pzul: So far, your observation is very good. No need to be humble - we all need some good advice.

4u2c: Below 50dma is not good. Let pzul make the buy call. bullbear777 is also a good trader.

Bro newman: Thks for the advice. Was looking at the support levels and the fibonacci retracement levels and agree with you that it still don't look good. But could be good for rebound trading.

Bro newman: Now only we know why you are in Malacca. They already excavated the doorway entrance to the Malacca Sultanate treasure trove, so you are just waiting to scoop it all up!

kuya hawk: No trading this few days (follow bro newman's advice). Cleared all my Mpay on Thurs to buyback later as candlesticks dun look good. Could not access the CIMB plastform this morning, so missed the chance to buyback. But current price still below my selling price, so let's see.

pzul: Need to tread with caution (I am just an average trader). Price now is below 50dma (28.5) and selling is due from the players who bot at the high on 25 &28 April.

wee888: Welcome back. I tot u were still celebrating Xmas.

Well, if prices flatten at around 27sen , then you will be correct. Looks like this is now a competition among bullbear777, madiba and wee888

pzul: Everyone is watching support at 27sen. Price seems to be holding at 27.5/28.0. Now, have to see what the afternoon market says - Tripaka feels it will be down again in line with market sentiment.

pzul: Agree one should buy when it renews uptrend - too much uncertainty in the ACE market now. Unless you are a good trader like bullbear777.

leslieroycarter: The candlesticks look more like 3 crows. Some uptrending is expected now but downtrend should continue until it hits really strong support.

Who knows, optimus could possibly be rite also when he stated that there could be a double bottom at 19sen!!!

bullbear777: Good play there! Quite sure u r out again at 28sen - congrats.

Madiba seems to be going long, so she's obviously not trading. Noted that she wants to collect in the range 23 to 28sen the shares she sold earlier. And it appears that her strategy looks ok.

So, bullbear777, u traded this morning n u r ahead. Lets see if madiba makes money in the long run

Last few days candlesticks not good. Put your prejudices aside - bullbear@jenny wong@ optimus etc does have a point.

It tested support at 27sen this morning and will test it again. Don't expect a v-shaped recovery.

pzul: On the other hand, these are also the levels from which the stock could rebound and continue its rally.

pzul: Assuming that the rally started from 13sen all the way to 37.5sen.

Yesterday's drop to 19sen is -75.5% of the rally (close to 76.4 fibonacci). At closing, retracement was from 19 to 30.5sen or 46.9% (close to 50.0 fibonacci).

The drop yesterday to 19sen reflected the maximum drop under the fibonacci retracement ratios. So, it is unlikely that it will fall below 19sen.

Using fibonacci ratios, since the downtrend is continuing, supports to watch are 27.5sen (23.6%), 26.0sen (38.1%), 25.0sen (50.0%) and 23.0 (61.8%).

Normally, the important levels will be 27.5sen, 25sen and finally 23sen. This also tallies with the TA supports mentioned earlier.

At present, watch 27sen closely.

pzul: sorry I had to remove some incorrect postings - was not looking at the charts.

tsk123: You are considered to be one of the stale bulls.

Note that previously, support was at 36/33/30/27 for the mother share. All supports have been broken and now we could be looking at 27sen to be breached the next two days. Below that, support is at 23/20sen.

The mother is already 28sen compared with your WA purchase price of 26.5sen. The trigger for the next rally has to be real news on the GST award but that could be anywhere from mid May to July.

So, I feel the counter will continue to drift.

Looking at the tone, Friday and coming Monday will also be down days for this counter. Unlikely that there will be any play as then everybody gets to unload.

frog may not be diplomatic but his observation that the counter will drift lower is correct.

The sentiment for this counter will follow the ACE market counters ie it will take another 2 to 3 weeks before any sentiment returns.

Unless there is news from madiba on positive developments.

Better not follow so closely. I may also make wrong decisions - playing with jerung, eh! Only DreamM powerful enuf to do so.

Don't forget I bot back at 22.5sen, so I have safety margin. Frankly, if selling continues like this (slow death), I may also unload and wait for 23sen.

pzul: u r one of the most observant players! best to wait - should not think that sharks will play as then everybody unloads (especially after a heart stopping 50% drop yesterday morning).

