Very hopeful that the brokers will upgrade the earnings and the stock on a more aggressive basis

This is one amazing turnaround play. 2QFY23 core EPS (adjusted for impairment) came in at 2.8 sen. Barring any unforeseen circumstances, stock could come in 12M EPS of at least 8 - 10 sen. Ascribing a 7 - 8x PER to Parkson, this stock should be traded at least RM0.56 - RM0.80. AEON is traded at 15x and therefore ascribing a multiple of 7 - 8x is fairly justified IMHO.

Grab them while you can as it is penny stock category at current price levels!

:)

Amazing.

thanks, 94323... either way don't look promising for the USD currency vis-a-vis MYR

Imagine what would have it been like if all the resources channeled into Proton was utilised to make malaysia the No#1 automotive assembling hub in ASEAN. Increasing jobs, cheaper cars, robust economy, higher FDI, etc

Guess, it has never meant to happen

http://www.xe.com/currencycharts/?from=USD&to=MYR

MYR up! Could open higher at trading later..

I will only look at it < RM1.00; the biggest mistake is to try to annualise construction profits. Instead, investors should focus on order book execution instead. Fundamentally its still a good stock but the large caps are getting cheap and focus from the institutions may change.

Sentiment not good lo... Export counters all affected. What goes up must come down and vise versa. Buy on further weakness, i will.

In such a market and volatile USD, I think investors could shun export related counters. Nevertheless, TG could be a good bet, subject to valuations. Alot of the large cap stocks are turning cheap with the recent decline of the market

Note to no-specific parties:-

After noting all of these uncivilized postings and negative interactions by various users here, I have decided not to participate in this forum any longer. Given the negative developments here, I am sure many other observers will eventually shy away which will defeat the whole purpose and intent of such public forum.

To all parties here, I hope you will eventually come to peace with your own selves and lets inculcate positive interaction which I believe you more than have it in you. Actions such as the various name callings, accusations, sexual assaults, and heckling shouldn't be welcomed.

Nevertheless, it has been an amusing time for me here and it was meeting all of you here. All the best in your future endeavors on Vivocom (to both believers and non-believers). Till we meet again; the next time in a different forum.

Have a good weekend and comment responsibly ;)

Enough la. Please behave like adults. Just as I thought I could enjoy the peace and read regular and non insinuating comments.

If you all want to argue or insult, go to the open field and fight it. Knock each other out and be satisfied with it. Leave the rest of us here to have our regular and specific discussion.

p/s: Suppose things could have been different here if the stock price has trended upwards. Guess, we just have to live with our decision :/

Dividenenshark, it's really normal foe banks to impose such restriction as it could be due to several factors such as existing high financing of such stock, decline in risk, etc. If the bank takes a bearish view, it shouldn't even allow u to trade with margin similar to the incident with IFCA. My broker allow me to trade vide T + 4, so don't think there are much concerns by the Banks in general. Good Luck

dividendenshark, Vivocom is an ACE Market counter and price has gone up 3x from the low of 0.08. Given that margin accounts are involved, it is no surprise that the brokerage firm has decided to cap the value of the stock to such a low level.

It seems that the person that some of you here call as "SKUNK" could be right after all, well at least in the interim ;) Hehe

Anyway, here is the latest I have heard from the corners of the market:-

1) Audited FY15 is expected to be a decent turnaround. Bringing full year profit approx. RM8.5 million
2) Q1FY16 is expected to be very strong with profit > RM13 million alone due to existing contracts in hand.
3) Major contract announcements expected in April/ May. Potential acquisition of WY Consulting to reinforce the "Chinese Connection" story which is lacking in substance presently
4) Potential private placement again this year by 1H vide shareholders approval (as recently suggested in the article on Focus Malaysia). In the article, Management has not keep this as a secret. Note that there is a balance ~ 50% from the previous placement which was not completed yet. This portion of the placement should be completed by March.
5) Assuming a 10% equity dilution from the new placement shares, the TP by CIMB and MIDF will be revised to RM0.62 and RM0.55. The equity fund raising is required as management needs equity and bank financing to fund at least 10% of its contract value.


