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Sorry to all the fools being fooled. All along i think this counter is been pushed up by the punters instead of investors... hope that the fools will learn from this bitter lesson. always study the counter before jumping in based on rumours/market talks!
using the "greater fool theory", looks like there are no more greater fools. those intending to hold the share short term are left holding the "baby". are the baby is wailing away.
price drop sharply today expected. first time Genting contra player will loss money ( if they didn't do cut loss last week) , payment has to be made today and tomorrow. they know how to lock them to payment period. that's the rules of the game you can play with.
Old news, but this is what the craze is all about!
Genting also plans to inject S$200 million every year to reinvent and refresh attractions at the proposed resort. This will ensure the resort remains appealing and encourage repeat visitation.
The resort is expected to attract 10 million visitors and generate S$15 billion in tourism receipts by 2015. Genting is up against contenders Eight Wonder and the Kerzner-CapitaLand consortium for the Sentosa project. The winner will be announced by the end of the year.
Responding to the media, Genting says it could make a gaming revenue of between S$1 billion and S$2 billion a year from the resort, which will open in 2009. - CNA/ms
Hi Elf,
Thanks for your advice!
then again... it's the irrational people who will be burnt first. No pain no gain..i suppose.
just to clarify my stance, sometimes irrational pple turn out to the big winners if they managed to exit b4 the prices start tumbling down. cos the so called rational pple would not have entered & thus forgone an opportunity. overall, just like its core business, gambling. buying this stock at current prices is very much like gambling in genting casinos.
The funds are gambling against each other...
waterfalls...
as i mentioned in my earlier posts, never underestimate the irrationality of people. there might be more irrational pple going in to buy Genting.
sold off all 0.70 after hold for 6month collect at 0.38
My gut feel is that Genting share price will tumble next week due to forced-selling. Contra play explains why such huge volumes. Agree?
I totally agree with giantlow posting.TA and FA are not important for this counter at the moment , perhaps at a later date. The herd mentality is at play. Pl. be cautious.
This counter is definitely shoot up again next week.
This gambling company is a punter's favourite. With a PER of over 200x FY07, it will be difficult to justify fundamentally.
Btw, I'm not related to zhugeliang.
Based on FA, I think the share should be valued at around 70 plus cents bah. but lets not understimate the herd mentalilty. might push the share price up to $1.20. might have a mini double top forming soon.
Based on FA and TA. To busy to trade often in stock market. Diificult to fathom the FA of private comp, so basically buy govt-link comp (for FA) and uses TA for entry and exit.
Hi sporeguy, what's your investment/trading style?
Since the price has shot up irrationally, it may fall to a more realistic price of 75c before it will continue to move upward in a more rational manner.
Stock price is still primarily on an uptrend. But current price action is whipsawed, best for intra-day trading. For buy-and-hold fellas, wait for the dust to settle then stock up. Good luck!
2 words to describe this counter
"irrational exuberance"