Is Astro out of the ICU?

Suffering under Scheming Sellers

This morning there was some broad buying at the RM 2.74 and RM 2.75 levels.

All the others are some retail buying, picking small lots here and there.

Though, Astro has yet to develop a sustainable buyer base, it looks like the selling tsunami might just be over and Astro employees holding their house stock can breathe more easily; no thanks to Ananda Krishnan for sure as much as he is still their boss!

For those who got royally screwed by the authorities irresponsibly by giving this IPO a rich valuation,hopefully you will think twice before going into another  'cheaty' Malaysian IPO.

To tell you the truth, I got screwed royally in UOA Development, EITA, Eversendai and now this rubbishy Astro stock.

Bursa KL and Securities Commision, bangunlah! Benchmark yourself as a leading custodian of the market!

All these super-rich valuations shows how off the mark you people are! Tada bacakah?

Will today be the moving target up beyond IPO price?

Currently, the stock is trading above the psychological level of RM 2.80.

It is slowly climbing to the RM 2.82 level.

By lunch time, Astro have climbed 12 sen to RM 2.84.

From the number of buyers, it looks like there could possibly be a shoulder forming to provide traction and take Astro out of the ICU from intravenous feeding.

At the closing, it was at RM 2.89, its highest price for the day.

Is someone setting a benchmark for the next push beyond RM 3.00 before the Hari Raya Haji holidays?