Hi TheContratrian, you still holding Affin or you have cleared all and waiting to buy back? I have pared down my holding at cost price. It does seem very strong but somehow this stock seems like in a coma. When banking stock rise, it does not move much and vice versa.
I have pared down, sold 2/3 of my holdings in the recent run up in February. Was hoping to buy back at 2.40 but each time I hesitated. Today I hesitated again.
yup. I'm holding masteel. Sold half my holding with little profit. Sold another half with transaction cost lost. Now holding 25% with paper loss. Sigh.......didn't immediately take profit after the bonus. Loss near to 6 figure profit.,.....but now capital is preserve ...
I didn't add more with recent sharp fall. This is not my year 1 guess. So clearing position now and mayb waiting to come back after GE. My timing has been bad this year.
Each time Dow Jones tumble, I was hopping Affin will go down to below 2.30 but buying support kept coming in at 2.40. Obviously someone is accumulating Affin patiently at 2.40 level.
But eventually some weak holders were forced to sell. Massive crash in Hong Kong and Singapore too. This is caused by the start of trade war between US & China.
Too early to decide. Need the market to stabilise a bit first. Contra players will be caught in the vicious down cycle in the next 3 trading days, so there's likely to be further price weakness.
Yes, big correction but it is also a buying opportunity. I always have cash standby to seize such buying opportunities. Look up for companies that have fallen a lot by percentage but is expected to post good profits in the quarter ended March 2018 which will be announced in May. These companies will rebound the most.
affin price really control by someone.....now matter how bleak.....it cannot go below 2.30......how good news, cannot go above 2.50.....on normal day.....ding dong between 2.39 to 2.41
TheContrarian.. I’m busy being posted to an embassy somewhere i dunno where.. lol.. hope its nice at least. So just watching.. in Affin for the long haul anyhow.
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TheContrarian
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Posted by TheContrarian > 2018-04-03 16:04 | Report Abuse
I have been waiting for Affin to drop in order to accumulate but 2.40 seems to be strong support level.