trying to figure out the science and art of trading and investing

an exchange of trading and investing knowledge. the various postings in this blog are based on my personal opinion only and do not constitute as investment advice. The blog owner shall not be liable for any losses incurred by visitors who take investment action based on the postings.

Thursday, August 31, 2006

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.

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