Today The Business Times Weekend published an article on Genting Singapore based on what happened during trading hours yesterday on the good results released for Genting on Thursday after market hours. I seldom read newspaper but since it was delivered to me, I thought I would just read for the sake of already knowing what had happened. The Business Times also reported on the recent STI performance where this week there was quite a number of stocks in takeover news like ARA Asset, Super Group and GLP. I also saw on the right column that RHB had a target price for Genting at 0.82 while DBS Research Group is keeping it's buy call with a target price of $0.91.
Now the point is everyone has different target price and different views based on technicals and fundamentals perspective but I strongly believe the most important aspect is to delve into the stock chart and see where the smart money is performing their collections before the COB and then the final gap up yesterday. That's what one of my student did and spotted the trade himself where he made $2600 in just 1 Contra day! Click and read below.
The stock market is not too much on technicals and fundamentals but rather what the smart money thinks, how they collect the scripts and when will they conduct a breakout for a particular stock. This is my personal opinion/view of the stock market and it has since then served me well for many years. Genting Singapore was good classical example and there are many more like Super Group where I first gave the collections alert on Oct 24th, 12.22pm to all my SOMM members. See the chart attached above, can you spot those collections before the privatization news at $1.30? That smart money movements to me has much more meaning and understanding than any other knowledge when it comes to the stock market.
image source: The Business Times Weekend
credits: R Sivanithy, Andrea Soh, Angela Tan
Ronald K - Market Psychologist - A Stock Market Opportunist