Thursday, December 21, 2006

The Pro

I don't know what to say. The pro trader Michael keeps coming back to this blog to give a word or too. If this blog is so bad, so what make him/her keep coming back? There is no information from this blog that are any used to him/her.

Maybe he/she has won so much money that he/she has nothing to do but to give "advice" to the novices. Boredom? I can imagine the sadistic smile in his/her face when I got it wrong.

Well...I know what will I do if I turn pro. Play the world market! The world is round. There will always be a market open some where. Why would I waste my time with stupid blogs? There are gazillion dollars/euros to be made. Indonesia has gained 200%, Nikkei looks like making a wave 3. India is still moving up. Shenzen is hot. Then you have the DAX, Nasdaq, NYSE....That is what I will do if I turn to pro.

Sunday, December 17, 2006


Weekly uptrend RSI has been broken. The chances of going down is higher than up. Where will it end up if it goes down?

1. 1060 (based on weekly 7EMA)
2. 1020 (based on 38% retracement)
3. 1000 (based on 50% retracement and weekly 30EMA)

Holding Power

What is holding power? I think to answer this question, you need to answer what is your time frame. Day traders has less than 6 hours of holding power. Contra traders has less than 4 days of holding power, medium term traders may have 1-3 months of holding power while long term traders may have have years of holding power. So depends on the type of trader you are and the period of chart you used, you will have different level of holding power. There is nothing right or wrong about holding power, it's only your perception of time frame. So analyze yourself and select stocks that suits your style.

For me, I have different time frame for different stocks. It depends on how much to I believe on it's fundamental potential. Some are only for short term play. Some are long term play. And some short term becomes long term :p

Thursday, December 14, 2006

Major or minor correction?

Got stop out of Favco and Nextnat. Nextnat is tricky, always last minute push up. What's up with this?

I have also sold out my Maemode-WA. Maemode seems to be not moving anymore.

Currently, the weekly RSI uptrend line for KLCI has been broken. More downside? Or just to flush out people like me?

Saturday, December 09, 2006

Misses and Hits

What a craze on bluechips CAs. Too bad I did not anticipate it. What will be the next craze?

Some of my sleeping counters are starting to move again. Wellcall...I missed out on adding more position. It moved too fast away from my stop loss. Stalking for the next entry point. GHLSys finally breaks out of consolidation range, hopefully more actions to come. Mems gives me a scare when it suddenly moves down...but recovered by the end of the week.

I manage to add some for Masteel. Maybe the next craze is in steel? Now, waiting anxiously for Measat. I pry that the launch will be successful. I added a few immediately when Arabsat was successfully launch (it took 4 full trading days for the market to play on this news....). Favco is more good to me this time (last time I have to take a loss). I also added a little of Media-Wa. Will Media go further?

Saturday, December 02, 2006

Bullish Sentiment

I never discuss about my share trading with my family. My parents never invested in stock directly. For them, it is too risky. The tried unit trust but the performance was terrible. So, stocks are not their interest. Well, the last time my dad mentioned about the stock market was when KLCI drop from 960 to 890 (May 06). He was concerned about my position and asked me to get out of the market. That time was around 900.

Today, my dad mentioned about the stock market again. He is asking me to hang on for more gain. He is getting very excited.

Hmmm...Should I do the reverse?