Between March 18 and April 11 he sold 44.08 million shares of VS Ind. His 8.8% stake before the disposal was 93.50 million shares. After the disposal, he still has 49.42 million shares.
The thing that puzzled me is that on 23 February he published and article telling his followers that he is buying VS. The price then is about Rm 1.30. Click 'VS Industry is a good buy' for the article. And then he started selling 47% of his stake at an average price of Rm 1.25 and below.
Why? Is it 'forced selling' due to margin call? Or is it an arranged 'passing over' of 44.08 millions share to another party through open market trading?
On last Friday, May 6, he published another article telling people that he is buying back VS at Rm 1.21 to 1.22. Click 'Why I am starting to buy back VS' for the article.
I just wonder whether he is a long-term investor or is just another speculator, a big one.
Looking at the 20-Year chart, VS was unable to complete the fifth wave of its wave C due to strong upward momentum (due to buying by Koon?). This failure C wave marked the end of VS's mega wave (2). The wave from 25 sens in September 2013 to Rm 1.68 in December 2015 can either be the mega wave (3) or the major wave 1 of its mega wave (3).
If Rm 1.68 is the end of mega wave (3), then VS is going to take another 4 to 5 years moving side-way to complete its corrective mega wave (4).
But if Rm 1.68 is only the end of the major wave 1 of its mega wave (3), then VS can be a very bullish stock. But I have no clue to the depth and duration of the current major wave 2 correction. Is it forming a base at around Rm 1.20? or is this the wave a of 2 and wave c of 2 is going to drop to 80 sens? I don't know. May be Koon Yew Yin has some information that we do not know.
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