On a lighter note, this Mandarin song really depicts how PM Corp feels....enjoy....

http://www.youtube.com/watch?v=oGV1WHEu9g4

I begin to see some resemblance between PM Corp and XDL. Both are trading way below their respective NTAs, but investors are just not keen to invest. I believe, the former is linked to its KKP branding and the latter, the China stocks branding.

No easy solutions unless the managements are prepared to take drastic measures to change their brandings and transparency
and improving shareholders' values.

Yes, the CA issuer will usually hedge its risk by holding sufficient units of the mother shares.

From my observation, to attract buying into the CA, it had pushed up the mother share in the first few days after the CA was listed in March. Now, its price is on a gradual decline.

Next, if we look at the mother share, it has gone up a lot in the past 1 year. A lot of good news has been priced into the counter. What more can we expect?

Of course, the CA can still fluctuate intraday and traders can still make some money, if not greedy. But it should deteriorate more nearer to expiry date.

Just sharing my limited knowledge. Hope to caution the novice investors from keeping the CA on a longer term.

3 groups of individuals are currently into this counter:
a. Shark/operator: Still stuck with a lot of shares in this counter. Could not manage to dispose more;
b. Long term investors: Only see value goes up and down. No actual gains and suffer opportunity costs;
c. Short term traders: Marginal gains from short term trading.

Between CA and WA, the real great difference lies in the intention of the issuer. For WA, it is issued by the company concerned as a fund raising instrument. Hopefully, at the end of the expiry date(5 to 10 years later), the shareholders will be able to exercise the warrant and bring in cash for the company. But CA is issued by a 3rd party issuer, on a shorter exercise period of 1 year or less. The issuer will usually choose a good time(when price is already high enough) to issue the warrant. Hopefully, at the end of the expiry date, the warrant will lapse worthless or less than the issue price. Sometimes, the issuing institution can also go into the cash market to trade the mother share(with a view to affect the CA price). Like that, the 3rd party issuer can make money out of it, from the warrant-holders.

For this CA, does it occur to you why we need 6 CA and RM 3.72 to convert 1 mother share? What are the chances that the mother share will end above RM 5(or RM 2.5 if adjusted) at the end of the expiry date?

Please do your own analysis and trade at own risks.

Humbled, glad to hear from you after a long absence. Your re-appearance will surely add humour and life to this forum thread. Cheers!

Bracoli, there is always a right price for each stock. We must decide how much it is worth, taking into account all the relevant factors.

Calvin,

Sad to say that, this counter has lost its appeal after the exodus by most of our forumers. Shark has attempted to move it higher, but failed as selling overwhelmed buying at above 22 sen levels. This is evident by the most recent failed attempt to break through the 23 sen barrier convincingly. Let's see if the shark will make another attempt when selling subsides.

It will probably move up a little once in a while. Only when there is a sale of asset or when market has turned decidedly positive, it can move out of the narrow trading range. Even so, it is just a shark's play at most. Like what I highlighted months ago, so long as the management does not take steps to enhance the shareholders' value, this stock cannot fly high at a sustainable level.

That is all I need to say. Not a buy or sell call. Do your own analysis.

Kukuman, I used to think that you were prejudiced against Calvin and tried to talk down on his counter. Now, I can understand you better. Ever since Mike had been asking our forumers to cut loss and switch out of this counter, it has been languishing. Short term traders are making trading profits, instead of longer term investors. What an irony!

Zu1967/AyamTua, things are different. This counter has not much buyer support and market sentiment isn't that good. Scared that the shark dared not push too high. Got profit, can take first and sell progressively like the shark, when pushed higher.

How to 'respark' the flames when most of the old guards have decided to leave it in the lurch?

That is why I dare not aim high nowadays.

The shark is really 'smart'. He 'conditioned' our minds to think that this counter would drop below 21 sen. A lot of our forumers have been 'cheated', including Mike(4 times in a row).

Apart from Humbled and Leno, I also added some shares at 21 sen. Today, I took some profit at 23 sen. More will be sold to the punters if they are made to chase the shares on Monday.

Ha! Ha! Trade at our risks.

Humbled, it is moving now.

Our forumers here are not keen to buy this counter as it is stuck in a small range. Once the shark has collected enough and makes it run, then our friends would 'feel very high' to jump in as they believe in "buy high and sell higher". Just look at Insas and you will know what I mean.

