After June 30 (Top Glove), no gloves CW expiry until 28 July - so one full month of uninterrupted bull run.

CharlesT Only u guys r so free to entertain him only...lol

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Haha I think today I too free. Better find other things to do!

sharesnewbie frank, the EPS will factor in their expenses also. how much they spend to buy a new land ? and machine / cost is not low, so the EPS deserves a discount, when it goes lower expectation, even if the report shows revenue. it will go low also, somemore there are many weeks to announce QR.

and i saw here previously got ppl go ask supermx reveal the report ontime or early ? i wonder that will work.
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Since when buying land and machinery is an expense???

sharesnewbie @freetospeak

correct, totally agree with you. i also dun believe in IB report, when a lot of IB shares their look good to certain industry shares, definitely we are taking maybe 3rd hand or 4th hand info already.

do own due deligence, calculate the own EPS by factoring ur own justification (not those ASP, info shared by IB), that will make u grow in shares knowledge. of coz for u is just piece of cake to do this. but market is dynamic.. our calc is just a reference.

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I don't think anyone here believes the IB reports. It has to be read between the lines along with all other information to understand the IB's plan and timeline. Having read them, I still think the market remains bullish once we get past this 1.5 weeks.

Despite all the negative chat, added more when price plunged. Today's average buy 6.73. Not asking anyone to buy as my overall average cost is still below 2. Do your own due diligence.

I think tomorrow onwards still sideways till Top Glove warrant ends 30 June.

In March 31, Supermax C75 warrant ended but price stayed sideways due to Top Glove warrant expiring April 10. Price started moving up after April 10. So I'm assuming another 1.5 weeks of sideways action for Supermax. Still waiting for cup and handle formation despite the naysayers.

No more warrant tomorrow. But TG warrant will still keep a lid on glove prices.

Ntpboon Just wonder these are program selling as both TG and Supermx reaching low price coincidentally at the same time.

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Gloves stocks are controlled by sharks/bankers. They dictate when it goes up/down.

Today is 5th and final day of the 5 days average for call warrant C79 expiring tomorrow so final opportunity for macquarie to press down the average price.

Feeling dejavu like March 2020 when the global market crash forced Supermax down to 1.30. Many panic sellers. Others like myself bought more. Of course the share buy backs helped to give us confidence but many have already bought before that and chose to hold tight. Bear in mind Supermax dropped even though COVID19 was spreading more wildly (sounds familiar?). The timing is not determined by market, it is determined by the banks/sharks. In fact, people started buying gloves shares in end January and price shot up when the China epidemic became more apparent but it got quickly whacked down by the sharks as that is not as per their timing. Haven't finish collecting?

Been holding since Dec. If you look at the past 10 years chart, glove bull run usually last 1 to 1.5 years and that is normal glove bull run, not one fueled by global pandemic. Even the 2009/2010 H1N1 bull run lasted almost 2 years and % growth for Supermax is higher than current price growth. Now we are only 6 months in with a once in a century global pandemic.

Of course now is consolidation time and sharks are still collecting. How long and how low they want to collect only they will know. Everyone has their own entry price. If you need to cut loss, you need to cut loss. But I suggest you look at the March-April 2020 chart to give you an idea of what may come soon as this feels almost exactly like the same script.

Added 6.72, 6.8, 6.86. Disclaimer: my original entry cost is very low.

Top Glove call warrant expiring 30 June - that's why

Same chart as 24 Feb 2020 onwards. Cup and handle forming. Timing is perfect - tomorrow CW expires, early July Supermax analyst reports out.

Final day sale. Tomorrow is Friday.

Similar pattern from 24 Feb 2020 onwards. Looks like head and shoulders but turns out to be cup and handle and then shoot up. Maybe the technical experts can comment better on this.

Amazing how coordinated the fear mongers are right? They come in all at the same time, disappear at the same time, reappear again at the same time. I believe they are hoping to top up at close to 6.70

Added Supermax 7.02, 6.98. Final day sale.

Don't think will drop below 7. Support at 6.70. Hopefully forming the base of the cup today.

money888 @fightingdragons, what is cup and handle? can u please share?
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Just google cup and handle chart

Wait for cup and handle...

Sharks still controlling play today. UOB's overall gloves report is just a teaser. Have to wait for Supermax specific analyst reports to come out.

I think sometimes their strategy (aka secretinvestor) is to flood the forum with rubbish so that the good comments that goes against their agenda gets pushed up the page unless people really rajin to click "Show More Comments" and read everything. That's also why suddenly you may also get funny people talk nonsense about other people's mother etc. There's a method in the madness.

DJoker89 millionology people collecting https://moneynology.blogspot.com/2020/06/17-june-202-update-on-superma...

Is true, both TG and supermx spike in vol at 4.50pm

SPX: 227.5k
TG: 645.4k
17/06/2020 9:25 PM

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More likely shark wants to bring up the price so tomorrow run it up to 7.4/7.5 like today and sell. Then bring it down again to collect...

vanness_lyh head and shoulders

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Hope not as this means downtrend!

