I was taken for a ride last week literally. Well, i was really on the way to KL for a meeting because the first National Investors Symposium is 3 weeks away and there are some stuffs to tie up. My profit in HSI swung from over $900 bucks to just $50 over 2 days. And guess what? after i took my profit, market went down again. I re-examined my decision, yes if i have "yue guang bao he" aka time machine, i would still do the same. 21k did broke and i was waiting for it for quite sometime and acted. The rebound came unexpectedly and the intensity is something not within my expectations. Hence i would still have taken my profits. Though it is frustrating, but this is exactly how i would have done it the second time. No choice, this is market. It is watching me, it will try it's very best to trip me in my quest for wealth. I have long been used to it. I too took profit on my yanlord shorts on Wednesday. With the profits built up from cashing in from my recent shorts, i continue to hold oceanus long and my noble shorts. Noble has been threatening to break higher. The sudden surge in oil price nearly spark a commodities counter rally. However on the technical side, Noble still has yet to break the resistance.
With many of my positions squared off, i am looking forward to take up some new positions. I observed that STI may have hit bottom at around 2700. Ben should keep rate unchanged and US may rally for a few days, but financial storm ain't over yet, thus may drag the US market. But HSI seems to be leading STI recently. Both indexes are trading near their important support levels.... both clinging on to their dear life. Hence, i will place my efforts more on the chart of HSI. 21k remain a psychological support. Let us observe how HSI trades there.... is there more buying? or is there more selling...
DISCLAIMER: The contents in this website are for fun reading and must not be taken as a buy or sell advice. You must do your own analysis on top of my postings. By reading this blog, you agreed that i am not responsible for your trading.