Comments:-
Whilst 1) 2) and 3) above will be seen as beneficial, i think the events of 4) and 5) alone will put further downward pressure on the share price. If the share price decline to 0.250 by event 1), i doubt one will expect the share price to rebound strongly. This stock will prove to be a long wait (i.e. > 6 months) and provided that the market conditions do not get any worse. Moreover, it appears that the investing public doesn't appear to react positively to the recent positive news flow or articles on the company. If I am the operator, I will definitely get burnt in such a scenario as the selling pressure is just too high. Guess this is expected when the 52 week low of the stock is at low price of 0.08.

To conclude, othing seems to be able to withstand the global equity market sell down. I have reduced my equity holdings to 50% in cash value. On hindsight, should have realized higher cash position. For those who intend to trade, you will need all the luck in such a market

Myview, do you have the report on Maybank valuing Vivo at 15?

I suppose all parties have made their opinion clear. Let us all bury the hatchet and look forward to improving interactions and exchange of ideas. Hopeful that the forum remains lively and we can move on with mutual respect to all parties. Name calling can be amusing but lets leave members of the family out of any engagements here. Honestly, none of us here wants to see people around us get hurt as they don't deserve all of these.

Wishing all of you a prosperous and happy new year =) Safe journey to those who are traveling.

Glad to hear about this. Happy New Year and keep up with the good work in looking up ideas for the rest of us here. May all of us proper well in today's uncertain market =)

Let's work towards making this forum great again but in the meantime, take a break la. CNY is around the corner and regional markets are behaving like an A$, we all deserve some break la.. anyway, you guys amaze me for being so persistent in your respective cause and making this forum so lively. Take a breather and don't get burnt out taking jabs on one another. Cheers :)

Guys, this is really irritating. Please stop this. Can we establish a rule to avoid all profanities and please leave members of the family out. They don't deserve it and trust we are all mature enough to make our judgement when comes to our investment choices

Foreign worker levy is on an annual basis. Govt announce that there is an additional RM2.5 billion and at the increments of RM1,250 p.a., that will work out to be 2 million foreigners. It cannot be on a per month basis as it doesn't make much sense from govt to do this because it will kill everyone

Well, i agree that the foreign workers levy will be an issue but material cost has actually came down. Selling prices of properties haven't really come down strongly.

For a construction firm with over 2000+ workers, the additional increase of RM1,250/ worker is only a difference of RM2 million in PAT (not taking into consideration of potential savings from other material cost). Certain houses has been bullish in forecasting Vivocom's FY2016 to be RM80+ million. A 5% difference is not going to do that much of a harm if they can really show numbers close to the projection.

Updates which I have heard

1) Share price is unlikely to drop below 0.27 as the company has intention to complete the remaining balance (~ 48%) from the earlier private placement exercise at an issue price which is above the earlier 0.250. Even if they decide to fix the 2nd tranche at 0.27, the share price should not trade beyond 0.30 in the intermediate. If this is true, the promoters will likely try to influence the price but don't expect it to do well either as the potential investors may not like it if they have to get these shares at a much higher price than the earlier investors. The trading volume has declined considerably and this could make it a lot easier for them to influence. It was also mentioned on Pg 3 of the MIDF report that a certain Chinese party which is keen to participate in the equity interest of Vivocom.

Comments:
However, if the above is not true I suspect that there will be selling pressure ahead until the share price stabilize towards the release of the last financial quarter by February. Owing to such negative global market conditions, any release of good news buy the company and even positive developments such as release of multiple contracts and new research report will only give good excuse to short term players to exit. This is why we have not seen those so-called "insiders news" in the form of messages providing hints of company developments off-late. Even the promoters have given up hopes on us to lift up the counter. LoL

2) A close source to the owners told me that it is only from April onward, where the stock is expected to re-rate as the 1QFY16 is going to be very strong and the more meaningful contracts will be released to the market. Whilst its true that they have the contracts, performance risk will be there to stay.

Comments:
In the meantime, you may not be awarded for trading the share. Wait til the 4QFY15 results are out before deciding the next course of action. The run in export counters were only imminent after positive events and improvements of their successive financial results which later attracted interest of the institutions and investment bloggers or gurus. A classic example for construction related counters were the likes of Mitrajaya and Gadang. Based on existing orderbook, Vivocom's projects triumph the likes of Mitrajaya and Gadang. Vivo's margins are also higher given that they are mainly private projects but there is greater focus on infra-play albeit the lower margins due to greater visibility

EPF is likely selling in view of the following reasons:-

1) Holding way too many shares in RHB - the fund has to sell down because it is no means healthy for a pension fund to hold such substantial position in the business. Its interest has also further increase because the other Arab shareholder has renounce its entitlement for the rights issue exercise. Moreover, consolidation amongst the top banks are very unlikely to happen during this uncertain time because of valuation mismatches. Therefore, EPF is unlikely to hold on that many shares to be seen in the driving seat in any potential bank merger.

