Agree with Trustme, Barakah should break 1.40. They are one of the beneficiary of the recent Petronas contract besides SKPetro and the rest, although I belief this has been factored into the price. Still, it has got good long term prospects.

The price has been range bound between 1.26 to 1.34 because it has been heavily traded especially Barakah LA. It is probably in the process of flushing out those contra players and those very short term traders.

twobits, with SKPetro, it usually does not move with volume initially. Yes it broke out from the cup and handle and its volume will pick up once it gets moving. As I understand it, foreign funds like this counter and you need to keep watch when they start pulling funds out although I am not sure how much foreign funds are in this time round.

inwest88, actually I have been following your thread here in a stealth manner. I must say it is the most lively and cordial thread that goes beyond stocks which is good. And you have a whole bunch of guys here who are good with FA and TA, and also with songs! Congratulations and please keep up this lively thread.

Matrix, I have been following Perisai for the past 2 years and occasionally I do trade this counter when the opportunity arises. The upside for Perisai is limited at the moment because fundamentally they are weakened by their failure to renew 1 contract which accounts for up to 40% of their revenue, if I am not mistaken. I had sold off my Perisai holdings 1 week ago at 1.43 for a small profit.

I do admire your total discipline in following your trading plan which many people including myself find difficult to observe.

inwest88, thank you for the welcome and kind words.

OTB, I like your comments to Vincent especially the one on market psychology.

Good morning people.

Connie, just checked it out. Yeah, its good. Thanks for highlighting the site. Appreciate it.

Ha ha ha! Connie, you had matrix in a wee bit of a worry there.

Matrix, just curious, is MYEG in the process of forming a price/RSI divergence?

Connie, yes I use Fibo but I am not an expert in it. One of the challenging part of fibo is determining the swing high and swing low. So, it is not surprising if each person's swing highs and lows differ. I will try to help out here.

MYEG - The retracement level on the daily chart is 38% and yes, back to the price of 2.24/2.25. The swing low I would use is on 28/8 while the swing high is 30/10. With fibo retracement, it is important not to set too short a time frame for the swing levels as it can give a distorted picture and also it will impact on the fibo extension calculation.

The fibo extension would be calculated from the swing low retracement price of 2.24. So the TP will be as follows: TP1@24% = 2.48 ; TP2@38% = 2.63 (the strong resistance level) ; TP3@50% = 2.75 ; TP4@61.8% = 2.87 ; TP5@100% = 3.26.

Hope that helps. MYEG looks good.

As I understand from the circular, the proposed private placement of RM100m RCN will be issued in 4 tranches with the 1st one for RM25m redeemable by 2016. Whether to pursue with the remaining 3 tranches or not is an option of Censof.

The conversion price is at the discretion of the subscriber which can either be at the Fixed Conversion Price (Tranch 1 is at 0.6034) or at the Floating Conversion Price based on 88% of the average closing price on any 3 consecutive mkt days. If the minimum scenario was to occur, the issued shares will increase from 377,730,000 to 672,546,000 while if the maximum scenario was to occur, it will increase from 377,730,000 to 724,991,000.

Either way, there is a dilution in the EPS. In the long term, how much dilution there is would depend on how positively the funds from the RCN exercise contributes to Censof earnings.

Matrix, Jap food is one of my favourite especially the hot sake. Enjoy your meal.

Connie, I forgot to mention, there is a free interactive chart online (not a live chart)which I also use at www.interachart.com. I don't know if you already know this site but you can specify what time frames you want on your EMA, besides all the usual stuff like Bollinger and MACD and others. You can check it out.

Have a good weekend everyone!

Metta, congratulations on your Engtex profits. Smart move too since you will be away. I am medium term with Engtex, so I will be holding a bit longer. Happy holidays.

Choolooi, thanks for your kind words.

Matrix, sephiroth, good luck with yr Titijaya IPO. Hope you guys succeed with a big allocation. I have very poor luck with IPOs.

Connie, just to add on to what others have commented, keep things simple with TA for a start and work out from there. There are a lot of noises in the market, i.e. can be in the form of news, tips, etc, etc and you need to filter them. But what I find most important is that you yourself must know your own risk profile and your own trading strategy.

Don't be discouraged by the big profits other investors make. Their risk profile and trading strategies could be different from yours. If you are happy making 10% or 20% profits, so be it. "Sikit sikit lama lama jadi bukit"

Just to share, in my own basket of investment, I have short term highly speculative shares, I also have medium term shares and some long term shares with good fundamentals and good dividend yield which I can keep for years just collecting dividends and for capital appreciation. The proportion of each of this category would depend yourself.

But whatever it is, you need to be clear of your own trading strategies. I hope that helps. And more importantly, Relax.

Matrix, thank you so much for the explanation. It certainly clears up the questions in my head.

Yeah, lets make lots of profits from Engtex.

I have scaled in some Engtex WA over the past 2 days. This time round, I am into both mother share and warrants.

Matrix, SKPetro on a weekly chart could be in the process of a double top formation. But on a daily chart it resembles more like a cup and handle. So, should we be looking more at the weekly or daily chart pattern because I remember you mentioning previously that you look at the weekly chart for longer term pattern or am I reading the pattern wrongly?

