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Saturday 24 August 2013

Another wave coming soon

Before last Tuesday, everything in KLSE seem normal. All of sudden, selling volume increase tremendously. I manage to sell off Cscstel at 1.32 and Marco at 0.155 to increase my cash position and gain around RM180 after deducting trading charges. However, I did a mistake of adding 20 lots Supermax at 2.4 increasing my average price to Rm2.195. This make me hesitate on Thursday to increase my position at RM2.22 when panic selling happen again.

 I will keep Supermax since its quarter report should be out by next week. Hopefully the result will be great since US dollar appreaciate a lot and rubber price has been stable all this while. Demand also increases as I observed there are quite a lot outbreak of bird flu around the world including Mers in Saudi Arab, H7N9 in China, H1N5 in Cambodia, H1N1 in India and flu season is coming in US from October to May.

FED's minute on last Friday did not mention much of QE tapering so I would expect there will be another round of panic selling around 17 and 18 September. For the mean time, we may observe technically rebound and the one thing I wanna make sure is whether foreign shareholders will sell again. So far this had happen to Indonesia, Thailand and Filiphine, it just unknown when is Malaysia's turn. Therefore, I get ready my bullet and also buy myself a new gadget Samsung S4 as a reward for myself.

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