I was quite lucky to dispose all my comfort shares today itself despite buying high and selling low . If l hesitate to sell today , it would be in a very terrible stage by 2morrow expecting a heavily sell down by 2morrow with the plunge of the DJI to 1500 over points at the time of writing . Lesser lost is considered a win now and a delay in just a day to sell would makes big differences in terms of price .
I also cut lost today after falling for the false gap up... But remember the time when DJI was bad? That was when the glove counter did very well because investors abandon oil&gas and run to healthcare again.
That's why I think that if it wasn't for the suspicious mass sell-off in the 2nd session, glove may have soared and continued to soar today, but now even the sentiment in gloves has been soured. So many burned.
Biotech company Regeneron announced it has started to test its potential coronavirus drug on humans to evaluate if it can effectively treat and even prevent Covid-19.
Almost all medical related stocks and gloves stock were surging higher from beginning of covid-19 global outbreak in March 2020. Now second wave outbreak is actually benefiting gloves and health stocks more.
..... forms when a stock's price rises to a peak and subsequently declines back to the base of the prior up-move. Then, the price rises above the former peak to form the "nose" and then again declines back to the original base.
U.S. markets fell . Worries of a second wave of coronavirus cases grew after Texas, Florida, and California reported recent rises in their cases.
Another 1.54 million people filed initial jobless claims in the week ending June 6, according to the Department of Labor. This was slightly better than Wall Street's estimate. Since peaking in the week of March 27 at 6.87 million claims, jobless claims have fallen every week. While the trend is lower, about 44 million Americans have filed for unemployment in the past 12 weeks.
Treasury Secretary Steven Mnuchin said the U.S. would not shut down again in the case of a sustained second wave of COVID cases, adding that the fiscal stimulus plans have a lot more cash to support the economy.
Today's selloff pushed the S&P 500 below the 200-day moving average.
With or without another stimulus package, $1 trillion [Drool][Drool][Drool]is set to be pumped into the U.S. economy over the next month
PART 2 : GLOVES SECTOR - THIS IS MY REAL PLAN ON PHASE II FY20 - FY21
So today as we all know and expected Top Glove Bhd released its excellent and superb quaterly financial result. With strong worldwide demand for rubber gloves amid the COVID-19 pandemic, it is unsurprising that Top Glove Corp Bhd has recorded its best-ever quarterly net profit in the third quarter ended May 31, 2020 (3QFY20)
Top Glove executive director Lim Cheong Guan said strong orders and demand are expected to continue for the next one to two years. In 3QFY20, sales of nitrile gloves jumped 47% year-on-year (y-o-y), natural rubber gloves sales leaped 8%, and surgical gloves sales rose 21%.
From here perspective, we already know how good their business is. So as I told many times Gloves Sector already applied in "Defending Stocks Territory". Also I am agreed some analysts said Top Glove have projected a net profit of as high as RM3 billion for FY21 So if they really can archieved that of course and definitely my last target RM35 surely hit FY21.
1. "BUY IN JUNE HISTORY WILL REPEAT PREVIOUS APRIL"
- Today we had received very clear signal. We can buyback / Addmore cheap gloves. Follow the waves you will be safe in the ocean.
- Today also I saw many new retailers those bought high cutloss because not have holding power.
- Gloves, for sure now you cant do daytrade. It not easier like before or previous 6 months.
- Tomorrow I am expect Gloves stock only good performance and will lead the market movement.
- After 6 month gloves performing, now another 6 months to go. As I am expecting Gloves will play role till March 2021. So I am not worried holding as investement till next year.
- My planned as follows : 1 month (Buy) next 5 month (Sell) - January - June FY20 1 month (Buy) next 5 month (Sell) - June - Dec FY20 1 month (Buy) next 3 month (Sell) - Jan - Apr FY21
- I am expecting the profits of quaterly and yearly results. Not base on when this Covid-19 will be end and vaccine will be found. So Big-4 gloves profits already calculating on paper profits FY21.
- I am predicting Dow Jones will slump and break down badly again amid Phase II Covid-19 hit badly America Latin. Second wave fears spark global share sell-off. Index will be around 20,000 - 22,000 from current now stand at 25,700
- More manipulation / speech from Mr. T will make their more worst because to satisfy their-self agenda.
- Incidence of violence and inhumanity against blacks in their country already facing very big issue.
- The number of U.S. coronavirus infections passed the two million mark and over 112,000 Americans have died.
For those dungus who keep harping on about dayang case, this counter is no dayang hello. Comfort is going to come out with excellent qr this month, and will show record Fy 20. Once all short term traders have been cleared out, it will climb again.
Two three big sharks already no share in hand.. cannot drop further
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Enquire
167 posts
Posted by Enquire > 2020-06-12 00:56 | Report Abuse
May I know how will Dow Jones affect Malaysian glove counters?
Apple1234 Dow Jones drop 1454.73,tmr take care.