Thursday, July 14, 2005

Bulls Beat Bears But Only Just!

It was a close finish today as the bulls narrowly beat the bears.

Vol 1036.8 M; Val 993.9 M
Rise 255; Fall 227

The volume is still heavy and the STI close up mainly because of the surge in Creative. Apple had released a strong set of results for Q3 and it's due mainly to strong sales in Ipod. I am really excited to see how Creative shares will perform tomorrow. On the international scene, oil price continues to slide and our trade partner USA's major indices are roaring accross the ocean. The rally ain't done's not done yet! :D

And once again my gems performed! This time it's is amid a rather mixed market. Hence I'm growing confident that my trading system is working well for me. However my first cash trade on Unifiber has yet to show result. I'm getting emotional here. The fear of it sliding southwards on the chart scares me. I have lost far too many times. So any trade that doesn't works well is scary to me. But as the saying goes, have a plan, trade a plan. I just have to trust my system. Many people has asked me to guess the direction of stocks. "Will it goes up or down?" I think from all my research in the past, the best answer I can offer is, "know how much you are going to lose in this trade". We can't guess 100% where is the price heading. But we can control how much we will lose. Money to trader is oxygen to divers, i will always remember that.

A fellow forummer brought up a very good reminder that National Day is coming. It's almost a tradition to have a rally before the National Day. We termed it the National Day Rally. I refered to my old blog (You can find it under links on the left) and found out that there was really a rally amidst high oil price! Just like now! Then, I was cautious and stayed out of the market. Now I should know better.

I had invited lots of traders from other forum here today. Welcome guys! I hope you enjoyed my article and hopefuly my Gems. :P Do share your experience or comments. Let's grow money together!