Ha! Ha! This is the irony of the stock market, which the sharks are more than glad to capitalise on.

Leno is Mike's sifu(as Mike has said so earlier). Better give some due respect.

Ha! Ha! Once a sifu, forever a sifu.

To me, cash payout(if any) is just a bonus. It should never be our sole consideration to buy this counter.

We buy this counter for its assets(an assets-rich counter). Once there is an imminent sale of an asset, it will usually be played up by the shark, without us pushing it. No need to promote one.

Ha! Ha! Trade at own risks.

Zu1967, I am still around. But my attention is currently focussed on my other counters like Insas, Public Bank, etc in my portfolio, which are going up beyond my wildest imagination.

PM Corp is in my highest freezer compartment. It is still stuck in the 21 sen to 22 sen range. No excitement to warrant my extra attention. In my humble opinion, the counter could only move in a wider and higher range when there is another sale of asset.

Ha! Ha! Trade at own risks.

Strangely enough, up to 3.20 pm today, no trades have been done for PM Corp. Buyers and sellers are past the trading mood, despite meltdown in most penny stock counters.

Ha! Ha! See if it can create a historic record with no trades done in a day where most traders are looking to the tiny door of exit.

Leno, I do not own TAFI anyway. If I were promoting, I would not be asking MIke to sell!

Mike, your stockist friend is pushing up TAFI to offload? Better sell when there is volume.

Ha! Ha! Good luck.

Mike, just taken my lunch. Usually I do not make wild dreams after lunch.

I think you may need to convince Leno, Swingtrader, etc to cut loss first before it can go down below 20 sen.

Today, Bursa issued an UMA over Extol's recent spike in its share price. Let's see what it has to say. Even before the reply is out, the shark has tone down a little.

Ha! Ha! Trade at own risks.

Extol was one such counter that went up 6.5 sen to 39 sen in a down market last Friday. This prompted me to take a good look at it.

It started to climb up from around 12 sen in early Feb 14. In just 1.5 month, the price shot up to 39 sen. This is simply amazing. But when looked further, it is just a loss making company. As at last quarter 2013, its NTA per share was merely 12.76 sen.

Who would be interested in such a company? Based on KLSE filings, it seems that Swift Icon Sdn Bhd has been acquiring the shares(as at 10 Mar 14, holding 28.79% of the shares).

I wonder why the company would be keen to acquire shares of a loss making ICT company? Is there anything that we investors have missed out?

Ha! Ha! Trade at own risk.

Despite lacklustre stock market performance, Gold is glittering at US $1367.30 an ounce, thanks in part to the tension between Ukraine and Russia.

As to how much more it can go up, it is just anybody's guess.

Ha! Ha! Trade at own risks.

I just took a look at Infotec. It started climbing up from 21 sen in Oct last year, to a high of 69 sen on 10 Feb this year. Now, it is hovering at a low of 39 sen(top volume today).

A lot of retail investors are probably trapped in this counter. And nobody dares to pinpoint where the bottom is.

Really a sad case. Trade with caution.

Swingtrader, yes, that is trading the stock, just like the stockist.

Swingtrader, if I read my postings, you would know that I never asked our forumers to sell at depressed prices. In fact, I always ask them to wait for a better time to sell.

Swingtrader, my Malay is no good. What is orang gila? I am sure I did not call you that.

Swingtrader, I remember the last time you came in and the price started to move to 26 sen. Let's see if this is going to be a repeat telecast.

Swingtrader, I thought you are with sifu Mike, earning big bucks in the fast moving counters. Not interested in slow moving counters like PM Corp.

Anyway, welcome back!

Swingtrader, I thought you had lost interest in this counter? Looks like this counter is not looking doomed as some had proclaimed.

Leno, with you around declaring your intention to collect big-scale, nothing beats that. The shark needs to give us some due respect. Needless to say, Humbled and I have to step aside too.

We welcome you as our new captain of this abandoned ship.

Leno, you sound so confident. I like your style.

Humbled,

PM Corp looks well supported at 21.5 sen now. Just as we thought the buy volume at 21.5 sen was about to be filled up, more started to queue at 21.5 sen.

This seems the same trading pattern for MAS shares too. Most thought it would drop below 20 sen. But it looks well supported at 24 sen now, maybe by some local fund???

