Wednesday, January 21, 2009

Dow 8k support cracked

O yes... my account swells up nicely over the last few days. I think the old me would have been grinning ear to ear.. but now older and also wiser, i know these are just paper profits. My mind was actually not on how much profit i have made by now since the start of the year. Rather, i am thinking about the trading opportunities that were coming up ahead. For i know, if i look at the paper profits, the emotion may get the better of my analysis. Singapore market seem to be holding up well. Remember i keep mentioning how a local event may hold up the selling while the rest of the market crashes? It seems to be this is the case happening right now. How can we see bloodshed on HSI, Nikkei plus Dow and we actually finish better than them? If this is not a godsend opportunity, then i don't know what is. So going forward, it is going to be interesting.

Look, as i have always mentioned year after year... Thursday is important as it gives clue to how the week may close. Those who attended the last traders club meeting would know what i am talking about because i shared in a mere 5 mins presentation on my anticipation of the global stock market. Given that Dow is teasing 8k... If Friday night it closes below 8k firmly, then next week will be pretty ugly. And we will be having holidays! Hence who on earth dare to hold on to their positions over the holiday. That's why my focus this week will be whether to add to shorts or cover back before the holidays. I am still pondering... it all depends on Thursday. If anything, i may even add to shorts if we bounce just because of budget day while the rest of the world goes down. I am salivating even thinking about it. At most i hedge my position by playing blackjack over the holidays.. hahaha Look, i think it is wise to risk profits for more gains. Like they say, no enter the tiger's den, no get the cubs.... keke

Alot of stocks are languishing at the support... once cracked... one by one they shall fall... i will exercise patience in waiting.. for i know if i short at support, i am an idiot. Cosco for example, this nut is damn tough to crack! At least my HSI and capland is obedient... cosco i dunno what is it waiting for... maybe it's not it's turn.. maybe it's a chance to load up more shorts? Maybe maybe....

For tonight, i shorted AAPL after monitoring it since Steve Jobs went on medical leave... the poor fella. I respect and like him alot for his spirit and intelligence and business acumen... He spoke at some university graduation and wow... what an inspiring speech... one of the reason why i quit my job as an IT engineer and into the trading world full time.

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