For those that took profit at > 1.60, perfect Share Buyback at < 1.50 level for R3 (R1 @ 1.18, R2 @ 1.28 & R3 @ 1.48) of trading gain in 2020 by riding these Waves :-)
However, a word of caution. At current level, it is no longer feasible for Ikan Bilis trading as compared with the previous low levels of 1.18 & 1.28 in view of the significant downside risks as compared with the upside risks.
Times are different. Property overhang remains a problem and the Company still has high debts and did not declare any dividend for 2019. Although I bought in again at < 1.50 level today albeit small amount since I already made significant gain the last two rounds, it is important that other Ikan bilis without prior crystallised gains are not caught in any down cycle since it is no longer absolute “bottom fishing”.
Luckily all my SP Setia funds and bumper harvest gains fully crystallised @ 1.60 and invested into SuperMax in early January due to Middle East tension. SuperMax spiking up impressively due to the Wuhan Coronavirus pandemic.
Stay Calm, Stay invested in Glove sector. 1H of 2020 QRs are going to be exceptional. Depending on the timeline to resolve this Wuhan Coronavirus pandemic, their FY 2020 & 2021 results are going to be extraordinary. The volume of gloves required for usage and subsequent stock replenishment are going to be extraordinary. Figures (QRs) will speak louder than words.
Sentiment is poor due to challenging economic conditions coupled with 2019-nCoV in 2020. Whilst it is important not to encourage newbies to buy at this juncture, it is also important not to state ridiculously low target price. We are all investors with our hard earned monies and retirement funds.
Not good timing to share buyback yet even at 1.23 in view of the evolving nCoV and it’s impact on global economy/growth. Risk aversion and Cash Is King approach except for sectors specifically benefitting from the nCoV pandemic.
We are all comrades here in this forum. We must not mislead and lead newbies unnecessarily. We can only share views and hope that we can make monies together and not lose too much when needed. At the same time, we must not state ridiculous TP even if we are confident although all of us must make our assessments and decision and be responsible with our own action.
Based on the exceptionally low dividend of 1 sen, negative impact from Covid-19 and political situation, current share price not attractive due to the high risk premium. Only equities worth to stay invested will be glove related counters.
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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....
loico
151 posts
Posted by loico > 2020-01-02 12:01 | Report Abuse
dont simply sell out of fear...
also, dont simply buy... watch first.