A bit late to buy anything. Globetronics, Vivo, Parkson, SKPetro etc. Better to wait next week. Don't know what might happen in Europe and especially the US during their trading hours. More peace of mind during the weekend.

The general market going down dampens the rebound. But the fact that SKP seems to have found the bottom is critical. It will encourage more to come in. Especially those who had hesitated yesterday.

The institutions' bottom-buying of the shares from Seadrill has been the most important aspect. With the volume involved, SKP's price could have been like what Armada experienced some weeks ago. Now Brent crude oil is recovering too. All it needs is for better sentiments in the market for SKP to get closer to 2.00.

@speakup Buying only 1/4 of intended capital - sounds like a prudent strategy. I'm approaching it this way too when it comes to perceived 'bargains'. Must always be aware that it could get cheaper still. But it's also possible the selling is over and it will retrace. Your system allows flexibility either way it goes.

Significant drop in the last session, on very heavy volume. We can only guess how it will be on Friday. But one comforting fact about Seadrill's selling is that others had bought. In Seadrill's case, it's basically due to the company needing the cash. Not really due to it having a problem with SKP. I'm going to see how it performs today...to see whether the support holds.

The 4,61 support didn't hold. Now 4.56 is being challenged. Going to watch the close. Might be an opportunity to nibble. One-third of the intended capital might be prudent. If 4.56 doesn't hold, at least the other two-thirds is still uncommitted. Have to take risks to try make a profit.

Critical point here with the Buy-Sell tug-of-war. If 0.77 doesn't hold, it's prudent to liquidate first and let it form another support level. Can't be emotional with this or any counter. Protection of capital takes precedence.

It needs a certain kind of speculator to trade in this counter. Me... I think I'll just limit myself to the FBMKLCI- call and put warrants. Still tense and stressful, but nowhere near this one.

Only hardcore cowboys would dare to trade it right now. The "All or Nothing" type. But it's these fellows who make the grossly outsized profits. Or lose everything trying. I definitely don't have the courage to even try.

Fast running out of buyers even at 0.005...

Don't let our individual sentiments, bias and prejudice cloud our judgement. It will result in us missing opportunities and making profits, or in making avoidable losses if it's the other way. With a counter like this, it's much better to just watch the technical readings than to be concerned about fundamentals like crude oil price etc.

The price action shows that the recovery from 0.71 is still intact. If you are hoping it will go to 0.50... well, it must go below 0.71 first. But it's not near that. It went below the important support of 0.775 BUT immediately bounced back. That was VERY important because it showed solid support at that level.

Many contracts came due yesterday and today from last week's heavy buying. But the market is absorbing these, and that's another encouraging development. 0.83 is stiff resistance, but the range from 0.775 to 0.83 is reasonable enough to profit from.

It slipped below the important support of 1.99. That could mean there's more correction ahead. A lot will depend on the afternoon session. A strong finish off the lowest point is crucial. It's better to wait and see first.

Another drop but there are also encouraging signs. It went below 4.00 BUT immediately snapped back. That's very important. Could be the bottom being established there. But will have to see the action in the afternoon first.

For genuine investors (as opposed to many of us here who are traders and speculators), they are in for a shock when they see today's price. Usually they are the buy-and-hold kind who are into counters that pay a dividend, and they'd only check occasionally. They aren't concerned with normal daily movements. But today's action isn't normal. Will have to wait until tomorrow to see how far it still has to go. This could be an opportunity to buy at a good price. But only after the market has adjusted to whatever news the company will be announcing.

If directors had sold today based on information that hasn't been made public (quarter results, contracts etc.), doesn't that constitute insider trading? They have an unfair advantage over everyone else, selling today at a higher price knowing that the market will react negatively when the news is announced.

@Not_logic That makes today's drop all the more puzzling and scary. Most everyone were in agreement this company is doing well, and expected to remain so. The previous support had looked extremely solid. But yet it dropped this much, and on very big volume. Chain reaction and investors cutting loss are one explanation for the steep fall. But there's likely more. Some insiders know something.

Yet another evidence that investors musn't let these analysts' opinions and TPs be the main reason for buying a counter. Sure, they can come up with convincing-sounding reports with neat charts and tables. Sometimes they might be right. But it's price action that matters the most. 5.21 was supposed to be strong support. But if that floor was breached, that's the cue to sell and cut loss. However, it's easier said than done, of course. Not many would have the discipline. They would wait, hoping it would rebound soon.

