bra hunter? LOL!

Yes, the chart is looking nice. :)

But then that's about it. :P

In my opinion, Brahim shares recently collapsed due to its business ties with MAS.

The future of Brahim is extremely clouded when its main customer, MAS is undergoing all sort of difficulties.

Which meant that there would be serious question marks in regards of Bra's lucrative contract........

But as we all know.... well.... MAS has recovered from 15 sen... to 21 sen.

Whereas, Bra is.... really still underperforming.

Bra's low was about 160 and it ended yesterday at 199.

Which if we assumes all things to be equal, then naturally we might still see some flying Bra................. lol (pun intended. :P)

Hahaha... my comments were too long.
I could not continue.....

so now we have the stock breaking out of its coma range with good volume.

Impressive.

But would I chase the stock based on the info I have?

Some 3 sen opinions on ILB.

I be cautious on this stock.

Nowadays stocks seemed to go up on rather STRANGE fundamentals.

The other day, I was told that Len Cheong went up on supposedly being a very cheap stock due to really 'good' earnings.

That good earnings however is merely ACCOUNTING PROFIT (duh!) caused by land revaluation.

Now on ILB.

1. The stock was really unattractive (a coma stock) for a reason, ie business was mired with losses (and for the matter of fact, it still reported losses in its last qtr report). That caused the stock to be stuck in an unattractive trading range for more than half a year.

2. If it was so bad, why didn't the stock collapse?
Well, the proposal to dispose their logistics business was a known issue and in Feb this year, the company booked a 200 million profit from their asset disposal.

Which means we have the case where the company will have quite a fair bit of cash but still left straddled with lousy unprofitable business.

3. Which is exactly what we are seeing in their report announced in May 2014.
Losses still made.

Now the big thing that I would be asking and looking for in their quartlerly report is 'What's the company's future plans and what did the company do with their current cash' (Note: the company HAD already paid out a huge special dividend last Nov (181 million was paid out)

What did I see?
Company brought forward some 183 million cash.
Ended the quarter with some 175 million cash. *roll-eyes*

The thing I wanted to read most was what the company will say about their prospect.

Company said the following:
In view of the current global economic conditions, the Board foresees the market conditions will continue to remain challenging for the rest of the year. While measures continue to be taken to ensure the sustainability of the Group's revenue & operations, the challenging environment is expected to have an impact on the Group's performance for the current financial quarter.

Err... not too encouraging isn't it?

4. What do we have?
We have a company with lots of cash REMAINING from their disposal of China operations but now left with a company whose prospect is rather uninteresting.

Will we see another big dividend?
I might be wrong but I doubt it.

5. The Jap... the Jap.
Yes, the Jap had been buying quite aggressively.

Me, however, think that the purchases is normal only.
Makota, the company ED, via his purchases, has only increased his direct shareholding to some 10.4% only.

And his last purchase was on 4th June 2014.

That's many MOONS ago...... and if you talk about trading, hehe... that's many, many days ago...

and at this moment of time... one cannot stop and ask if that's it.
yes, what if that was last of his intended share purchases?

And if one dig back, a year ago, Makota's father Dato' Yasuo Takahashi ceased to be a major shareholder when he transferred his shares to him.

Morning connie! Agree with you on lbs. Not looking particularly attractive at this moment of time, and one really wonder if one can trust 168 or not....

ILB? Woaaahhh....