Ha! Ha! This is never as easy as 1+1=2.

Humbled, now you can concentrate on your work. No need to peek at the prices regularly. PM Corp is probably stuck in the narrow range between 21.5 to 22 sen for a while, before the shark decides on the next move.

Ha! Ha! Let nature take its course.

Leno, market really rewards you for your contrarian approach to value investment. Now, the shark has to give a little respect to your coming aboard this abandoned ship. Cannot anyhow churn volumes or be forced to buy back higher. The whole morning, only 30,000 shares traded.

Ha! Ha! Trade at your own risks.

Hi, Leno,

I saw your posting. I like your investment style. Out of 6 counters listed, I own Insas and PM Corp too. Now, I know I am not walking alone.

Be a contrarian. Buy low and hold for capital gains.
---------------------------------------------------------------------
Leno's posting - Mar 7, 2014 11:25 AM | Report Abuse

My current holdings
1. Insas (current price 90 sen)
2. Prkcorp (current price 3.67)
3. MNRB (current price 3.94)
4. LCTH (current price 20.5 sen)
5. PMCorp (current price 21.5 sen)
6. OSK (current price 1.62)

These are my current ubi kayu stocks ... people no want to buy one.

Mike, now you should understand why your predictions have failed 3 times so far. You underestimated the power of our fellow collector, Ms Leno.

Ha! Ha! Trade at own risks.

Very interesting article:

http://klse.i3investor.com/blogs/kianweiaritcles/47996.jsp

Humbled, yes, it was reported on the internet news. Got to wait for further announcement on the details.

Life is short, treasure the people around you.

Humbled, just as I thought most investors had abandoned this ship, there are still some hardcore supporters seeing value buys in it. Beauty lies in the eye of the beholder.

What is a person's meat is another's poison. Ha! Ha! Never impose one's judgment onto others.

During a dry spell, water level has subsided. Water rationing may be imposed. But this is a temporary phenomenon. When the rain comes, water level will be raised and all boats will be lifted up too.

We just have to wait for the rainy season to come. And this is just part and parcel of a natural order. Stock market cannot deviate from this law of the nature too.

Ha! Ha! Trade with your spare cash and not on borrowed money.

Humbled, I am always amused by your humoured postings.

Benson911, I am not an expert in property purchases. But I do know that the prices are too high to chase now. If you are not in any need at the moment, you can wait for the prices to correct first, probably in the next 2 or 3 years when interest rates start to trend up much higher or another economic crisis.

Do not chase assets now when prices have already gone up in 'bubble' territory.

Just my views only. I could be wrong too.

Mike, I am fully diversified. I invest in a combination of blue chips and laggards. I am not worried on penny stocks meltdown. I take this as an opportunity to average down my holdings.

In every crisis there is always an opportunity, depending on our outlook.

Today, the play is on selected 2nd liners(above RM1). Penny stocks are still in consolidation. It may take a while(up to sharks' timetable) before the sharks revisit the penny stocks for another push.

Ha! Ha! Trade at own risks.

A gem is nothing more than a stone, if there is no connoisseur to value it. For PM Corp to be properly valued, we need a qualified stock analyst/media report to do it. Without this, a gem(if really qualified) can still remain a stone for years to come.

Currently, we rely on Mr Shark to arbitrarily value it at 21.5 sen per share.

Ha! Ha! Trade at own risks.

Most speculative favourites are off their high today. Sharks are probably dishing out their collections to sell to the punters(already declining in number). In Chinese, it is called, "Tiger head, but snake tail". This is a typical sign of a consolidation phase.

Ha! Ha! Trade at own risks.

Humbled, 21 sen is a good level to accumulate. If TA is indeed reliable, 21 sen is seen as a critical support level, failing which it might break down further. In fact, this was what you mentioned in your analysis earlier.

Your analysis has really improved a lot and it is kind of a balanced view. This is really what a good analyst should be. Also, I congratulate you on your longer-term accumulation at 21 sen. If there is no more bad news, it could be a 'double bottom' in TA analysis.

Ha! Ha! Investment is an art, not a science.

In this recent correction, a number of retailers are burnt. Now, there is caution in the market. Sharks are trying to push up some favourite counters, but retailers are reluctant to take big positions now.

This is evidenced by a drop of trading volumes these few days.

Ha! Ha! Trade at own risks.