Matrix, Engtex is looking bullish. Barring any external factors, it should re-test its high of 1.78 over the next few trading days..

nasilemakseller, you should not feel scared after reading others' comments. Before you bought, I am sure you have done your own research into the counter and you must have a reason for buying in. If you have, then you should believe in your own assessment. Everyone have their own opinion and trading strategies. But you must a plan of when to cut loss and what target price to look for.

choolooi, congratulations on your Willow profit. Can have a nice meal with it.

Fortunebull, I totally agree with you. I am a strong believer and practitioner of the FA + TA. Lately, I hear a lot of people with a lot of tips on shares pushing up to certain price levels and stuff like that. Once this happens, we need to be very careful of the market. Reminds me of the big KLSE stock market crash.

Interesting Man Utd vs Arsenal game coming up this weekend. For once, I will be supporting Man Utd to defeat Arsenal before they run away with the title. So, Matrix, for this weekend only, I will be a Man Utd fan!

Metta, yes, the warrant has a lower entry cost but the conversion is 1.25 which means upon conversion Engtex wld cost 1.915. But of course, some investors are not too concern of the conversion as they will be sold before the expiry (25/10/2017 for Engtex WA) I prefer the mother share because the price appreciation can be greater and usually the warrant price would track the mother share's price.

Sephiroth, thank you for sharing your portfolio. Absolutely agree with you. Congratulations with the good returns on your stks. I like your basket of stocks, well researched, fundamentally very strong and bought at a good price too.

Have a great weekend everyone!

I have started accumulating Engtex at about 1.63 and will do so, as long as it stays below 1.64.

Matrix, thanks for the compliment especially from the sifu, i.e. you. Just trying to contribute so that the others don't make the mistakes that I made. I hope people don't get offended.

Actually, I am thinking of going into Engtex this afternoon. The volume this morning was low and I hesitated not wanting to be caught in a bull trap. The doji yesterday and the bullish pattern so far this morning was worth taking the risk. 1.61 is a good price.

IWalk, sorry, can't help but noticed your request on Fitters. I have been trading Fitters for some time and it has been very range bound between 0.67 to 0.80. I always enter between 0.68 to 0.70 and exit at around 0.78 to 0.80 and once at 0.82. I have entered and exited many many times for 0.05 to 0.10 sen gain and this is my trading strategy for Fitters. But need a bit of patience with this counter as sometimes it can be stuck at one level. Just to share my Fitters experience with you.

I like trading this counter because the trend is predictable to me. I will leave the chart reading to Matrix.

sephiroth, although I can't really say whether FA is stronger than TA or not, but I do absolutely agree with you that the fundamentals of a company are important factors to consider before we jump into any counter except for day traders who go in and out very fast. From my experiences, FA + TA is a very powerful combination. Its important to do a quick research on counters looking into things like the ones that you mentioned, nav, dividend yield, cash flow, sales growth, etc, etc.

The recent Singapore experience with Asiasons and Blumont counters where their price crashed to just a few cents are good examples of the shares skyrocketing to price levels not supported by the companies' fundamentals. Lots of investors got burned badly. It also provides a good reminder to us, as what Matrix has always reminded us, to trade with a plan, especially an exit plan.

Thanks for highlighting the fundamental aspects.

Ha ha ha! Matrix, from trader become driver.

Matrix, Inari is in the consolidation phase and it needs to clear 1.39/1.40 with volume to continue its uptrend. Sellers have been well absorbed so far. However, there is a price/RSI bearish divergence with slowing momentum on the counter.The MACD had a bearish cross over to below the signal line on 31/10. Its immediate support is 1.35 and its resistance is 1.40.

Please feel free to add or correct my comments. I am trading Inari and I have cleared some of my holdings yesterday at 1.38 for a 10sen profit in view of the divergence.

Metta, Engtex broke through 1.67 and it turned bearish today with more volume. Its immediate support is now 1.59 and then 1.55 while its immediate resistance is 1.68/1.69. In view of that, I will be delaying my entry to see if 1.60 can hold and also to wait for more sellers exhaustion. I will also wait for reversal.

Yes, Matrix did caution us about the 3 black candle and sure enough it turned bearish. So, my stand is to wait and monitor.

Matrix, indeed you are lucky. My brother in law and I put in a bid for UMWOG, but they restricted the bid to big institutional buyers for this counter which they normally don't. Good for you. Now you can include supper in, maybe, London into your international itinerary. Cheers.

Matrix, congratulations with Karex. You have been doing very well with IPOs. Great stuff.

matrix, thanks for the caution.

DJDJ, there are many exit strategies. I will try to help you. There are many skilled and kind investors in this forum. But remember that exit does not just mean selling when there is profits but also selling to cut loss when the price turn against you.

1. Some investors set a target price. Once reached, they sell without looking back.

2. Some will just decide to target a profit of 0.50 sen for every counter and once hit, sell.

3. Some use TA to analyze the trend and sell accordingly. This is a good method but you need TA knowledge. There are a lot of good technicians in this forum.

