"The bulls have their fun above the 200Ma and the bears have theirs under it" This is a popular notion at Wall Street. STI today officially trades under the 200MA. Going forward, it may retest the 200MA line, and if we are unable to trade and close above it. Better have a CFD account on hand and let us start to use 4G1R system to profit from the downside. As mentioned, this trend trading system picked up short sell signals last Wednesday night infrom of 180 participants at SGX... not exactly a beautiful sight but at least it reminded us that we can profit from the downside too. If you are interested, you may want to join me and the rest of the ChartNexus team at Capital Tower to find out what exactly happened on 12th Dec 2007... what 4G1R are we talking about... full details are at www.chartnexus.com/events
I went long HSI on Friday. HSI closed on my trendline support and I reckoned it was a pretty opportunity. Yeah, you can imagine my disgust when HSI tanks 1000 points by lunch! haha It is never easy to take a loss. Before you hit the sell button, u will have hallucination of a rebound when you sell... you will feel the pain when you realise your loss.... haha well well, i knew it only too well... all these are nonsenical reasons to hang on when I am wrong. Promptly I cut the position. I had a plan which entails what I wanted to do when things go wrong when i put up the position. If I am right about the trade, HSI should have rebounded back into 28000s.... for it to break the support means more selling may come and the next support i'm eyeing is at 25,800s thereabts. Why should I ride my losses down to 25,800s? Should I then hang on to the losing position and hope for a rebound? Well guess what? Even if there may be a rebound, HSI may head lower first and then rebound...rebound to where i could have sold... so in the end, it's LPPL. Wrong means wrong, cut my position and re-analyse.
It's interesting... very intresting... with the astrology date coming soon and we are heading down... coincidently, next week is last trading week of the year.... why does it sound like a plot?? We go down first until the bradley turn date and then trade higher due to window dressing??? hahaha
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