I think got bargain hunter at 28sen now but someone slowly selling also at that price. Like that could be slow death!!

DreamM: Good strategy. Anyway, sentiment very weak for this counter - 50% down yesterday in the morning and recovered only half of the drop in the afternoon. If sharks push, everybody will just unload.

Both madiba and optimus/frog are correct - better to wait for it to drop to 23 - 25sen.

connie: better to be conman or conwoman rather than getting conned by the sharks!

Good morning chrissyconners.

connie: U seem to b in high "spirits" 2day!

Thanks, kuya hawk. Just about to log off after looking at the US news. Good nite, bro.

kuya hawk: MPay huge black hammer, short sw4? Do u think it will rebound strongly 2moro?

kuya hawk: Dun forget to give the rest of us the timely tips, ok!! Bro newman probably wants to take a rest this month in Brazil.

Bro newman - Always so humble. For me, on hindsight, you are more than correct. Lucky I didn't freeze today during the waterfall selling.

Ya, US analysts say it is true for their markets. Over here, OTB said he checked all data and confirmed that it doesn't apply to Malaysian market.

chrissy: Market too volatile, and I'm not good at reading short term market trend, so did not sapu today. Did not play yesterday also as it didn't feel right.

Now waiting for bro newman to advise trend. Unless he already on the way to Brazil.

kuya hawk: Should have taken bro newman's advice yesterday to sell. Then today could have happily bought back all and more from 20 - 25sen.

connie: So far, kuya hawk's reading is reliable. Better to follow the trend. If sharks selling, also must follow the very short term trend but have to remember to buy back. MPay actually has potential - otherwise it would have remained limit-down at closing (it was down 50% in the morning from the opening price).

Note that kuya hawk issued buy call also this morning when the stock had retraced.

kuya hawk: Sold a lot at 34sen and bot back at 22.5sen. Extra bot at 27/29sen, already sold at closing. Don't worry, I trust your reading!!

If 38sen, then become long term investor. Will take time to break 33sen again

optimus0:If can get iris at 38sen, why not!! But I don't think you bought MPay at 38sen - you are too smart for that.

I tot she is in London. Probably in Oxford Street now busy shopping

DreamM: In that case, let us know also. Please post here, thanks!!

DreamM: Iris now retracing after completing wave 5. TP around 39sen before the next wave starts.

connie: see, now everybody knows, sephi advertising

connie: six-pack ask sephi, mine spare tyre

connie: Take a six-pack and just pour it down. Like my contractor friend - he always drink a half bottle brandy before finalising his construction tenders so that he sure win!!

DreamM: Did any of your gang sell and buyback today?

I don't think 2moro got cheap sales. Buyback from 20sen to 30sen was very strong. Now, consolidating at 30 to 32sen to allow those who still want to sell to liquidate.

If sharks sold too much and could not collect all back, then the counter should move 2moro afternoon. Let's see.

connie: no need to be sad. like kuya hawk said, it is also buying opportunity. maybe follow him and buy those which were trending up on w3

rex23: With him parked at 28.5 to 30sen, sharks don't want to throw already!

Anyway, let's see today's closing and tomorrow morning's trades as these will be the times for any more liquidation by any players who still want to sell. If play is still on, the price will stabilise and move up tomorrow.

Don't forget madiba's analysis remains the same.

But if just pure goreng, like stone (57sen<<<<<<35sen), then the counter would still be limit down.

rex23: That's what it looks like. If u panic sell and didn't buy back, then kena played!

kuya hawk: MPay market float not that big. Some big players in the MPay thread have 1 to 2 million shares each. Also, the real selldown from 33 to 19sen selldown was in low volume (very low buy and sell bids) but the buyback from 20 to 30sen was very strong.

This kind of playing must borrow bro newman mind and hands.

DreamM: U seem to have bottomless pockets. Anyway, if sharks repeat their trick 2moro, I think the forumners here will buy 1 million each between 20 - 26sen.

rex23: Volume also contributed by us here. We also sold and bot back

Pantun is the responsibility of wee888. I think he's still celebrating Xmas