It was a close finish today as the bulls narrowly beat the bears.
Vol 1036.8 M; Val 993.9 M
Rise 255; Fall 227
The volume is still heavy and the STI close up mainly because of the surge in Creative. Apple had released a strong set of results for Q3 and it's due mainly to strong sales in Ipod. I am really excited to see how Creative shares will perform tomorrow. On the international scene, oil price continues to slide and our trade partner USA's major indices are roaring accross the ocean. The rally ain't done yet...it's not done yet! :D
And once again my gems performed! This time it's is amid a rather mixed market. Hence I'm growing confident that my trading system is working well for me. However my first cash trade on Unifiber has yet to show result. I'm getting emotional here. The fear of it sliding southwards on the chart scares me. I have lost far too many times. So any trade that doesn't works well is scary to me. But as the saying goes, have a plan, trade a plan. I just have to trust my system. Many people has asked me to guess the direction of stocks. "Will it goes up or down?" I think from all my research in the past, the best answer I can offer is, "know how much you are going to lose in this trade". We can't guess 100% where is the price heading. But we can control how much we will lose. Money to trader is oxygen to divers, i will always remember that.
A fellow forummer brought up a very good reminder that National Day is coming. It's almost a tradition to have a rally before the National Day. We termed it the National Day Rally. I refered to my old blog (You can find it under links on the left) and found out that there was really a rally amidst high oil price! Just like now! Then, I was cautious and stayed out of the market. Now I should know better.
I had invited lots of traders from other forum here today. Welcome guys! I hope you enjoyed my article and hopefuly my Gems. :P Do share your experience or comments. Let's grow money together!
Thursday, July 14, 2005
My Gems! On a mixed day, wouldn't you be as happy as me to see your portfolio is on the positive side? Am I good? Or am I just lucky? I really wonder too. Just last month, I was so depressed about my losses. Recent weeks my new trading system works damn well. Back to the gems. ST-Eng and Jur Tech are having down days. Both had their weekly chart still having buy signal. For ST-Eng, it is actually a chance to buy more. As for JurTech, I choose to stand aside, as the daily chart has somemore downside as it's stochastics is in overbuy.
Wednesday, July 13, 2005
Market Tua Cheong ah!
When market wants to rally, join them! I call this riding on the bull run. Being the most hum ji trader of all time, I had gotten vested to play a part in this bullish mad run. This speaks volume of my faith in this run. I'm sure it will come to an end soon but surely not now! Why? Check out it out!
Vol 1115.6 M, Val 1071.3 M
Rise 365, Fall 147
Winners thrashed losers today yet again. A continuation of yesterday's trouncing. Check out the volume and value!!! No joking matter man. So I guess the bradley turn date is for the better than the worst. Again my gems posted gains or stood level. I'm not overly satisfied as the ratio for winners is 3:1. So unless you are running on bad luck, it's difficult to lose today. Many had warned about the high oil price, but I still don't see our market reacting to it ever since last week. Special mention about tech stocks is a must today. It seems like sentiment about the reversal in tech stock is very strong these days. The tech stocks has been running for weeks. I'm waiting for the next down to get vested. Retracement is a must to keep an uptrend healthy. So beware of catching stocks at their highest point.
On a day like this, I'm pleasantly surprised that my HGM actually went up to 0.480 before closing at 0.475. The world's steel price has fallen so it had no doubt affected the margin of HGM. However it must be noted, marine books are full and HGM's business mainly supply marine ship metal. Also, due to the over supply to demand situation in steel industry, output has been curb. Soon, we shall see steel price firming. This is just my hindsight and should not be taken as a reason to get vested in HGM.
The whole nation is talking about the NKF saga today. But i'm more concern that SPH has dropped 10 cents today. However i'm not too concern. From a technical point of view, the weekly trend is still up. What i see is a chance to add on my holdings if the weekly uptrend continues on a down day.
