Monday, January 21, 2013

Bought more Redtone - 21 January 2013

It's been a long while since we last saw a steep dive in KLCI.  It was very unfortunate for me to make a purchase right before the huge dive.  News media are reporting that the huge dive is mainly caused by uncertainty in the coming general election, which is slated to be around Feb or Mar.

Seeing the huge discount in some of the counters in my watchlist, I decided to top up Redtone @ 0.40.  This is the time which many have been waiting for.

I will continue to collect more in phases if market continue to drop.  Based on historical data, one may be looking at a correction of 10-15% from the high of 1700.

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