Wednesday, February 25, 2009

Facing a rebound

Although i anticipated the rebound, but to be able to hold firm to my shorts is emotionally testing. To say i am not the least affected by the rebound would be a lie. It's really how i manage the fear inside; the fear of seeing my profit goes up in smoke. First of all, i must be clear, which level will mean this is not just a bear rebound. Which level will be a confirmation that my view is correct? This is how one can manage his emotion in trading. Otherwise it will be easy to be swung out of position. However we are all humans afterall, mana buay sim tia to see the profit shaven off. Like Livermore said, "Why worry about the few bids of profits as we didn't even own it in the first place" He further ensures that reaction in a trend is healthy and normal.

The buy signals from my strategies didn't trigger the entry price. This despite Dow was up 250 points. Perhaps the market isn't too keen to be bullish this time round. Most of the stocks finished near their lows. Wilmar for one manage to close a gap in spectacular fashion. To think i was interested to long it. Indeed, if it closed above 2.90s, i would consider it as bullish. Looks like 2.60s will be tested soon.

HSI lead by nikkei, spured on my Dow's overnight closing nearly spoil my day. it traded as high as 13.2k.... squeezing the daylights out of me.. i really need to see HSI breaks 12.4k by end of the week, otherwise something may not be right. It is a danger sign to me. Because Dow has broken the lowest level since 1997.... HSI, Nikkei and STI still languishing above 2003 lows... how can? But from my experience, Dow always dictate. Hence it may mean Asia may play catchup later. Otherwise, the recent reports about China may be true... their stimulus package seems to be working... and market maybe anticipating Asia to be firm for now?

UOL surprised me...gosh.. why it has to be me? Remember i covered Cosco at 835 and it tanked further... NOL refuse to go lower, and now i have UOL threatening to the upside... I know UOL is crying wolf if tomorrow it doesn't close higher with significantly higher volume or there is a bearish candle.

NOL is not easy... the way it traded as if it's going to breakout to the upside really disappoint me as i have anticipated a breakout to the downside. To short NOL, one must be sea-sick resilient because it is swaying up and down in the range still. However i like the fact that despite two bullish days and it didn't breakout strongly. Let me just observe one more day and then i decide if i should get out of it and loot one more liap of HSI. This is my strategy for the near term, i am going to take profits from stocks and then add to my HSI shorts. This way, if market plunge like October style, then i will tua tan. Otherwise, at most i lose my profits. However since i am with the primary trend, i think i have a slight advantage. Let's see.

For those following the Fibrechem story... this used to be one of my winning stock in 2006... the uptrend is well defined and very easy to make money. But gone were the days. Now this stock joined FerroChina into cold storage... Corporate scandal man! Those "Wrong" term investor this time really jia lat liao... I think Livermore put it very nicely. We must not invest in a company whereby it performed extremely well only in an economic enviroment and expects it to perform as well in a different set of economic enviroment. To invest, i think the company need to have a proven track record and the management team must be yan dao and capable.... otherwise easily become a victim.

I think tomolo may be a good time to go hoot one more short... depends on where Dow close tonight.

By the way, US new home sales dropped... They thought with the stimulus package, people will start buying homes.... please man! With so much uncertainty, plus job losses...i think they may hold cash incase tio retrench? Also, i thought most of the time people will make money from stock market first before they buy properties? With such sales going on in US market, maybe they get the money and start buying shares? keke

By the way, have you guys received the GST offset? I got mine.... also spent liao.. wahahaha i did my part to save the economy! :D

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.

Monday, February 23, 2009

Reflections


NOL: Stuck in a side-way range. IT means i shouldn't be using ADX or MacD in my analysis. Stochastics suggest a rebound is on the way. As i am short on NOL, i am waiting for the purple moving average to confirm the bearishness. Based on the last two candle stick formation, it seems like NOL is ready to pop higher. Should I long? No! Up yes, but how much is the up-side? Aren't i safer to remain short as we now how market can plunge more than it climbs?


