Thanks to Obama bank limit plans, we have the opportunity to buy some shares with lower price. With Obama unveiled plans to limit the size and scope of US banks and finance firms, it made the highest tumble of US stock this month. I believe US stock market will be weaken for a couple of days before it re-bulls again. We just be patient for the moment.
Okay, let's have a quick look at Rubber glove and Steel sectors. Both of them dropped and rebound after lunch time. The rubber glove stocks were triggered stronger after Ruberex released the 4Q09 financial result, which is positive. Hartalega will be releasing it's tentatively by next Thursday. It will be good that we hook it up now at a lower price. For Steel sector, I'm still looking good at Lionind, because of it's super low PE and I expecting it's coming positive earning release which can reflect further it's share price.
Have you 'potong'?
For finance sector, perhaps we can omit about Hlbank and Eoncap at the moment, while Pbbank will be distributing lower dividends this quarter, buy or not, you decide yourself. I think it might not be a good deal, because we always hope for better one. Well, perhaps we can focus on those undervalue and lower PE companies under this sector for a higher profit. I heard rumors that Rcecap is going to rise anytime, and I see strong support at certain price, any clue?
I'm glad that I'm not working today, so I have some time to monitor the market today. Among the stocks I spotted in my earlier post, I have entered 3 of them today before they rebounded.
Happy trading.
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