Market still no improvement. A lot of CI components including Genting were under correction. If you want to collect CI components, please wait for a while. I believe the trend is consolidate and toward a small down trend. If the regional markets are getting bad, we cannot escape from down trend. My advice now is to reduce your capital exposal to about 30%. Buy only the good stock using technical analysis. Even if you are a long-term investor, it is good to wait for a while to buy them at a cheaper price. Try to avoid any CI components at this time; they are a bit over value. Due to the outbreak of H1N1, you can pay more attention on the rubber glove industry. The cheapest one is Supermx; base on its PE ratio and forecast grow by the analysts.
Due to the bad market sentiment, the new stocks that I mentioned yesterday were not really move. They either minor down, unchanged or rose very little. Out of all, Bstead has the most potential to go higher if it breaks 3.70. Anyway you can still put them in your watch list.
If I spotted any potential good counters during the market day, I will post it. Please login to check my blog at the mid-day and the evening commentary. There are not many counters can buy now.
ADVENTA – Our baby is back after it consolidated for 3 days. Now it exactly resisted by the trend line 2.52. Watch for break out 2.52. The trend for this stock is still an uptrend. Please refer to my earlier post called higher low.
TCHONG is another counter we can pay attention on it. I saw this counter was moving for 2 days but I did not post it due to the volume was retreated yesterday. Today’s volume is huge; it broke 2.49 and now looking to break the next resistance at 2.61. The support level is 2.40.
