Monday, April 17, 2006

Stock Market on a roll

Alot of the stocks in my list had breakout of resistances. I prefer not to chase after them and just wait for the next chance to buy them. Buying after a breakout is contary to buying at support, you are buying at high and ought to be careful. Tonight's picklist has been filtered strictly scrutinised.

ChinaPetro became the talking point today. Outstanding! Unfortunately as it happened, i bought another stock instead!! Arggh! haha My stock is in profit hor for my critics...just that it is a pale shadow of ChinaPetro's performance. I am perturbed why did i not buy it. While Chinasun was missed because i was tied up with work. (Work should always come first!!) Chinapetro was there for the taking. It retraces after breaking the resistance and I thought it was a bad sign..when it recovers back to break the resistance I chose a cheaper stock that breaks it's resistance as well. See? Familiar? The bad habit of choosing a cheaper stock! But then again, i wouldn't be complaining if my cheaper stock rallies too! haha But really, this kind of things cannot be avoided so if it happens, so be it, i tell myself, i will get into another good stock soon! Just like in life, if you run got hit by a brick, be glad that you are not hit by a lorry. :D

Labroy again announced new contract but the share price doesn't reflect the good news. Again the whole sector is still waiting to explode....either upwards or downwards! keke

GrowMoney QuickPick
Stock: Line of least resistance
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.

CDW: 0.250
LongCheer: 1.11
CGTech: 0.420
SkyChina Petrol: 0.625
Sinopipe: 0.360
C&O: 0.495
Capitaland: 4.96
TiongWoon: 0.340

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.