Nikkei Acting as anticipated

Following Tuesday's gains, Nikkei pulled back on Wednesday and Thursday offering a good chance to go long which I did. I had to because it is behaving according to my anticipation that it is forming a bottom on the weekly chart and I anticipate a white candle by Friday. I always preach to let the market shows where it is heading before we put our money on. Even when I was a young boy, following rules has never been my nature. That explains why my principal used his cane on my bom bom. keke

GrowMoney QuickPicks
Brightworld
ChinaDiary
UIC

*Powered by XPertTrader

XPertTrader Subscriber, MacD Histogram rule coming your way on Sunday! We will upload into XPertTrader Library for you to download and start using! Time to salivate! :D For visitors who are not yet a subscribers and wish to find out more, we welcome you to visit us on 21st Nov at our XPertTrader Workshop! Details can be found at www.chartnexus.com/events . Book your seats early as seats are limited. See you there!

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

STI 2800 . Comes sooner than later?

Nikkei pulled back nicely according to plans. It will be a buy for me if it opens quiet, or trade near to 16,100 levels.

After many weeks of inactivity, my account roared back to life! Just as I guessed, they are really rotating one by one, taking turn to rally. Didn't add anything today as I am cash strapped and waiting to pounce on index warrants.

GrowMoney Quickpicks
Jiutian
Sunshine

Cracking the Stock Market Code is now open for it's 4th intake! Details as can be found at the following URL : http://www.chartnexus.com/events/more_details.php?eid=128 . This time round, I'm the trainer! If you have been following my blog and would like to spend a Saturday with me, see you there! : )

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

Nikkei Springs back!

Nikkei rebounded it's support level. I will be looking at dips from Wednesday or Thursday for a chance to long. I did not long today because for a normal movement, it should make a light dip before testing 16,500 level again. The dip serve as my confirmation.

As for stocks, today was a great day. But not for me. My stocks practically stood little changed and a little into red territory. I do not like this feeling. But then again, feeling shouldn't interfere with trading. I ought to stick to the support levels i defined.

GrowMoney QuickPicks
CNA
Swissco
Hi-p
Midas
OCBC
ChipEngSeng

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DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

Nasty Surprise from Celestial

Celestial has been the talk of the town with it's surprising strong sell down today. On the contary, something seems to be brewing with ChinaHong. $2 stock now!!! Amazing! It goes to show how volatile china stocks are. Take extra precaution when trading them. Anyway, you will find that I have been very quiet lately. This doesn't mean i have stopped trading. I just acquired Gallant last Friday. F&N a stock shortlisted last Thursday moved up 8 cents today. I wonder if Gallant will disappoint me.

Anyway, I have cut a number of stocks, Chinasun, MediaRing and Synear. Yes, Synear. Bloody hell!!! Today went up. It goes to show last week sell down was "man made". Tricky!

Current holdings:
Gallant @ 0.920
SembKim @ 0.650
ChinaDairy @ 0.560
Cosco @ 1.31
Midas @ 1.02
Tat Hong @ 1.17

2 stocks i am looking at tomorrow:
Longcheer
SinoEnv

Weak pullback with volume will be perfect entry for me. Otherwise, a quiet open may be another good opportunity to enter.

Indices wise, I am looking at Nikkei for a chance to play long. The strong rebound today caught my eyes. As soon as there is bottoming action, i shall long a strike at 16,000.

Due to my commitments at ChartNexus, I am preparing for more XPertTrader workshops and my own Technica Analysis Classes in December'06. Over the weekend, I had been doing lots of backtesting on strategies for the time period from 1996 to 2006...10 years. I would say this backtesting really made me learn lots of things as i analysed all the charts to confirm the results. If you need such a backtesting tool, do not hesistate to visit www.chartnexus.com or you can ask me in the shoutbox or drop me an email, I will be glad to help. Better still, comes join us at one of our free workshops. See you there!

