KLCI index in red again for the 3rd consecutive day. According to the news, the local market went down 19 points today due to the concerns about more monetary tightening policies by China's government. It seems like not a new issue to us.
The big drop of the market supposed to be an opportunity for us to buy some. I did notice some big-cap counters having few percents correction, like CIMB and PCHEM. That's okay. However, when I look at my interested counter price, they didn't drop, at all. What a disappointment!
One of the examples is MEGB. I'm expecting it to drop deeper, but it remains the same price as Wednesday closed price. Another example is the counter that I want to accumulate as part of my portfolio, which discussed in my previous post. I thought I've a chance to hit my buy queue price today. Unfortunately, the price stood firm and remains unchanged.
Well, perhaps not many local investors interested to trade on this counters for the time being. I have a feeling that next week will be the final chance for me to accumulate it. Perhaps I will consider to rise a little bit on my buying price.
How about you? Are you sitting back like the fund manager or started to hunt for gem? Even though most of the counters price have shot up like no tomorrow, there are still small portion of laggards with undervalue price. And that's we called gem.
Yes, they are a lot riskier than blue chips. but their upside and return are a lot more potential as well. Think about it. As usual, you'll have to do your own 'homework' to find them out and study them.
Have a nice weekend, folks!
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