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?

Was the Seller the Mysterious Buyer Now?

Remote Signals to Sell and contribute?

Remember that counter, Berjaya Retail?

It had to be taken private again after listing which benefited only the investment banks.

Vincent lost out in cash but his goodwill with certain parties remained.

I think we are seeing de javu replayed in the case of Astro.

Let me spin an urban legend here.

I think the mysterious buyer is the offeror who has been selling down his stock perhaps on some imperial directive.

A possibility - to build up a war-chest for the impending general elections.

As there are REALLY, really very little retailers who got the shares from the IPO, I do not believe they actually sold except for a few jittery ones who were coaxed by the market to sell; and those with high risk appetite that sold to buy back at a lower price to make profit in this manner. Not many here as well.

Employees of Astro? Very remote. Most will want to hold the stock.

So, the only possible conclusion-the offeror oversold and shorties blew it all the way down the chute.

This was compounded by cornerstone investors who may have sold on disgust. No, thanks to the authorities which approved the over-rich valuation for the IPO!

I think a selling plateau is forming as buyers are coming in to buy when the stock is cheaper by 10%.

Time for a rebound and win!

I think Astro should find traction in a few days time and we may find a rebound in the works.

The Frozen Secret of Melody

The Golden Couple of Shaw Brothers

It must have been a painful episode in the life of songbird Jenny Tseng after the automobile accident that saw her husband dead.

Life in the fast-lane monied people must be all wine, song and roses.

http://youtu.be/RNQ_XP60s5s

That this movie-dom couple could even think of preserving Fu Sheng’s sperm in a sperm bank was just beyond the mined-sets of the local Hong-Kong folk then.

http://youtu.be/RNQ_XP60s5s

So, today on a television show, Jenny let the secret out of the bag that she has kept hidden for 25 long years. The sperm belongs to her departed Alexander Fu-sheng which was impregnated into her 4 years after his death.

For Jenny, I think she has found peace at last and for Melody, she can finally hold her head up high now that the controversy of the mysterious father has now been settled.

High Living and Frozen Sperm

 Question is, why now?

As Usual, Do you trust the IPO Authorities?

Making Your Life miserable

This is one more perspective on why Astro shares dived.

Astro Malaysia Holdings Bhd, whose share price has come under selling pressure over the past two days, saw a block of 250,000 shares crossed sharply higher than the market price on Tuesday today 23 October).

Stock market data showed the shares were transacted at RM3.05, which was 28 sen or 10.1% above Monday's closing price of RM2.77.

At midday, the pay-TV operator's share was down four sen to RM2.73. There were 47.78 million shares done.

However, the share price has fallen below the offer price over the past two day on perceived high valuations.

Star Biz reported on Tuesday Astro's sell-down could have been driven by cornerstone investors dumping shares as they were not subjected to any lock-up period.

The report quoted Aberdeen Asset Management Sdn Bhd managing director Gerald Ambrose as saying the rules for the major pay-TV operator's listing had been somewhat "perverted", allowing cornerstone investors to cash out earlier than the usual moratorium period of a few months.

"The rules have been tweaked (for this IPO). The cornerstone investors were allowed to dispose of their shares unlike in the IHH Healthcare and Gas Malaysia listings," he said.

Ambrose believed the issue of Astro not setting aside shares for retail investors as well as the high price could dampen market interest.

I am dumb-struck by Ambrose's comments.

Why should cornerstone investors sell at a loss?

Why buy the shares in the first place if you think the valuation are too rich?

Poor Amanah Saham unitholders as PNB has taken a loss of 10% now and so has the Universities Superannuation Fund!

Or were they the ones who sold at a minimalist profit to a third party to hold the "hot-brick"?

I smell a rat.

Bad, bad irresponsible authorities, whoever you may be......