Thursday, March 31, 2005

Buy Ramunia

It is dangerous to catch a falling knife. You will get cut and bleed profusely. I am catching one : Ramunia. Ya, this stock has fall substantially. Seems that someone is pushing the price ever lower. I enter my trade at 0.885. The decision is based on 66% Fibonacci retracement level. I thought that was a good level as it was hovering at that level for some time. However, it suddenly dropped to as low as 0.84. The weird thing is that I didn't scare at all, just a little bit worried. With that type of selling, I don't think it will be sustained. Last minute push allows it to close at 0.875. According to my analysis, if rebound, then the target is at around 0.99 for 33% retracement. Hope my chart reading is correct.

Wednesday, March 30, 2005

Sold Avenue & Sapcres

Avenue: Finally sold off Avenue. Earning enough for my petrol. :((

Sapcres: Also sold half of my holdings for Sapcres. Going to test the support of 1.00 again

Tuesday, March 29, 2005

Work and Trading

A lot of work pressure today. Seems not able to concentrate on the market. This is affecting my trading.

Avenue: Queued in the morning at 0.70 to sell my Avenue. Seems like going to drop under the support. Didn't get the chance to sell. In ther afternoon, I just didn't execute it. Why should I sell at the support and not at the resistance? So hope throughout the afternoon that the support holds. Luckily still holds. Chart shows that it is still on uptrend after slight pullback.

Talam: Going lower. Alamak where is the buyers? Who is supporting at the last minute? Financial result will be announced soon. Good or bad?

Sapcres: Good result, no rally. Market sentiment really bad. Make a long-shadow hammer today. Most probably will go back to 1.04 support. I will try to sell off tomorrow to reduce my lost.

Sitatt: Never listen to rumour. That was what Jesse Livermore taught me. Someone will spread some rumour that a stock going to raise. From word of mouth, this will create the buy volume and then they will throw at you. Stupid counter, where is your MGO at 1.20? Anyhow, indicators shows that there will be a rally for this counter. Try to reduce my lost with this possible rally.

Saturday, March 26, 2005

Web Forum Shutdown

First it was going down. Now it is IVAdvisor. Most probably the SC is shutting down these websites. I wonder when will be pasarklse turn? Now my source of real information is all gone. You just can't trust the advice given by brokerage firm. What they say will most probably wrong 80% of the time. You buy, they throw to you. And you get caught with your money inside, failing to cut lost, you will die surely.

I'm quite good at reading the signals already. That's the easy part. Planning the trade, that is the toughest thing to do. When to enter...when to cut much one should chase the price with a safety margin...that is not easy. I seldom follow the buy call given in forums, I just use it to determine what is hot and what is cold. Trust no one but yourself. That's why stock education is very important. With it, you will increase your probability of winning. Without it, you will forever following the crowd. I'm currently reading "Market Trading Tactics" by Daryl Guppy. It was given to me by my girlfriend for my birthday. I guess she knows that the more I win, the more she can spend :p.

I hope the websites are up soon. Without it, life feels so lonely. There will be no connections with other traders.

Friday, March 25, 2005

Rebound Holding

Rebound still holding. Most analysis predicts that it will hit 890 and then headed back. Will it happen? Up or down, I hope to take the right decision in the Futures. Hard game to play. Lost terribly in here too. What will Mr Market do tomorrow?

Avenue: Profit taking today. Stop at 0.69. Most probably 0.70 will hold. Weekly charts shows that action is just the beginning.

Sapcres: got action again liao. Substantial holder supporting. Looks like the downtrend triangle has been broken.

AMMB: Oversold. Monitor. Should rebound at around 2.75.

Thursday, March 24, 2005

Rebound or reversal?

KLCI opened much lower today, an reaction to DJI. But was pushed up eventually. Nice reversal candle. Hmmm...looks like rebound will go to 890 and...maybe beyond because of bullish divergence.

Very happy today as the decision that I have taken yesterday turns out to be right.

Avenue: Rumours of restructuring pushed it above resistance 0.70, next resistance is around 0.77-0.79. Must be careful, since it is overbought.
Talam: Rebound. Will take any chance to reduce my lost for this counter.
Talam: Reversal candle. Should go higher.

Tomorrow, KLCI should go higher as DJI is expected to rebound from oversold position. Hopefully this is the journey to 1000.

Wednesday, March 23, 2005

Blood Everywhere!

Blue chips all kapuk! 3 speculative counter hit limit down: Suremax, Sanbumi, Fajar. Whole market in strong selling mode. Die die die. Or oppurtunity to buy cheap :D

Collected Talam and Talam-WA.

Talam: Hit support 1.03. May stop here or breakdown. Let's see tomorrow.
Talam-WA: Some support emerge from 0.135. Bought at 0.14. Hope for a quick rebound.
Avenue: Still holding.
KLCI: should rebound now. Oversold liao.

Tuesday, March 22, 2005

21 March 2005 (morning)

Down down down! Terrible market.

Ramunia: Aiyoh! Good news of winning contract but the stock goes down. Bad omen. I sold off at 1.24. Breakeven. My remisier must be happy because he is earning more than me :(

Avenue: Restructuring of GLC theme play. Broke the downtrend resistance line at 0.65. So I jump in at 0.67. Stop at 0.605. Weekly and daily chart shows bullishness. Resistance at 0.70/0.85

Saturday, March 19, 2005

Weekly Review (19 March 2005)

The government funds are supporting the index for Bursa's listing. Well, Bursa really got a good start with lots of 8s. However, the index finally goes down. Trendchaser spotted a H&S formation ( So KLSE index should go down more. Next support will be around 885. The following is my analysis for the counters that I'm holding ->

Ramunia (an uptrend stock, enter: 1.22, stop:1.05, target: 1.40): The candle chart shows a long shadow hammer, going to consolidation? But news of new contract won should push it higher. Hopefully it will break higher next Monday.

Sapcres (uptrend, consolidation, stop: 1.05): The major shareholder is buying back. Thus, support at the current level. The price is getting congested. Seems to be making a triangle formation. It will either breakout of this pattern with both ways. Hopefully up with major shareholder support.

Megan-WA (enter: 0.355, stop 0.345, target: 0.38): I'm not sure why I'm in love with this share. Maybe the share buyback of Megan will limit the downside of this stock. Anyhow, this stock shows good up/down trend. Can make some money out of it.

Talam-WA (downtrend): Win big, lose big. Not much life left. Can I break even with this chap? A local fund is holding some it. Will they come to the rescue? Looking for signs to enter.

Cutting lost is very important in trade. However, I always again and again failed to cut lost. The problem is failing to set proper stop. Now, all my trades have proper stops.

Losing counters: GHLSys, novaMSC, JSPC, Kejora-WA, Hil-WA, Hwgb, Sitatt, Kretam-Wa, Talam, L&G. :((

Potential counters: Mems (downtrend - got out last Friday with a small profit), Kurasia (uptrend)

My First Blog

What is a blog? Is it to express my thoughts, feelings and experience? Well, Im going to try to document about trading in Bursa Malaysia.

I have read all the theories: technical analysis, money management, fundamental analysis. I have read a lot of company reports. But I have lose quite a lot of money in the past. Terrible lost. What have I gone wrong?

I think that I'm too emotional. Emotional kills you in the stock market. It makes you buy even it is not a good choice.

I'm more discipline now. I keep my analysis journal. I use technical analysis to time my entry. The past one month, I started to cover back some of my losses. Well, I hope that it will improve further.