Wow, PCHEM's charm is irresistable! It took 41% of KLSE total volume today, at 0.64 billions. What a fat water for broker firms! Just too bad that the index is retraced today, and PCHEM is selling all the way from RM5.71 to RM5.30 and closed at RM5.31. Not as impressive as MHB but same fate as MAXIS. That's the problem for large IPO in this country. The number of retail traders are not mature and the price is not cheap. The local market is not overwhelm by foreign investors but they are in the neighbor countries. In addition, the key fund managers already in during the IPO. So who else left to push up the price? Nonetheless, PCHEM debut is definitely a good news for KLSE. Welcome!
I sold portion of my PCHEM lots in the morning. Initially I queued at RM5.7x, but didn't get it. After taking some time to CAREFULLY re-order due to my previous mistake, I only managed to sell it at RM5.5x. Poor me. Anyway, the rests of the portions will be kept for 1 or 2 years investment, depend on PCHEM income performance and the country economy growth. I'm positive about it.
Meanwhile, I also managed to sell the share which I accidentally bought few days back (mentioned in my previous post) at a reasonable price this morning, many thanks to my stupid mistake committed last few days ago. This stock is totally not suitable for short-term trading, as it is having extremely low marketability. But may be it able to shine in mid-term.
Besides, I have offloaded my ALAM, COASTAL, CENTURY, JCY, SUPERMX, HARTA and TOMYPAK shares for the past few trading days and swapped some of them to SUNREIT, MUDAJYA and ZHULIAN. Perhaps I will share the reason with you in my coming post. Hope this post will be my turning point in local share investment.
Have a nice weekend ahead.
Have a nice weekend ahead.
Posts
