Monday, September 07, 2009

The feeling of frustrations crept up

It's been a solid 6 weeks since i departed from Trading... or did i? Actually all this while, i have positions in the market. small but definitely vested. During my reservists and also my one week break last week, i still have access to internet and charts, just that, i couldn't be fully online thus only took a mid term view of the market and kept two positions. During last week's sell-off, the drastic decline by SSE spoil my day as i was forced to cover my long positions. Not only that, i had turned short on the HSI with the view that it is gonna see at least 19.4k but i no believe the bull is dead...thus i kept Wheelock long making the short on hsi just a hedge.. As we know by now, not only did the index tua rally, mine is the worse performing out of the property rally today. This seventh month is indeed inauspicious for me. You may think, "ok ma, just lose one position only..." I need to complete this passage with the loss i suffered on Datang Power listed in HKSE. When SSE found support, i went long on this stock with the opinion that the rally will be fierce. Especially since Premiere Wen say no such things as tightening bank's credit. Mana zai market still no confident and had to tua lao before last week's fresh announcement that foreign funds may increase vested interest. The only catch i read was, there is no change to the maximum cap. Just the % so it may mean no fresh money pouring in? Anyway, it's been a eat pork pay dog month for me. Nett nett it is a negative month. Though the loss is contained within my money management rules, but it never feels good to lose. Although this kind of thinking is not healthy and not being objective in trading... i am human afterall. I wonder where did my hardened soul of yester-year went to? I could consistently grow money year after year and even in the super 2008 bear. Surprisingly, i am at this stage flat in my account for the year 2009. I have under performed the benchmark index and this is making me very very unhappy.

Nan dao like the saying goes... as a man ages... so does the guts... Anyway, i shouldn't continue to sulk at what had happened... the past doesn't represent the future. My focus should be on the market and not whinning.

I notice the keen market interest in property stocks today... nan dao the consolidation is over? I am keen to see follow through buying which is sorely missed. Without a catalyst, i find it very tough to make any intelligent guess on the probably direction. As such, it is never wise to make any move until the market shows me. One by one, i want to see the property counters take out their July highs, then i can safely shoot for the banks which is likely to follow through.

Ask me how i miss Genting and many of those high flying stars? I also would like to know. One of the reasons i reckoned was i been badly hurt by then during my early days that i do not feel confident in them anymore. No matter how nice the chart may look, those i never buy will go up, those i buy often comes down.. i dunno why it happens but happen it did to me moons ago. Thus i only focus in stocks more than $1 which is more orderly in it's movement. Especially if there is sector confirmation. The other reason could be, all these happenings now is very familiar. I seem to have traded in this kind of market before... was it 2003? or was it 2004? Like the chinese saying goes, 回忆是痛苦的根原 I been hurt in those years before.. the sexy stocks goes up and down, some retailers make a killing but most got burnt. All this while, the good fundamental stocks steadily climbs higher and if i looked back, SGX was only 1.70 back then for the taking. Believe it or not, i forsake it to trade the likes of bio-treat, junma, chinasun, longcheers.. mistakes are never to be repeated..

Sorry for being long winded... it really feel nice to talk to the invisible me... trading is lonely... with so many possibilities in the market.. i have no convictions of the direction as yet.

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