4 Gems Spotted!

If you are driving, you should have seen the petrol price war started again. 25% discount over the weekend for petrol! On Friday closing, oil price hit US$60 again. I think of high oil price as a cancerous tumour, if you dun remove it, it will slowly kill the bullish sentiment. A fellow forumer mentioned that, in summer, we are already seeing US$60 per barrel, when it comes to winter where consumption is expected to be high, it's a "no eyes see" for oil price.

I have been diligently reading T.A and trading psychology book over the weekend. I come out enriched! Am so very glad to understand T.A better. What are traditional chart patterns, what are oscillators and trend indicators. You do not use trend indicators on counters that are in trading range. To trade using oscillators, it will mean nimble hands where you will get out of the market as soon as it hit over buy. Over-staying kills! My current trading system is using trend indicator on the weekly chart followed by oscillators on the daily chart to pin point buying opportunities. Here's a look at what I have found! : ) Cut loss level is important! In the game of trading, money to us is oxygen to divers, we must manage it well inorder to survive!

1. SMT : 0.695 cut loss
2. hi-pi : 1.45 cut loss
3. unifiber : 0.375 cut loss
4. ST-eng : 2.41 cut loss

Let's see how they perform for the week! I resolve to continue to finetune my chart reading my combining traditional chart patterns + candlesticks + western indicators!