This is a subsidiary company of Genting and the darling of the stock market presently. Everyone is now talking about this counter. In the last few trading days, the stock shot up from 48c to 84.5 for a gain of 76%! The speed of the uptrend is incredible and too fast for comfort. People are now mesmerized by” the greater fool concept”. It does not matter how high I buy as I can always find a bigger fool than I to take over.
Once an uptrend starts, it can go up and up. But it can also reverse direction when you least expect it. If you wish to join the fun and ride the wave, don’t forget to use your stop-loss and a trailing stop-loss.
Be not the last to buy and the last to sell.
A fool’s paradise is only good for the time you keep on dreaming. Now is not the time to throw caution to the wind.
Best of luck.
Writer disclaims all liability for your perusal of his comments or advice.
2 comments:
Ben Gan, I found your advice most useful. I am a Novice in technical analysis. You advised readers to use stop-loss and trailing stops. Please let me know which Platform offers these features, cause the one I am using does not have them. It only has sell/buy orders
When you buy a share, it is advisable to decide how much you are prepared to lose. Lets say you buy a share at RM1 and you are only prepared to lose 10c. That means your stop-loss is at 90c. You have to inform your remiser about this and place an order to sell the stock when it drop to 90c.
A trailing stop-loss is one that you move up to protect your gain. As to where you want to place your stop-loss, you have to decide yourself. Generally speaking, it's about 8 to 10% below your purchase pice.Thanks for your question. Good Luck.
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