2) Maybank vs RHB - Maybank is seen as a more defensive stock and will represent a stronger proxy on the index. The country administration is under so much pressure and it will do what it takes to defend the index.

3) Maybank has more superior dividend yields comparatively despite RHB being in more compelling in terms of share valuation (i.e. trading below book value), The distribution by RHB should improve vide eliminating tax inefficiencies upon completion of the group reorganization exercise which could therefore serve as a re-rating catalyst

4) Failed merger talks of MBSB and Bank Muamalat - This could pave way of EPF to consolidate both RHB and MBSB as a single entity to consolidate its holdings of financial institutions in Malaysia. The completion of the recent employee retrenchment exercise in RHB could lead to further speculation.

With the present state of the global economy, it will take a while before the interest in the company is renewed. I will likely take profit today and seek to trade if there is weakness in the counter.

Sell on news...

Chill..

Avoid contra play for this counter as there are just too many shares and its not a small counter by any means. Wait till the 4Q results are out to decide. Some sources told me that they will hit approx. RM10 million for FY15 which will start getting institutions keen again on the stock. Barring any unforeseen circumstances, 1HFY16 should be stronger but there will be greater performance risk as the company take on more contracts in future.

RHB is merely the adviser for the transaction i.e. advising on the rights issue and procuring the necessary approvals from authorities. It doesn't seem that the Bank is financing the promoters on the rights issue nor it is acting as the underwriter on the rights issue to the company.

Let just hope that there is genuine need for the company to raise the cash for its "perceived" expansion. I hear that the Banks in China is tightening on credit to smaller companies which could drive such companies to raise equity to fund expansion. Anyway, seems odd that there is such a need for company to expand capex aggressively given that their sales (in RM) is fast declining albeit the appreciation of the RM.

There is really no point to hurl insults on one's family to merely make a personal statement. As I have said in my earlier postings, if you are proven right that Vivo is a crap story - we will remember you for your warnings and grow to like you better but even if it proves otherwise with the counter delivering its "promises", it doesn't matter as well.

Seriously, let us just move on. I am also a little tired of all this bickering but sometimes I have to admit that it can be amusing watching some of you get on one another ;p

Happy Wilayah Day!

Wow...!! Better run on Tuesday before the stock catches fire :p

Icon8888, your thoughts on stock like Vivocom, if you follow? Any insights to share

Hmm.. share px will likely fall as issue px is set at 0.63 whilst current mkt px is 1.45. If the reverse, then only sh px will be up

Err... Only the project owners will issue bonds. If there is any role for Vivo, it will be merely a sub-contractor role. Under a PFI model, the main contractor will incur the capex and opex upfront until completion (normally through bank financing, if required). Payment will then be paid progressively by the train operator or govt who is likely to raise a bond where cashflow could be financed vide collection of train fares. Even my granny can tell that Vivo is definitely not in the position to issue bonds la...

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In Bursa's definition today, 1 lot = 100 shares, 100 lots = 10,000 shares. You need a much larger amount to create an impact. I alone got few million shares, warrants, etc. Some of my friends got more. If that is the case, all of you better run when we throw. Hehe. Don't worry - Bottom line is just be true to your objectives, you will be fine. Each investors have different objectives in our risk and return measure. I may be happy with 2 - 3 sen gain but some of you want more. Is that wrong? Nope as that its actually perfectly fine as we don't know how the stock will look like come closer to the finishing line. The stock has gone up from RM0.075 till present levels where most people who were in early will look to cash out anytime especially in such uncertain markets

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Don't put all your fish in 1 basket. There are other opportunities around, I am praying for TopGlove or Jaks to drop to sub RM4+ and < RM0.90, respectively as that will represent very good buying opportunity. It's unfortunate that our market is close on Monday as we are likely to see USD and Yen depreciate further following the strong rise of oil prices on Friday. DJIA was up 2+ %

Myview, I can't take any sides now because there is no certainty with Vivo but it's just that I am willing to fancy this chance. I will share regardless if it is good or bad developments regarding this stock. I have invested in the markets for more than 10 yrs and surprises can be forthcoming or extremely unforgiving.

