Thursday, June 23, 2005

STI Rocked!

STI touched the sky even with poor economic data and higher oil price. I am puzzled! Are we well poised for a big retracement? But recent drops in STI has been without volume and instead, the gains has better volume. Market is really more unpredictable than women! haha

Here's tonight's homework. (Darn...if only i am this hardworking during my school days! ha! It's been 1 hour everynight for the past year already!)

  1. Singpost has a shooting star! Watch out! This shooting star has a bigger volume, however need a bear candle tomorrow to confirm.
  2. Heng ah! I cut my Macquaire Reits early at 1.18. The closing today is a whopping 1.14! Beware man, it's a big black candle!
  3. DataCraft has a reverse Head & Shoulder forming. This one, worth to keep in watchlist!
  4. Comfortdelgro on the weekly chart seems like bullish ascending triangle forming. Current closing today is on the support line. A doji or a bullish candle tomorrow will be good!

How about yesterday's results? It's a mixed results. But it's enough to stop me from punting in future! Given such a good day in SGX, the results sucks! I better stop dreaming and get my feet on the ground!

Stats Chippac: 1.19 ; target 1.22 <== Spot on!

Starhub: 1.700 ; 1.72 <== closed at 1.70

Sarin: 0.400 ; 0.410 <== closed at 0.400

Pearl Energy: 1.65 ; target 1.70 <== closed at 1.60 WRONG!

Labroy Marine: 0.770 ; target 0.780 <== closed at 0.755 WRONG!

Interra: 0.335 ; target 0.370 <== closed at 0.325 WRONG!

Trading is such an emotional roller coaster. Just 2 weeks ago, I was gloating over how my formula worked wonders for me. Now, I'm licking my wounds. Tomorrow has to cut my Sunpower and suffer yet another blow to my ego and pocket. Unless of course miracle happen and push Sunpower all the way up, which is wishful thinking on my part. haha!

You don't hope in a stock market. It will kill you! You have to cut when you have to cut. Be a man, be responsible for your own judgement!