Wednesday, August 03, 2005

Deflated once again.

Confidence was sky high when i picked 2 stocks correctly back to back. However I came crashing back to planet earth when Rotary triggered my stop loss with a hefty volume. I decided to just cut and f**k it. No more hoping and mis leading myself that it will rebound. Winners do not babysit on paper losses. They cut when their analysis goes wrong. i'm left with HoBee. This one is far far away from my buy price. Will my stop loss again be triggered?

I had an interesting chat with "Innocent By stander" in the chat window on top. I thought it was more than coincidence that the way he described his strategy which is very similar to what i am going to do.

1) Follow general market sentiment and trend
2) Study the market leaders and leading sector closely
3) Using Chart to find best entry and exit.

I think i can manage number (3) and fairly good enough for (1) but i am a bit clueless about (2). I closed my eyes and travel back in time over the last 15 mths....counters such as Semb Marine, Cosco, Keppel Corp and SPC comes to my head first. A quick check.....yes...they are really the top leaders over the last 1 year. Or am i wrong? People! Inorder to grow rich together, we must find the correct sector and the correct leading stocks. Please contribute if you know ok?

As for the general market today. It stormed upwards most part of the day only to close lower in the afternoon on profit taking. Most of the people are still jittery about retracements. I think oil also played a part. It is now about US$62. Hmm....if only Steel prices move up again. :)

Rotary: Cut Loss activated

Keppel TT for quickie

Notice the long bar on the big lot sell down? That's what made me cut

Full Apex

Ho Bee....don't become Hay Bee pls!