Thursday, November 23, 2006

Up, up and away!

After a black Monday where the market gave away recent gains and threaten to drop south further, we seen 3 consecutive days of gains. Impressive! But also dangerous! It is always not comfortable to see too steep an incline...once the supply of buyers dry up, we will head south. This is exactly what happened at every market top. I'm tracking market volume very closely. Especially when there seems to be little fear and all greed, prepare your parachute.

I followed a rule my shifu always shared with me, "Sell on the way up". I did so and cleared 3 positions namely Gallant bought 0.920 sold 0.975, JiuTian bought 0.950 sold 0.995 & ChinaDairy bought 0.560 sold 0.565 thus pocketing a very decent profit. All 3 showed signs of weakness and after 2 days of spectacular rise, it makes sense to take profit first. This is consistent to what I have done back in October when STI reached new high. Remember, no one can sell at the exact top. I will never forget the pain I went through during my early days of trading where gains were wiped out as I stubbornly held on thinking every counter I bought will sheng sheng sheng naive i was.

Now, can you do poor old Decipher a favour? If you find my blog entertaining, useful and educational, may I ask you to forward my web address to your friends who might be interested. I aspire to be a leading local trading website providing value to visitors and I can't achieve this alone. Let us tua tua huat together! Huat arh!

My Holdings:
Cosco Corp @ 1.31
Midas @ 1.02
Sembkim @ 0.650
TatHong @ 1.17

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As it's my last article for the week, I would like to invite you to spend a Saturday with me on the 2nd of December 2006. Details as follow, or you can click on this link

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.