After my daily sentiment scans, I conclude that the selling today is infact good for a rally. Why? It's because more counters with better volume incline than declined. It tells me that buyers are still keen. With an intra day low of -13, we close -6 ..... there were some late bargain hunting. Also let's not forget SPH's Ex-D could impact the index abit.
Chartered Semi Con - I sold Chartered at 1.32 today. My reasons were, it is floating at highs and failed to clear 1.34 after numerous attempts and the volume has became thin. My thoughts were, buyers could be exhausted and selling can begin for normal corrections bearing in mind, the last selling was at 1.18 thereabouts. Also, I anticipated market to close above resistance today and tomorrow. However it closes down today. My anticipation is wrong. So I decided to protect my profit on Chartered as tech stocks are volatile. I wouldn't rule out more upside for chartered, but i'm sticking to my trading system rather than pure gut feel. Indeed, the $0.14 profit is decent enough for me to say Thank you, see you again to Chartered! haha I am still holding on to other stocks as I see resilence in the market. Registered my second back to back win after DBS. : ) Cheers! Few months back my blog is more on how not to lose money. This time round I can confidently say, it's now really on how to grow money! :D