HSI: The red spot on the chart is the likelyhood where the rebound may end. It is the downtrend resistance coupled with the neckline of the double top formation. The rally today caught my surprise because it came after Dow closed weak. HSI has not broken the last low about 12,400 points which disappoints me. HSI may rebound within the range still. RSI looks to be supported and this is bad news to shortist. Coz' if HSI is to rebound, plenty of room for RSI to move higher. However, this intra-week rebound may just be shortlived unless it can reverse the bad picture painted on the weekly chart. I am still hanging on to my HSI shorts. I am contemplating if i should add to my shorts since the market rebounds higher this week. Should i bet that this is only a rebound week and that next week the market continues to fall? If i am to try for it, then i have to reduce my short positions in NOL and UOL. What about diversification? Incase HSI go crazy and up 1000 points. Sure i can risk my 2009 profits. Question is, do i want to build on the profits by taking my profits early, or do i want to risk partial profits and go for bigger profits. For the record, whenever i try to go for big money, i never get it. Like i said in the last blog post, i knew the market wouldn't tank this week, simply because i still have short positions... lol


UOL: I will be watching closely on the rebound. ADX is showing a breakout in downtrend and strength as well. However, MacD is still not convincing. Both RSI and MacD has a chance to form bullish divergence at current level. I ignore Stochastic here as we are not in a range.

GrowMoney quickpicks
SGX
F&N
Wilmar

Of the 3 stocks above, i like Wilmar best. Definitely in my target list to long since it completed a bullish engulfing pattern with super volume. Indicators seem to confirm the signal. As for SGX and F&N, i think they may just be heading up to re-test support turn resistance.

As it is only Monday and we have 4 trading days to go, i need to see how we trade by Wednesday to form an anticipation. On Thursday, it is time again to participate in the traders club which is an exclusive meeting. We take it seriously such that we ban graduates who registered and didn't turn up. These people do not deserve to be in the club. This is the place where I offer our service and expertise to help get graduates up to speed. Hence i will not allow people to take this meeting for granted. So on Thursday i think it is a fantastic time to gather everyone because if this is the rebound week, Friday may present lots of shorting opportunities. Remember, it is safer to short on the rebound!

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.

Thursday, February 19, 2009

Anticipating a weak closing

*stretch the hands* woah... long time no blog.. as some of you might have already known, i was away to ChartNexus KL office for a few days. Though my body was in KL, my soul was at home and my mind was on the stock market. keke

On Tuesday when the market tanks, i wasn't ard my desk to build up more shorts. Rather on Wednesday where there was a slight rebound, i covered my Cosco and shorted one more HSI. My rationale was; I still have my NOL and UOL shorts, if i take up additional short positions, then i am actually increasing my risk. Also, i see Singapore market no up. It seems like recently it is fast becoming a useless market where global markets rebound, we only farted, but when global markets sell off, we go down as hiong as the worst. Hence i rather stick with my local stocks shorts. As for HSI, last week when the rebound actually reversed near a support turned resistance. Hence my thought is, if it really wants to cheong higher, that was the best time to take out the high. Hence on Wednesday when HSI rebound to 13k, i added one more short. My view is, it should close lower on Friday.

To short after a support has been broken is always a risky thing to do. This is because the market can squeeze you. Hence it is advisable to sell at the high. Follow the notion Buy low, sell high. When we want to long, we buy at the low, when we want to short, we sell at the high. If you do this, you will realise you have a margin of safety.

Tomorrow night is known as the triple witching over at US market and expect a volatile session. Those who likes to be night owl can trade the night session to earn some pocket money. haha Weekly charts of most indices look to have more room to fall. I may look to cover NOL and go for a financial stock if we have an intra-day rebound.

The market may not plunge again so soon. How i know? It's because often time, i have to make my money the hard way. Many a time, whenever i risk my profits for major movement, it never came. Hence as i am still holding to 3 short positions, i doubt the market will plunge... keke

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.

Thursday, February 12, 2009

Patience paid off

My anticipations of a sell off came true. Now i am seeing Dow broke the major support. Of course the closing on Dow is more important. Hence it is better not to count the chickens before they are hatched. Such support which so many people are eyeing once gives way, i think more downside to come.

