@vroompower99 it is not a secret that old directors are selling the shares. Looiks did mention and you can check out bursa announcement http://www.bursamalaysia.com/market/listed-companies/company-announcements#/?company=1201&category=all

The theory now is that they sell because they will no longer have power next year.. With possibilities to give way to new management team.

Suggest to check rumors regarding tshm :)

@Eddie that's why I said, this counter is now similar like sumatec (which fell from high a month ago). You can check out sumatec forum, got people shouting dropping to low Tp soon.. etc

@chrollo I thought you've gone hibernating? Hold it long as 6 months FD.

Personally I want to witness sumatec exit pn17

@dickyme merry Christmas and happy new year to you too. Yes. New year is definitely new and prosperous chapter for sumatec.

@sklyte agreed. In fact I haven't disposed any share but instead top up some.
Looks to me this is systematically done without touching the drop limit.

Now hibiscus is not for weak holder or contra players.

It somehow reminds me of the pattern done on sumatec a month ago.

TA won't work anymore. But suggest any investors to invest based on FA

what happened to hibiscus now reminds me what happened to sumatec a month ago...

I can only hope for new year and new chapter for both companies..

@kengfp yes.. sundarjie = dickyme

@hhakim very strange indeed. some more they haven't started drilling on 2nd well.

@wong: agreed. hibiscus is worse

omg.. i think the syndicates plans to cut at least 20 sens everyday ?

How low can it go?

I hope bursa will question hibiscus management on this price movement.

@kengfp you should read hhakim's posts in hibiscus - those are good to know knowledge since we are investing in o&g counters.

@hhakim thanks again for sharing

@hhakim i've learned a lot today. and thanks for telling us the fact about yanyana in sumatec, too! cheers!

I just try to look at it from psychology point of view:

If the share has dropped so much in the past two days..
how come still has nearly 2k lot queuing to buy son?

and now those lots disappeared

@Chrollo good night :) in case still hibernating ..see ya next year... merry christmas and happy new year

thanks again to happy88, hhakim, bloombloom, sklyte & flowerpower for constant sharing facts rather than rumours.

@Chrollo looiks already mentioned to hold and sleep.. new year is just 1.5 week away... :)

@sklyte so can we say if what wantomakemore predicted were all true.. we can safely say wantomakemore is actually a shark, or has connection to shark?

@almufathal for me I incline to follow old timer like happy88. They share facts not rumours. As long as they hold, that means this stock is still fundamentally strong. Noises happen when it become active stock. Just look at what happened in sumatec few weeks ago.

@citytrader hibiscus is no longer a spac since it has QA. I don't think this change of ruling for spac would apply for hibiscus. Just my two cents.

As a minor kici meow shareholders, I am truly "entertained" by this forum so far.

drama update at hibiscus forum: monday is the deadline to prove a rumour-maker if he/she is faking rumours (on his/her 70 year old uncle gave the drilling outcome in Oman, which I think partially created the panic selling)

But wait.. tomorrow is the deadline for sundarjie/DickyMe!

wah this forum is dramatic betul -_-

@imlegend maybe its the case but I think the hidden fact is people there panic selling due to rumours. I tend to believe its purposely done by shark to scare those weak holders, so that they can collect low.

Sumatecians here know better cos we share facts to slaps fake news providers like sundarjie and yanyana

@citytrader the moment this share can drop in few days from what it had built in the past few weeks, it shows this counter is now has shark occurrence.

Let me recap two stories:
1) a 70 year old uncle mysteriously recommended someone to buy hibiscus share one month ago, but updated yesterday that the oil is dirty.
2) a press conference was held in Dubai hotel (for Oman drilling), only local reporters are invited (for a Malaysian company)

If the two stories above are logical, I don't know what is illogical!


I hope hibiscus management team can come out and clarify, to end this fiasco!

Read both Datokim's 'news' vs the link i pasted, you will understand

@CharTrader: What I meant was,, what Datokim just posted is a fake news based on elements from here http://www.thestar.com.my/Business/Business-News/2013/08/19/Hibiscus-Petroleum-subsidiary-awards-Oman-drilling-contract.aspx

LOL, i believe this is a fake news with modified elements from here: http://www.thestar.com.my/Business/Business-News/2013/08/19/Hibiscus-Petroleum-subsidiary-awards-Oman-drilling-contract.aspx

@Datokim wah.. enough of rumours man.. please also paste the original source for this news

@dragonslayer agreed lol!

@dragonslayer yes i know.. but i bet sundarjie will shut up very very soon.. for this kind of people.. if we ignore, they will stop.

More over, I am confident that Captain Looiks will win :)

@victor i'm a person who believes in karma.. therefore i prefer someone who loves sharing neutrally (e.g. Kak Noraini) and interestingly (e.g. looiks' train analysis) without bashing people arrogantly.