I personally use TA to determine exit points. Do remember that you can never sell at the highest and buy at the lowest. And volume trends are important. Hope that gives you some rough idea.

Bsngpg, you are very generous yourself too. Thanks.

Below are my suggestions to you as a relatively new investor and also to share some of my experiences. Please don't feel offended but just take it from someone like me who have lost big time money during my early days of investing.

1. Gain knowledge in fundamental (FA) and technical analysis (TA). These are tools that will help you in what to buy, when & how much to buy and sell. Not a guarantee that you will make money but they will maximize yr profits and minimize your losses.

2. Decide on your own risk profile and then work out your basket of investment. In your basket you may have 70% of yr funds in high risk speculative shares and 30% in defensive shares with dividend yields. Some investors may go 90% on speculative depending your risk appetite.

For example, I hold shares like TM and Digi long term for its high dividend yield and I also trade speculative counters.

3. Understand that you will make and lose money in investing but you want a high success rate of profits. All investors will tell you that out of 10 trades, there are some counters that they will lose money but the profits outweigh the losses.

4. Don't be greedy. Take profits, even if the shares shoots sky high after you sold and learn to cut losses. I once had AEONCR at 3.2 but sold off at 4.50 and then the share shot up to the current price of 16.12!

5. Do your own research on counters. CARDINAL RULE: Never Never Never listen to tips even if the informer claims inside information!

I had experienced syndicate play first hand once and profited from it. Believe me, it is cruel. We do "stealth buying" and when the tip is out, we were selling.

The suggestions above are not exhaustive and others may want to add to it. Many of us have lost money and I surely hope you will be successful in your investment. Good luck!

Matrix, Engtex formed a hammer pattern today. Based on my Fib Retracement reading, it seems to have bounced off the 38% retracement level today (subject to further confirmation on Wed) which happens to be about 1.67. If the counter can hold at around 1.67, I may be looking at an entry price of around 1.67 to 1.69. What do you think?

Oops, sorry Metta, Engtex just trended lower to1.68 today.

Metta, i am closely monitoring Engtex for entry again. I sold off 1 - 2 wks ago at 1.73. It is holding very well within the price range of 1.71 to 1.75. When i do enter, it will be my 4th entry into this counter.

i have disposed a portion of my Censof today at 0.64 to lock in some profits.

Matrix, you may want to check out MBL for maybe a quick one as it is getting bullish. It gap up on 29/10 with volume and it has been trading at above average volume (avg vol = 154,526) since except for 1 day. Sellers are well absorbed. It gapped up again today. Resistance price is 1.23 and support price is 1.09. Seems to have started on a wave 1. SMA (12,25) and MACD crossed over on 29/10 and 28/10 respectively.

Matrix, thanks for sharing your plan. That was great stuff. I seldom calculate the risk ratio although it is good to have it as part of the plan but I estimate the maximum loss i can take on the counter and work backwards. Maybe i am a bit lazy to calculate it but having a risk ratio is the proper way. Anyway, so good of you to share out yr plan.

I am a die hard Liverpool fan since my childhood days and I am a footballer as well. I use to play in the local league and also during my university days. This season, at least Liverpool fans have something to be excited about especially with the good start to the season. But last night was a bit disappointing with Arsenal but then again Arsenal deserved to win.

Happy holidays to all and may the good money flow into your shares this coming week!

Happy Deepavali to whoever who celebrates the occassion.

Matrix, congrats on your UMWWOG.

Matrix, Daya broke out from 0.37 these past 2 days with volume. Would you consider this as the 1st wave? Thanks

Elton, you are not wrong. All depends on your own trading strategy - short term, medium or long term play. Better to have profits than loss no matter how much the profits.

choolooi, ha ha ha! good to think of profits all the time. Yeah, you're right, invest88 sums up everything.

Matrix, as always, appreciate your comments. I always like your analysis. You have an eye for critical patterns in the charts. Weida has hit the 1.90 level.

twobits, just to weigh in on your scenario. If a counter is about to break in a bearish overall market, I would trade but my holding period will be very short term and my trailing stop would be high. With your Scable example, although I am not very familiar with this counter, depending your risk appetite, I would probably wait for a bearish or bullish confirmation first before entering. Just my opinion based on my limited knowledge of Scable.

choolooi, forgot to congratulate you on MYEG. Congrats! Really happy for your windfall gains. In trading, it is profits like these that really makes you feel good. Cheers.

Matrix, pls check out Daya Materials. It first broke out on 1/8 with volume then retraced and consolidated and on 10/10 started on an uptrend. It broke out again on 22/10, also with volume and then there was a tussle between buyers and sellers. It formed a dragonfly doji on 24/10 followed by a gravestone doji on 25/10. On 29/10 a bullish engulfing pattern emerged. It has strong support at 0.345 with a resistance at 0.37. I believe it is on the verge of a breakout from 0.37. Kindly comment.

Matrix, for chart pattern, would a weekly chart give a better picture than a daily chart? I use the daily chart more.

Choolooi, actually its more than 1 yr with Censof (so long ago that I can't even remember when). Yeah, lets reap the windfall together. I think in Hokkien they say, "Huat ah!"