Magnecomp

Hi all, its been a long time since my post. Apparently, all of them got lost in cyberspace. As manually updating this blog is rather time consuming, i found out that it was possible to upload directly via email. It worked fine for a while and the damn thing just stopped working.

Ok, anyway. Back to Biz, magnecomp, not my favourite counter but i keep track cos my crony has it. This fellow shed more than 50% from it highs of $1.50. I would have gotten a heart attack when they announced their profit warning.

It seemed to have found the bottom at around $0.6xx cents. It has since come off its lows and drifted up to a trading range between $0.72 and $0.82. I detected some unusual movement on 29 Aug 2006 and alerted my crony immediately. After which, Ninja San issued a "hoot" and "hold" call. Today, the indicators confirm there could be a possible upside tomorrow.

If it opens high with volume, there could be a possible run. This is could be cyclical thing as Chip stocks have moved and now HDD related stocks are moving. Jurong Tech and MMI have made their moves.