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| Singing big bucks for BJF Rights |
For YTL, the disinterest was deafening though volume continue to be there on a slowly falling price pattern.
We all know from hind-sight how YTL went up on ex;possibly spun by Treasury buy-ins. Those who held on to their shares laughed and guffawed as they were in the money with 137 shares to boot from the Treasury in-specie distribution and a 20 sen offer of YTL Power warrants currently in the pipe-line for restricted sale.
Today is 2 days before 12 July-the ex-all day for that ubiquitous beverage food counter, BJF. As far as effective trading hours, there is 4 hours left today and tomorrow will be the last day with its last 7 trading hours.
Let us observe what is happening at the Kenny Rogers-Starbucks counter.
The morning trading session has ended .Here is the status.
The buyer bid is RM1.37 while the seller bid is RM1.38. The last deal done was at RM1.37 with 951 lots done. The number of lots in demand at RM1.37 is 60 lots while selling lots numbered only 45. The gain is 3 sen currently. The lowest price done is RM1.33 while the highest is the current price of RM1.37. Will it hoppity hop up in these ensuing trading hours?
My layman judgement?
Fair volume;fair price and fair game.
If you think you can hightail off the ex-all by taking a calculated risk on this counter to play the game again at a new low of 65 sen per share,then you may yet be the winner. "For tomorrow is another day", so says Scarlett O'hara; and at 65 sen,there is little downside to worry really on this newly re-rated counter when Starbucks pumped its RM4.5 million net profit into BJF's revenue sheets this September when the deal is expected to be done. Signed,sealed and fully delivered with coleslaw and mash potato on the side. Also you can listen to Kenny Roger singing 'Lucille' as you hum along.....
If BJF sprout wings to fly at these last hours of trading, you could be in the money on all mother shares.
Let us assume it flew to RM1.41 ex-all by 12 July, it means you can get off scot-free with all your investments on mother shares intact.
For those with low-risk appetite, my advice is throw them all out then.
For those with a 50% risk appetite, throw 50% off-lah. You lose potential winnings but you earn the right then to average down on poor market days.
For those with that devil-may-care attitude, ride the high wind and take in any premiums; mother-share,rights issue and warrants. Play both ends,so they say.
You may just be that winner and laugh al lthe way to the banco!
Maybe it is too early even to smile broadly,but BJF has melonjak to to RM1.44 before settling down at RM1.41 for a 7 sen gain.
Wow! Scarlett, you are a real prophet of cash! Wait for tomorrow...leh!
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