Posted by Jjtrader > 2012-10-12 12:38 | Report Abuse

Today's opening price for fitters is manipulated by someone. The buyer and seller actual is the same person. They just sell 100000 shares at Rm 0.69 to themselves only because this transaction just take about 2 seconds to complete. After that no more buyers or sellers already. Luckily I sold all my shares on this counters already. Beware guys of this counter.

Posted by Hong2 > 2012-10-12 19:41 | Report Abuse

I went in last week... :( :(....

Posted by profit profits > 2012-10-14 17:16 | Report Abuse

jttrader,
how to sell back to ur own account ? teach me please& thanks.

Posted by chinwei86 > 2012-10-19 15:29 | Report Abuse

does this stock can buy now?
Pls advise...

Posted by HK_San > 2012-10-19 15:46 | Report Abuse

Yes, Should I buy? I am in the same boat! Anyone care to update??

Posted by Hong2 > 2012-10-19 18:19 | Report Abuse

I didn't do any research. However, was asked to buy by my broker. Maybe you may buy some, I bought in at 0.715 beginning of the month.

Posted by Dan Iel > 2012-10-19 19:52 | Report Abuse

-wa expire soo
n

Posted by Hong2 > 2012-10-19 20:22 | Report Abuse

-wa......expire in Nov2012....

Posted by captros > 2012-10-20 00:15 | Report Abuse

The WA is in the money at discount. Must caution. Would like to see what will happen until its expiry date. Fear is last minute manipulation to push the mother down and make WA out of money and became worthless.

Posted by Hong2 > 2012-10-20 01:15 | Report Abuse

Agreed! Better go for mother to minimize risk. Hope next week it will brew....,

Posted by captros > 2012-10-20 10:10 | Report Abuse

Hong, your broker asked to buy. Any specific event/announcement coming out. Or could be profit expected jump for 3rd quarter result?

Posted by Hong2 > 2012-10-20 11:07 | Report Abuse

Captros, was informed internally many collection at 0.685 and to keep till this month end.

Posted by aunloke > 2012-10-20 12:42 | Report Abuse

WA is not call warrant ,there is no reason for them to push the mother down, the only worry is share dilution after all the 98M WA being exercised and the forward EPS for 2012 may drop to around 8 sen or lower.

Posted by kcchongnz > 2012-10-20 13:53 | Report Abuse

Fitters at 69.5 sen and Wa at 14 sen with an exercise price of 53 sen means Wa is trading a a discount of 3.6% [(14+53)/69.5-1]. Say if Fitters stays at the present price when Wa expires on 27/11/2012, Wa holders who have bought Wa at 14 sen pays 53 sen to convert to Fitters and sell in the market at 69.5 sen, they will make 18% (3.6%*5) because of the gearing of 5. Not bad at all for this investment for slightly more than one month time, of is it? No, company, in this case Fitters, generally don't push down the underlying share. What for? They don't mind you paying 53 sen and convert to the underlying share. The underlying share however, will generally go down in price itself. Yes, the dilution effect of more Fitters shares now. So by the time you get back the converted Fitters shares, Fitters likely won't stay at that price at the expiry date of Wa but generally goes down. By how much Fitters will go down? You can approximate by looking at the money Wa holders pay to convert and the dilution effect on its earnings. But nobody would guess it precisely right.

Posted by captros > 2012-10-20 16:46 | Report Abuse

Yeah, you are right kc. But for those with holding cost less than 10 sen, its worth waiting and taking the risk cos safety margin is there to cover. We don't expect severe disaster here.

Posted by kcchongnz > 2012-10-20 18:16 | Report Abuse

In actual fact, company warrants like Fitters is an American type option which one can converts any time now and no need to wait until expiry date of the warrant. In fact there is an arbitrage opportunity here as detail below:
Sell 1000 shares of Fitters at 69.5 sen on Monday morning, get 695.00
Buy 1000 shares of Fitters Wa at 14 sen, pay 140.00
Send Fitters Wa for conversion, pay 1000*0.53=530.00
Total cost = 140+530= 670
Profit = 695-670=25 or 3.7%
The risk-less profit is 3.7%, just like that, no need to come up with any cash. Sorry for the overestimation of profit in my previous post.
However, Bursa does not allow short selling. One has to come out with the initial 140.00 to buy the Wa and 530.00 for the conversion cost. It is not really riskless because you can't sell first and assure your profit. The risk is that by the time you get back the converted share, the underlying share price has dropped. But why should one convert the Wa before its expiry date to lose the time value of the warrant, if the profit is not riskless?

