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5 lots formed only 30% of idesa168 monthly salary. hehehehe. Looks like your worries are no more. In the short term until this rights thingy died down, nicky's words make sense. In a longer term, what you said makes sense.
Anybody out there SOLD their rights at the range bounded price 0.62 - 0.63? If so, pls tell why did you sell and what was your feeling before you sold. After you sold, did you think you made the right decision?
sentiment is gd today. may take more position later, let's see!
not so scarry lah! I have betted heavily liao....5 lots...hehehe!
not scaring u lah...u think..at 60cts exercise of Rights issue..and with mother share 62-63cts...those jokers that exercise would wanna cashin now at that range...likely that will be the range-bound loh...hard to see any upside for short term...hee...anyway just my speculations :P
Everyone was buying when Genting was trading at near $1.00 range. All who bought that time held a hope that Genting will be blue chip when 2009 comes, and will be trading at $1.80-$2.00 by then. I hope those hopes had not diminished after the mkt turmoil. Now, presenting an oppotunity, this same company/same counter trading at 40% discount to $1.00 with same business prospect, but everyone is running away from it. What is going on here? Rights or Options are just side bets. Concentrate on the mother share, concentrate on the business. This counter is currently trading with RSI in the oversold zone of 23.1%, Stochastic is treading below the lower band at -6.7. We should see some upside from here. Honestly I am not looking into holding Genting for as long as I live, but I definitely see some value in here with the current traded price of 62¢, VERY OVERSOLD! I think I will be in soon, although I placed only 5 lots todays, to test the water. I am sure this counter will be/should be trading in the range of 70¢-75¢ zone.
The selling should be those who have been force to buy the rights & need to return the money back to creditors so they are now selling it in the open market to retrieve back their capital with a small profit. Then there will be those who bought the right at 0.5 to 1 cts & will be selling again after they had converted the right. If the price dip below 60cts, than it should be holders who want to run road in an emergency mode or someone who got the ability to force down the price to buy it cheap. It will be a good opportunity to buy as low as possible at this point as it does not always happen in this case for someone to bring down the price for you to buy.
If you observe the chart of Genting, there is no slowly climbing. It surge in a day or two with HUGE gain, then subside into range bound trade, then surge again. I order to catch that surge, we have to stay in the course, of course this will expose ourselves into wave down...sigh...it's so hard to play this counter lah. I think I will quit my 5 lots and go somewhere else more predictable. Dun wish to get caught with pants down. Lets see what will unfold tomorrow. Fingers cross!
Once the rights isuues $$ is received,the 60c will give away..now is temporary suppoerted by DBS the underwriter...with bsuch massive overhang of shares..sure to go down
Lets see. My casino starts tomorrow with this counter...hehehe! Cheers guys.
Is the heavy sell down today caused by the BB using the rights? More than 10 000 lots of sell down.
If tomorrow this counter can maintain at 0.62 to 0.64, I think should be quite safe.....
maybe i change my mind tomorrow and decided to keep till Genting open house at Sentosa in 2009...hehehe!!! Maybe got $2.00 by then...hehehe!
If tomorrow opens low, then must admit wrong loh, have to bail out fast lah. Not possible to lose 5X62¢ lah, unless Genting go turtle up! Probably a couple of dollars for the broker lah, Nick dun scare me lei!
aya...dont need to test test water...confirmed likely u will make loss with 5x @62cts....will go <60cts this week....hee....
By the way, can anyone advise me how the rights works out? is it that if he excercise the rights, he get to pay 60¢ and can sell into the mkt at 62¢? If that's the case, why pity them when they can profit from the rights!
aiya, stock mkt very unpredictable one. One turn only you see stock fly away, or another turn you can get the stock cheaper. at 62¢, I think I have not lost yet...lol. see tomorrow lah. mayybe tomorrow 65¢ when opens...hehehe. Play small lah, woot big in this mkt sentiment not for us retail "investor" or should I say punter...hehehe! Cheers!
Waa idesa168,
I rather u treat us makan...5 lots also $$$ leh...
Pity those who exercie their rights...can buy cheaper in open market...
Well...some win, some lose.
lol...I think someone waiting at the side line with 1,092 lots waiting for me to woot my 5 lots and then he follows...lol! joking lah....have fun lah at this kinda selldown day. Cheers.
I went in 5 lots at 62¢...hehehe...small, small, test the water first. Ready to lost this 5 lots. Lets wait for opportunity to woot, think may not be today.
I think I will prefer to long this counter when all dust settled.
Shorting this counter ah?
Hmmm...I'll choose to go long using my CPF instead...
