Bulls saying to Bears "Catch me if you can"

Gainers led losers today as we see how our market turn against the bearish sentiment yesterday. Looks like the poor economic data and high oil price doesn't seem to affect sentiment too much. Am I overly cautious? The volume today is higher than that of yesterday. Not everyone is selling. Should I get real and get vested? Oil has retreated to US$59 ++ . Positive for our market for tomorrow's session. Cheong arh!

Progressive monitoring:

1) Noble: Buying interest remain, the hammer on weekly chart standing strong. Today it close up 2 cents.
2) MFS: Weekly chart sending uptrend signal, daily chart will be waiting for a down day to get vested via Force Index.
3) ChinaPetro: Using Alexander Elder's Triple screen trading system, this counter ought to be ommited as the weekly chart doesn't show "up" status.
4) Singpost: It is already in uptrend, I had missed the boat. The risk/reward is not in my favour. Not going to bother with it till it's next retracement.
5) Macquaire: No interest for now.
6) DataCraft: The hammer on the weekly looks good, but using my new system, this counter should have been invested earlier on. Now, risk/reward not in my favour.

I have been reading up on Alexander Elder's Triple Screen Trading System. This system has 3 stages as follows:

1. Shortlist only when the longer time frame is uptrend
2. Shortlist only when the shorter time frame is down
3. Trade only when (1) is up and (2) is down

I still need time to test if it works well, once i have more free time, I will create a list of counters which falls into the above 3 rules. Then we shall all withness if it works well. Watch out for them soon!

My previous Trading systems has been trying to tap on a current steep volume and price breakout. It is a super high risk trading strategy. Although target price is always 2 cents from the last close, it has no clear cut loss level. A trader who trades without a stop loss is like a formula 1 driver racing without brakes. Always consider risk/reward ratio.

Today my trading kakis had cash in their Cosco at handsome profit. E had vested since 0.91 and S had vested since 1.30. The selling price was 1.87 and 1.92 respectively for them. I really envy them. I could have joined them since we discuss and trade quite closely. Right from the start, we made contra losses and win some at times, but on the whole, our trading accounts are bleeding most of the time. When they decide to get vested in Cosco, I was still living my "I am a savvy trader" dream. Hence I did not join in. I tried to get vested during the CAO fiasco, but the sentiment was so bad that COSCO was sold down from 1.16 to 0.970 if I remembered correctly. I got scared and did not touch it. Time flies past and after my many trades, E & S are seeing their trading account back to black while mine is still in red. Getting vested in Cosco had turn their fortunes around.