KLSE Stocks Update as close July 22, 2009

5:22 AM Joehari Matt

Sold all my open positions: including:

UEM
24/06/09     bought  1.510   sold at  1.68 (22/07/09) changes 11.3%    
01,02/07/09 bought 1.435   sold at  1.68 (22/07/09) changes 17.1%    

ECM                                      
24/06/09    bought 0.615   sold at  0.665 (22/07/09) changes 8.1%
   
TEBRAU                                      
24/06/09    bought 0.755  sold at  0.805 (22.07.09) changes   6.6%

That decision greatly influenced by my bearish overall market outlook. Although I think those counters like UEM and ECM still have potential but I think the index linked counters can pull down these counters together with them especially when the market leaders are probably the same group of large fund managers.

They really 'lead' the market, even in daily market action. E.g. today, the index move first and then only other counters moved up. Seem to me the participants of those counters waiting the signal from the index then only they buy again. That is not the typical intra day market action for active counters. Normally by market opening to 10 am you already can see the active action.

The closing time also a dismay. CI retraced back later in the afternoon,  so are those counters. However CI retraced about only 50% but many of active counters retraced over 100%.

I just don't want to get caught. Can enter again another time.

DBHD update as close July 21, 2009

12:35 AM Joehari Matt

Caught in this counter, managed to get out at 0.20 today. Here the stat of my position:

bought on 24/06/09 at 0.245
sold on 21/07/09 at 0.20 that -18.4% loss 
highest since holding 0.283 at 16.3% (damn, should have sell around this previous, it called greed).

I have experienced far worst than that, so 20% down is not that bad especially when this counter is not the only one in your portfolio.

Why after looking so good, suddenly dropped  like there is no tomorrow?

Here's the reason: CAPITAL REDUCTION . The worst official company event if you are holding the it's stock.
  
In DBHD case:
"every five hundred (500) resultant shares of RM0.16 each into one hundred and
sixty (160) ordinary share of RM0.50"

 


Here is the reverse-chronological announcements:

21/07/09

NOTICE OF BOOK CLOSURE
----------------------------------------------------------------------------

LISTING'S CIRCULAR NO. L/Q : 53934 OF 2009
Capital reduction of RM0.84 per ordinary share of RM1.00 each in Damansara
Realty Berhad ("DBhd") and thereafter a share consolidation on the basis of
every five hundred (500) resultant shares of RM0.16 each into one hunderd and
sixty (160) ordinary share of RM0.50 each in DBhd ("Consolidated Shares").
Kindly be advised of the following :
1) The above Company's securities will be traded and quoted [ "Ex - All" ]
as from : [ 29 July 2009 ]
2) The last date of lodgement : [ 31 July 2009 

 

 



17/07/ 09
Capital Reduction & Share Consolidation
----------------------------------------------------------------------------

Ex-Date : 2009/07/29
Entitlement Date : N/A
Pay Date : N/A
Entitlement Price : 0.00%
Par Value : 0.0000
Entitlement Type : OT
Entitlement Indicator : C
Entitlement Remarks :
Period Ending : N/A
The date of listing and quotation of the Consolidated Shares will be on 3
August 2009, being one (1) market day after the Entitlement Date of 31 July
2009. The Notice of Allotment will be despatched by 7 August 2009.
Capital reduction of RM0.84 per ordinary share of RM1.00 each in Damansara
Realty Berhad ("DBhd") and thereafter a share consolidation on the basis of
every five hundred (500) resultant shares of RM0.16 each into one hunderd and
sixty (160) ordinary share of RM0.50 each in DBhd ("Consolidated Shares



09/07/09
WRIT OF SUMMONS
---------------------------------------------------------------------------- 
- WRIT OF SUMMONS FROM STRUKTUR EVOLUSI SDN BHD TO TEBING AUR SDN BHD AND DBHD.
Further to our announcement dated 8 July 2009, we wish to announce the
following information:
1. Date of hearing:-
The hearing date has yet to be fixed by the High Court.
2. Cost of investment of DBhd in Tebing Aur Sdn Bhd:-
The total cost of investment by DBhd in Tebing Aur Sdn Bhd is RM1,682,497.
This announcement is dated 9 July 2009.

