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Monday, July 27, 2009

Hai Leck Plunged as Expected

I managed to sell off Hai Leck shares at intraday high of $0.265 per piece on Aug 23. The sell off was made possible after an unusually high volume and an increase of almost 50 per cent over a month's period. The high volume was due to a married deal. I see the rally not sustainable and is not based on fundamentals.

As expected, Hai Leck plunged more than 14 per cent today to close at S$0.215. Those who have bought it higher than S$0.215 may need some time before they can breakeven.

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Do provide your constructive comment. I appreciate that.

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