The portfolio had undergone quite some changes since the last update. PELIKAN which was bought on 20/7/2006 continued its upwards trend and was in the money soon. However, once it reached its resistance at RM3.20, it failed to break through again. The volume also shrunk. On the chart, it looks like forming a 'double top'. So our acting managing director decided to sell it for a chicken-feed profit, about 5.25%, not too bad actually.

The cash rich portfolio purchased BKAWAN, SCICOM and KOSSAN on 3/8/2006, 7/8/2006 and 7/8/2006 respectively. All intended for medium to long term holding, at least initially.

However, sensing that the market is wanting a correction badly, FEAR began to creep in. Seeing that both SCICOM and KOSSAN's price movement showing a weakness, our acting managing director sold them, again for a small profit.

MAYBULK is another story: the stock made a nice rally, with both price and volume breakout on 8/8/2006. The next morning, again, weakness in upwards movement was sensed. So, our acting managing director decided to take profit. 11.7%, not too bad. But that didn't stop our acting managing director from banging his head when the buying interest surged on that afternoon and pushed the price to RM2.40, which is the immediate resistance level, before closing at RM2.37. MAYBULK failed to break RM2.40 again on 10/8/2006, with slightly contracted volume. (The price reached RM2.42 very briefly in the morning, but retraced soon after that).

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