Bio Sensor, Bio-Treat and SembKim...remember these counters. I'm not trading them but I would like to see how far they can go amidst a cautious market. There was no way for me to pick up these buy signals from my charting skills. Looks like a long way to go for me. Bio-Treat broke it's $1 resistance. It continues to surge forward creating an incredible mood of exuberance. The move started at sub 60 cents levels. I anticipate the share price to retrace and test this $1 resistance. Perhaps then, it's a good entry for me. I could have bought today if not for the unclear sentiment towards oil price. I asked myself, what are my chances in picking a jewel amidst a storm compared to riding on one of the leaders in a bullish rally. Of course the latter is easier to win. The former would be more risk. The choice is mine. All the above 3 mentioned counters had reported good news. Bio-Treat and Sembkim had sky rocketed. Will Biosensor go ahead and test it's old high of 1.20? Having a small trading account, the odds are already stacked against me when i make the first bet. Brokerage will ensure that at least a 2 cents move would i be able to break even if I were to buy only 10 lots. Can these "jewels" make a run up of 10 cents? 20 cents? Nobody knows. But the probability is not high. The only thing I can do is, observe and learn swing trading. There will be a day when I am free to do swing trading. And when it comes, I am prepared.
Back to the oil price. Katrina's damage on refineries is not reported yet. We can see oil price climbing steadily threatening to break record levels. The risk is a damage to the refinery facilities that could take months to repair and thus sending the supply off the scale. And when that happens, economy growth will suffer! On the other hand, if Katrina blew over and refineries are back to work in a few days, we can buy cheap! Anyway, my futures account is now ready. I'm going to enter another different kind of ball game! :D Actually it's more like being ready to short Crude Oil when the oil bubble burst! This is a chance of a lifetime man!