Posted by tonylim > 2012-10-20 22:39 | Report Abuse

Aunloke are you into fitters

Posted by aunloke > 2012-10-21 12:35 | Report Abuse

Not yet, because of pending earning dilution from the conversion of WA, hope to enter at a better price should market make a serious correction which will come sooner or later.

Posted by tonylim > 2012-10-22 23:22 | Report Abuse

price had been flat past month. isuspect they willgoreng soon. they got new tech

Posted by Dan Iel > 2012-10-23 11:40 | Report Abuse

64c

Posted by Hong2 > 2012-10-23 20:25 | Report Abuse

Why 64c?

Posted by captros > 2012-10-23 23:31 | Report Abuse

May be caused by dilution of warrants exercised which enter the market in the last few weeks. More exercise will come.

Posted by Hong2 > 2012-10-29 13:49 | Report Abuse

What happened leh...? Stagnant only! Damn sian!

Posted by Jjtrader > 2012-10-29 15:24 | Report Abuse

Volume is big but .... Share price never move. Why ???

Posted by Dan Iel > 2012-10-30 10:08 | Report Abuse

ew dropping

Posted by trefoil > 2012-10-30 10:23 | Report Abuse

Damn stupid counter! Never listen to ECM Broker!

Posted by chinwei86 > 2012-10-30 10:40 | Report Abuse

u mean this counter not advice to jump in at this price?

Posted by trefoil > 2012-10-30 11:22 | Report Abuse

Now maybe can lah, bcos the buy back at 0.665! Hopefully will maintain at this level....

Posted by chinwei86 > 2012-10-30 12:38 | Report Abuse

hmm, ok...

Posted by Hong2 > 2012-10-30 20:37 | Report Abuse

Volume big, but price drop lower than the BuyBack value at 0.665...:( :(

Posted by Jjtrader > 2012-10-30 23:09 | Report Abuse

Somebody keep on selling the shares that why big volume but price dropping. Distribution of shares perhaps.

Posted by Alex Lim > 2012-10-31 00:49 | Report Abuse

Looks like down trend... i think better wait until all warrants exercised first.

Posted by aunloke > 2012-10-31 10:35 | Report Abuse

Simple logic will tell you that if you have mother shares and warrant ( the majority share holders should have that ), just sell the mother and convert the warrant, the balance is still good ,about 13 sen and this is what I had pointed out in July - the risk of share dilution from warrant conversion.

Posted by Jjtrader > 2012-10-31 10:39 | Report Abuse

Noted the power of warrant dilution. Thanks bro aunloke.

Posted by aunloke > 2012-10-31 10:48 | Report Abuse

However it's fundamental is good for long term I'll surely buy in after the market makes a correction.

Posted by Dan Iel > 2012-10-31 12:04 | Report Abuse

mayday mayday . 2 years low.

Posted by aunloke > 2012-10-31 16:59 | Report Abuse

Don't panic, this ship won't sink in spite of the storm ahead.

Posted by Hong2 > 2012-10-31 17:40 | Report Abuse

Luckily today close slightly higher...:)

Posted by trefoil > 2012-10-31 17:55 | Report Abuse

I agreed too. If hv dividen will be good as the fundamental is good.

Posted by tonylim > 2012-10-31 18:13 | Report Abuse

i bght 100k shares in July/aug at 0.68, the highest i can remmber was 0.72 sen. Sold off in Sept.

When is warrants expiring? aunloke

Posted by aunloke > 2012-10-31 19:32 | Report Abuse

Hi tony, last day of trading of warrant is 07/11/12 and the expiry date is 27/11/12,hope this will help.

Posted by kcfan > 2012-10-31 23:09 | Report Abuse

Collecting mode during weakness.

Posted by tonylim > 2012-11-01 00:02 | Report Abuse

kcfan what's a good entry price

Posted by Hong2 > 2012-11-01 03:20 | Report Abuse

My entry was 0.715 in Oct.. Will the price drop further? Pity worry!

Posted by kcfan > 2012-11-01 07:58 | Report Abuse

Entry on RM0.645 will average up base on share back buy by company recemtly.

Posted by charlie chia > 2012-11-01 08:05 | Report Abuse

Shd be rock bottom already
some big project in chins

Posted by chinwei86 > 2012-11-01 09:31 | Report Abuse

means for this counter 0.645 is the lowest price since recent 3months?

Posted by Eric Tee > 2012-11-01 11:25 | Report Abuse

recently low 0.64

Posted by chinwei86 > 2012-11-01 12:24 | Report Abuse

today the trend going down..ald at 0.64...duno will furtehr break down or not..

Posted by Hong2 > 2012-11-01 12:27 | Report Abuse

Adui.... I went in too earlyleh at 0.715! So kek sim now....