Two counters Jaya Holdings and Rotary was alerted from my system. I have posted the charts. This makes my gem list exploded to 8! What a good number. Auspicious! :D
Suntec Reits, really getting disappointed in this fella. It has close under resistance. I wonder if this is man made or is the sentiment really bad. One must note that Mr Lee KS has sold some of his holdings in Suntec Reits. Maybe it's time i consider to let go mine as it seems to be weak at the moment from a T.A point of view.
Unifiber, still yet to make it's move. Another heavy volume day today with big lots buy up. Soon...soon it will cheong...I must have the patience and trust my system. Sesdaq is having a fine run. Unifiber should join it soon.
Vol 1115.6 M, Val 1071.3 M
Rise 365, Fall 147
Winners thrashed losers today yet again. A continuation of yesterday's trouncing. Check out the volume and value!!! No joking matter man. So I guess the bradley turn date is for the better than the worst. Again my gems posted gains or stood level. I'm not overly satisfied as the ratio for winners is 3:1. So unless you are running on bad luck, it's difficult to lose today. Many had warned about the high oil price, but I still don't see our market reacting to it ever since last week. Special mention about tech stocks is a must today. It seems like sentiment about the reversal in tech stock is very strong these days. The tech stocks has been running for weeks. I'm waiting for the next down to get vested. Retracement is a must to keep an uptrend healthy. So beware of catching stocks at their highest point.
On a day like this, I'm pleasantly surprised that my HGM actually went up to 0.480 before closing at 0.475. The world's steel price has fallen so it had no doubt affected the margin of HGM. However it must be noted, marine books are full and HGM's business mainly supply marine ship metal. Also, due to the over supply to demand situation in steel industry, output has been curb. Soon, we shall see steel price firming. This is just my hindsight and should not be taken as a reason to get vested in HGM.
The whole nation is talking about the NKF saga today. But i'm more concern that SPH has dropped 10 cents today. However i'm not too concern. From a technical point of view, the weekly trend is still up. What i see is a chance to add on my holdings if the weekly uptrend continues on a down day.
Two counters Jaya Holdings and Rotary was alerted from my system. I have posted the charts. This makes my gem list exploded to 8! What a good number. Auspicious! :D
Suntec Reits, really getting disappointed in this fella. It has close under resistance. I wonder if this is man made or is the sentiment really bad. One must note that Mr Lee KS has sold some of his holdings in Suntec Reits. Maybe it's time i consider to let go mine as it seems to be weak at the moment from a T.A point of view.
Unifiber, still yet to make it's move. Another heavy volume day today with big lots buy up. Soon...soon it will cheong...I must have the patience and trust my system. Sesdaq is having a fine run. Unifiber should join it soon.
Tuesday, July 12, 2005
Gems continue to Tango!
It's a very happy day for me. All my gems cheonged! I spent the whole of last week wondering if my trading system really works when I saw many other counters rallied while my gems crawled at a slow pace. Patience it seems is needed for my system. If only I have the dough to own each and everyone of them. I could have recouped all my losses at 1 go! No wonder they say, the rich gets richer!
I wish to bring to your attention, my ex gem Hi-Pi. As soon as I dropped it over the weekend, it replied defiantly today with a +0.08 gain! I drop it because the weekly MacD is flat, trendless. It was initially thought to be smart to get out fast before it ticks down. Instead it ticks up! My cut loss was never triggered yet I drop this gem. What I did wrong here was to guess that it is turning down. Next time I shall wait for it to turn down as a confirmation. It's most satisfying that Jurong Tech continues to grow north! It's my new pick over the weekend and it justified that my system works! How wrong can I be? I mean so far all the gems generated from my systems rocked! Why should I not trust it? My gems are counters that are not yet overbought and have not cheong yet. Hence the risk/reward ratio is good.