The price definitely looks attractive right now. But must be cautious and see where the support line is first. It's no fun buying `cheap' and then seeing the counter becoming even cheaper.

Watch whether 0.775 holds because a lot of units from last week are coming due. Must see whether the selling is absorbed. If it does, then we can look at this level to be strong support. And 0.83 as the resistance.

Based on the movements, I believe these are true (for now): (1) 0.83 is strong resistance. (2) 0.775 is the support. (3) Armada closes midway from the lowest and highest point, which I interpret as "Neutral".

Tomorrow will be another important day. There are MANY contra buys outstanding from yesterday. It will still be T+2, which means settlement is only next Monday. But as we have seen, contra players are extremely jittery. Especially with Armada shares. I think the most important thing to see tomorrow is the 0.775 level - if it holds, that will be very encouraging because it mean the recovery is still on. If it doesn't, then all bets are off... because the contra players from yesterday and today will be rushing to take profit or cut loss.

But if 0.775 does hold, it will be rather attractive for traders in the coming days. If it's the support, and the resistance is 0.83, that's a potential margin of 7% to try squeeze. It may not look like much, but put in enough quantity and the results will be satisfying.

One step at a time though - wait for tomorrow's action first.

@flyingkite Maybe. Which is why I'm waiting to see how the afternoon session goes. Especially the close and its relation to those important levels. We will have a better idea of whether the selling could be absorbed.

Instead of arguing about things like "EPF, Armada Clair case, analyst-say-this", just watch the technical readings right in front of our eyes. These are facts, not speculation. These are the facts right now (although they are subject to change, as with everything else):

1) Armada has gone past the resistance of 0.775 AND 0.805. 2) It is now at below its highest point, but still above those previous levels. 3) If these levels hold, then they become the new support.

I'm going to see how it ends today. Can't expect it to go up in a straight line - it needs to consolidate and build a new base first before moving higher. At the same time, we also can't discount the possibility that the sudden surge is just a flash in the pan. So, just watch the price action. Especially those two levels.

Quite a number of sour grapes here - those who didn't buy Armada earlier, wished they did and now wishing it would drop again...so that they could comfort themselves into feeling they are "partly right"...? :-)

Learn from experience in the stock market. Price Action is everything. It might last longer, or it might not. Just watch the charts and numbers to see what's going on, and act according to what they say. Not what we hope will happen.

@Junichiro That's okay. Any kind of profit is a good thing. It's not possible to squeeze the maximum every time with the trades that go our way. But as long as I didn't make a loss, that would be an acceptable situation. Or if I managed to minimise the loss.

@sheldon Good luck! Have to take risks if we are to try make a profit. I'm still watching and waiting. Trying to get just a little bit cheaper. But it will be just half of the allocated capital for now. Must be reasonably sure first that the support is at this level. The fact that it bounced off 4.64 is noted. But let's see how it goes tomorrow.

Affin analyst says "Sell", Maybank says "Buy". So who is right? Based on previous experience with these analysts, it's much better to make our own conclusions. If we want to support our argument on either Buy or Sell, and provide 'evidence', we can easily do so by cherry-picking a report from these analysts. Either way.

But our experience shows that the market doesn't care about what these analysts say. It's price action that matters the most. When it comes to stock prices, it's all about sentiment. And the underlying trend that follows. Let these analysts talk about oil glut, Saudi, Iran, shale, China demand and whatever. And accompanying this with neat-looking charts and tables. But for traders, it's the price action that we should focus on.

And back to Armada - it's a very good day today. With a very encouraging close i.e. just a pip off the highest daily price. The charts are looking much better. But watch how it faces the most immediate resistance levels tomorrow - 0.775, and 0.805 especially. We will have a better picture tomorrow when it faces these resistance, and profit-taking.

Can't be too ambitious. I'll be happy if it closes not too far from the highest point today. That will mean the momentum will be sustained tomorrow, and that the market is absorbing the sellers. Don't want a flash-in-the-pan. Up significant today, and then crashes tomorrow.

