The SGX market continue to edge higher amid plenty of corporate news! No respect at all for the high oil price. Exactly what happened last year! Soon the big massacre will come. Will it be on the 13th July as predicted through astrology? I be waiting to see.
Now I know why i lose money last year. I have been chasing shadows! I have noticed how Olam and MMI rose prior the release of positive corporate news. How on earth do those people seemingly know about the news and then buy before the announcement? When announcement is out, price will jump higher, innocent and naive people like me will jump in. But as soon as we get vested, those who bought prior to the annoucement will take profit and cause the share price to slide lower. Experts buy low and sell high. Novice will buy high and sell low. If we were to use Technical Analysis, we can pick up the buy signal together with those who knew the news. This reinforce my believe that Technical Analysis works. But if you have holding power like Mr Buffett, it's better to be a investor as you can sleep more peacefully. Though, less exciting. haha
My 4 gems,
SMT: bought 0.715; price now 0.720
Hi-pi: bought 1.45; price now 1.45
ST-Eng: bought 2.47; price now 2.51
Unifiber: bought 0.390; price now 0.385
All the above gems are still "up" on the weekly chart hence I stayed long. It's still a mixed performance. Let's see how it close on Friday.
Another darling.....SPH! shiok! This one i stay vested since last June! Today it upped 8 cents on a heavy volume! : )
I am going to cut HG Metal....very soon.....I have to bite the bullet and face the harsh reality.
