STI closed the gap today. When the day began with a tint of bear scent, i decided to do the necessary.....book my profits. I took profits on 3 stocks which I didn't like the charts after my comprehensive analysis on Sunday. They were hesistant to move up and are just slightly in profits. Hence instead of allowing them to swing into losses, I book my profits for them, leaving the stronger and deep in the money stocks still on the table and observing my protective stops. What I have done is to reduce my risk exposure as CNY approaches. The market will tank without warning and if i am spread across the market with many stocks, profits will diminish should a complete meltdown hit us.
This week will be a volatile week with Economic data coming from US and Big Ben is going to speak on Wed & Thurs. Somehow, I have this warning alarm going off inside my head. It is wiser to be careful not to place any big position in the market before an important event.
As for HSI, it opened low and closed higher! We are at what we call the Pivotal point. HSI can tank or cheong from here. There is an air of uncertainty surrounding market since last week. If HSI refuse to close higher by Thursday or Friday, I will give up on my 21k target and enjoy a normal CNY instead.
Fantastic results by Cosco & TatHong was reported after hours. Chinasky's result is also spectacular and i read inbetween the lines that, there is a huge market for high end textile in mainland China. I will be looking out for buy signal in this industry group.
GrowMoney Growth Fund
CoscoCorp @ 1.31
TatHong @ 1.16
JiuTian @ 1.05
Amara @ 0.450
MediaRing @ 0.325
Jasper @ 0.025
HSI CW
Aqua-Terra @ 0.560
Activities:
Capland babies bought 0.150 sold 0.165
FerroChina bought 1.42 sold 1.57
SeehupSeng bought 0.470 sold 0.485
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.