This brings enough courage for me to cash trade for the first time in weeks.......I got vested in Unifiber today. In my chart reading yesterday(scroll down) I saw the weekly trend flattening...so I thought it should move either upwards or downwards very soon. Who would have expect it to cheong northwards on a hefty volume! The resistance 0.395 was overcame with such vigour that I joined the rally. Let's hope this is the first cash win for my system! :D
As for the market, it's quite a tight race today with the bulls winning by a slim margin and STI slightly down 5.6 points.
Vol 907.4 M, Val 793.6 M
Rise 254, Fall 209
Sesdaq, our pennies on the other hand posted gains and flooded the top active list. Time to grab some cheap lobangs? Tomorrow is bradley turn date in Astrology. It means something is coming. It could be good or bad for the market. Let's just watch. I don't do astrology analysis, i'm merely quoting a source just for my curiousity sake how Astrology Analysis works. A bomb went off in Barcelona but the damage is pale in comparison to London. Hence no impact on market so far. In a market where you have a 50% chance of on the losers side, my gems are on the winners side. Another strong evidence that I should trust my system.
And by the way, please read about NKF vs SPH. From this saga, I have decided to stop my monthly contribution to NKF. I be happier buying more tissue paper from the handicapped or donate directly to old folks home or any other place. This is my personal opinion and decision, i just need to express my disgust that's all.
I wish to bring to your attention, my ex gem Hi-Pi. As soon as I dropped it over the weekend, it replied defiantly today with a +0.08 gain! I drop it because the weekly MacD is flat, trendless. It was initially thought to be smart to get out fast before it ticks down. Instead it ticks up! My cut loss was never triggered yet I drop this gem. What I did wrong here was to guess that it is turning down. Next time I shall wait for it to turn down as a confirmation. It's most satisfying that Jurong Tech continues to grow north! It's my new pick over the weekend and it justified that my system works! How wrong can I be? I mean so far all the gems generated from my systems rocked! Why should I not trust it? My gems are counters that are not yet overbought and have not cheong yet. Hence the risk/reward ratio is good.
This brings enough courage for me to cash trade for the first time in weeks.......I got vested in Unifiber today. In my chart reading yesterday(scroll down) I saw the weekly trend flattening...so I thought it should move either upwards or downwards very soon. Who would have expect it to cheong northwards on a hefty volume! The resistance 0.395 was overcame with such vigour that I joined the rally. Let's hope this is the first cash win for my system! :D
As for the market, it's quite a tight race today with the bulls winning by a slim margin and STI slightly down 5.6 points.
Vol 907.4 M, Val 793.6 M
Rise 254, Fall 209
Sesdaq, our pennies on the other hand posted gains and flooded the top active list. Time to grab some cheap lobangs? Tomorrow is bradley turn date in Astrology. It means something is coming. It could be good or bad for the market. Let's just watch. I don't do astrology analysis, i'm merely quoting a source just for my curiousity sake how Astrology Analysis works. A bomb went off in Barcelona but the damage is pale in comparison to London. Hence no impact on market so far. In a market where you have a 50% chance of on the losers side, my gems are on the winners side. Another strong evidence that I should trust my system.
And by the way, please read about NKF vs SPH. From this saga, I have decided to stop my monthly contribution to NKF. I be happier buying more tissue paper from the handicapped or donate directly to old folks home or any other place. This is my personal opinion and decision, i just need to express my disgust that's all.
Monday, July 11, 2005
Jurong Tech Spot on!
It was a bullish day today as the gainers win hands down,
Vol 714.9 M, Val 729.8 M
Rise 340, Fall 133
The market was boosted by lower oil price, US market rally and the better than expected manufacturing data. The 2H GDP was also adjusted. Ever since I lost my last trade in June, I turned so wary abt STI retracement that I missed some good opportunities.
Am I being too *hum ji? Isn't chasing after the high price now an act of the fools? The sellers would be people who had bought at low and they sell at high. By buying now, would I be doing a buy high and later sell low? Or will it be buy high and sell higher? Mathematically, it just doesn't give me the good odds to chase after the high price. But emotionally, my gut feel say to bet on it. This is a trap! I followed my gut feel and lost heavily in the market. So this time, I shall just stand aside and let the bulls run. The only sure way of higher winning odds is buying when the market is oversold. Right now, it's obvious that it's so overbought.
