I was struggling this afternoon at about 1230 pm whether to suggest any potential stock pick on Indonesian market
Reasons for my hesitation:
1) I’m not trading Jakarta stock since I don’t have an Indonesian brokering account. Moreover I only trade futures. Hence I don’t want to create the perception that since I’m not trading anyway, hence I can be relaxed in my posting. After all, I’m not going to lose any money from putting in these calls, which I find it rather unethical.
2) I have total blackout of how the stock is performing real time. Whatever data I have is EOD (End of Day data) from Chart Nexus.
I decided not to go ahead especially since I’m not aware of the opening price (OP).
Like the saying, market is always there but frankly to ask you to buy stocks tomorrow carry higher risk. After all, you are buying at a higher price tomorrow when you could have purchase your counter at OP + 1 bid.
Anyway my pick based on Diff:
Bank International: Good short if it opens below 415. Short only when it trades below OP by 1 bid.
Bank Negara: Good short if it opens below 1780. Short only when it trades below OP by 1 bid.
Darma Henwa: This counter looks like it is consolidating. Good long if it can closed above 205 on tomrrow’s trading. I suggest to just wait for tmr closing first. Those who are a bit more aggressive may want to consider to long this counter if it trades above 205.
Energi Mega: As per Darma Henwa. Looks like it is finding a support. But it would not be a long unless it closes above 355.
Just in case you may wonder why I didn’t pick those runners/winners today e.g. Aneka, Timah, etc. My reasoning: If the stock has already run, good chance that the big boys are in position and perhaps retail crowds are already in position, waiting to take profit. Of cos, the stock may carry on to move assuming the fundamentals are strong. Just that the risk to buy at higher price is higher.
Everyone knows to make $$$ in the market is to buy low and sell high or sell high and buy low. So isn’t it a good opportunity to buy stocks who are already in a downtrend. Of cos, I’m not a contrarion. I will only buy when the stocks is showing signs of recovery. Hence I shall pick those stocks that are on a downtrend and are finding a support based on Diff to long and those stocks that are on a uptrend and are finding a resistance to short.
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