It was really tough emotionally when the market showed resiliency. Many a times when the market rebounds, i had the temptations to cut my shorts and turn long. Especially seeing the profits dwindled. From my experience, i knew exactly how to deal with such emotional swings. I think this is my edge. Other than T.A which can be learnt easily, emotion attachments are often the toughest to manage. One has to go through the cycle of losing to winning before one finally can practise that effortlessly. It takes more than raw guts to stick to the trading plan or one's own market opinion.

To speak the truth, i didn't use any wonderful system or secret methods... it is just T.A + money mgmt + risk/reward analysis. I didn't know for sure the market is going to break the support and not going to go into a bull run. What prompted my short positions is how much i will lose if my opinion is wrong. I reckoned, i can handle the risk from the profits i built up since Jan'09. The rule of this game is, when you are right, you win more than when you are wrong. This is money management. Remember how i was wrong early Jan? I cut my losses fast and turned short when the MTL levels were met. I think this is how this game should be played.

During this sideway market, i know which level to determine if the market is bullish and what are the signs. I didn't see any. Rather, i found the actions very familiar, something which i may have experienced in the past. Hence i opted to build short positions while managing my risks. On the hindsight, i could have long at support and sell at pop up to make the profits. But like i have shared before, all the small profits u make betting at support to bounce will be lost in a sudden plunge like this. On some occassion, it can be more than that! How did i know? I was once a victim too. keke

Today i talked to R again. Throughout the conversation, he was justifying to me why Indoagri can go up and why he should be holding on to it. For the record, he longed at 1.30s, and then averaged at 0.39... All the trades were done because he feels it is a good price to trade. Without FA or TA. As his friend, i always advise him not to trade because of his feel, either readup on FA to invest or TA to trade... I thought it is common sense, if you want to be an engineer, u study engineering, if you want to be a doctor, you read medicine. Now if you want to make money from the stock market, you should study how to do it instead of gambling. I have a feeling tomorrow he is going to MSN me and scold me for talking abt him. keke

The other friend i am in constant contact with is Y. People around her discouraged her from trading... and persuade her to invest instead. She even has doubts that if trading really can make money. As a beginner i can understand what she is going through because i have gone down that path before. Well, i consider myself fortunate. Because during my losing years, i saw how my shifus really made money from trading and applying technical analysis. Although i was still learning and the road to success was slow, at least i could draw constant inspirations from them. I had the belief that one day i can also do it. Determination + Faith + Belief! I think this may be what Y is lacking. :P Opps... another person to give me earful tomolo.. keke

Noble and Olam... the commodities rally may be coming to an end? The rising wedge resistance may not be tested afterall... i had actually wanted to short Olam in the 1.50s... however it only manages to trade at 1.51... looks like i may have to pass this trade.

SGX is the new counter i may be eyeing.. the $5 has been frolicking for too long.... too long.... hmm....

Will this break matures into a fantastic downtrend..... i hope so... Dow... pls dun rebound tomolo morning! Let me see a -250 from u!

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.

Tuesday, February 10, 2009

A Resilient Market

We are now being swing in a very tiny range... breakout may be akan datang. And the triggering news? Of course is the bail out plan... week ago i mentioned this is what the market may be waiting.. and while it is waiting, neither the support nor resistance was broken. Plenty of whipsaws around.

To be honest, as the days go by, I am getting more and more restless. I feel like adding my shorts on the way up. At the same time i am also wary of what could happen in China. Jiabao shushu may disclose their stimulus plan anytime. The market is also sucking in all the bad news and selling very well. But in a bear market i am still cautious. When it breaks down, it can go down twice as fast as it crawls up. So meanwhile i will just wait for the stupid bailout plan details to be out. It's better than losing money unneccessarily. Livermore said, there is a time to long, there is a time to short. There is also a time to stand aside. One of the 3 times he went bankrupt was in the aftermath of the great depression. Then he wrote that the market was thin and in a tight range. He was a breakout trader... it was during that period he lost alot of money and he realised it is impossible to make money in that market.

Hearsay the congress is unhappy with the way the last bailout fund was used. But Obama keep pushing... by hook and by crook i think it's going Obama's way. Government intervention can spoil my bear party.


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.