05/06/09
Resolutions Proposed at the 47th Annual General Meeting
----------------------------------------------------------------------------
Resolutions Proposed at the 47th Annual General Meeting of Damansara Realty
Berhad ("DBhd" or "the Company")
The Board of Directors wishes to inform that all resolutions proposed at the
47th Annual General Meeting of the Company held on 5 June 2009 were duly passed
by the shareholders of the Company.
This announcement is dated 5 June 2009.



EX-date : 29/07/2009 
Entitlement date : 31/07/2009 
Entitlement time : 05:00:00 PM 
Entitlement subject : Others
Entitlement description : Capital reduction of RM0.84 per ordinary share of RM1.00 each in Damansara Realty Berhad ("DBhd") and thereafter a share consolidation on the basis of every five hundred (500) resultant shares of RM0.16 each into one hunderd and sixty (160) ordinary share of RM0.50 each in DBhd ("Consolidated Shares")

KLSE Stocks Updates as July 20, 2009

8:23 AM Joehari Matt

In view of my current KLSE bearish outlook, I am in selling mode now. Counters that supposed to correct near 38% of earlier trend can now corrected near 68% and it still within Elliot wave rules. I can't look forward for trade with longer (several weeks) holding period because of longer term bearish outlook. It is for short-term swings now. I expect it is going to be less momentum stocks or stock than can run up for several weeks.

I have just post updates on my stocks positions and outlooks:


UEMLAND


ECM


DBHD
TEBRAU

UEMLAND update July 20, 2009

7:14 AM Joehari Matt

 

 

 

 

Added July 22 : Position Closed, refer Klse Stocks Summary update

My bullish view still maintain.
The current sub wave can be in bullish wave 5 or d or 1.
If wave d, then another correction wave e coming (1.25 zone)


UEMLAND daily chart: (click for larger view)


uemland

ECM update July 20, 2009

7:09 AM Joehari Matt

Added July 22: Position Closed. Refer to KLSE Stocks Summary Update 

Likely the corrective a,b,c wave sequence completed.
If so, now it is in wave 1 of a new Elliot wave sequence.
Whatever, good support at 0.565
Target beyond 0.785



24/06/09 bought 0.615
current: 0.665 chg 8.1%
highest: 0.665 chg  8.1%
lowest: 0.565 chg -8.1%


ECM daily chart:

ecm

TEBRAU update July 20, 2009

6:34 AM Joehari Matt

Added July 22: Position Closed. Refer to KLSE Stocks Summary Update 



TEBRAU TEGUH
A few alternative reading for current sub-wave.
Minor correction can be expected.

The current sub wave can be in bullish wave 1 or d.
If wave 4, we look forward to 0.95. 1, we look forward to target soon.
If wave d, then another correction coming (0.70)

24/06/09 bought 0.755
current: 0.805 chg 6.6%
highest: 0.830  chg 9.9%
lowest:  0.680  chg -9.9% 


TEBRAU daily chart:

tebrau

DBHD update July 20, 2009

6:31 AM Joehari Matt

There was sudden downward surge yesterday with a very high volume surge (July 20), and why is that?

Now,it seem wave 4 (alternatively corrective a,b,c,d,e) haven't completed. 0.185 is the last level it should go, beyond that mean my wave calculation messed-up.

Bullish long-term Inverted head and shoulders patterns in weekly chart also depends on this 0.185 level.

I don't watch this counter yesterday, anyway its too late for me to sell. The long tall bearish candle formed today is so sudden reflecting there a strong fundamental event happening.

That long black candle is so bearish I doubt 0.185 will level hold unless the long bearish is just an over-reaction (gap to be filled).

