Monday, October 30, 2006

Market Massacred!

As anticipated, market gave way. I did what I had to and cut loss on ChinaSun, bought 0.775 and cut at 0.675. Shit happens in life and it happens in the Stock Market as well. Of so many stocks, ChinaSun has to be one of the worse hit by the bears today and most importantly, i must be the one holding it!! haha! I didn't like the heavy volume selling which broke the support cleanly. Only common sense is to run first. Losses are part of this game. I had learnt to take it in my stride.

Looking back, if I had not sold Capland and HSI for profits last Friday, i will be looking like a damn fool. This was exactly what happened in the old days, where I hold on to stocks greedily and hope for more profits. Dudes, in the market, one need to grow up fast. You simply cannot repeat your old mistakes all the time. Remember what I said about ChinaStocks last week? If your portfolio is made up of 50% China Stocks, i'm sure you are bleeding badly. This group of stocks never fails to stun investors with nasty losses.

What about BioTreat saga?? He say someone forged his signature? He only know today?? What has he been doing? Company's developments, share placement, he didn't know anything about them? Is he basking himself in KTV everynight? Keeping scores of misteresses? No wonder BioTreat is "sai" chwee.
This is a grim reminder that we have plenty of second rated China companies listed on our bourse. Why can't we get the good ones like China Mobile, Bank of China and ICBC ? China's telecom market is huge!!! All we can get is one handphone designer known as longcheer... haha!

Current Holdings:
Time to keep a close watch to avoid another May'06 disaster. If anything, just sell first and look back later. This is your only insurance against huge losses.
ChinaDairy @ 0.560
MediaRing @ 0.360
SembKim @ 0.655
CoscoCorp @ 1.31
TatHong @ 1.17

Market indices direction wise, I'll be monitoring how support levels hold. If the rebound is weak, I will hoot Put Warrants...if support holds, I will hoot Call Warrants. Indices will be rocking up and down, it's grow money time!!! :D hehe I will be shouting at the shoutbox should i get involve with any warrants. Stocks, i will leave them alone for now....awaiting to bottom fish rather than catching a falling knife. What are the stocks to pick up? Of course good FA counters man!!! I will continue to ignore those kiching kurung stocks.

US market should be down tonight, inorder not to have nightmare, I shall not be bothered about the opening ! Let Channel Newsasia read the closing to me tomorrow morning. hahahaha!

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.