Genting International 002

By Paul on April 17th, 2007

I think I am plain lucky to have posted the blog on my Genting counter the day before it shot up like a rocket.

I was worried about the slight downtrend for 2 weeks after I got the counter at 94 cents. Was wondering my speculation of a trigger either by the casino license or the go-ahead to start building would come soon enough to at least boost the price up. If either did not come soon, I would have been stuck to the shares with the resistance level below $1 for sometime. Well, i have no cause for concern because it will only be a matter of time. But then it’s the opportunity cost that irks me as i could have sunk in the capital in HLN, China Petro or Bakertech for short term as well. And of course, my forecast of an impending correction in May would further lock me in position for Genting and I would have no capital for bargain buys.

well… my short-term strategy now is to see whether Genting would soar to my target of $1.30 (dun ask me how i get the number. Just a ball-park figure for now). If TA suggests that a new resistance level has been set and prices have stablised, I will let it go before May comes. As for now, there’s a huge buying pressure due to a huge placement of ‘buy orders’ to further push the price even further.

Let’s enjoy the ride.

Passive Income for Life