By the way, IOICORP is a counter that I had never bought in my entire life. Neither the mother nor its structured warrants. The only reason why I've come to this thread is to check on why it is slumping...to see if there might be opportunities. I could have just dismissed the attacks on hng33. But I decided to say my piece...because I want to. And to offer what I do know of hng33 from his comments.

Some people don't like his way of declaring his buys and sells, for some reason. "Cocky and arrogant"...? Hardly. Not like the loud mouths and possible liars who announce they had made RMx hundred thousand AFTER a counter had gone up. Who are they trying to impress? Anyway, if you don't like hng33's style, or of what I think...that's a problem which you have to deal with. Nobody controls what others write here, and how. Grow up!

Quite a number of immature people sulking :-) They simply can't accept it when others don't agree with their opinions. But it doesn't matter to me what these losers think. They are irrelevant to things. But I will continue to write what I think. Plus in defending those who actually contribute to this forum.

One thing I like about @hng33 is that he's transparent, and not afraid to reveal his wins AND losses. He does his homework, watching the technical readings. Often, when I'm hesitating to buy something, and then see hng33 buying, I become prompted to take action. Not all the trades are successful, of course. But that's normal. Nobody has a 100% perfect record. 50% is actually enough...provided we cut the losers early, and let the winners run. And these actions by people like hng33 can be useful in helping us make decisions.

Hello Mister EPF Fund Manager: are you still selling? If the portfolio-trimming move is over, I'm thinking about speculating on a recovery. Some good news will definitely result in a knee-jerk upward reaction. Concerning Armada Claire, for instance. The client might agree to pay compensation without going through the court process. That would be good for Armada.

But watch the very critical 0.705 support level. If it goes below AND fails to immediately bounce off, then it will be another round of finding a new bottom. Wherever that might be.

It's on an obvious downtrend, so it may be prudent to just wait and see first. Watch the support at 4.61 which ChartNexus has marked as significant. Bottom-feeders could come in at around there. If it doesn't hold, the next support would be 4.56. Digi had done well for traders, peaking at 5.80 last October. 5.00 was previously very strong support, and then 4.80. Digi is undergoing a normal correction and its time will come again. I'm going to wait for the process to complete first and come in when I'm reasonably sure of the support. This is like AirAsia - good counters to trade.

0.505 is such a stiff resistance. This level has foiled a breakout a few times already.

The end of trading later today will give a clearer picture. If it closes at near the highest point, that would be the best case situation. If it closes in the green but well off the highest point, that would be "Neutral". But if it closes in the red after this promising start, that will be very bad. Because it shows that EPF is not done with the selling yet, and the bottom hasn't been established.

In the meantime, all we can do now is to guess and speculate.

@supermix2 I'm only using `agak-agak' here :-) Have to make guesses since we aren't privy to what others - especially the big funds - have in mind.

*Special Request to EPF: Please stay away and don't kacau, okay?

EPF may be selling every day but I don't think they will dispose of all the shares. If that's the plan, they might get a better price by selling the whole block off-market to some other party. I believe they are 'just' trimming to a certain percentage. Maybe to 5%...? It's not unusual for the big funds to review their holdings; either to add or reduce. For whatever reason and strategy. That's what EPF has done with Shell a couple of months ago. It sold a significant amount, but not all.

Wait and see what TM-P1 are offering tomorrow. If it's just P1 entering cellular, not many will take it seriously. But with the giant TM, then it warrants attention. Let's see the details. Only then will we be able to assess how much of a threat webe might be to Digi and Maxis.

By the way, I think Digi should do better than Maxis. From what I've been reading at Facebook, looks like there are so many dissatisfied users. Maxis responding with a better package has contained this somewhat. But many had already left.

Anyway, "share price" is another matter. Right now both Maxis AND Digi are on a downtrend. Have to check the nearest support first and see whether it holds.

Have to wait for EPF to complete their profile trimming first. There won't be a bottom until the process is completed. At least the selling is fairly controlled. If not, the price would easily be in the 0.60s right now. Watch 0.70 - if this doesn't hold, then there's more bleeding in store.

I'm keeping an eye on the structured warrants. C8 especially. With these things, you have to jump the gun and do some guessing. But only when selling by EPF shows signs of stopping first.

@daitoryu I'd say that is a prudent move. No one is questioning that it's a great company. But it's not wise to be stubborn when the technical charts clearly show a downtrend. It will find its support soon enough. But for us small investors, I'd say it's better to get out of the way and let price action sort things out first. We can always buy it again after this.

