Thursday, January 25, 2007

Bulls or Bears, you decide

The afternoon heavy selling caught everyone by surprise. I took profit on ChinaEnergy today further reducing my exposure in the market. Market has gone up quite alot and some form of selling is expected. Zuj was the funiest of the lot, coz' in the morning he mentioned about preparing amour to take on the selling! haha The question on everyone's mind will be is this it? Will the market finally collapse? We still have reasons to be up tomorrow, bargain hunters were spotted late today, budget day is coming, next week Fed minutes, Chinese New Year. Also I notice the pattern of the current market is, we pull back one day only for the bulls to continue. Nett Nett we have an up week. Of course this pattern will not be there forever, but with the conditions surrounding the market remain constant, i.e newspaper headlines, penny stocks in top volume, oil ard 55 bucks, HSI strong, US at new highs.... the pattern may continue. In trading there is no sure thing, you conceive a trading idea and manage your risk. Anyway, when market pull back, as long as your stocks doesn't pull can liao! hahaha

I added another batch of Sinopipe at 0.425 today after it started the day strongly. Also during the panic selling, I went long on HSI when the latter was found testing the 20,500 levels... it closed higher and my warrents is in the money at closing. I put on a small position first and if proven correct by the market, i will promptly add on for an objective level of 20,900 or even 21,000. I have been on this incredible winning run since Nov'06 and to top it off, i won 10/10 times in HSI. I know I have to lose some day. Especially after such a fine run, a big bad lose will be looming ard... let us see if i'm right or wrong about HSI. The same rules applied, it's how much we win when we are right and how much we lose when we are wrong that makes a difference.

GrowMoney Growth Fund
CoscoCorp @ 1.31
TatHong @ 1.16
JiuTian @ 1.05
MediaRing @ 0.325
Jasper @ 0.025
Sinopipe @ 0.330
Amara @ 0.450

Bought ChinaEnergy for 1.18 and sold 1.34
Bought PineAgritech for 0.610 and sold 0.635
Bought Amara for 0.450 and sold half at 0.580

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.