Posted by smallrail > 2023-03-17 21:52 | Report Abuse

why all Local institution look bad for glove industry

Posted by DestinyL > 2023-03-18 13:04 | Report Abuse

Kossan has taken over Top Glove as the most shorted glove counter, which started since around 2nd week of Feb

Friday single day net short selling movement:

Kossan 1.7% to 1.78% @ 45.6m shares
TopGlove 1.68% to 1.69% @ 138.7m shares
Harta 0.77% to 0.76% @ 16.2m shares
Supermx 0.51% to 0.54% @ 14.6m shares (has remained at 0.51% for 2 weeks, yesterday finally changed)

Above is only looking at net short, intra-day shorting could be much higher

Posted by DestinyL > 2023-03-18 13:07 | Report Abuse

To give some perspective to the matter, 1st March net short sell for Kossan was only 0.7% @ 17.9m shares, while TopGlove was 1.34% and Harta was 1.09%

Posted by DestinyL > 2023-03-18 13:13 | Report Abuse

TG and Harta is valued higher in terms of price to book ratio due to having much larger production capacity than Kossan as well as perceived technical strengths
However, I believe the big gap in price to book ratio is unjustified, and could be the reason Aberdeen bought in

Posted by Endgame > 2023-03-18 22:12 | Report Abuse

Breaking news: Foreign funds buying more Kossan from the short position local institutions. The outcome is local institutional funds suffered the loss from unexpected foreign funds buy in

Posted by L2earn > 2023-03-19 14:26 | Report Abuse

possible to wait for 1.1x discounted price coming before buying

Posted by vic_amat87 > 2023-03-19 22:58 | Report Abuse

Kossan supported by foreign fund. Price more stable, the movement very stable. Kossan not only depend on glove for revenue, in fact they has other bsness. Well diversified

Posted by vic_amat87 > 2023-03-19 22:59 | Report Abuse

Harta and topglov movement more to panic buying. Fast up. Fast down.

Posted by Sharefisher > 2023-03-20 09:30 | Report Abuse

Hope price stays at this level, short sellers need to buy later also... Don't like short selling but no choice.

Posted by Chipee > 2023-03-20 09:36 | Report Abuse

Sharefisher: Yeah hopefully they get short squeeze

Posted by DestinyL > 2023-03-20 10:09 | Report Abuse

Don't forget short selling was super strong too not so long ago, maybe around 1.1 that time can't remember
At the end, I think short sellers won when Harta price plummeted

Posted by Sharefisher > 2023-03-20 10:22 | Report Abuse

What I see now is the contra players get squeezed.... Haha ha

Posted by Sharefisher > 2023-03-20 10:24 | Report Abuse

Hope kossan has good support... Popi Popi

Posted by DestinyL > 2023-03-20 10:28 | Report Abuse

Short sellers are different animals from contra players
Somehow, I think the rally is not over yet, now is just a lower high

Posted by vic_amat87 > 2023-03-20 11:15 | Report Abuse

Atleast 1.43 on the cards

Posted by DestinyL > 2023-03-20 11:15 | Report Abuse

Gloves is coming back

Posted by Sharefisher > 2023-03-20 13:16 | Report Abuse

Slow and steady up will do. Next year can reach 2 is good enough for me. Haha ha.....

Posted by Sharefisher > 2023-03-20 16:42 | Report Abuse

Last minute show coming?

Posted by nicholas99 > 2023-03-20 16:48 | Report Abuse

need see US.. if US keep gg.. then will continue gg.

Posted by DestinyL > 2023-03-20 17:21 | Report Abuse

If minor GG, maybe can at least hold

Posted by vitac > 2023-03-20 17:26 | Report Abuse

Minorlah banks collapse only, the sky is still there haha..

Posted by Mtrade > 2023-03-20 19:14 | Report Abuse

I buy with this fund, sure wont lose

Posted by Mtrade > 2023-03-20 19:15 | Report Abuse

kossan is recoverting and safest in glove

Posted by Mtrade > 2023-03-20 19:16 | Report Abuse

Kossan is diversified. not only glove

Posted by Mtrade > 2023-03-20 19:16 | Report Abuse

1b RM cash

Posted by yfchong > 2023-03-21 07:05 | Report Abuse

What is the destiny on kossan can beat 1.36

Posted by vic_amat87 > 2023-03-21 08:37 | Report Abuse

Kossan 1.43. Before pullback amd consolidate

Posted by DestinyL > 2023-03-21 08:55 | Report Abuse

I support 1.36 destiny lol

Posted by DestinyL > 2023-03-21 08:56 | Report Abuse

Finally managed to squeeze the short sellers
Net short selling yesterday reduced from 1.78% to 1.74%, good job to the holders

Posted by NatsukoMishima > 2023-03-21 09:04 | Report Abuse

Aberdeen buy for swing play only just like EPF did before , the share price wont sustain !

Posted by vic_amat87 > 2023-03-21 09:42 | Report Abuse

So powerful mehh u know…lol

Posted by DestinyL > 2023-03-21 11:09 | Report Abuse

At least Aberdeen still buying, albeit slowed down a little based on 16th March purchase

Posted by DestinyL > 2023-03-21 11:10 | Report Abuse

Coming!

Posted by DestinyL > 2023-03-21 11:31 | Report Abuse

Very good environment for some short term trading!

Posted by 2020covid19 > 2023-03-21 12:12 | Report Abuse

mantap!

Posted by vic_amat87 > 2023-03-21 12:34 | Report Abuse

Very difficult to break 1.30. Selling pressure too huge

Posted by Sharefisher > 2023-03-21 12:42 | Report Abuse

What I noticed was keep testing the higher points..... So far so good...

Posted by DestinyL > 2023-03-21 13:18 | Report Abuse

Yes, 1.30 has big resistance, but you can see the holding support is climbing

Posted by Sharefisher > 2023-03-21 16:08 | Report Abuse

Hope can break 1.30 and stay above it.....momentum is good...

Posted by Sharefisher > 2023-03-21 16:19 | Report Abuse

Wau... Lai lai

Posted by DestinyL > 2023-03-21 16:43 | Report Abuse

Sell a little 1.31

Posted by Sharefisher > 2023-03-21 16:52 | Report Abuse

Don't play play is still my opinion..... Haha ha....

Posted by Sharefisher > 2023-03-21 16:55 | Report Abuse

I don't think the price movement is supported by glove business recovery story... Maybe something big coming up.... Kossan is having so much cash so still don't play play.... Just my gut feeling..... Haha ha...

Posted by Sharefisher > 2023-03-21 16:57 | Report Abuse

Or huge sharks already in the water, replacing the old small sharks.... Haha ha... Still gut feeling only.... Haha ha

Posted by DestinyL > 2023-03-21 17:02 | Report Abuse

No worries, few sen lower will buyback lol

Posted by DestinyL > 2023-03-21 17:03 | Report Abuse

Sold less than 5%

Posted by rchi > 2023-03-21 17:31 | Report Abuse

Kossan has broken the nov 2022 rally high of 126,the other big 3 have not....kossan is the strongest of the big 4....Aberdeen power...good luck to all here

Posted by Endgame > 2023-03-21 19:57 | Report Abuse

Breaking news: Bull Riding with glove stocks

Posted by yfchong > 2023-03-21 22:51 | Report Abuse

Can get to RM 2.00 a piece before plunging to the drain.... ??

Posted by DestinyL > 2023-03-21 23:14 | Report Abuse

lol RM2?