Monday, February 09, 2009

Some things doesn't change

By now most of us would have already heard the news on Capitaland issuing rights. haha I just find the whole episode amusing.. Didn't they replied recently that they have no idea of the high trading volume and crushed any talk of "issuing rights"? What happened today? wahahaha IT's not the first time and definitely not the last time this had happened. I am so used to this by now. Well i don't blame anyone for this, infact without these things happening in the stock market, how to use technical analysis?


SPC: While most of the stocks already hit 100dma and turned down, this is a laggard. It has not met resistance at 100DMA and looked destined to fall. Conflicting signal here with bollinger breakout vs 100dma as resistance. This happens so often in analysis. So which one do we listen to? We should really use risk/reward to decide if we should trade at current level. Today it closed with a bearish engulfing. It needs no confirmation.



Commodities can buy? I have attached the two charts on Olam and noble, both are commodities play. Both are showing rising wedge pattern. To trade rising wedge, i will wait patiently for it to restest the upper line. That will be a good MTL. This is because if the pattern is true, that is where it offers the best risk reward. Of course seeing a CS reversal is bonus. OTherwise a break of the lower line with a bearish market breadth is also a great opportunity.

UOL - Latest discovery. Product of TT1-short! With capitaland needing to raise cash, they may say all they want, i only trust my charts. Market is full of lies and illusions. We choose what we want to see.

A reminder of the China Stimulus plan. This could be the reason why HSI was so resilient. This is despite Nikkei's weakness at closing. I reckon many are pinning hopes on the China stimulus plan. A friend reminded me, the last round, governments around the globe too injected stimulus package in different sizes... did it work? Of course we proceed to see lower prices. This bear market escaped even the elitest in the finance world. Should i even bother to believe what i read anymore? haha

Currently i'm still staying with my HSI short and NOL short. Thankfully NOL threatens to the downside today. But it's still eat pig pay dog for me since HSI rebounded to my shorting level. At 10,300 points, market already priced in the stimulus package? Sell on news on the cards? How about bradley turn date? We shall see...

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.

Thursday, February 05, 2009

May the market falls

Although CNY has just passed barely a week.... without any recent trades, i felt that time was crawling by. It seems like i haven't taken a position for a long time. Gambler instincts! haha Today i added another short position in the market. This time round, i decided to go with my gut feel and shorted NOL. No doubt NOL is in a tight range, unless it breakout to the upside which i don't feel it's possible given a slow down in global trade. Hence to me, i feel downside is more realistic. The rally in the market presented me an opportunity to bet NOL by shorting nearer to the resistance. I shorted at 1.23. At worse, maybe i can cover back at 1.10s...

HSI's intra-day rally caught my eye... when index was trading at 13.3k by 11am, i contemplated at running away. However i reminded myself to focus on the primary trend and visualise my worse case scenario. At worse i lose back some of my profits in 2009. Too hum ji will only result in tan bo jiak.

The whole week is full of ups and downs without an obvious direction or even the slightest hint. What market may want me to believe is we may be heading higher in the near term. In this sideway market, i rather short at resistance then to long at support. I have got battle scars that reminded me that no matter how i should only long if i see bullish signs which is sorely missing. I had wanted to hoot big on NOL, but i hold back. My position now is just a tikam on the market lao sai next week either due to a lousy non-farm pay roll or bailout plan refuted and of course the bradley turn date next Mon. Hence if i am right about market testing new lows, then i always can add after it breaks. Otherwise going into a full position now, i risk more if i am wrong.

I cut my BAC. This stock is really hopeless. Even though Dow rallied, it is moving lower. It was a trade placed by mistake and i have no qualms about cutting it. To date, i made two mistakes in US market. BAC by accidental order, AAPL by lack of commitment to do proper homework.

Once again i set up myself for a bear market. If i am right, it means over the last few trading days market is sucking in buyers. After next Monday, i should have a clearer picture.

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.

Wednesday, February 04, 2009

Follow the gut feel?

