Thursday

Contra gain during ex-date of renounceable rights issues

Based on my trading experienced, for those who is a contra player which means interested to purchased shares from morning and sell within a day.
If you're the contra player which I mentioned above then you need to choose shares which have renounceable rights issues. You need to know when is their ex-date for renounceable rights issues.
If you know about company ex-date for renounceable rights issues then you can purchase early in the moring during their ex-date and sell it within a day after you make profit.
For real example,
UEMLAND (counter code:5148) share price is up from RM 1.41(opening price) to
RM 1.54 (the highest today)

Rights issue will be going to be ex-date soon as below:
a) SUCCESS (counter code: 7207) ex-date: 12/04/2010

b) INNO (counter code:6262) ex-date: 12/04/2010

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