4 posts or 16 days ago, dated 10 April entitled "Dumping Yoma - the perfect ecstasy moment?" , when Yoma was galloping on a tear to new historical highs of 62-63c, I dumped my Yoma , explaining that the set-up for dumping Yoma was almost perfect given the "positive " news flow and the "bullish" technicals, all carefully orchestrated or calibrated to suck the public into buying Yoma shares to support a good exit price for the Yoma operator to distribute or dump his shares - of course that was just my private hypothesis to guide my trading, not yours and I could be wrong in my hypothesis.
True to form, for the right or wrong assumptions/hypothesis, Yoma after hovering for 1.5 weeks of "distribution" between 60-63c( see chart below ) , gave way to a precipitous fall to 50.5c in the last few days.
Yesterday, I saw that the Yoma plunge had been quite ferocious for past 3 days and then brought down to a reasonable support or demand level .. I half expected the operator to find this level of 50c sweet enough to take or mark Yoma up a bit to facilitate further future dumping but was unwittingly distracted into punting what turns out to be a very weak Kepcorp bounce which to me portends of more bearish moves to come -see previous post : Kepcorp - a small punt for a v small bounce
This morning , i found it not too late, an opportune moment to partake in that "half " expected "mark-up" by the Yoma operator ... so i decided to take a chance to enter , considering that the risk -reward is in my favor.
However, being a total outsider , I was not very sure of the operator's exact true intentions for the medium term so I decided to only do a small quick intraday punt , in at 52c and out at 57c at which price and time I felt the price "mark up" has somewhat run out of steam for bearish reasons that I am at no liberty to discuss here or now but which we shall see being played out in next few weeks.
Side note: I saw that the price action on Kepcorp today was not to my expectations and realised I had made an error of judgement in not taking the dividend effect into account , so I dumped my kepcorp wrts bought yesterday , at 13.5c which is 0.1c above my buy price, just enough to pay for the brokerage fees.. feeling lucky to get out alive on this one.


Hi Bill,
ReplyDeleteI don't trade YOMA primarily because I have no platform to short the stock. However, I did some back-of-the-envelope estimates and I believe YOMA will visit $0.265 and then maybe even $0.13. Wonder if you have an opinion on these levels?