After the comments by JiaBao shu shu, China may taps its reserves to invest in their motherland. Woah... even China needs to tap reserves... this bear is really fierce. I hope the great depression II will not happen in my life time... i don't want to see it. On the other hand, if it does happen, gosh, it paves way for great opportunities post depression. If i'm still young by then, maybe it is my chance to tua huat? keke Anyway, the market boosted by Dow's overnight positive closing and closed higher. Although the index is down, individual stocks are up mostly. Volume again is pretty average. Just abit more thoughts on volume, i think the avg for now we can take 1b. We shouldn't be expecting 2b or more as many retailers has turned "forced" investors.

Do you believe in gut feel? You can read about it here. You will be surprise what i wrote one year ago is similar to current market! Who says history doesn't repeat itself? With many stocks near support, it is very tempting to long. Just like what i wrote yesterday. Today's price rally caught my eye. I didn't want to long, rather i feel the market could be sucking in buyers and setting up for a sell-off. Although technically i shouldn't start to long here, however my concern is, when the decline starts, it may be an ugly gap down leaving us with no chance to short. One of the option i am considering now is scale up selling. My friend already started doing this. The technique is shorting on up days all the way to resistance, and once turn down, hoot more. However, this is a high risk strategy, if you are wrong, then it will be very painful. One must have enough conviction about the direction inorder to do this. I am tempted... selecting my target carefully. But question is, should i follow my gut feel?

Comfort delgro fell through the MTL level, i am observing. I did not take up position here. My objective to be monitoring this stock is to see how my sell signals are doing. If the sell signals start to be profitable, then i am more confident to take the next one that comes along. This is because my strategies are "buy low, sell high". HEnce if one by one the sell signals start to be profitable, it means the stocks are turning down at resistance one by one, sector by sector. This is how i derive confidence in taking signals and positions. I do not like to trade the market in random just because there is a signal from the system. Liklihood is i will see more losses then winners. How about cutting the losses fast and ride the winners inorder to be profitable when using the system? ask yourself, if you have cut losses fast for 4 trades, the 5th is profitable, do you think you have the resolve to ride the trend? chances are you will take your profits too early and in the long run, end up nett loss. One doesn't need to trade everyday, but must observe what the market is telling you. All you need is one trading idea to hoot!

NOL's bollinger is very very tight and it is approaching resistance on the weekly chart. Either up or down, i think can trade. Watch out for it.

Wilmar has a bear flag waving on the weekly chart, i think it's going to announce it's results soon? Maybe sell on news?

The stars says major movement on the 8th/9th Feb.... hmm... tua lao sai next week? Just nice, stimulus plan + nonfarm payroll...

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.

Tuesday, February 03, 2009

Headless chicken

Looking at the stock market... really looks like a headless chicken, doesn't seem going down, at the same time no confidence to head higher. I am tempted to go long but had to pinch myself to remember the primary trend. How about short? No again because support ain't broken. Then what about short at resistance? Now I saw two types of resistances in most stocks, one of immediate high, the other one would be of the major resistance line.

Unlike previous month, the market was moving according to my anticipation through sector rotation. This is the easiest way i can read the direction of the market. Currently the sectors were not moving much and there was no clear leading sector as yet. Hence the wait continues. i just need the next move to come and then i shall hoot tua tua. My shifu said in trading, if you are on a roll, don't let loose. Dare dare win more.

The last time market is in such a range got to be May to Jun 2008. Then i threw caution to the wind and went long at support. Happiness was what i felt when market indeed rally higher and i sold on the way up. However, at the next dip, i longed more. Without a warning the market fell like a stone in the following month. I think i made peanuts by giving back a substantial amount of my profits. I realised my mistake was not following the primary trend. Then i was fooled by "it is the bottom". Not to mention because i wasn't fully focused on trading last year.

If the market has bottomed, this is actually the kind of boring market we should be witnessing. I will be observing for the characteristics of a solid chart base from volume behaviour and price patterns. For those of you who have attended the training, we want to see bullish candlestick patterns at support levels. It is covered in your training and i think the topic is on multiple patterns analysis.

Currently the market seems to be drawing in buyers... may be a trap?

