definitely i agree with your first point. when market reach to lower point lot people will collect. but as a result of that if market went up , they will stop and stand still. they will never try to market bring down.@Mr. X wrote:@xhunter wrote:you bring up an interesting point. it is "Whoever support yesterday was not here today".@madukp wrote:The market couldn't keep the positive momentum. There was no support against selling. Whoever support yesterday was not here today. And still, LOLC is one of the market mover and shaker, then DP's shares following the pattern. This swinging seems to be happening a few times. In the end, hopefully, the overall market will be turning to an uptrend according to my point of view. Hopefully this time 7000 will act as a good support level.
what do you think?
is it foreign retailers buying? No
is it foreign institutional/fund buying? No
is it local institutional/fund buying? No
is it local HNWIs buying ? maybe...... but not that probable... i don't know
is it local retailers ? Yes, most probably.
so why they didn't support today? probably they might have bipolar disorder ... i don't know.
actually this is same people who bought LOCL at 500/=,HAYC at 1600/= ,BIL at 7.20 , EXPO at 60/=, RCL at 420/= TILE,LWL,HEXP and few more.
their thinking pattern is very easy to understand. still they believe prices they bought is reasonable and they never accept share prices were pumped in January and dumped on them. they belive SEC/CSE messed up otherwise market could have reached ASPI 20000.
so what they do is , they wait and accumulate buying power and after few days they tired of waiting (3-4 days maximum), FB groups and twitter and whats app groups converge them to one direction using ideas like "kabral rally" , when they see a slight uptrend they start to buy the same set of shares again.
when they run out their fund, again you can see EXPO at 43/= HAYC at 90/= VONE at 44/= DIPD at 42/= (BIL and LOLC ,BRWN are driven by different set of people and some brokers ).
so now you can unlike this post because i mentioned shares EXPO,DIPD,HAYC,VONE etc....
so this is not about the future value, potential or their real value.
What i feel is totally different from your view... I feel the collectors (HNWI or any others) they start to collect once the market is low... 6850 to 7150 collection time from the bottom... once the market is recovering fast, they give a break or sell some at low to move the price down again and let the prices come down... again from bottom they will start collecting... this pattern happened 2 times successfully and 3rd pattern just started, i feel tomorrow it will further drop..
this trend will continue until other investors realize the true value and hold it...
just my view only...
there are lot of retailers like that, they have fixed price , once they collected, for the next cycle they will further lower their prices.
other retailers are different, they buy it when prices are started to move up. then their demand will further move it up they will still continue buying and they are happy about it and they even share there thought saying that "rally has just began" , "did you enjoy the show". once they are exhausted it will drop again. first type of retailers will wait until it reaches to their prices.
part of the second type of retailers will also sell , some selling's will be there because of they sell due to unavoidable reasons.
so it is cycle.
anyway i also should say that "just my view only..."