cherry, i don't think you can call it a downtrend. It is moving sideways for the time being. Probably those very short term traders and contra players are clearing positions when opportunity arises. I believe there are still some more upside potentials to its price but need some time.

immediate resistance is 1.83 and the next major resistance is 1.90.

Inwest, really great to hear that you made profits overall. Slow and steady. Unfortunately, time is one luxury I do not have but I do try to drop by whenever I can. That is why you will notice very few comments from me more like hit and run. I may have said this before, there are very few threads in i3 that are worth visiting regularly and this thread and Matrix thread are on of those few worth visiting regularly.

Oh yes, congratulations to all those who made money on BIMB-WA. Decent profits in a very short period of time. Well done especially to rchi for unselfishly highlighting the counter.

I still have Barakah. My revised target price is now 1.60 to 1.65 while my exit price for profit protection is 1.50. (Maybank has a TP of 1.85)I believe the support price is now 1.51.

At the moment, Barakah is clearing off those very short term and contra players. There was a bearish undertone on Monday with high volumes but the vol shrunk yesterday. I believe people are waiting for the outcome of the Fed taper while others are expecting or hoping for another run on the price after suspension of the counter on Friday.

So, any surge in price over the next few days, if any, could see heavy profit taking. My usual exit strategy is to wait for the price to peak and exit when the price falls 3% to 5% off its peak. But for Barakah, I will be exiting differently. I will try to ride on it as far as it can go b'cos my entry cost is low and I have locked in profits on most of my holdings earlier on and I do think there will be another mini run on the price.

In the medium term, there will be more upside potentials to its price especially with the pending Saudi tender results. Rightly or wrongly, that is my take on Barakah. I hope I have been able to give Moon Ng my view on the counter.

Good morning everyone and I hope Inwest and all you guys and gals make lots of money today as you always do.

inwest88, just pop by to say hello to you. Hope you had a profitable day today.

It was good that Yelen is taking over b'cos she believes in a slow and orderly tapering. In fact, Yelen has stated many times that it will be a gradual process. In any case, the taper is a good thing if the US economy is on a confirmed growth path although there will be an initial market reaction more due to fear than anything else.

rchi, i do not think the taper will be a lot. The US economy is improving but not by leaps and bounds. In any case, the Feds will need to taper off slowly and orderly so as not to create another unnecessary shock to the economy. But most markets have anticipated and factored in the taper to some extent as the Fed have been priming the market for some time on this taper although when the taper actually takes place, I do believe there may be some panic sell down temporarily.

i3i2i1, that is a wise move. Don't chase the price. The support price is RM4.40. Better to wait for weakness in its price if you are keen to buy in.

bullish on the chart and momentum is picking up.

With the contract, the earnings potentials of the company has increased and will be reflected over time.

Moon Ng, I still have Barakah.

Matrix, good to hear from you again. You may want to take a peek at Weida. Chart looks bullish. Immediate support is 1.70 while resistance is 1.83 then 1.90 which is the dark cloud formed on 29/10 and 30/10. The bullish MACD crossover was on 10/12 and 11/12. Volume has increased for the past 2 days, about 4 times more than its average volume.

Continue to enjoy your year end holiday.

inwest, that is very good advice. I have cleared half of my Barakah holdings at 1.55 to lock in profits.

Inwest, congrats on your Barakah profits. Very happy for you. Your timing was perfect! No I have not locked in profits yet as the price is still holding up. May ride on it a bit longer but I will be liquidating some today at around 1.54.

Connie, I don't quite agree that we should only enter at 50% fib retracement. To me, fib retracement is just another tool in our tool box and must not be used in isolation. Whatever level the price has retraced to, we still need to look for reversal patterns, chart patterns,volume trends and at the same time keeping another eye on the fundamentals of the company to make sure that there are no new or future developments that weakens or strengthens the fundamentals of the company. Otherwise, the retracement can go beyond 50% or 38%. Just my thoughts.

Connie, you are right - fib retracement is 38% at 1.06/1.07 on a daily chart. (Sorry to intrude b'cos I am monitoring Inari-Wa)

Inwest, I am trading Barakah. Have you bought into Barakah yet?

It is range bound at the moment and I believe it has been at the accumulation stage for the past 1 wk plus with everybody riding on pending announcements of contracts. As TM mentioned, the immediate resistance is 1.45 which I think can be taken out quite easily with positive news or even on rumour news. I scaled in a bit more at 1.40. I am looking at 1.50 to 1.55 to liquidate all my holdings. There is a Price/RSI divergence but I don't think it matters as the price is very news driven at the moment.

Hope the info helps.

TM - thanks for yr wave analysis. Very useful.

Thanks Connie. This is one of my favourite song.

Good morning Connie. Lots of people at I3 who are the real experts. Still learning. You really like Pink Floyd or you are just being nice (ha ha ha!)? When I listen to it at home, my family requested me to turn off the noise!

mikekong55, I noticed you shortlisted Weida for 2014. Just curious, why did you selected this counter?

Weida is in my medium term investment basket. My take on Weida:

Net Asset/share = 2.71 (avg gwth 27%)
Basic EPS = 40.01sen (avg gwth 25%)
Currently trading at about PE 4.23
O/S shares = 126,895,299
Positive net cash positions in 2013
Consistent dividend at 4 sen and this yr gave a special dividend of 1.5sen

Its price is currently trading at Fib Retracement of about 50% and is hugging the lower Bollinger band. Currently, its immediate support price is 1.60 with immediate resistant of 1.77/1.78. Trading below its SMA.

This counter to me is a medium to long term investment because of its consistent growth prospects and it has dividend yields although not very high. Just my thoughts. Hope it helps. Feel free to correct me if you see something not right in the above.