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

STI climbs higher despite profit takings

STI is nearing record high once again. How come i see so many unhappy faces? With market trading at highs, we should all be cheering happily. But really, profit taking was the theme whole week and any rebound became instant profit takings. I sense there was no confidence in the market. Plenty of ulu stocks hogged the top volume. A sign i never liked. We all know the market is going to correct, but somehow i feel it hasn't happen yet. HSI if it doesn't close above 19,000, it risk a very bad candle formation on the weekly chart. Nikkei in contrast, could be forming a bottom on the weekly chart. Dow without saying is at another all time high. But what's the use? Rally by Dow has been ignored by our local bourse. But come to think of it, it is better this way because then we won't have exuberence and without that, it is unlikely market is going to crash big time.

My strategy for the current market will be 隔岸观火, "Observing the fire from the other side of the river". I have shortlisted 2 stocks to watch tomorrow, F&N and Gallant.

Ladies and gentlemen, let me introduce you to a system i developed using the MacD Histogram. The results from backtesting is more than encouraging! As soon as i finalise the testing, I shall load it up to XPertTrader Library.

We still have about 3 seats left for the Technical Analysis course titled, "Cracking the Stock Market Code". If you have not signed up for the course, please do not forget to do so! See you there!

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

Eat Pig, Pay Dog

Merril Lynch did it again!!! A report by them on Chinasun sent the stock rebounded fiercely back into the 70s! We have seen them done this a couple of times and they have done it once again. If I tell you i am not *tulan, I am being dishonest!

HSI went crazy and barged into new highs! With US under pressure on Friday, I thought today's going to be a goner, but to my pleasant surprise... Ah Gu is back! Especially China Stocks, i have been noticing them, they seems like taking turn to rally.

By the way, those who are not in my growmoney yahoo group, quickpicks are back!!! As of Sunday, I'm going to start sending quickpicks to my yahoo group. Here in this blog, I will continue to share my observations on the market. But i will still declare when I buy in the shoutbox wherever possible. Like today, I was at HDB hub for their walk in selection....no time to get online. But I bought my quickpicks. :D Not making money yet hor.... !@#!@#!@ they bo cheong...nevermind, maybe tomorrow! :D

Haiyo!!! Longcheer why cheong so fast!!! I not enough money to buy leh!! ChinaSky wait for a few more days will die isit??? Really is pui ah! This few weeks has been a "eat pig pay dog" for me. Nothing fantastic so far except profits in Cosco is swelling up. :D

XPertTrader has released a screen rule on MacD Histogram!!! Yeah!! I have been bugging them for it and my Christmas present came 1 month earlier! hahaha For those who are still not familiar with MacD Histogram, you should check out this indicator, it's my favourite trend reversal reading indicator!

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

Cracking the Stock Market Code - 3rd Intake

Learn the most effective Technical Analysis Strategies for the ever-changing markets in this one full day course (Lunch & Tea Break included). Our Trainer is a qualified Research Analyst from the investment industry. This interactive course (intake no. 3) will arm you with a 4-step trading strategy, obtained through practice, practice, practice.

Cracking the Stock Market Code
Building your First Trading Strategies (Intake 3)

Date: 11th Nov 2006 (Saturday)
Time: 9.30am-4.30pm
Fee: SGD180 *Enjoy a discounted price of SGD 162 for more than 1 seat booked.
Venue: BayView Hotel, 30 Bencoolen Street, Singapore 189621
Presenter: Ritesh Menon

COURSE OUTLINE

Intoduction to Technical Analysis
The course will kickstart with an introduction to Technical Analysis and understanding the psychology behind it.

How to identify Trends
We will first learn how to identify trends. Trend is your friend! Learn how to identify and draw a stock's trendline and learn to trade along with the trend

Support & Resistance
The core of technical analysis! No trader can ignore this basic but yet often times forgotten concept. Learn to identify all the support and resistance levels on a chart. Entries without knowing where the support or resistance are risky.

Price Gaps & Volume Analysis
Learn to identify the different types of Gaps and how you can trade them. The importance of volume in analysing the charts will be taught throughout the course.

Moving Averages
Learn one of the most popular trend indicator and how to determine entries & stops using moving averages.
Strategies include price crossover with Moving Average and Moving Averages crossover. Do you also know moving average can be used as a support and resistance?