A fellow Astrology Analysis trader had informed me about a bradley turn date on 13th July 2005. This turn is negative for the market before a strong astrology power presents itself on 18th July 2005. I included this astrology analysis in only for curiousity sake as i am still trading on T.A. However it must be noted that "Kong Ming" used astrology alot. haha!
As for my gems!!!!! *drum roll* Perfect! You should see the table I posted. All in positive territory and only 1 in negative territory. Maybe it's not a surprise since the winners to losers ratio is about 3:1. You have to be really unlucky not to be on the winner list. But! My gems has overcame the see-sawing of last week and stood firm at last week's closing. They are not affected by last week's massacre, where the likes of Cosco, noble got shot down. Simply, they are stable trades to make.
Alright, now that my trading system is working fine for me. I should be ready to go for the jugger soon. I shall announce the trade if i ever make one. I'm currently toying with the idea of trading warrants. You can see from my post of the Jurong Tech warants. Cheap and lucrative. I hope luck smiles on me this time.
src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
Vol 714.9 M, Val 729.8 M
Rise 340, Fall 133
The market was boosted by lower oil price, US market rally and the better than expected manufacturing data. The 2H GDP was also adjusted. Ever since I lost my last trade in June, I turned so wary abt STI retracement that I missed some good opportunities.
Am I being too *hum ji? Isn't chasing after the high price now an act of the fools? The sellers would be people who had bought at low and they sell at high. By buying now, would I be doing a buy high and later sell low? Or will it be buy high and sell higher? Mathematically, it just doesn't give me the good odds to chase after the high price. But emotionally, my gut feel say to bet on it. This is a trap! I followed my gut feel and lost heavily in the market. So this time, I shall just stand aside and let the bulls run. The only sure way of higher winning odds is buying when the market is oversold. Right now, it's obvious that it's so overbought.
A fellow Astrology Analysis trader had informed me about a bradley turn date on 13th July 2005. This turn is negative for the market before a strong astrology power presents itself on 18th July 2005. I included this astrology analysis in only for curiousity sake as i am still trading on T.A. However it must be noted that "Kong Ming" used astrology alot. haha!
As for my gems!!!!! *drum roll* Perfect! You should see the table I posted. All in positive territory and only 1 in negative territory. Maybe it's not a surprise since the winners to losers ratio is about 3:1. You have to be really unlucky not to be on the winner list. But! My gems has overcame the see-sawing of last week and stood firm at last week's closing. They are not affected by last week's massacre, where the likes of Cosco, noble got shot down. Simply, they are stable trades to make.
Alright, now that my trading system is working fine for me. I should be ready to go for the jugger soon. I shall announce the trade if i ever make one. I'm currently toying with the idea of trading warrants. You can see from my post of the Jurong Tech warants. Cheap and lucrative. I hope luck smiles on me this time.
src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
Sunday, July 10, 2005
London Bombing brushed aside!
If we market watchers feel sad for the victims of the London Bombings, we do not fear terrorism. It is something the market has got used to. The US market rallied aloud on Friday closing to set up a very interesting Monday for us tomorrow. For our own market, late profit taking took place on Friday before closing. Oil price fell below US$60 again, seems like the tropical storm isn't going to hit the oil rigs. But as wierd as it is, the fluctuations in oil price hasn't really impact our market yet. All I see is the impact on the petrol stations around our island where the poor uncles and aunties were busy changing the discount boards.
