I think today big hammer will kill the goose in short term, bonus share also not much help, only wait for good quarterly result will help, if result not good / back to previous of EPS 7-8cents....then will be another drop...back to 3.50 level.
Ta Ann 1Q16 results is supposed to be out tmow. Today's share price performance is a reflection of fund managers' revised expectations of upcoming results> RHB cut their TP from RM5.30 to RM3.92 (from Neutral to Sell), citing weakness in the timber segment.
@murali That's true. No more "solid counters" at the moment. Just a bit of negative news would trigger a sharp fall. Goes to show how brittle confidence is. Must be agile and cut loss early should the unexpected happen. Ask questions later. But there are also opportunities to try play the rebound game. No more Buy and Hold - it's now a market for trading.
@hng33 - Some people misunderstand him, and think he is 'cocky, show off'. They take delight when his trades don't go perfectly. As if they will make money as a result. This is what I see of him - he's a trader who is very transparent in that he'd declare his buys and sells. For some reason, that irritates a few people. Why should it for this is an investors' forum where everyone should feel free to express what they want.
I know for a fact that there are people here who appreciate him declaring his hands. Myself included, because I know he does his homework and there are good reasons for his decisions. His record isn't 100% of success but it's quite good. Newbie traders and also those with experience can learn something by adopting an open mind and observe others. This is what the forum is for.
And back to Taann - I'm out 13 sen from coming in too early in the morning. Decided to cut loss early due to the uneasiness that it's EPF doing the selling. Turned out to be the right decision because the counter went below 4.00 after that. Went in again. But still in the minus overall due to the earlier loss. That's how it goes with trading. Accept a losing trade and try to learn what we could have done better. In my case, it was coming in too early. Should wait until it's reasonably clear the bottom had been found first.
ChartNexus lists 3.98 and 3.94 as the new support levels. But these might be taken out if EPF or whatever big investor sells tomorrow. I believe there might be a momentarily lull. If they intend to sell a certain amount, I'm sure they would want a good price for the remaining units. It's in their interest to not let the price fall too much. Last week, there was a lull, and Taann rebounded mildly from 4.43 (or so) to 4.50-something.
Today, I believe they didn't expect the panic selling. So it's possible the big investor might stay out for a while. But this is just my speculation, of course. Just watch the support level tomorrow. If it doesn't hold, maybe it's better to cut loss and just watch for the time being.
The selling may continue on until such time when the sellers raised enough cash for whatever purpose they may have.. Its pretty motivated sellers...and at times seem desperate.. Good luck amigos
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
buddyinvest
719 posts
Posted by buddyinvest > 2016-05-18 16:58 |
Post removed.Why?