Candlestick Reversal Patterns
Stock price goes up and down the chart every day. We will show you how to identify these turning points of a trend through Candlestick Reversal Patterns

Relative Strength Index (RSI) Indicator & MacD Indicator
Learn how to make use of these 2 indicators to identify entries and stops. They can also be used to identify Bullish or Bearish Divergence which signifies major turns on the charts. A must know for indicator study!

How to determine market direction
Knowing where the general market is heading gives you the edge in trading. You will be able to avoid buying high and selling low.

How to identify the start of Rotational Play
We have seen how sectors in the market rallies one after another in what the industry call rotational play. Learn how to identify which sector is in play and how to identify the laggard sector!

How to select the right stock
Ever wonder why are your holdings not in the top gainers list? Why did you miss out the big runner and bought a stock that refuses to rally during a bull phase? We will show you how to select the right stock out of the hundreds listed

Money Management & Trading Discipline
No trading system is complete without Money Management and Trading discipline. This section will complete the formula by sharing how to manage your money and be a disciplined trader

A 4-step approach to identify the next profitable trade


For more information about the above course please visit: http://www.chartnexus.com/events

Within a stone throw away from record high

I tried to go short on Nikkei and failed on Tuesday. Bought at 0.255 and sold at 0.240 on Wednesday. The rebound in nikkei was weak and it went soft after briefly crossing into positively. Recognising the weakness and my eyes on Nikkei breaking the 16,200s support, i bought the PW. Tuesday ended with my PW slightly in the red. Wednesday opened perfectly with Nikkei down by 100 points, but things were different after 1 hour of trading and once again i saw Nikkei trickling upwards. After deliberating for a few minutes, I decided to cut loss on my Nikkei short. The logic is simple, human are driven by fear and greed in the market. If Nikkei is really bearish, the selling would have feed on itself with many people dumping due to fear. However that was not seen and it serves as a warning to me.

Current Holdings:
ChinaDairy @ 0.560
MediaRing @ 0.360
SembKim @ 0.655
CoscoCorp @ 1.31
TatHong @ 1.17

Midas is a stock i will be looking at. Breakout of $1 with volume caught on my stock screener.

We had a flush on last Friday and Monday. Last 2 days of actions showed that buyers are still willing to step into the market. Gosh! Why the bullishness? We easily closed the gap down on Monday. This gap should now act as a support level for any pullback. Or should we go down tomorrow, this gap will be a resistance. Property sprung to life. This is 3 days after I took profit on my Capitaland. Damn!!! haha Overall, we are seeing buying accross the board which shows strength.

Dow Jones could be supported at the highs because of the elections next tuesday. Can you believe it?? At the point of writting, Dowjones is up 40 points! Another good run tomorrow? I'm just glad I still have stocks in hand and has stayed clear of my shorts. Cheers!

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

Market Massacred!

As anticipated, market gave way. I did what I had to and cut loss on ChinaSun, bought 0.775 and cut at 0.675. Shit happens in life and it happens in the Stock Market as well. Of so many stocks, ChinaSun has to be one of the worse hit by the bears today and most importantly, i must be the one holding it!! haha! I didn't like the heavy volume selling which broke the support cleanly. Only common sense is to run first. Losses are part of this game. I had learnt to take it in my stride.

Looking back, if I had not sold Capland and HSI for profits last Friday, i will be looking like a damn fool. This was exactly what happened in the old days, where I hold on to stocks greedily and hope for more profits. Dudes, in the market, one need to grow up fast. You simply cannot repeat your old mistakes all the time. Remember what I said about ChinaStocks last week? If your portfolio is made up of 50% China Stocks, i'm sure you are bleeding badly. This group of stocks never fails to stun investors with nasty losses.

What about BioTreat saga?? He say someone forged his signature? He only know today?? What has he been doing? Company's developments, share placement, he didn't know anything about them? Is he basking himself in KTV everynight? Keeping scores of misteresses? No wonder BioTreat is "sai" chwee.
This is a grim reminder that we have plenty of second rated China companies listed on our bourse. Why can't we get the good ones like China Mobile, Bank of China and ICBC ? China's telecom market is huge!!! All we can get is one handphone designer known as longcheer... haha!

