Annjoo. 70% profit

I still remember i wrote about Annjoo when i first started www.cathoon.blogspot.com. Ya, it was months ago. I posted it on 6 Feb 2009. Here is the link to that post http://cathoon.blogspot.com/2009/02/limited-downside.html

To help everyone recap it, i talked about stocks that with limited downside. They were WCT, Resorts (Genm), Genting, Annjoo and Bursa. I bought all these stocks expect WCT. During that time (Feb), they were all moving side way. Even though our god-blessed rally still had not started, but that time i really did think that the bottom had passed.

To be on a safer side, i started accumulating stock that with limited downside during Feb 2009 . I even got my share margin facility from a bank.

"Rule No. 1 : Never lose money.
Rule No. 2 : Never forget rule No. 1"
Warren Buffett

Beside with limited downside, there were a few reasons which prompted me to buy Annjoo. As you can see, Annjoo dropped from RM4.18 on 14 May 2009 to just RM1.10 when i bought it on 24 Feb 2009. How many precent did Annjoo drop?! Listen carefully, Annjoo dropped 75%. Incredible! The other reason was during that time, construction sector had rebounded but building material industry still HAD NOT. Common sense, construction needs steel. And of course, Annjoo (construction sector) would benefit from our government first stimulus plan.

I sold all my Annjoo shares on 8 July 2009. I make 70% profit from this. I still like Annjoo very much. It is fundamentally strong and the worst is over for steel company. Annjoo will gain benefit too if our government were to plan our 3rd stimulus plan. The reason i sold all my Annjoo shares was because Annjoo did not dropped much in last June compared to other stocks in my portfolio, in fact, it was moving side way. So, i sold Annjoo for other stocks that were severely punish in last June.

Current,I am testing Annjoo-wb too.

Ok, good luck in your trading! Nice to have the bull back again.