Sunday, July 17, 2005

Worries unfounded?

Analysts had warned of global economy slowdown in 2005. Being an amateur in the financial market and not to mention my trading losses, I grew scared about puting my money in the market. I thought bear market coming. STI flying high and following a report that this year will be range bound at 2100 to 2200 begining of the year, I tried to trade cautiously passing up lots of opportunities. Look what had happened this months? Strong sets of Economic data keep flowing into the market pushing the index higher. I learnt to take analysts' words with a pinch of salt. We must do our own analysis. Have you seen "kelong" reports? Where prices move up alot before the positive report is released into the market? I leave it to you to figure this one out less that I get sued. keke

Vol 979.8M ; Val 887.0M
Rise 202 ; Fall 272

Our market closed mixed on Friday amidst profit taking. It is the second day in a row where gainers and losers are trading closely. Looking back, the market has moved up alot to where it is today and infact has touched a new high in 3 yrs last week with heavy volume. Don't be surprised by any retracement. Oil price hit highs again. But our market continues to ignore it. The target of US$80 per barrel has factored in the price? My mistake was to predict what will happen, now i simply follow the trend.

Flashback! Allow me to "hao lian" (proud) abit.....I said to stay clear people's food in my old post...look! it came true! keke

Decipher Gems! Tiong Woon has been removed from my list because of illiquidity. Unifiber continues to be a mystery to me. Last few sessions suggesting consolidation in progress. This is my only cash trade among my Gems...doing well in this trade will certainly boost my confidence. Anonymous has correctly said that one of the reasons my Gems is performing well due to current bullish market sentiment. I agree. Hence I spent sometime scrolling back to June where I first blog seriously. I had no gems back then althought market is moving already. I even started a chart request on the left to kill boredom. I think my trading system filter counters that are in uptrends only. If you click on my picture, you will be able to read about my trading system. So if it's a bearish market, i'm sure my trading system will not pick up any "lobangs" (opportunities). However we can always open a SBL account and go short instead! hehe

I'm trying to get a site search to work on my blog so that we can search for old postings on counter's charts that has been posted. You can scroll all the way down to try.