Current Holdings:
Time to keep a close watch to avoid another May'06 disaster. If anything, just sell first and look back later. This is your only insurance against huge losses.
ChinaDairy @ 0.560
MediaRing @ 0.360
SembKim @ 0.655
CoscoCorp @ 1.31
TatHong @ 1.17

Market indices direction wise, I'll be monitoring how support levels hold. If the rebound is weak, I will hoot Put Warrants...if support holds, I will hoot Call Warrants. Indices will be rocking up and down, it's grow money time!!! :D hehe I will be shouting at the shoutbox should i get involve with any warrants. Stocks, i will leave them alone for now....awaiting to bottom fish rather than catching a falling knife. What are the stocks to pick up? Of course good FA counters man!!! I will continue to ignore those kiching kurung stocks.

US market should be down tonight, inorder not to have nightmare, I shall not be bothered about the opening ! Let Channel Newsasia read the closing to me tomorrow morning. hahahaha!

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

How deep will the retracement be?

A poor GDP provided enough reason for traders to take profit and halted Dow's progression into the uncharted territories. I checked and found Dow's retracement can test 11,800. On the hourly chart of Dow, supported near 12,000. Let us see what unfolds on Monday night. The poor GDP could be the catalyst for a decrease of interest rate by Big Ben maybe?

On the regional scene, HSI and Nikkei finished Friday's session on a weaker note. STI followed the footsteps as traders took profits in unison. I am one of them! haha I square off my HSI Call Warrants when the morning rally couldn't sustain and HSI was retracing along with the poor closing of Nikkei. This one is bought at 0.410 and sold at 0.475. Next trade was to close my Capland's call warrant. Bought at 0.170 and sold at 0.200. My reason for selling is because if STI is to retrace, Capland will definitely be involved. I will just wait for another opportunity to trade it again. Protecting my profits come first!

Current Holdings:
ChinaSun @ 0.775
ChinaDairy @ 0.560
MediaRing @ 0.360
SembKim @ 0.655
CoscoCorp @ 1.31
TatHong @ 1.17


I will be watching 2 levels of possible support for STI. 2686 and 2670. Pullbacks and retracement is only healthy and natural. With Dow's negative close, we should have reactions at the opening bell. Reminder, HSI is closed tomorrow.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

STI 2700 is a thing of the past!

Hello hello hello! STI 2700, who would have thought? haha There isn't much pull back before we break 2700 and that is really a surprise to many. As per my article last week, i am still fully loaded with stocks. While my anticipation of STI to break 2700 was fully correct! However not all my stocks moved. And guess what? My ChinaStocks are giving me problems!!! What's NEW??? They are damn tricky! Often times, they just give you a one day wonder. The more I look like China Shares, the more it looks like they are taking turn to rally. The rotation must continue otherwise I will cut soon. It is extremely risky to be buying anything at this level, if you must buy, make sure you are nimble. As explained in my strategy class, I noticed since 2004, there is a particular time each year where it is a must buy! Let us all be patient for now and I shall chart to your heart's content when i think i want to buy. Otherwise, i will be a damned fool for listing out stocks that I myself dun buy and entice you to buy.

This blog is my trading diary, things i learnt from my trades, i wrote it down. Hence no way am I paper Trading. By the way, i have been observing one guru. It is so obvious that he keeps quiet when he is wrong and that he only talks about profits and never mention the risk involve in a trade. An example, "if you have bought so and so warrant, u have now a 10 cents profit and if you buy 20 lots, it's $2k in a day's work." What about the downside? What if the warrants move against you and you own 20 lots? Dudes, if you are new to trading, always consider your risk/reward. Do not be blinded by quick money!

It's been a long time since I have charted for you, my distinguished guests. Tonight I would like to share Cosco Corp, TatHong and ChinaSun.


Cosco Corp: The volume today break out and price close into the all time high. The previous times when Cosco Corp acts this way, it continues to head higher. $2 stock soon? I certainly hope so! :D For those interested to know why I bought in the first place, you may check my July Archives.


ChinaSun: Did you see the obvious Downtrend? 50Ma is cutting 200MA soon and this will bring ChinaSun into it's bearish phase. Did you also notice a positive divergence? Or how the price is now at support levels? I think support is going to hold and 50ma will find 200ma a support rather than break it. If i'm wrong, i will cut.