Most likely flat for next two days for the bottom, then next week starts to move up to finish the cup. The following week down a bit to complete the handle before analyst reports come out in early July...

Will we see another cup and handle formation like in March before it shot up like a rocket?

Oh kimgold is back. Means sold at 7.4X that's why so quiet yesterday and now trying to push below 7 to do another round. This week sideways movement good for traders. For mid-long term holders, just do something else this week la

Overall market won't affect gloves much unless big crash. For glove counters, sharks/IB are the ones that decide when to move up/down. This week is sideways, consolidation, collecting.

Bullish harami?

Fishningen Why suddenly this page not so active like yesterday ahh

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'Representatives' of the sharks have completed their job fear mongering causing panic sell on Monday. Mission accomplished so now they have left Supermax forum. Some are still in Top Glove forum cos sharks haven't finish collecting Top Glove yet.

U guys never read analyst reports? CGSCIMB already estimate RM3.7 BILLION net profit FY21.

Block at 16 means sharks are collecting low now, to prevent the price from shooting up. That's why this Top Glove forum still got many fear mongers. Supermax, dropped enough already, yesterday no more fear mongers suddenly must have finished collecting. Top Glove sharks haven't finish collecting... Next wave can only start after they finish collecting - end June, early July.

All the chartist forecasting a head and shoulders formation?

Told u guys this week will be slow due to call warrant expiry + consolidation. Wait for analyst reports to come out end June/early July. Just hold lah, August QR pasti bagus. Can't expect it to go up 8% everyday. If you do, the sharks want to get rid of you.

Sideways this week. Wont go up much. Macquarie warrant this Friday.

Anyone know when IDSS suspension will be reviewed and whether the suspension will be extended?

chief999 judging by superman previous June, July, August, here's what I think:-
1) June - usually a significant purchase - whether a company acquisition or land purchase, so it can be registered into FY21 account book by July
2) July - SBB usually in the 10th of July, if this year no SBB in July, likely QR to report in July... happened before during H1N1
3) Aug - many corporate exercise - final dividend, bonus, august report etc... plus company statement, briefing etc....

Only thing is June - will this year be any different... ? As we can see June now is very volatile, looking at the DOW... it's doing a 2% daily volatility now.

>> now c how Thai wanna play during this few weeks only...ytd's low of 6.70+ also caught me by surprise...a bit lah

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So for June, if got significant purchase, how will that affect the share price?

Yup, those who sold can now buy higher. Bankers swap place with you.

Time for freetospeak to start his blog liao

See last few paragraphs. After collecting, bankers say buy.

But Supermax may still have a bit more downside to go before bouncing up until 6.70. Bear in mind call warrant still expiring this Friday.

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KUALA LUMPUR (June 15): Glove stocks were the selling targets on Bursa Malaysia today with many of them plummeting more than 10%, although the rising risk of a second wave of infections in China could mean another boost to rubber glove demand.

Those still bullish took the sell-off as glove stocks entering a "consolidation phase", saying it was a healthy pullback after the strong march to record highs.

Leading the decline was Supermax Corp Bhd, which slid 13.15% or RM1.04 to RM6.87, followed by Careplus Group Bhd, shedding 13% or 19 sen to RM1.27, while Rubberex Corp (M) Bhd was down 12.42% or 39 sen at RM2.75.

Comfort Gloves Bhd dived 12.3% or 36 sen to RM2.57 and Top Glove Corp Bhd dropped 10.06% or RM1.70 to RM15.20.

The other glove counters fell by less than 10%, with Hartalega Holdings Bhd down 6.71% or 84 sen at RM11.68 and Kossan Rubber Industries Bhd was down 8.8% or 79 sen at RM8.19.

A quick glimpse of the glove stocks' performances shows that the biggest falls were recorded by the counters that had gone up the most on a year-to-date basis.


Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said, "Today's price performances for glove stocks are considered very normal."

"It is in fact healthy in nature, as most investors involved in glove counters would have made handsome gains throughout the rally," he told theedgemarkets.com.

Given the strong outlook issued by most glove companies during the latest quarterly disclosures, Wong said, "Today's decline could present an entry opportunity for those who missed the boat previously."

Rakuten Trade Sdn Bhd research vice president Vincent Lau concurred that without a functional vaccine in sight yet in the fight against Covid-19, glove stocks would continue to attract interest as the strong demand for gloves would sustain for a prolonged period of time.

"The market has been on a hyperbolic uptrend in the last few weeks, which is a sign of overheating, and one could expect the market to be poised for a healthy pullback," Lau said.

Nevertheless, Areca's Wong expects market volatility to increase in the near term. He advised investors to consider diversifying their stock holdings across a few sectors, and avoid overexposure to a single sector.

