Monday, March 13, 2006

Trading a bullish stock market

As anticipated, the bullish sentiment spilled over from US market and Japan market. Although the market rallies, I am not part of it!!! haha Yes, those who knew, my stocks remained under consolidation. Consolidation? or is it reversal? A little debate has started this morning in the shoutbox. Defend as i might but i cannot deny that i should have cut at my cut loss level. The reason i held on was because the volume of the decline is very light. Many suggest that this can lead to a slow death. My initial plan was to ride out this consolidation zone and stop trading. How wrong can i be! If I do that, i will be repeating my loser mentality of 2004-2005 where i stubbornly held HG-Metal despite kind advices from trading veterans. I snapped out of it and started trading once again. I continue to see my quickpick provides very good trading opportunities at times. As a trader, i cannot stop trading. Otherwise my trading system will fail. Trading system should be followed consistently because while it cannot guarantees you to win everytime, it does increase your odds over time. Every loss will be made up by wins. If you sit on losses and refuse to trade, you can't win. You can't win, no profits.

Chips sector came out in my sentiment analysis. Time to load up? Read on!

GrowMoney QuickPick

UTAC: Look out for a chance to re-enter.

Tech,Oil & Gas: This was in my quickpick list last week. Decipher's blueline theory works it's magic again.

SGX: Caught everyone by surprise.

MFS: Decipher's Blueline Theory

China Diary: Bearish Reversal pattern.

Chartered: 1.49 key resistance

Beyonics: HDD sector looks good. Bullish reversal pattern spotted confirmed with indicators. Watch on.

Beauty China : Although technically looks fine...the overall market sentiment on china stocks should be considered.

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.