Hi-pi would be removed from my gem list because the trend indicator has flattened out and thus no more trend. Another reminder, do not use trend following indicator on counters that are not in a trend. It is most inaccurate and suicidal. Jurong Tech made it's way into my list. I have a chart posted for the reasons why it is enlisted. If you feel otherwise, please leave a comment. Let's learn together! As for the rest of the Gems, they continued to show prospect, infact i am about to trade cash for the first time in a month! The risk reward factor for unifiber is just too enticing for me. But the big wall at 0.395 is a major concern. But once it is broken down like Berlin wall, no holds bar, all the way to 0.50! hehehe (0.50 is my dream, not a target price in T.A) ST-Eng had announced a much better Quater than expected on Friday. No wonder the share price keep going up. Using Technical Analysis (T.A) I had spotted the pick up 1 week before the results and is now sitting on paper profit. Now, who says Technical Analysis doesn't work? haha T.A indicators shows the buying and selling intensity. So any insider trades are picked up. They are not just used to measure history chart patterns. It's a whole tool box. It depends on how you use them. I must continue to polish my T.A skills. Any mistakes in T.A will be recorded here as well, so that you my friend, do not make the same mistake. If you don't make mistakes, there's only 1 way your capital will go, NORTH! : )
Thanks guys for visiting my site. This site came alive because of your participation. Your chart requests enable me to practise more chartings and also an opportunity to unearth hidden gems. However, I urge more participations through the shoutbox on the left, and leaving your technical comments on my charts. This way we can really learn together like a big community. I am compiling a list of top 10 CPF investment counters from SI forummers. Shall share with you here. Let's grow money together!
You should have noticed a difference in the site today. I added trading advertisements incase you are interested in some products, you can click the links there. There is also a google search bar for you to use when you had parked your browser at my page and wished to get information elsewhere.
Last but not least, I am continuing to grow this community. You can help me by forwarding my URL to fellow shares fanatics. Fellow traders from friendsters, I hope you can share your thoughts or picks on the share market here as well. Sorry if I spammed your inbox. : )
*As traders, we are lonely because the people next to us doesn't understand our ups and downs in emotion because of the market.
Hi-pi would be removed from my gem list because the trend indicator has flattened out and thus no more trend. Another reminder, do not use trend following indicator on counters that are not in a trend. It is most inaccurate and suicidal. Jurong Tech made it's way into my list. I have a chart posted for the reasons why it is enlisted. If you feel otherwise, please leave a comment. Let's learn together! As for the rest of the Gems, they continued to show prospect, infact i am about to trade cash for the first time in a month! The risk reward factor for unifiber is just too enticing for me. But the big wall at 0.395 is a major concern. But once it is broken down like Berlin wall, no holds bar, all the way to 0.50! hehehe (0.50 is my dream, not a target price in T.A) ST-Eng had announced a much better Quater than expected on Friday. No wonder the share price keep going up. Using Technical Analysis (T.A) I had spotted the pick up 1 week before the results and is now sitting on paper profit. Now, who says Technical Analysis doesn't work? haha T.A indicators shows the buying and selling intensity. So any insider trades are picked up. They are not just used to measure history chart patterns. It's a whole tool box. It depends on how you use them. I must continue to polish my T.A skills. Any mistakes in T.A will be recorded here as well, so that you my friend, do not make the same mistake. If you don't make mistakes, there's only 1 way your capital will go, NORTH! : )
Thanks guys for visiting my site. This site came alive because of your participation. Your chart requests enable me to practise more chartings and also an opportunity to unearth hidden gems. However, I urge more participations through the shoutbox on the left, and leaving your technical comments on my charts. This way we can really learn together like a big community. I am compiling a list of top 10 CPF investment counters from SI forummers. Shall share with you here. Let's grow money together!
You should have noticed a difference in the site today. I added trading advertisements incase you are interested in some products, you can click the links there. There is also a google search bar for you to use when you had parked your browser at my page and wished to get information elsewhere.
Last but not least, I am continuing to grow this community. You can help me by forwarding my URL to fellow shares fanatics. Fellow traders from friendsters, I hope you can share your thoughts or picks on the share market here as well. Sorry if I spammed your inbox. : )
*As traders, we are lonely because the people next to us doesn't understand our ups and downs in emotion because of the market.