EPF still has 452 million shares or 7.7%. That's a lot. I don't think it will sell all. But if it decides to trim the portfolio to 5%, that's still a substantial amount. The impact will be worse if it simply lets go at whatever the buyers bid. The price of 0.73 may be at the lowest point. But that doesn't necessarily mean the floor has been reached. It's dangerous to try catch the bottom. I feel it's more prudent to be patient and wait for signs that EPF has finished trimming their holding. The buying price may be higher but at least we will have a bottom that we're reasonably sure of.

Goes to show that investors should be wary of these calls by the investment bank analysts. "Oversold attraction", "Outperform" etc. Their arguments may be plausible but with a counter like this which had just suffered trauma from the Armada Claire termination, it's more prudent to watch the technical charts. Especially with EPF unloading.

We don't know what's their plan, i.e. how many more shares they want to sell off. The price may look attractive but when a big investor like this is giving away at Buyers' asking prices, it will be stressful for us. Must be patient.and wait for signs that EPF has gone away first.

This is the best post I've read today. Thanks you for sharing this, and making me ponder on what are actually the more important things in life. And these are not the so-called "hot issues" that we read every day in the media.

When you write anything that isn't positive to someone's interests, it's a sure thing that he will get offended. In this case, speculators who holding on to Sona-W. Some have very big holdings, going after a bonanza OR bust. Have to admire them for their courage. But if one is afraid of hurting others' feelings and offending them, one can never write. Because either way, someone somewhere will always have a different opinion. Or want to hear what's comforting to him.

This is your blog - YOU decide what to write about. If someone disagrees, he should write a comment that rebuts the points here. Or just keep quiet and move along. Attacking someone whose opinion is different without offering any substantial counter argument is childish and doesn't reflect well on the writer. We must be brave and willing to hear different views if we want to improve our results in the stockmarket.

There's finally positive movement with Parkson. But have to be cautious. See how it goes in the afternoon. Is the price sustained, or will some investors take this opportunity to sell?

mamajeru Now I'm envious! Congratulations. Must have that kind of courage to make big and quick money. It must have been stressful although it's well worth it when it went your way. I don't think I can go through high stakes punts like this one. At the most, I'd buy the index structured warrants. Risks there too but not as tense as this kind.

@mamajeru I don't dare with this kind of speculation. Won't be able to focus on my day-job work :-) Had made a few ringgit from trading this week so I'm trying to end it on a positive note. I'll just watch at the sidelines.

Wow! This is exciting. Definitely the most happening event at Bursa today. I'm too chicken to risk in this all-or-nothing speculation. But have to admire those who are very brave. Can't begrudge the profits that they make, if it comes to that.

The loss is just due to Forex translation. It's not like SPB is into Forex trading and converting the US, Australia and Singapore dollars to ringgit. There is actually an increase in revenue. Project launches are postponed. A bit disappointing but expected given the current mood. In fact, better to be cautious than to be too brash in starting new projects.

Some people were too hasty to sell, without fully considering all aspects. They forgot about the 50 sen dividend. The bigger investors saw an opportunity and came in. The price has gone up again the last two trading days. The dividend is a comforting safety net.

Excellent post and analysis by @jayloh. Much better and more informative than what we've been reading in the newspapers. Or by the investment bank analysts.

4.80 is the critical support level. Would be a good entry point. But if this level doesn't hold, then TP will likely keep sliding. Traders are jittery with export counters and not daring to commit themselves. May be better to just sit it out for the time being and be a spectator.

I'm considering only the price action. It's up right now, but traders seem to be in indecisive mode. Going to wait for them to make up their collective mind first.

sklyte, you are right about it being cheap. Comparatively, with other gloves makers. But with a counter like this, I'm more inclined towards what @manji says. Especially if one is a trader and doesn't care about dividends and such. Better to respond like a Lalang swaying towards where the wind blows.

@santiago I think that's the more prudent move for now. The results are definitely not bad. And many didn't expect it to be as good as the preceeding two quarters. But can't deny it's rather underwhelming. Now the figures for the rolling four quarters don't look particularly outstanding. Let's see how the big investors interpret it, and let the price stabilise first. 5.30 was the previous strong support but now it's violated.