This presents a good opportunity for long term players to buy if they missed it yesterday. Sure there are many fund managers who missed it yesterday morning.
Big fund managers do not" buy today and sell tomorrow". So the sellers today are small players only. Of course the cleverer big funds will push it down to buy. Or the major shareholders and their syndicate also help to queeze the weak holders out.
company make big profit and so cheap ..what are you waiting for ? Goreng stock making loss you chase like nobody business...buy and hope this covid is not going away for years...
There were many enquiries from retail investors asking the following question :
1. Is the glove rally today a technical rebound?
2. Should I re-enter now?
One of the more important signal I have been waiting for was local funds flow.
For 16 weeks in a row, local funds have been net sellers. From my channel checks, many local funds (except EPF) have been selling gloves since the start of the year. In a large part, the selloff in glove stocks was contributed by local funds.
From the preliminary data, local funds has returned to Gloves.
Back to the 2 questions above,
1. I believe if local funds are net buyers of glove, this surge in glove stocks is not a one day show due to "technical rebound". The upward momentum is set to continue.
2. I dont believe in chasing stocks, neither do I believe in going in and out with a short term horizon. Invest in glove stocks if you believe in the fundamentals of the company.
By the way COMFORT is trading at PE of only 4 times. The cheapest I believe among the Gloves counters.
The people who sold Comfort shares on Friday are basically the day traders and short term T-3 players. That was why the traded volume shrank from 30+ million on Thurday to 15+ million units on Friday. Tomorrow ( Monday) the fund managers who missed the buying on Thursday and did not buy enough on Friday are likely to pick up more Comfort shares. Comfort is not likely to drop much tomorrow but more likely to go up instead.
i bought comfort last thursday at RM 2.23.pe very low about 4 if not mistaken.currently also holding other glove counters.topglove.supermax.kossan.all this counters producing good profit . low pe.good fundamental stocks.hope mr market can give a fair price to all glove profitable counters .good luck guys.
Persistent nibbling by the buyers at 2.24/2.25 lebel is a sign that there are people collecting Comfort at these prices which gives support to the counter.
Yep... P/E of 3 to 6...just ridiculous with the ever increasing Covid cases. Add 3 lowest value gloves counters... Comfort, Supermx and TG... Will be rewarded long term.
yes, Comfort showing good strength. Contra selling well absorbed. A break of recent high at 2.41 will see a test of 2.51/2.53. if taken out, we could see an accelerated run to 2.77/2.85..
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tah16600
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Posted by tah16600 > 2021-04-09 15:14 | Report Abuse
No contra playing ya!