Thursday, July 07, 2005
Terrorists Strike Again! Ta ma de!
By now you should know about the London blast that killed many. My heart goes to the victim. At the same time, it made me more angry with terrorism. Wait, being angry is an understatement, i am incensed! No respect for human lives at all, cannot get what they want and start killing innocent people? If I have the money or the power, I will not kill them. I will hang them by their balls! ta ma de!
With this latest strike on London, it reminded me of the Madrid blast last year. I have posted the charts of sesdaq and STI to see what happened to our market in the aftermath. Both index opened down and then close higher. Will history repeat itself? For the brave hearted, you may want to contra when it open lower. But for amateur like me, let's stand aside and observe.
Our market really got massacred,
Vol 718.2 M ; Val 943.2 M
Rise 171 ; Fall 320
This time the sell down is fast and furious and thick with volume. With the London blast factor, tomorrow is almost confirmed a bad day. US already started trading in negative territory. But all is not lost! Amazingly, my 4 gems survived the massacre today. They are left untouched! But I have my doubts in tomorrow's session. God damn the terrorists!
We already have Economy slow down and high oil price to worry about. Now with the resurfaced Terrorist factor, i wonder how long it will continue to weigh down on market. All analysts no matter how thorough your fundamental analysis or technical analysis is, you will never be able to avoid a catastrophe in the form of natural diasater or terrorists attacks. Hence cut loss is important. Isn't it ironic? I have been talking abt discipline and important of cut loss, yet I still holding on to HG-Metal. I'm psyching myself up for that.
If you enjoy reading and find my postings interesting, you can forward my blog address to all fellow traders who share the same passion like us. The more the merrier so that we can have a big pool of traders to offer good advice and comments on the charts posted.
With this latest strike on London, it reminded me of the Madrid blast last year. I have posted the charts of sesdaq and STI to see what happened to our market in the aftermath. Both index opened down and then close higher. Will history repeat itself? For the brave hearted, you may want to contra when it open lower. But for amateur like me, let's stand aside and observe.
Our market really got massacred,
Vol 718.2 M ; Val 943.2 M
Rise 171 ; Fall 320
This time the sell down is fast and furious and thick with volume. With the London blast factor, tomorrow is almost confirmed a bad day. US already started trading in negative territory. But all is not lost! Amazingly, my 4 gems survived the massacre today. They are left untouched! But I have my doubts in tomorrow's session. God damn the terrorists!
We already have Economy slow down and high oil price to worry about. Now with the resurfaced Terrorist factor, i wonder how long it will continue to weigh down on market. All analysts no matter how thorough your fundamental analysis or technical analysis is, you will never be able to avoid a catastrophe in the form of natural diasater or terrorists attacks. Hence cut loss is important. Isn't it ironic? I have been talking abt discipline and important of cut loss, yet I still holding on to HG-Metal. I'm psyching myself up for that.
If you enjoy reading and find my postings interesting, you can forward my blog address to all fellow traders who share the same passion like us. The more the merrier so that we can have a big pool of traders to offer good advice and comments on the charts posted.
Wednesday, July 06, 2005
STI rocks on!
The SGX market continue to edge higher amid plenty of corporate news! No respect at all for the high oil price. Exactly what happened last year! Soon the big massacre will come. Will it be on the 13th July as predicted through astrology? I be waiting to see.
Now I know why i lose money last year. I have been chasing shadows! I have noticed how Olam and MMI rose prior the release of positive corporate news. How on earth do those people seemingly know about the news and then buy before the announcement? When announcement is out, price will jump higher, innocent and naive people like me will jump in. But as soon as we get vested, those who bought prior to the annoucement will take profit and cause the share price to slide lower. Experts buy low and sell high. Novice will buy high and sell low. If we were to use Technical Analysis, we can pick up the buy signal together with those who knew the news. This reinforce my believe that Technical Analysis works. But if you have holding power like Mr Buffett, it's better to be a investor as you can sleep more peacefully. Though, less exciting. haha
My 4 gems,
SMT: bought 0.715; price now 0.720
Hi-pi: bought 1.45; price now 1.45
ST-Eng: bought 2.47; price now 2.51
Unifiber: bought 0.390; price now 0.385
All the above gems are still "up" on the weekly chart hence I stayed long. It's still a mixed performance. Let's see how it close on Friday.