Now for the bad news.... i forgotten to remove my BAC(NYSE) long order last week and my order was hit! Cham liao.. now got to baby sit BAC... I didn't even know that my order was triggered until i checked my accounts today. Anyway, the good news is, I am profitable for the second consecutive month. : ) go go go! Just like EPL, i shall take every month as a final and make sure i am profitable. This way by end of the year, how not to be nett profitable? Patience....... loon ah!

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.

Monday, February 02, 2009

Markets at MTL levels again

I had expected the market to stay afloat and not heading anywhere or even slightly lower. But the selling was pretty strong today and caught me by surprise. Not that i am complaining too much because i have a HSI short. But what irks me is when i am not in tune with market. Once I am anticipating the market correctly, then only would i hoot tua tua. Otherwise i will continue to grind the profits.

Monday started weaker than expected and now Nikkei is firmly below 8k again and Dow too broke 8k... FTSE fighting hard to stay afloat 4k and STI.... 1700 points looks hard to defend. However, unless a big negative news hit the street, otherwise i don't see any big sell off coming. Obviously while the US econs data were bad, i can see that the market isn't reacting to that. Rather it is waiting for positive news flow about the contents of the bailout plan. Eureka! Market is looking for a positive news to rally. Since it mai lo, surely it means it is going to ki?

The support-turn-resistance neckline on HSI works like magic as my short swung deep in the money today. I am still keeping it unless proven wrong by market. Meanwhile, i will be looking at any clues that may suggest i shouldn't be a bear.

Comfortdelgro: The taxi may run out of gas as it hits into resistance and is near the MTL level, 1.38. However Taxi is known to be slow.. hence if i go short, i may have to wait for some time before i can see profits... continue to ponder...

F&N: Another stock which is near MTL level... 2.72 should be the level to watch. If broken, i think 2.20 akan datang. The average traded volume of 2.2 mil should qualify this stock as slow. If the market lacks interest in this stock, then the movement will be slow... continue to ponder...

IndoAgri: It has hit resistance and offers an excellent risk to reward trade based on current price. My only concern is if OPEC cuts production, it may spur a rally in palm oil related counters. Indices at current levels offer little incentive to add to my shorts because i suspect it may bounce off support instead of crashing through it.

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.

Sunday, February 01, 2009

Focus is on bailout plan

With the bailout plan delayed for another week, it leaves the market in anticipation. I rather they get on with it and let the plan out. Market dislike uncertainty and i should expect the support and resistance to hold if there are no major newsflow. Otherwise, if we look at the bigger picture, we are in this trading range. The only consolation is that this trading range is huge and it is possible to profit from both long and short. What i fear most is an illiquid market with tight range. However this is also the first sign of market bottom. Read any trading books, you will know market bottom is usually not volatile and slow.

I have squared off most of my positions after CNY and indeed it is heart wrenching to see Cosco and Capitaland closed lower after i covered my shorts. Although i am already in this business for so long, i am human afterall. I do feel Cake sim with bad positions too. Frustration and greed do manifest in me. All these years, it has been a constant battle with the inner self. I am left with only HSI short position. Here i am keeping this short because my opinion is still of a bear market and i don't see any reason for HSI not to trade closer to 10k. Hence technically i am looking out for key levels to trade HSI. My last short position is about 13,700 points which is the neckline of the double top on HSI. There was a successful re-test of this neckline as a resistance. I am trading based on weekly and daily chart and thus qualify myself as a position trader rather than scalper. This will allow me to focus on work and only make trading decision near market closing hour. Friday's closing as well as 4pm to 5pm is more important to me. Similarly, if i am trading forex or futures where i am looking at the 30min or 15min chart, my focus is on how the candle will close. Hence my first objective is to see HSI re-test the 12.1k level... if it cracks, i think we might see lower. Otherwise, we may still be in the range. When will i cover? Either i buy back at support or if there is any bullish news. Otherwise, i may even add if support cracks. As for Singapore stocks, current levels ain't interesting to me as yet. Let's see how the week opens.

After the barrage of signals during first week of Jan, i did not receive any good signal as yet. This may be because of the trading range that we are in. This is where if you are using trend-following signals, you are bound to lose. Hence even user has to be discerning upon when to use what strategy. Otherwise those unneccessary losses will kill you mentally and hurt you pockets.

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.