"SEE!!! GENTING IS STILL BULLISH!! DON'T WORRY! $5 IS COMING! BUYYYYYYYY!!!!!!"
The bear trap has been set. The evil market makers grinned as they continue to distribute their rubbish while watching them being snapped up like hotcakes.
"Yes, so cheap! Buy more!"
"The house will always earn!"
"Genting will go back to $1! Buy now to sell at $1! Brainless profits!"
"Average down! This is for the long term!"
Ah... "Investors" and "speculators" alike are still so bullish on Genting. The evil market makers smile to themselves. By driving the share price to $1.30 earlier, 90 cents seems relatively cheap to the common investor..... Perceptions are indeed subjective...
Yet... Those trained in TA would see failed retest of the 200MA at 98 cents. Those trained in FA would shake their heads at the 12 billion floating shares in the market. Even a monthly S$40mil profit after tax would value Genting at 60 cents with P/E ratio of 15. But would Genting be able to make at least S$1mil profit a day?
And the killing machine continues to roll down mercilessly. 1, 2, 3, PUSH! Back to 90 cents Genting went, and below! The 90 cents barrier has been broken, with many new "investors" having bought between 90 cents to 98 cents!
Relentlessly, another PUSH! 86.5 cents. More bought in. And yet another PUSH! 84 cents! No point giving a second chance to the new volunteers, the evil market makers reasoned. They raised their beer mugs and clinked. Cheers!
The killing machine has just started rolling with many left in its wake. It will not be stopped so fast.