Profit Taking on KLSE

Technorati Tags : klse, kumpulan hartanah selangor berhad, liqua, melati, salcon, sapuracrest

I took some profit from Salcon today. As written earlier, I bought the counter at 1.15 on July 25. Sold them all at 1.42. Feels like the counter is slightly over-bought at that level. Looking for some rotational play in the coming trading days in view of the bullishness of water themed stocks.

I'm still holding on Melati Ehsan. Bought at 1.65 but the closing price today was at 1.57. The weakness was much due to the weak market sentiment on last Friday and Monday. Will monitor this closely as I would cut loss at 1.50

On a separate note, I bought a few lots of Liqua yesterday at 0.625. Apparently some hot news expected soon. I also nibbled on SapuraCrest to take advantage of the market weakness at 1.40 last Friday. I think with Seadrill keep on increasing its stake in this baby, one can never go wrong. The stock closed at 1.54 today and my take profit level is set at 1.60-1.65.

I am quite bullish on the Selangor state government counters. With the election coming up, the government linked counters would normally receive a boost in its share prices. Took a punt on KHSB (Kumpulan Hartanah Selangor Berhad) at 1.16. However, these counters are purely for trading and momentum play and I should be out by next week. The intraday chart is appended below:

Other holdings remained status quo. Please refer to my previous posting on the list of counters I'm currently holding here: CURRENT HOLDINGS

Good luck guys. Hope the info above is useful for us to make some decent return from the market.

Signing off at 9.50 p.m.