I continue to test and found that my breakout of 52 weeks high strategy is working pretty well. Growmoney blog is never intended to be a tips blog and instead all along i wanted to share my observations. I hope you can take this strategy away with you and explore. Hopefully all growmoney members tua tua huat and maybe one day we can throw a dinner to celebrate massive profits!
As i began to trade the US options market, i was pretty nervous as i will be pitted against the big liquid market of wall street! Wow! After reading so many books talking about Wall Street and now finally i'm trading there. It's like representing the Lions at Kallang stadium back in the Malaysia Cup days, a fantasy after growing up watching the tournament. Or going to the worldcup in that seriousness. I started slowly and dare not be too aggressive, so far i have traded 2 stocks options and an option on Nasdaq index. With regional and European market looking strong, my first venture into Wall Street can begin on a winning note. However i must not get complacent, it's a relatively new market and i'm still not used to it. Unlike Singapore market where i can confidently point out the kelong stocks to avoid and which strong counters to look at. Patience!
MediaRing: A chart plotted in Nov'05, then from the weekly chart i visualised a cup base forming.
MediaRing a stock i bought back on Friday( I sold at 0.295) upon closing after i saw and like the weekly chart. The point to note here is looking at longer time frame chart can help you determine the direction of the stock. I did not know about the acquisition on PacNet nor the spectacular 1027% jump in earnings which justify the many call of a turn around company. Looks like we are in for a real exciting time tomorrow. Many asked if the news is good. I would say it's a very good piece of FA news but it may not be tradable. I am now contemplating to use FA to be an investor in MediaRing. This is what i always hoped....to time my buy into a good FA play. Well it's still early to tell how the market will take the news tomorrow.
Ferro China: Another blueline theory candidate. This theory really worth a deeper research!
Ascott: The high goes higher. Checkout my blue line theory (Actually it's breakout, but i shall term it blueline theory)
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.