TatHong: 1.15 was a great catchment area. There is also a gap support at 1.17 . the pull back with light volume after breakout was a classic T.A buy signal. Let's see if there is further upside. Obvious uptrend.

DBS, Starhub & Noble. What do the 3 stocks have in common? They all have CandleSticks Reversal Patterns. My XpertTrader pick them up using the CandleSticks rules that i created to screen for Bullish Engulfing and Hammers. Did I buy them? Certainly not! I am and always will be a honest trader with a blog to share. Just look around you, how many "gurus" or analyst dare to show their losses? Mostly keep quiet and hope people don't remember. When they win, they will boast how easy it is. Deceptive marketing I call them because trading is never easy! As for me, my portfolio is open for all to see and comment. I have nothing to hide. It is a open secret that it is how much we win when we are right and how much we lose when we are wrong that matters! Ok ok back to the trades. It is the dilema of putting on a trade despite market trending higher. We know it's going to be risky and hence I decided not to put on a trade. Today they simply rock the roof. So do we just buy when we have a T.A buy signal? Don't we need to consider market wisdom? Hmm.... food for thought.


DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

Hari Raya Special - 股票必胜法

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

Fully Loaded! Going for goal!

If you are wondering, why are there no articles? Let me explain, when I last blogged last Wednesday, market has been moving up for a couple of session and I feel a pull back should occur and I decide to hold back and wait for it to happen. It seems to be a wise decision because the risk/reward isn't great. The other reason was, it's the result season in US and I was busying loading up on call options and following the US news.

Let me refresh my positions:
ChinaSun @ 0.775
ChinaDairy @ 0.560
MediaRing @ 0.360
SembKim @ 0.655
CoscoCorp @ 1.31
CapLand Warrants Strike 5.15 @ 0.170
TatHong @ 1.17
HSICW Strike 18200 @ 0.410

As you can see, I have picked up quite a number of stocks over the last few sessions. TatHong was picked up by a new rule i developed to screen for very light volume retracement. It's FA is fantastic and hence I picked up. I had wanted Hongguo as well but my queue at 0.715 was not done and hence I decided not to chase. But Hongguo will be one stock I will load up once i dispose my other China plays. According to past experience, it is wiser not to hold too many China Stocks. 1 bad surprise can cause accross the board China play sell down. But recent news releases are very positive for China stocks to a point that I have this feeling that china plays is being deliberately enticed to move higher.

Scrutinising my portfolio further, u will notice not all of them are in profits, but what to do? They refuse to move!! Especially MediaRing and SembKim! But once they move, I think will be powerful. I am not cutting anything as yet. Let us see what tomorrow brings.

As for my late HSI Call Warrant purchase today, I decided to go for OTM warrant versus ITM. ITM will have higher gearing which means it will move faster then OTM relative to the underlying. But this is a double edged sword. What happens if you get the direction wrong? It will move against you just as fast! Hence my strategy for trading warrants is, if i'm wrong in my direction, my warrants must move slower, but when i'm correct in my direction, my warrants will turn from OTM to ITM and it's gearing will be increasing! Nikkei's after lunch reversal caught my eye and I tracked HSI's futures after it reopens at 2:30pm. It indeed rallies from negative to positive and pushing 18,000 levels. My gut feel say wait for a pull back and to my pleasant surprise it really did! Dudes, when something like that happens, it means anticipation of market movement is correct and we should follow through on our anticipations. This is a repetition of my earlier HSI trades. Apart from gut feel, I had also studied the movement of DJ and there are many results going to be announced and of those, i did a research, should be positive. Also how the resistance turns support for HSI worked wonders.

For Market to tua rally, Tomolo headline, "Rice convinced Kim" a picture of them shaking hands. hahahaha

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

Tech Stocks rumble

Tech stocks has been quiet for a long time. Today they started to breath fire. My XpertTrader scans for rotational plays showed plenty of tech stocks. GlobalTest, MemoryD, UTAC, Chartered, DMX, DataCraft. Buying tech stocks is never easy, highly volatile! My favourite would be DataCraft. Superb business growth, share buy back, yet the stock price has been in a depression. Weekly chart looks set to form a reversal pattern, price had kissed the 50ma.