I guess i might miss the calm moment here (after people like sundarjie they all moved to other forum such as hibiscus... very messy now)

At least, there is no shark here for quite some time ;)

@CityTrader: i followed your post and dang! you were spot on for TA reading! your posts prevented me to top up more but like your gf tessa, i didn't cut loss and still holding :-/

just to say thanks!

@victor it's ok that he is proven wrong - it just means in stock market or anything in life, there is no absolute theory that works 100% .

Anyway, i think the show is not over for hibiscus - they haven't got the drilling result released yet... (based on research and re-reading done yesterday, supposed to release drilling result only next month)

Just like sumatec.. new driver is not announced yet.

I bet January is a flourish month for both sumatec & hibiscus.

wah... though i'm also a super small holder of hibiscus.. but i'm sure hibiscusians will start to understand how sumatecian feel .. that the share dropped to the base level... (be it syndicate doing or profit taking)

Hibiscus rumour-makers are even worse (in my opinion, worse than yanyana) and can create super ripple effect in just few days.

I'm glad that at least here we have super guides (thanks noraini & looiks!!) and team mates around to support each other.

I'm not surprised if hibiscus thread will start to have similar people like sundarjie that blast hibiscusian from now on..

Am more determined to treat sumatec as my 6 months FD, just topped up some @ 0.28

hmm i start to think whether people have taken harvard57's advise seriously (i.e. take profit @ 30% profit) that's why the panic selling domino effect

@sue voon wah.. you ask for which stock to buy in sumatec thread... of course many will say sumatec la :)

my first answer is: holiday season now, it's risky for short term trading.. everybody is in slow-mo or take profit mode. (must go for cuti mah)

second answer: buy and hold sumatec as your 6 months FD, you might be surprised by the FD rate given to you :)

Read noraini's post for idea of TP

third answer: you may try barakah tomorrow.. as there will be T4 selling.. they have one more bidding pending.. Saudi's project - if they can get, Maybank IB's TP is possible.

I don't know when will the annoucenement be made.. it could be this month or next two months

Similarly, you may try to buy small for hibiscus.. between now and next week.. it has nearly dropped to RM2, the base price before the goreng starts.

From what i understand, since yesterday there were panic sellers or profit takers who can't wait for drilling result release next month.

Last but not least, since this is a sumatec thread, i would still ask you to look at my second answer.. now sumatec is still having cheap train ticket for sale... for the train.. (very likely, just my speculation) will start moving in just few weeks. Read captain looiks' post for idea.

Hope these help

@noraini would it be ok if you share your TA reading in hibiscus as well? I've learned a lot from you in sumatec :)

@kingleecha T3 selling sorry.
You may wanna go in either today or tomorrow for midterm investment.

@kingleecha, Maybank IB's TP is based on assumption that Barakah will get Saudi's project.

Suggest you to go thru IB's document.
http://research.maybank-ib.com/pdf/document/Barakah_CU_20131216_MKE_5565.pdf

Now the price may not look good - take into account of T4 force selling (16th Monday hit all time high but a lot of people took profit)

from TA point of view, 2.17 is the support. if today maintains below 2.17, then tomorrow might be a good day to average down even more.

as for me, now is also good time to collect more

just my two cents

funny that you guys would trust a story some forumers who post 1 or 2 posts (as a news) in the history, rather than listening to long time forumer like happy88 or flowerpower :)

very clear sign of syndicate playing with this stock, and they have succeeded.

remember how many of you said TP3, bullish trend etc.. just a week ago.

I strongly agree with happy88, don't panic and look at how Rex international price is doing.

At the same time.. some of you may wanna average down with this good price.

it's just weeks away from the drilling result annoucement.

haha.. people said buy on rumours sell on news.. but it seems this counter is "buy on rumours sell on rumours"

where is the CONCRETE news yet?

agreed with happy88, this is panic selling thanks to some inconcrete news contributor.

First well also not completed, people can harp on dirty oil, no oil etc..

hahaha interesting 'rumours' development so far!

@Wantomakemore, thanks for the info but I do find more things need to be clarified with your uncle:
1) Did you uncle mention about Oman 2nd well? Both so fast know the result already?
2) Rex's price increase is still a mystery - in fact, Rex's price should drop even more because Rex has more shares in Oman concession

Hope your uncle can help to clarify :)

@ktjaven, just my two cents, the drilling is expected to end this month end. But between now till month end, as you can see, stock price has risen based on the high expectation of strike oil.

The price movement can be anytime, as you can see the stock price in the past few weeks.

@yk john: there are many comments but you created a lot of road blocks too

@Eddie voon: hahaha. Agreed but his choice of words are scary wei.

@prc4wifefe hahaha... talking about the chance to meet a friend at casino in Macau, who informed that he bought 3mil Barakah shares and further updated that he disposed everything yesterday..

thanks!

just a question: Barakah-LA is selling at around 10sen discount - is that a good buy?