If there are opportunities to exit even with small gains, I will do it

I really hope that all parties here who either oppose or support the stock to do more thorough analysis before commenting. We should encourage healthy exchange of ideas with basis and not simply irresponsible reporting. Regardless of the outcome, I wish all of you great success in your stock selection in time for CNY. Things are really getting expensive... gains from the market is now a necessity

Err... the double rail, gemas track and Penang undersea tunnel will be funded based on PFI (private funding initiative) vide the Chinese Contractors and any other local consortium it partners with. In return, the Govt may award these parties rights to fare collection or to pay for the cost vide establishment of a SPV to issue bonds which will be financed by fare collection. Such model is very common in Malaysia to minimise performance risk and having the need for the Govt to incur substantial cost upfront.

Personally, I am more concern with the implementation of the Pan Borneo Highway as there is no toll collection involved. Therefore the questions will remain as to how you will fund this mammoth capex and opex. No wonder there has been delays as most ppl expecting that these contracts will be handed upfront before CNY.

Why do you all think that there is an operator for this stock? I honestly do not think that there is an operator at this juncture. If there is one, there should already be a run-up in prices or steady flow of trading volume with the recent news which should be seen as positive. It is just that the market lack interest in following the stock. Even some of these gurus that you follow i.e. OTB and Koon Yew Yin have yet to promote this stock

Let us stop speculating and wait for the following immediate catalyst:-
1) 4QFY15 results
2) Award of infra contracts from CRCC or any other major parties
3) Improving retail and infrastructure following
4) Completion of the remaining 45% - 48% of private placement (MIDF highlighted that the company could be in the position to place some shares to Beijing Construction International Group which could serve as a major event

(https://en.wikipedia.org/wiki/Beijing_Construction_Engineering_Group)


At present, it will cost syndicates lots of money and opportunity cost trading today as the stock doesn't seem to be in favor anymore. My advise is not to look at the share price everyday and just wait. If it comes, it will come in a fashionable way as it is perceived to be a "penny" stock based on its existing share price.

Oil was up again - may lead to another wave of selling pressure today. May trade this stock if there is further downside of 5%

weewee22 It appears that there is some correlation between the performance of the Chinese Stock Index Vis-a-vis the share price of Vivocom. This shouldn't be the case as large Chinese corporations have been encouraged to go abroad to look at enhancing returns than focusing on the slowing domestic growth. Despite the latest Non-rated report issued by MIDF, the share price has not really reacted positively. It seems that there is a lot more convincing by management as well as change in investors perception desired.

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Dividenshark,

The present value of its construction business is derived to illustrate the value expected from its existing contracts received (without taking into future consideration of new order replenishment). Hence this is a value of this business in an event there is no more contracts which is unlikely for a contractor of this size and its perceived reputation. Construction companies are normally valued using PE Multiple taking into consideration its future earnings (FY2017). Since we are early part in FY16, the focus should be an average of FY16 and 17 to give a closer reflection of the business in current state. Therefore, TP of 0.59 by MIDF can be seen as a tad optimistic. Either way, the intrinsic value > RM0.50; implying a 40% discount as a pessimistic measure, the stock > RM0.30 in an IDEAL environment.

Dividendenshark, companies normally raised new funds by way of a PP or a rights issue exercise, depending on the amount of funds to be raised. Company can only sell shares in the open market if it has treasury shares. Any sale of shares must not be lower than the price it bought as all this are in the listing requirements, if I can still recall early. Furthermore, an announcement will also need to be made on the shares sold or acquired. If I am the PP investors, definitely I will look to sell as I have only gotten the shares at 0.25. 10% - 20% gains at times like this is great news.

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I expected share price to performed ok today but guess it was short lived. I guess the only bullets Vivocom has is to release more positive news, when available until it reaches an inflection point where the stock is seen to be in favor of institutions. In the meantime, expect trades to be sideways as retailers take profit at the sight of news and buy at low price. Guess a pre and post CNY rally of the counter is not expected to come.

I can't think of any other research house who will be brave enough to cover this stock as it will be a hard sell to institutions and retailers. Perhaps, things will only as the results are in. Meantime, we are here to simply take on this gamble or trade on the volatility of the stock.