Connie, for the delay, this one is a bonus for you:

http://youtu.be/K16ltN3nWaU

Have a good weekend to you and everyone.

Connie, as promised, this is the song (hope I copied correctly)
http://youtu.be/0ISBnBkivjk

ha ha ha. Very pressed for time now, so, Connie, pls take a rain cheque first. Owe you one.

Connie, you're right, Felicity is a "he" and is the name of someone very dear to him. He is very good.

Thanks candlestick. Its one of those things when my parents asked me to learn Mandarin, I'm off flying kites. Anyway, thanks again. Appreciate it.

Candlestick, what does it say? Thanks.

connie, will try.

connie, not into def leppard but more into pink floyd. Cheers.

kcchongnz, thank you for the very insightful and enlightening reply.

inwest, i am in sync with your views on the market direction. I am currently rolling back cash from my short term and some medium term counters to increase my cash holdings and my positions are very short term too. I am wary of the increasing retail participation in the market and the net selling positions of the foreign fund managers although local institutions are buying in. All these against a backdrop of US QE tapering and the impending US "debt ceiling deja vu" situation. These will have an effect on the market psychology.

I am also on the lookout for some fundamentally strong counters with low price to accumulate. But in the meantime, I am leaning towards being conservative.

kcchongnz, thank you for taking us through your intrinsic value calculations. Appreciate it. Just one question - does the beta value of the stock plays a role in determining your discount rate of 10%? Thank you.

yipcoolseng, yes and i think bursa has gone haywire. I noticed the RM5 buy and quoted to sell mine at RM5 but was declined by MBB. So, I think Bursa has gone berserk and notice too that the buy price are all higher than the sell price.

inwest, sorry to budge into your discussion on sjscm3. But I just couldn't help myself by adding that I noticed you have got very sound investment strategies. I noticed you researched into your counters, quite honest with yourself and is pretty street smart too. So, I think his praise is justified. I am a firm believer in being street smart rather then just smart. Just my opinion anyway. Sorry to interrupt you guys/gals.

Matrix, enjoy your holidays and have a really good holiday.

You're right candlestick, Barakah should now be evaluated as a separate entity from Vastalux. So, historical price data on this counter goes out of the window as they are totally invalid now.

Citytrader, thanks for the alert yesterday. I went back in to TAS yesterday.

Connie, you are absolutely right. He is so kind and generous with his knowledge sharing. You know, you will have a best seller with your book.

Matrix, thanks a lot. Very enlightening info.

Good morning Citytrader and all. Thank you for sharing your analysis and thoughts on TAS. Appreciate it. I do agree that there is more upside than downside to this counter. I will still be monitoring this counter. Thanks.

Matrix,sorry but I need to take you back to Gadang's wave pattern. Would you kindly take us through how you counted the pattern. My wave pattern counting is a bit suspect and I think I may not be spot on. Am I right in saying that the Gadang's wave count would start from 11/10 for stage 1 of wave 1? Is Gadang now at stage 3 of wave 2? Pls take us through for this one. Thanks.

By the way, I took a loss on TAS too after seeing the stock losing momentum and with a high sell down volume. Tried to scale in MPHB at 1.74 but unsuccessful. Will see how it goes tomorrow if there is an opportunity to do so. If not, I'll just settle with what I have still got.

ooi1955, you're right, Engtex has good FA and is a good company. I am medium term with it including its WA. Have been trading this counter from 90sen. It usually moves up, consolidates, then move up again but need a bit of patience with this counter.

ha ha ha. Connie, that is a fantastic idea.

Good morning Tessa, matrix,connie and all or should it be good afternoon.

I totally agree with Matrix. I am taking very short positions in the market at the moment with shares that are sold down due to fear. Just went into Insas when it was sold down to 83sen and offloaded it 2 days later when it hit 90sen, although it later went up further to 92sen, I think. I may be wrong but I believe there are too many external factors currently, that are causing people to be cautious and no catalyst for the market to trend higher (except maybe Moody's higher re-rating of our sovereign debt - effect may be short term) like the hanging US debt ceiling, long year end holidays, and fund managers I believe will be closing their books come year end.

There could be some opportunistic buy during this period. In fact I have been paring down my short term and some medium term stock holdings to convert them back to cash and will on the lookout for any opportunistic shares that has been sold down to buy. Insas is one of those counter that I will be keeping watch.

By the way, Matrix, I bought into TAS too at 1.05. I am still hanging on to Engtex as it is my medium term investment but I still remind myself of your advice, stick to the exit plan and exit price for profit protection. Too bad I don't like running, if not I will join you in TTDI.

Sadly, Liverpool only managed to draw with Everton. Man Utd's game tonight should be a breeze.

Cheers. Have a great weekend everyone.

bsngpg, yr recipe is not wrong as long as you are comfortable with it & make money from it. You are right that most investors lack self discipline (sometimes i too lack self discipline)but self discipline and emotion control is the most important part of investing.

Sephiroth, thank you for sharing the link. Another source of tool is always good.

Inwest/Moon, its one of those feeling that all investors hate - price shoots up after you sell. Happens to me many times before. You're right, just have to live with it.

Matrix, MPHB seems to be losing momentum. I have disposed some of my MPHB shares today at 1.69 to lock in some profits.

L&G - immediate resistance is 0.395.

Matrix, L&G broke out from I believe to be a pennant formation with volume that is 9 times its average volume. Gap up today with 0.36 now being its support price. Trend is bullish with a target price of 0.45.

Matrix, I am also monitoring TAS for entry and also Inari - bullish today with volume against an overall bearish KLSE sentiment.

iafx, beyond 3.50 is highly optimistic and highly speculative estimation at this moment. We may be looking at an initial target price of around 3.40 based on current market conditions. Even this target price is based on optimistic calculations.