It's 1:17am now as i am blogging this....hehe back to my old commited self! Just met up old friends and had a wonderful time sharing the past and updating each other..... wah... time really flies...we were only 17 when we hang out at snookerium, KTVs and "ponteng" lectures..... i think a part of my life was missing. I had little memory of what i did from 2005 to 2007 because i was too obssessed with market. I studied my psychological behaviour ever since i shrug off the lazy bug and forced myself to blog. The benefit is i am very close to the market and the "feel" is back. Whenever i am alone, my mind will drift to the charts and i form different market scenarios and my reactions to them. Yes, i do feel a sense of satisfaction from this. Because i quit my job for this last year and trading is what i should be doing. However, it is also hurting my family. While i was still a bachelor, studying this late into the night is not a problem. But it can't be done when you are sharing a roof with ur life partner. No matter how understanding they are, ultimately, they choose to marry us not to be acting like strangers in the same space. Gosh... just how do i balance this. Infact, one of the reason for my "laziness" is that i knew if i were to be as commited as last time, there will be negative impact. But at the same time, if i do not have the highest level of commitment, it will affect my trading. My AGM is coming up.... hence this is a good time where i have to align my priorities to that of my wife's expectations. It is just unfair to her if i am to do my own things and neglected her. Workwise, at ChartNexus, it is hectic... much more hectic than my days as an engineer in HP. We are now organising more and more smaller workshops to help our graduates. We decided that, our super bundles customers trust us to take care of their trading needs and hence we should not neglect them after their course ends. I was speaking to a few of them and was happy that they are able to identify trades and risks pretty well. At least they are in control of their trading. Next will be to share with them through the online forum on picking those golden opportunities.
Finally after 2 weeks of sideways, the market sell off for 4 days and we saw many support levels cracked. STI is now hanging precauriously near the year low. To crack it, it will only trigger more selling. The last round in Aug'07, Fed comes to the rescue and the market rallied for 2 months before crashing. I wonder this time round, where can the good news come from? A common myth about trading is we have to trade intra day to make money. If you look at the way i trade, Cosco, Capitaland, Noble, these short positions are short and hold strategy. I did not bother to trade the intraday swing. This strategy is most suitable for working employees. Most of us hold day job, why trade intraday? Just watch those important levels and take up positions and watch your money grow! I mentioned alot of times over the last few months on how i am only interested to build a portfolio of short positions, it is satisfying to know my market opinion is right. Tabi, it still hurts that i covered Cosco too early and didn't pocket the big crash. The same goes to Capitaland. I didn't want to roll over the contracts as at the point in time, it looks likely market may thin out sideways, hence i didn't want to waste the CFD charges. But at least still got Noble! :D
With my short profits, today i added more shorts positions in Ferro, Yanlord because to me, Dow is tired and at resistance. The odds of coming lower is higher than heading higher. All i ask for is Dow to crash another 3 digits to help in the sell off for our markets. However, it is not hard to notice that recently our markets is indifferent towards what happens in Dow.
Cosco's recent bad run is very suspicious to me. Why would a CEO suddenly retire? Did he mention about it at all before? Maybe another CAO fiasco? It is noted that USD is rallying against all majors and oil price has slipped. Semb Mar last reported problem abt unauthorised trading in forex to hedge.... will cosco..... nan dao..... bu hui ba???
Alot of stocks broke the range and threatening to go lower. If market still has strength, this is where they will rebound. However, looking at how things are going, we came so far to test 2840s, surely there may be a swipe down to kill the bulls?
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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.