In the short to intermediate term, there is no rights issue as the said exercise was completed not too long ago. Likelihood is that the company implementing a 2nd tranche of the placement shares (approx. remaining ~ 45%). If management wanted to implement a rights issue, they would have already done so instead of doing the placement. Why place the shares out at RM0.25 and benefit other investors when you can implement a rights issue exercise for existing shareholders. Moreover, Bursa is not favourable for such exercise to be undertaken too close to one another. Preferably, there should at least be 2 years gap.

Selling pressure could continue to persist that the earlier PP takers could be selling out as these are mainly high net worth retailers with no interest in long term holding of the shares. Selling out at current prices of 0.28 will give them a gain of 10% which is commendable in today's market. As I have said earlier, Institutions do not have much regards of the counter at this juncture and that the selling pressure will not be so easily being absorbed. Moreover, those who have hang on to this share in the previous rights issue exercise at RM0.10 could also look at cashing out the handsome profit (including the free warrants)

I don't see the share price heading north so quickly until the numbers speak for itself. Meantime, expect bumpy trading volatility for this counter. Until I see the numbers and await substantial developments, I will continue to bottom fish WB and WC at 0.115 and 0.180 and maybe look to take profit at 0.125 - 0.130 and 0.190 - 0.200

If all these unnecessary bickering continue to happy, other people will stop visiting the forum. Therefore, how is myview going to continue to promote this stock whilst people like moneymoneyhoney will not be able to take advantage on the position. Think about it, moneymoneyhoney - don't give away your advantage. Glad that you made money trading this stock but let us not bring family members into this because it is sick.

Also, what makes you think that our wives/ girlfriends are not shagging other men. They could already be sleeping with myview as he clearly has the money to support the stock. Haha. Only rich man can support the stock as he clearly not interested with movements of 1 - 1.5 sen.

Make Love and Money but not War =)

Haha... Chill! Lets don't get too personal which will effect your mood.

Its unfortunate that "big crocs" have been intimidated earlier and might not come in so quickly. The share cap of the company is just too big for people to manipulate at this juncture. Lets just be patient and see if the prophecy is a correct one. The reporting season is just weeks away and could serve as a major catalyst as institutions would want to use it to assess the margins of Vivocom. Some of you here have waited for a long time so continue to be patient lo..

If the results are good and should market volatility reduces, the big whales (i.e. institutions) will come in to mop up the shares. For it to rise from 0.285/90 to 0.33/34 is really not that tough for stocks like this and at the so-called "promises" that the stock may deliver

I am bottom fishing WB at 0.115 but with the performance of DJIA and further reassurance by China Authorities, I think markets will be positive tmw. Watch out for the VIX Index as a lower volatility reading over the short - medium will slowly point that markets are beginning to bottom out. That is the time you pour money back to battered markets globally

Aiyo, some of you guys don't really understand contract financing. Where got ppl take out 70% in equity to fund contracts.. This is not equipment or capex financing.

The amount is a lot less la.. Even vide bank financing, most contractors will only require 10% of the total contract sum in the form of RC/ BG/ ODs as you will rely on some mobilization funds to be awarded by the project owners. Furthermore, you don't run all your contracts now la as cost will be incurred throughout the tenure. Assuming, you can consistently deliver 8% net margins (after financing), a RM1 billion contract over 3 years will net you RM25 mil p.a. / if RM2 billion will be RM50 mil p.a.

But, don't ask me if Vivocom can hit these numbers as I am dying to find out. If it does proves itself, to the person who hates Myview so much; better sell your wife, mother and children to buy this stock as it will fly for sure based on current valuations. In the meantime, i wouldn't want to fault you until the results are proven as we are all taking this chance with this counter with such little understanding of its track record.

Personally, I am not too bothered with the 1 - 2 sens fluctuations as it takes too much of my effort to consistently monitor. But for those who have the world of time to do it, no lost la.

Good luck.

Having said that, critics will still be skeptical with its prospects but it does appear that the company is trying to encourage investors to be more proactive in trading the counter just in time for potentially some pre and post CNY play. Further, HOA do not necessary translate to executed agreements but it seem that Insta is doing direct negotiations rather than participating in actual project tenders..

This is a new contract resulting to two (2) new contracts secured within a space of 2 weeks..

