It was a surprise today when I login to my trading account and noticed 4 of my queuing stock prices were fully matched around 4.30pm. With a quick check, many of the small cap stocks falls by 4 to 5% and allow us to buy in at a bargain price.
By looking at the counter, KLCI index falls 9 points before gain 2 points for closing. The fall of the index was caused by Shanghai China SSECI index dropped around 4%, a second waterfall after shortfall of 5% on last week. So what's next? 3% on next week? We don't know, I hope there won't be mid-term correction so soon, but some short correction to allow us to collect some stocks at bargain prices. Overall, the local buying power is still look strong, coming election effect?
The 4 stocks I managed to collect at small lots including ALAM, CENTURY, COASTAL and TOMYPAK. I'll accumulate more lots if they falls more than 7-8% on next week. I also want to collect other mid cap stocks like SUNCITY and SUPERMX, but their prices just did not come down to hit my quotation.
Anyway, any luck for your Petronas Chemical IPO application? It's a tought one. Perhaps I will post about it on tomorrow evening if I have time. I feel great that tomorrow is a public holiday, but I have to travel.
Have a great holiday ahead, folks!
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