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Friday, March 5, 2010

The Genting Fairytale -- The Sequel

The killing machine has started its motors, and yet the fairytale continues. Genting bounced up from the 90 cents support towards 98 cents resistance in a technical rebound.

"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.

4 comments:

  1. Hi,

    Recently, Genting went from a high of $2.35 back to $2.11.

    So I guessed your analysis of Genting Fairytale still holds?

    ReplyDelete
  2. Yea it still holds =) I'm loading 50 lots of Genting. I will go to $3 once it reports its next earnings.

    ReplyDelete
  3. Hi Contestsinkie,

    all analysis are time sensitive. What is true in the past does not necessary hold true now or in the future. This applies to both TA and FA. I wouldn't say if it still holds because I have not been following Genting as my criteria and horizon has changed over time due to me being more sure of my goals in life now.

    Given a second chance back then, I still wouldn't load nor believe in Genting. It was still a speculative play at that point in time.




    Hi Anonymous (Dec 7),
    Hindsight is always 20/20.

    The key to this post is not just about Genting. The moral of the story is about not being too overly emotional, overly obsessed or overly optimistic.

    My friend's girlfriend loaded her entire life savings (6 figures I guess) into Genting at $0.90. How many did that? Just one single stock, and nothing else.

    Most people would probably baulk at that, or proclaim loudly at that point in time how risky or foolish it is. On hindsight, it doubled her networth.

    But is that strategy practical and always applicable?

    Think about it ;)

    ReplyDelete
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