Another darling.....SPH! shiok! This one i stay vested since last June! Today it upped 8 cents on a heavy volume! : )
I am going to cut HG Metal....very soon.....I have to bite the bullet and face the harsh reality.
Now I know why i lose money last year. I have been chasing shadows! I have noticed how Olam and MMI rose prior the release of positive corporate news. How on earth do those people seemingly know about the news and then buy before the announcement? When announcement is out, price will jump higher, innocent and naive people like me will jump in. But as soon as we get vested, those who bought prior to the annoucement will take profit and cause the share price to slide lower. Experts buy low and sell high. Novice will buy high and sell low. If we were to use Technical Analysis, we can pick up the buy signal together with those who knew the news. This reinforce my believe that Technical Analysis works. But if you have holding power like Mr Buffett, it's better to be a investor as you can sleep more peacefully. Though, less exciting. haha
My 4 gems,
SMT: bought 0.715; price now 0.720
Hi-pi: bought 1.45; price now 1.45
ST-Eng: bought 2.47; price now 2.51
Unifiber: bought 0.390; price now 0.385
All the above gems are still "up" on the weekly chart hence I stayed long. It's still a mixed performance. Let's see how it close on Friday.
Another darling.....SPH! shiok! This one i stay vested since last June! Today it upped 8 cents on a heavy volume! : )
I am going to cut HG Metal....very soon.....I have to bite the bullet and face the harsh reality.
Tuesday, July 05, 2005
Unifiber to rumble soon?
Day 2 of this trading week. My 4 gems are still resilent. Unifiber would be worthy of a mention! It's risk reward factor is very enticing at current level. I am so very tempted to really trade cash versus paper today. But, Discipline! I wanted paper trade to test my system and I shall stick to it. A trader without discipline is like a driver who don't observe traffic rules. He will get killed oneday!
13th July is a turn date according to Astrology analysis. Let's see if it comes true. I remember last time Zhuge Liang the great used to study Astrology to aid his combat tactics.
Penny stocks has really been flying of late. Refering to the charts on sesdaq and STI, it's easy to see why. The bullish divergence could be happening right in front of our eyes.
HGM, why am I still holding on to this hopeless counter? Emotions. It will be a very painful loss after holding this counter for nearly 7 months by now. Fundamentally, steel prices has dropped. Technically, the chart look damn bad. What am I still hoping for? I should cut....I should cut....
I have been alerted to buy MMI of late. But I didn't. I decide to stick to my trading system and give it a miss because I promise myself never to buy on rumours again after I got hit few months ago. Now I'm looking stupid. MMI has rocketed off and laughing at me from the north. I just have to keep trying, keep learning....it has been almost 1 year since I started to write my trading journal. Looking bad, I keep making the same bad trading mistakes. With this new blog, it's a new beginning. I will be a better trader. By working hard learning, there's only one way I can go, that is Improvement!
13th July is a turn date according to Astrology analysis. Let's see if it comes true. I remember last time Zhuge Liang the great used to study Astrology to aid his combat tactics.
Penny stocks has really been flying of late. Refering to the charts on sesdaq and STI, it's easy to see why. The bullish divergence could be happening right in front of our eyes.
HGM, why am I still holding on to this hopeless counter? Emotions. It will be a very painful loss after holding this counter for nearly 7 months by now. Fundamentally, steel prices has dropped. Technically, the chart look damn bad. What am I still hoping for? I should cut....I should cut....
