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.