As for indices, i am still waiting by the sideline. North Korea has added tension in Asia Bourse and one would expect high volatile movement. For those who had the guts, you may try when HSI rebound off 17,700s level, this level has been retested 2 times. 3rd time lucky? But upside is capped at 17,867 thereabouts. As for nikkei, 16,400 resistance turns support. Let's see how this support holds.

A key reminder, earning season is here! Lookout for stocks with promising growth!!!

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

Market shakes off Nuclear Threats

Underlying strength is bullish! Bargain hunters stormed the market after US ignored Kim's nuclear test. I picked up 2 more stocks today, ChinaDiary & Media Ring. Nope! I did not sell my first batch of MediaRing, i added more today. Both counters had registered high volume breakout and true enough, a scan on my XpertTrader confirmed that. From the list, I observed SPH had cut above it's 200MA! Sunshine days coming for SPH fans! 200MA support at 4.14. Also, I saw Datacraft beginning to be active! With a hammer on the weekly chart last week, if this Friday it closes with a white candle, it is a candlesticks reversal pattern on the weekly chart.

STI is within 18 points to 2665, the high in May'06! 18 points is easily achievable! We rebounded off the gap resistance turns support. ShowTime!!! Sheng sheng sheng!

Another thought, with splendid performance by Ezra, Labroy & KS Energy, will SembMarine starts to move soon too? hmm...

Interesting Results from XpertTrader Screening Rules:
Nearing or at All Time Highs
CGTech, Genting, HoBee, HongGuo, Jaya Holdings, Midas, Labroy Marine

Position updates:
Capland, MediaRing, ChinaDiary, Cosco

Sector in play:
Property, China plays, Gas & Offshore

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

Market shaken by nuclear test

I would like to send my warmest regard to kim's mother. Ta ma de!!! I know market is looking for a pull back, but doesn't mean he has to be the catalyst!!! Now we won't know what he is up to next. Market will be cautious and very volatile just like HSI index today...swinging up and down in a single day. I have sold my Celestial at 1.59 (Bought 1.52 last week) when i first heard about the nuclear test. It is done to minimise my exposure to market should it decides to correct. Emotionally, i would hope to sell Celestial at 1.68, but i cannot let my emotions decide. I should know this very well. Especially during the last round where I had bought at 1.62 and the stock went to 1.68 and i allow it to retrace past me to sell at 1.51. Mistake in the market should not be repeated!

I would think the market merely reacted to the nuclear test and investors/traders took this as an excuse to book profits. Once reactions are over, bargain hunters will flock in, this will be the sign of a strong underlying bull sentiment. Something I will be looking out for. Otherwise I will be cautious. STI's pull back is only natural because we had closed the gap in May'06. A pull back to form a base will be very good for another run up. Let us watch what the market will be doing.

As for trading index warrants, I'm watching key support levels to be tested before attempting a call warrants. Otherwise, I will buy put warrants if we fail at the resistance again. These are the 2 areas safest for entry.

Due to the reaction to the nuclear test, tonight I am using XpertTrader to find out which stocks had declined with very light volume at 70% as compared to last 14 days of trading. Jaya Holding caught my attention. The price has been retracing without volume, i shall monitor for a base to be formed.

I then tried my candlesticks screening and found meiban and inter-roller. I will just watch how they close tomorrow and not trade them.

Position updates:

I still have in my holdings: Cosco, Capland, MR

Remember, do not give up on market just because it's volatile or bearish. The best opportunity is just around the corner.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

The bulls are back!

What a day! Actually yesterday was suppose to be as happening as today. Everyone was caught by surprise of the lukewarm response of Asia's market to US's historical closing. However the 120 points finishing by Dow simply changed the mood. The bulls are back! For the whole day, I have seen constant buying, firm price actions and any pullback is weak. Finally many traders & investors had started to believe STI is not bearish! But i'm afraid they took too long. I have heard many people giving up trading as early as August because they believe market should correct. By now we should all know, market has defied them. It is highly important that we trade the direction where the market wants to go.