I have been alerted to buy MMI of late. But I didn't. I decide to stick to my trading system and give it a miss because I promise myself never to buy on rumours again after I got hit few months ago. Now I'm looking stupid. MMI has rocketed off and laughing at me from the north. I just have to keep trying, keep learning....it has been almost 1 year since I started to write my trading journal. Looking bad, I keep making the same bad trading mistakes. With this new blog, it's a new beginning. I will be a better trader. By working hard learning, there's only one way I can go, that is Improvement!
Monday, July 04, 2005
Satisfying showing by 4 Gems!
In a session where winners win the day marginally, I'm very happy that my 4 Gems performed! On any other day, I'm sure i will be on the loser side man! This time round I have sticked to my plan stringently.
- SMT : 0.695 cut loss - close at 0.710 today, it was a no buy today as the open interest was not strong. Now, the weekly macD chart seems to have hit peak. Stand aside is my decision until MacD ticks up
- hi-pi : 1.43 cut loss - close at 1.460 today, up a cent. But during intraday it touched 1.48. Hold now as force index crossed above zero line.
- unifiber : 0.375 cut loss - close at 0.390, maintain buy and cut loss price. Force index still under zero and Stochastics in oversold. Great potential.
- ST-eng : 2.41 cut loss - the star of the day, with a 3 cents profit performance! Weekly MacD and daily Force Index all read as positive. In addition, it released a new contract deal today after trading hours. Surely more upside tomorrow.
US bourses having holiday today. I came to realise, despite the oil price trading at US$60 region, our market has been ignoring it and keep edging higher. While I was all the way cautious last week, it was stupid of me. I should follow the market and the trend. Who am I to predict a massacre in SGX just because of high oil price? I remember sometime last year, oil price was deemed high at US$39 and I was also cautious abt trading. STI was less than 2000 then. I posted something like "Getting used to high oil price". It's somewhere in my old blog. Didn't STI still climb all the way to current level of 2200 region?
Now back to present, with so many analysts already expecting a higher oil price come year end, will this be factored in in the price we are seeing now? So would it means stocks will continue to climb like last year since it won't come as any shock? Any comments?
Sunday, July 03, 2005
4 Gems Spotted!
If you are driving, you should have seen the petrol price war started again. 25% discount over the weekend for petrol! On Friday closing, oil price hit US$60 again. I think of high oil price as a cancerous tumour, if you dun remove it, it will slowly kill the bullish sentiment. A fellow forumer mentioned that, in summer, we are already seeing US$60 per barrel, when it comes to winter where consumption is expected to be high, it's a "no eyes see" for oil price.
I have been diligently reading T.A and trading psychology book over the weekend. I come out enriched! Am so very glad to understand T.A better. What are traditional chart patterns, what are oscillators and trend indicators. You do not use trend indicators on counters that are in trading range. To trade using oscillators, it will mean nimble hands where you will get out of the market as soon as it hit over buy. Over-staying kills! My current trading system is using trend indicator on the weekly chart followed by oscillators on the daily chart to pin point buying opportunities. Here's a look at what I have found! : ) Cut loss level is important! In the game of trading, money to us is oxygen to divers, we must manage it well inorder to survive!
I have been diligently reading T.A and trading psychology book over the weekend. I come out enriched! Am so very glad to understand T.A better. What are traditional chart patterns, what are oscillators and trend indicators. You do not use trend indicators on counters that are in trading range. To trade using oscillators, it will mean nimble hands where you will get out of the market as soon as it hit over buy. Over-staying kills! My current trading system is using trend indicator on the weekly chart followed by oscillators on the daily chart to pin point buying opportunities. Here's a look at what I have found! : ) Cut loss level is important! In the game of trading, money to us is oxygen to divers, we must manage it well inorder to survive!
- SMT : 0.695 cut loss
- hi-pi : 1.45 cut loss
- unifiber : 0.375 cut loss
- ST-eng : 2.41 cut loss
Let's see how they perform for the week! I resolve to continue to finetune my chart reading my combining traditional chart patterns + candlesticks + western indicators!
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