As for Zhonguo powerplus, i remember someone shouted breakout on Wednesday, too bad i was busy with work and couldn't reply. This is another example of how blueline really works. I had stated that resistance is at 0.370, we need to break that inorder to see another rally in this stock. Hence it was no buy signal in my trading system. After the 0.355 closing on Wednesday we saw how Zhonguo powerplus retraced.
GrowMoney QuickPick
I will buy once they break the line of least resistance. My plan is simple, sit on it and ride the profits, if next day comes hesistation of not moving up or i detect the slightest selling, i will just cut my position.
Stock: Line of least resistance
Labroy: 1.55
BioTreat: 1.28
AllGreen: 1.60
ChinaWheel: 0.440
United Industrial Corp: 1.41
K1 Ventur: 0.445
CGTech: 0.420
AsiaPharm: 0.840
Thomson Medical: 0.395
AIM: 0.380
Sembkim, MediaRing, Tat Hong, Midas, Chinasun Bio....graduates of blueline! :D
SGX: Even a buy at the breakout $4.00 will still give you profit on Friday. No one expects the heavy selling. One thing i noticed, when the stock is flying high, no one was unhappy and everyone was rejoicing. But when the selling came, confusion was everywhere and people started to question should they hold or sell. That to me is losing control. Before i go into any trades, i have sell rules. Hence when something like that happens, i will be in control.
ChinaPaper: This stock has many people calling for my head. Although i'm away but i have "ears" telling me what happened when i was away! haha Alright, to be serious, this stock has never broken it's blueline and hence no buy signal at all! Hence no way would i have lost money on this stock. Anyway, when you see heavy selling out of the blue and company claimed nothing they knew about it, time to be careful. Remember CAO back in 2004? :P
Everyone wondered where did Decipher disappeared to last Thursday and Friday....well...i was away to a beautiful island called Redang! haha When ChinaPaper and SGX rocked the market, i was undisturbed and resting my tired mind and body at a far away place. keke There...the idlic lifestyle of 2 days though short but proves to be just what i needed! I returned refreshed & full of ideas and raring to go! This is one of my ways to handle stress and look at my life from out of Singapore. Get the bigger picture and then know what to do. Just like a stock, I ALWAYS look at the weekly chart which shows the bigger picture before i look at the daily chart. :D
I have finished collecting my experience into words form and will be sending out a free E-book to my yahoo group and then a very detailed Trading E-book which will be sold via my website. I hope you guys will support me hor. :D More details will be out later...now i need to arrange the passages...
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.
