My anticipation of sub 7k didn't materialise and i watch in disappointment during the holidays as New York stayed afloat 8k and Barclay's confident statement boosted FTSE. These lead to a big run up above 8k by Nikkei. So much so i had no interest in playing blackjack as my mind was pre-occupied on my post CNY trades. Alas today i took my profits off Capitaland(SGX) and Cosco(SGX). Cut my losses on TOPGLOV (KLSE) and accidentally turned long because i went long more than what i had shorted. Since it's in ringgit and a relatively small position to test poems platform it doesn't worry me so long it doesn't breakdown hard tomorrow. The other bad trade, AAPL (Nasdaq) continues to cause me diarrhoea. What a poisonous fruit. Hearsay snow white went into a coma after eating the same apple..... AAPL was cut moments ago.. if suay, it may hit US$100 before a retracement. Also, since it was a bad mistake, i rather cut. How stupid can it be to be riding losses and cut profits fast? Now i'm left with a KLSE stock long and a HSI short. Unless the vote doesn't get through otherwise HSI sure tua gap up... then my profits contracts again. #@$@#!$%#@#! Why~~~ why can't i one time hoot tio seh?! Guess it's no use complaining. Nevertheless let's look forward to the next trade. By the way, hearsay my chinese zodiac say this year i meet gui ren and will tua tua huat leh! not bad hor.. nan dao this year really i can hoot tua tua? Not only this, my wife warns me about the tao hua this year.. hearsay i be got a lot of tao hua in Ox year! hahaha *sing*路边的野花不要采，不采白不采！ kekeke
One of the reasons i covered my shorts is because there are upside surprises to some of the data which came out. Corporate wise, internet & technology companies appear to continue to be performing well. Nan dao tech sector will pull this economy out of trouble again just like 1998? Governments appear to be locked in arms to stimulate the economy, the success is anybody's guess. What's important to me is, market is taking these positively and i shouldn't be a stubborn bear. I only have two choices, either i ride out this rebound or i take my profits first and wait at MTL levels. I chosen the latter. Obama stimulus plan is on the votes tonight and there seems to be alot of econ data coming out which can mean a big swing to the upside may be possible. I find it very useful to measure the kind of emotion i am going through each time i take a loss or a win. Like now, although i made profits, but, i am not happy as yet. My mind is not focussing on the profits, i am already hungry for the next trade. Currently i am feeling very uncomfortable because i am sitting on too much cash and can't wait to grow them.
Watch the bailout plan... the last one sprang nasty surprise when unexpectedly the market reacted negatively to it and we had the worse month of the year. We are still dead locked in a range, hence to short, i prefer a break of the support or at the resistance. It requires patience to get to MTL levels.
Friday may be what many people will expect a rough time as US's GDP numbers will be out. While no one expect it to do well, but if it performs better than worse market can still rally. Why do i get a feeling, unless another big company goes under, otherwise i don't see the market going any lower and it makes sense to be a bull now. Or should i say Ox. Well at least until we see market starts to react to bad news. Now, even if we are moving higher, let us watchout and be nimble at resistances.
Due to the light volume, today's big rally should be discounted. With no good stocks from my screening, i opt to stay out and observe. Perhaps my favourite Thursday night may yield good stocks.
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