KUALA LUMPUR (June 15): Glove stocks were the selling targets on Bursa Malaysia today with many of them plummeting more than 10%, although the rising risk of a second wave of infections in China could mean another boost to rubber glove demand.

Those still bullish took the sell-off as glove stocks entering a "consolidation phase", saying it was a healthy pullback after the strong march to record highs.

Leading the decline was Supermax Corp Bhd, which slid 13.15% or RM1.04 to RM6.87, followed by Careplus Group Bhd, shedding 13% or 19 sen to RM1.27, while Rubberex Corp (M) Bhd was down 12.42% or 39 sen at RM2.75.

Comfort Gloves Bhd dived 12.3% or 36 sen to RM2.57 and Top Glove Corp Bhd dropped 10.06% or RM1.70 to RM15.20.

The other glove counters fell by less than 10%, with Hartalega Holdings Bhd down 6.71% or 84 sen at RM11.68 and Kossan Rubber Industries Bhd was down 8.8% or 79 sen at RM8.19.

A quick glimpse of the glove stocks' performances shows that the biggest falls were recorded by the counters that had gone up the most on a year-to-date basis.

Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said, "Today's price performances for glove stocks are considered very normal."

"It is in fact healthy in nature, as most investors involved in glove counters would have made handsome gains throughout the rally," he told theedgemarkets.com.

Given the strong outlook issued by most glove companies during the latest quarterly disclosures, Wong said, "Today's decline could present an entry opportunity for those who missed the boat previously."

Rakuten Trade Sdn Bhd research vice president Vincent Lau concurred that without a functional vaccine in sight yet in the fight against Covid-19, glove stocks would continue to attract interest as the strong demand for gloves would sustain for a prolonged period of time.

"The market has been on a hyperbolic uptrend in the last few weeks, which is a sign of overheating, and one could expect the market to be poised for a healthy pullback," Lau said.

Nevertheless, Areca's Wong expects market volatility to increase in the near term. He advised investors to consider diversifying their stock holdings across a few sectors, and avoid overexposure to a single sector.

https://www.theedgemarkets.com/article/glove-stocks-turn-lower-investors-adopt-riskoff-approach-after-fresh-covid19-infections

tiger69 too big a correction is not healthy I am afraid ...this is really hurting a lot of people

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How is this too big? It went into overbought territory since April, I don't think many stocks can do that without periodic corrections. So this is many weeks' correction packed into one. Even the margin finance issue didn't manage to reign in Supermax.

Glove counters have been hovering above overbought territory for weeks. This is a healthy correction although may have 1-2 more days of selling pressure before Supermax dips into oversold territory.

Winalot444 fightingdragons, dont come here for comments and advise if you want to earn in MALAYSIA STOCK MARKET . Everyone here is selfish , who want to share profit with strangers and unknow ? Dont be fool

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No worries, that one i know. Just pulling YTH leg. I have seen a lot of chameleons but this one changes really fast.

YTH very erratic. Maybe I don't login often enough. But I keep seeing a different animal every time I login.

They didn't dump all their shares - you guys did. Remember, for all the panic sellers selling, someone else is buying. Needs to go down before it can go up another $6.

KUALA LUMPUR (June 11): AllianceDBS Research said Supermax Corp Bhd (Supermx) had on June 10 traded lower to RM8.33 before closing at RM8.55 (down 10 sen or 1.15%).

In its evening edition June 10, the research house said Supermx continued to trade above 20-day (blue) and 50-day (red) moving average lines.

It said following the down close on June 10, the stock is likely to move lower with immediate support at RM8.20.

“A fall below RM8.20 would put pressure on the stock down to the subsequent support at RM6.70.

“The hurdle is pegged at RM8.90. A crossover of RM8.90 should see further price rise to the next overhead resistance at RM9.30, it said.

AllianceDBS Research said stock volume traded on June 10 was 15.4 million shares compared to the 3-month average volume of 25.5 million shares.

Support is at 6.70

troy88 What I don't understand is why Supermax seems to be the one affected the most. Other glove stocks not too badly hit, some even green.

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Cos Supermax a lot of retail investors. Top Glove/Harta lots of big funds buying so don't have panic sellers who get influenced by opportunistic day trader forumers. Hence Supermax moves in wider bands

Supermax 5 days sale. Buy within the next 4-5 days. After 19 Jun, it will start moving up.

Any news whether suspension of IDSS will be extended?

Croxxx @fightingdragons

Macquarie got so many shares to sell down to depress the price just to save their CW?
14/06/2020 12:50 PM

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All this got 1 year to plan ahead one mah. Anyway, they just need to send a few Kimgolds to forums to spread fear, and then next week sell low a bit to get the ball rolling and all the panic sellers will start to freak out and sell cheap. Then the bank will just buy cheap and get ready for the next uptrend. IB make money from volatility, if they can create and time that volatility then they make even more.