Friday, January 23, 2009

Happy Chinese Gu Year!

My schedule is fully booked all the way to Saturday evening 7pm. Yes this is how many events ChartNexus has lined up in recent months. The best part... everyday is almost 17 hours long... including events plus office work plus trading...really can feel fatique... though tired... my mind is not at ease unless i blogged tonight. For i am waiting for thursday night to affirm my market opinion. Before i commence on my trading plan, let me first thank you all for your kind support all these years. Whether you are ChartNexus user, Graduate or just drop by to visit, i wish you all the best in health and wealth in the gu year! Huat arh!

All week long the market swings up and swings down.... but my heart and sight were set on Thursday closing. My focus is on the key support levels of major indices and most stocks. Now with such a closing, my bearish view is more or less certain and i look forward to more profits and may even keep my shorts over the new year and add more. Capland is now firmly in profit but my cosco is bery disappointing... still holding above 80 cts.. HSI is also deep in profit and i may see 11.8k akan datang? So long Dow and Nikkei stay below 8k... i think HSI won't be able to pop up. Although i am right about the market direction this time, let me assure you i am not always right all the time. I merely traded with an opinion and follow my plan. If you read the post from Monday, you will know i did not predict today's market outcome. I am anticipating and then trade accordingly. Just like beginning of the year, i was bull but was quick to realise i was wrong and quickly turn to short till today. Trading is really not that difficult if you are willing to put time and effort in learning the craft and most importantly observe and remember what had happened. This is because history always like to repeat itself... but in different shapes and sizes. Heard about cause and effect? To know where the market is heading, we must know what had happened before or happening now. This is how i conjure anticipations.

Currently i have two bad positions in the market. TopGlov of KLSE and AAPL of Nasdaq. Especially for the bad position on AAPL, i must elaborate. I actually deserved it. This is because i didn't do my due dilligence. I shorted AAPL just because i feel Dow will close below 8k by Friday and totally unaware of the results on the same day i shorted. By now all should know that despite December's super bad retail data, AAPL sold more Ipods and Iphones than expected. Hence now i am sitting on this loss. However i am still lucky as AAPL has gapped up and is trading lower with the dow firmly below 8k... Hence i still have a chance that it will actually close ugly by tomorrow morning.

For tomorrow, if Asia markets closed below MTL levels. I will add to my shorts and keep over the weekend. Otherwise, the only thing i fear is a KRD tomorrow. I have to be wary of that because govt may step in to support the markets at the key levels.


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.