 

 

 

 

 



24/06/09  bought 0.245
current:  0.195 chg  20.4%
highest:  0.285 chg 16.3%
lowest:    0.22  chg -20.4%

 

 



DBHD daily chart:


dbhd-daily

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

DBHD weekly chart:


dbhd-weekly

Stock picks and position update 14/07/09

4:31 PM Joehari Matt

I will say my previous 'view' of the stock picks still hold. I am just holding the position confidently although there's some kind of zig-zag that in other time can be uncomfortable. Some of the counters e.g.:. UEMLAND ECM are in corrective wave (a,b,c or a,b,c.d,e) after wave 5, thus short sideway or zig-zag or triangle patterns are normal. I don't normally update my 'view' unless there some significant movement in the market or my view turned out totally wrong. In view of KLCI is breaking the recent high 1,095 pt, it's time to look again at those counters mentioned previously in this blog.



Here is my buy position as market close 14 July 09:



               STOCK            current         highest gain      max drawdown
    close price % highest price % lowest price %
UEMLAND            
24/06/09 1.51 1.47 -2.6% 1.71 13.2% 1.32 -12.6%
01,02/07/09 1.435 1.47 2.4% 1.71 19.2% 1.32 -8.0%
             
ECM            
24/06/09 0.615 0.595 -3.3% 0.66 7.3% 0.565 -8.1%
             
TEBRAU            
24/06/09 0.755 0.735 -2.6% 0.83 9.9% 0.68 -9.9%
             
DBHD            
24/06/09 0.245 0.245 0.0% 0.285 16.3% 0.22 -10.2%
               

UEMLAND update close of 02/07/09

5:52 AM Joehari Matt

High probability level which current wave C (assume we are right that it is wave C) can go and rebound:
Min: 1.30
Typical : 1.20 (bottom wave 4)
Max: 0.98
See the the updated UEMLAND daily chart at the bottom.


 

 


If it rebound at about 1.30-120, it should be great because micro double-bottom pattern will be created. That a buy signal for few days profit. If 1.20 cannot support, be prepare for 0.98. Thus, 1.25 is an important decisive level to watch.

 

My position:


1. buy 24/06/09   1.51
open position:
highest gain at 13.25% (1.71) (can sell at about this level but I am going for bigger profit and willing to hold many weeks)


max drawdown -9.27% (1.37) 

current: -8.61%



2. buy 1,2/07/09 1.435

current: -3.83%

 



UEMLAND daily chart : click to enlarge)


uemland

previous post: UEMLAND

UEMLAND - buy 01/07/2009

3:34 PM Joehari Matt

Adding position to UEMLAND. I perceived current intra-day price at 1.45 as the minor support level.

# Bought today at 1.47 (done), queuing more at 1.45.

# 1.51 bought on 24 the June Original outlook at UEMLAND

update 02/07/09 average buy on 01/07/09 and 02/07/09: 1.452

KNM

12:15 PM Joehari Matt

KNM GROUP BHD (Stock Code: 7164)

KNM is one of the top active counters that remain in the top for some months. It has been so long that I think it may be exhausted and other counter will take it place. Therefore this counter not really got my interest now, although many of my friends still playing with this.

 



Anyway, since it is the only counter in FB30 component with price tag below RM1 and is the cheapest component counter, maybe I should keep this counter in my stock watch list. EPF has been accumulating it for some period. That explains the top active position. Add the factor that this kind of counter has been attracting many punters.



The questions are, "Will EPF buying again?". "Should a FBM3O components counters remain below RM1?". It is not against FTSE Bursa Malaysia Ground Rules but even the runner up for the cheapest price in FBM30 components is MMCCORP at 2.13. 

While I think the immediate 5 wave of KLCI still haven't completed, for KNM it has already completed. KNM could be in a,b,c or zigzag corrective wave. Thus, KNM could have difficulty heading toward RM1. I will pass KNM this time, will wait say few weeks time for zigzag wave to be completed.



In watch list.



Update: My apology. KNM is not a FBM KLCI component. Blame it on my expensive live chart provider for listing KNM as one of FBM30 component stock although it has been replaced by Astro since Dec 2008.


KNM daily chart:
knm