M1 has triggered my cut loss level and hence we took a small loss on it. From 2.17 - 2.12, we cut a small 5 pips loss as the stock suddenly turned against our trade. I gave this M1 alert on Monday 2 days back and today the sellers just turned and came in because of a bad news. But well, the IEV Whatsapp alert would have cover this small loss. Looking forward the next one.
"ll Telcos are down today - because they paid massively for spectrum bidding but M1 affected most I guess because they paid high relative to their size of business.
All three existing telcos Singtel, StarHub and M1 and new telco TPG Telecom took part in the General Spectrum Auction, which concluded on Tuesday (April 4). All walked away with at least 10MHz worth of mobile spectrum.
Singtel paid the highest amount, $563.7 million, for 75MHz of spectrum, the largest block awarded. StarHub paid $349.6 million for 60MHz of spectrum, while M1 paid $208 million for 30MHz of spectrum. TPG, on the other hand, was awarded 10MHz of spectrum for $23.8 million."
Ronald K - Market Psychologist - A Stock Market Opportunist