I remember during my first class in May'06, market had just crashed, I have told my dear friends not to be discouraged! Market will go back up after the worldcup! I even sent my yahoo group a message in July telling them to stop watching football and time to catch some good stocks! For my critics, please read the May to Sept Archives before jumping on my back again. :P Then again in my strategy class conducted in September'06, I have shown my dear friends the chart of STI telling them there are still time to load up good stocks! I am not telling you all these to boast, rather, I hope to instill in you the confidence that in a bear market, do not give up completely! The leaders will soon emerge when you least expect it to and lead the reversal. Stick with the leaders and you will be amptly rewarded!

My shifu say to go light on this wave up the market. Reason is simple, plenty of people died around this top and one can expect plenty of selling to recover their money. Not only that, i always remember how i tried to ride into new highs and often times see my profits eroded with pull backs and corrections. Hence this time round, I unloaded a couple of my holdings to realise profits. The wiseman always said, "sell on the way up". Paper profits remain paper until I sold.

Position Updates:
Cosco Corp: Still riding For the record, bought at 1.31.

MediaRing: I know the price has been slipping, but i'm still hanging on, will decide again. For me, because I have multiple positions and my portfolio is nett positive. Hence I can still hold if
MediaRing doesn't act funny. Afterall, it's FA is intact.

HSI CW: I bought at 0.635 last week and unloaded today at 0.830. :D Song arh! So far, HSI has given me 3 rounds of solid profits. My strategy is simple, buy at support levels. Anything in between, don't trade! Have patience to wait for pull back. Direction is important here and choosing the right warrants with strike and time to expiry is important as well. This is shared in my strategy class, I hope you guys find it useful. : ) HSI may still continue to move up somemore...but it's only maybe. I remember AC asked me with a gain of 22%, why am i still not cashing out? That time, market moves towards my position and I had to bear the swings emotionally. Now, my plan is to keep milking this index and accumulate my capital. : )

DMX: Bought at 0.665 and cut at 0.655. On a rally day and DMX still can't ignite it's engine, I see no point in getting my funds stuck here and decided to move it somewhere.

UTAC: Bought at 0.715 and sold at 0.735. Tech stocks have obviously fallen out of favour and not in play. I will revisit another time. My job as a trader is make my money work hard for me and not get stuck in a stock.

Celestial: Got this babe when it tested 1.52 support recently. Upside is blocked at 1.55 and 1.63 for now. If China plays are in, this one surely will rock the roof!

Capland: Got the warrants for capland when it is teasing it's all time high.

It is highly risky to be buying right now. Please analyse extensively. For me, I will be waiting for a pull back to strike again. : ) Safer, easier to make money. Remember the all time favourite phrase, "When no one is buying, you buy. When everyone wants to buy, you sell to them"

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.

Ah Long Chasing Debt

I will work hard!

Market enters the choppy October

STI inches higher towards 2580, the big gap during May. STI at 2514 should offer very good support but 2486 should be a fantastic level to bottom fish...but i will run for my life if things turn sour there. Property again leads my volume screening. Looks like one of these days i will look to add a property counter to my portfolio. SPH's result should be around the corner. By the way, Dow Jones has been acting very nicely as it tries to scale new high. Pull backs along the way as it tried to make history. Our market has been pushing higher whole of last week, please expect pull backs. If the pull back touches major support lines, it maybe good time to load up!

As for Indices, my take is, they will open weak in the morning due to reactions from US market's retracement. The weakness should not extend after lunch. This is my anticipations. HSI key support will be the low it made at 17,277 or 17,300 thereabts. Major support will be found at 17,125.

Whereas for Nikkei, support should be the 16,000 levels. 16,141 is where the first resistance is.

From my XpertTrader screens, here are the interesting observations,

UTAC has broke 50ma support, price should rebound above the 50ma within 3 days, otherwise it will turn from support to resistance. Levels to watch, 0.760, 0.715, 0.705.

SinoEnv, Resistance level to watch 1.12, Support 1.00

SembKim doesn't look simple.

Silverlake, Support at 0.490, 0.470

Synear, 1.04 is the all time high.

I will be the trainer in the upcoming free XpertTrader workshop. I will be presenting key features and then introduce some of the XpertTrader rules that have served me well over the years. So if you are interested to automate your trading analysis as well, feel free to register for the free event.

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.