21May2013 What a day ! 6 Limit Down & 2 Limit Up !

Well, I didnt see this before, imagine during the last 10 minutes, a huge fund throw in substantial amount of shares to 6 good FA stocks and cause them limit down or near limit down. This is really worth to record down in my blog and I really witness one of them moving drastically (Coastal).

DOWN !!!
Coastal : Close at 1.48, -RM0.62 send (-29.5%)
CBIP :  Close at 1.93, -RM0.82 (-29.8%)
TDM : Close at 2.90, -RM 1.24 (-30%)
BKawan : Close at 13.46 , -RM5.76 (-30%)
HSPlant : Close at 1.89, -RM0.81 (-30%)
BJToto : Close at 3.20, -RM1.01 (-24%)

UP !!!
JCY : Close at 0.90, +RM0.24 (+36.4%)
Star : Close at 3.71, +RM0.85 (+29.7%)

I would say those who queue a few bid low during 4.44pm for the above Limit Down counter, suddenly able get at a very cheap price and gain heavily on monday, like striking lottery. I would believe that these counters would go back at least near to her 21May 4.44 pm prices .

On the other hand, if you were queueing at the seller price at 4.44 pm, you already immediately strike a 30% lottery and got to sold at the limit up price. Let say, you were queueing JCY to sell at RM0,70, suddenly you get another RM0.20 free due to the 5 minutes matching to close at RM0.90. What a gain !!!

Coastal ( I was lucky to view this irratic movements)
At 4.44pm, she was still trading at buyer 2.16, seller 2.17, and last done at 2.17, suddenly during 4.45pm to 4.50pm, the matching was vigorous, price fluctuating on the matching price, she was going to match at 1.47, I able to queue some at 1.47, but last minute, she changes to 1.48, and I miss the queue, really luck is not on my side. Imagine 2.17 to 1.48, all in all she was hammer down RM0.69 in that 5 minutes time. A 2 year all time low. Lets see all 6 of them will be back to their rightful price in Monday.

And this is what The Stars news commented.

Bursa: Trades ‘valid and genuine’

By CHOONG EN HAN
han@thestar.com.my

PETALING JAYA: The seemingly unusual market activity that saw sharp price gyrations in several stocks in the final 10 minutes of trading yesterday was valid and genuine, according to Bursa Malaysia.

Six counters from mid-caps to big ones, namely, Hap Seng Plantations Holdings Bhd, Batu Kawan Bhd, TDM Bhd, CB Industrial Product Holding Bhd (CBIP), Coastal Contracts Bhd and Berjaya Sports Toto Bhd, hit limit-down, or a 30% plunge, with a combined trade of RM43.1mil in that short time window during pre-close.

While the trading pattern may seem like an “error in trading” could have taken place, a Bursa Malaysia representative when contacted byStarBizWeek clarified: “With regards to the eight stocks which hit their limits-up (two) and down (six), Bursa Malaysia has investigated the matter and has confirmed with the broker that the basket order, which was from their institutional client, was valid and genuine.”

In yesterday's trade, Hap Seng shed 81 sen to RM1.89, Batu Kawan lost RM5.76 to RM13.46, TDM declined RM1.24 to RM2.90, CBIP decreased 82 sen to RM1.93, Coastal Contracts was down 62 sen to RM1.48, andBerjaya Sports Toto fell RM1.01 to RM3.20.

At the other end of the spectrum, JCY International Bhd gained 24 sen, or 36%, to 90 sen and Star Publications (M) Bhd shot up 85 sen, or 29%, to RM3.71.

In the broader market, the FBM KLCI shed 6.49 points, or 0.37%, to 1,755.85 points, with 306 gainers, 512 losers, and 267 counters unchanged.

Over 2.05 billion shares valued at RM3.78bil were traded.