"In a statement, Vivocom said the HoA was in addition to a RM240 million contract from Coneff Corp announced last week, bringing its total projects from Coneff at Desa Tasik to potentially RM470 million, subject to final negotiations of the HoAs"

Likely to see some action tomorrow or the coming days...

If RHB drop to RM4, the rest of the index stocks will also be very cheap (prop at 1400 pts). You may even get Maybank shares at RM6.50 then. I went in earlier to get RHB Shares at RM5.15 as i thought it was cheap. Guess that I will wait to average down again if it drops to RM4.85 (based on the earlier RI price)

At a market cap of > RM700 million, it is not easy for retailers to "pump" the stock. Even the mighty rise of IFCA earlier had all the help from money managers. Hence, it is likely that Vivocom will continue to trade between 27/28 - 29/30 until the real catalyst emerges. Instacom has disappointed in the past and do not expect institutions to come in any time soon until they see real results. Those who hold will need to look at least 6 months ahead before realising meaningful gains, if any:-

Those who wish to trade the stock should look at the immediate short term catalyst which could come in the following fashion:-

1) Name change to "Vivocom" on Wednesday which could excite some retailers to make the move but this could quickly fizzle out just like when BV was publicized as one of the shareholders.

2) New management could be seen more aggressive with awarding contracts to the new "Company" as a mark of a new start. So expect more news flow.

3) CNY rally [expecting markets in China to pick-up but am continue to bearish in the long run until oil bottoms out at USD20 - 25] which seemingly has an effect on Instacom given the so called "China connection"; However, the market will eventually realise that the stock should not be so correlated with events in China as Chinese-based companies will need to look out of China in search of new frontiers.

Negative events to watch out for:-

1) The past placement was only "partially" completed. My bet is that the company will need to raise new funds and will look at placing it at a slightly higher price from the previous 0.25/ share as most investors are unlikely to consider this > RM0.30. Therefore, we could see the stock trading at 0.27 - 0.30 over this intermediate term. Looking at the trades several days ago, I am pretty sure some of the earlier private placement investors has exited for a 10% gain given that 8M of shares at 0.28 was done in seconds over the market.

2) Shit better not happen to Dato' Seri (DS) as there is too much of a concentration risk here. Investors should take note that DS is not a substantial shareholder of the Company. Please don't argue with me on this as there is sufficient public documents to suggest this. Therefore, it is still anyone's guess as to how he will be rewarded for the "significant" influence that he will be bringing into the business (This is also an issue which most institutions had shared). My understanding is that DS is merely a professional employee of the company. Don't ask me why.

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Vivocom will only have a good chance of getting contracts from those that Dato Seri's own WY Consulting firm has acted as a Project delivery partner. I doubt that Vivocom will get a bite on all new contracts awarded by CRCC. For the former, hear that there are good chance of contracts to be awarded to Vivocom as WY Consulting normally do not charge CRCC consulting fees in return for direct contract participation. Having said that, we have yet to still see meaningful infrastructure projects being awarded to Vivocom which will serve to re-rate the counter given the present infra play.

Feedback from institutions, they are less of being worried of the contracts not being awarded but more of the margins or execution risk as CIMB represented the margins for Vivocom is 11 - 13%, whilst most of us know that Chinese contractors only make 8 - 10% even for private projects. Therefore, they need to look at financials of the coming quarters before deciding. If Vivocom proves they can deliver, the stock should re-rate significantly given prevailing low valuations. That is why some seasoned investors like Koon Yew Yin, OTB, Icon888 have yet to promote this stock as I gather they want to see for themselves as well.

Therefore, I hope for bro hogwashhero not to be overly critical or to get personal with other forum members until we are proven incorrect which we will know by May 2016 once the 1QFY16 financials are out. If we are really proven incorrect by then guess the rest of us here will remember your kind deeds for encouraging us to avoid this stock from the start and perhaps grow to like you even better. Hopeful that we don't turn this into an ugly forum and let us start to respect one another.

In the mean time, guess those who are invested are taking a gamble and hope that CIMB is correct and just like how is to some extend be correct with small counters like Heveaboard, Evergreen, MyEG and IFCA. Having said that, CIMB has not gotten all their calls rights.

It's just too bad that our market remain closed on Monday as Oil staged has staged a remarkable rebound on Friday (+ 10%) which could have carry our market positively. Tuesday can be challenging as we may expect sudden sharp reversals given present market volatility where technicians will find it hard to get it right.

Happy Holidays :)