I'm having problems pulling the trigger. It's about my futures foray. My mind is wounded liao. No matter how good my analysis is, I dare not pull the trigger. I get nervous when I give the order to my broker. What can I do? Should I see a psychologist? If you read the Market Wizard series, you will know that some traders do seek the help of the psychologist with their trading performance.
Advice are always given on what it takes to win: method, risk management and mind.
I felt that the order should be reverse: mind, risk management and method.
The mind is the most important part to train. To train means getting experience. No experience, no use. Good traders I guess will act without hesitation when certain condition arises. You train your mind doing something repetitively until it becomes a habit.
I have no problem in pulling the trigger for stocks. But for futures....big hesitation.
Friday, March 10, 2006
Saturday, March 04, 2006
Immediate downside
Looks like the KLCI is going down. What catalyst that will halt this? The report seasons just completed. The big cap are not earning enough for investor to push the stock higher.
Looking at the big 3, Telekom failed to overcome the downtrend channel. Maybank still in downtrend. Tenaga can be consider to be long term trendless with downside bias.
In addition to that, oil is slowly creeping up building its base around USD60.
I guess no much upside. It is going to be a down month.
Hard to pick a stock in this type of situation. Stocks can suddenly come alive but also die suddenly. Very short term strategy is required for this type of play which I'm not good at it.
Last quarter results shows that E&E sector is having good profits. Will the momentum keeps going on? The leader of this sector is LKT. Who will follow next? D&O? Gtronic?
If oil goes up, will the O&G counters follows? KNM is the darling of this sector. Who will be next? Sapcres owe too much money. Profit not coming yet. Still in downtrend.
How about Oilcorp? Err.....it got new business in deep sea fishing. Food business is good. Everyone needs to eat. Oilcorp role will be to built the ships. Anyhow, the price has been slowly creeping up. Is something big going to be announced? The chart is good and Oilcorp should be challenging 1.01 soon.
Other O&G counters that I'm watching:
Scomi: Correction may be over.
Dialog: In consolidation. Cannot break 0.50.
Muhibah: In early stages of an uptrend. This one may be a winner, a turnaround story. The price is a little bit erratic due to the low volume.
What else to play? Mesdaq? I missed out Carotec. GHLSys is consolidating. Novamsc....oh this stock.....lost big but seems to have found bottom. The monthly charts says up. So what's the story? Another turnaround story?
All banking counters are not technically attractive except RHBCap. The upper resistance is at 2.55. Let's see whether it will overcome this, if not back down again.
Anyhow, if the KLCI goes down, then every counter will go down. So better wait and be safe until a clearer picture emerge.
Looking at the big 3, Telekom failed to overcome the downtrend channel. Maybank still in downtrend. Tenaga can be consider to be long term trendless with downside bias.
In addition to that, oil is slowly creeping up building its base around USD60.
I guess no much upside. It is going to be a down month.
Hard to pick a stock in this type of situation. Stocks can suddenly come alive but also die suddenly. Very short term strategy is required for this type of play which I'm not good at it.
Last quarter results shows that E&E sector is having good profits. Will the momentum keeps going on? The leader of this sector is LKT. Who will follow next? D&O? Gtronic?
If oil goes up, will the O&G counters follows? KNM is the darling of this sector. Who will be next? Sapcres owe too much money. Profit not coming yet. Still in downtrend.
How about Oilcorp? Err.....it got new business in deep sea fishing. Food business is good. Everyone needs to eat. Oilcorp role will be to built the ships. Anyhow, the price has been slowly creeping up. Is something big going to be announced? The chart is good and Oilcorp should be challenging 1.01 soon.
Other O&G counters that I'm watching:
Scomi: Correction may be over.
Dialog: In consolidation. Cannot break 0.50.
Muhibah: In early stages of an uptrend. This one may be a winner, a turnaround story. The price is a little bit erratic due to the low volume.
What else to play? Mesdaq? I missed out Carotec. GHLSys is consolidating. Novamsc....oh this stock.....lost big but seems to have found bottom. The monthly charts says up. So what's the story? Another turnaround story?
All banking counters are not technically attractive except RHBCap. The upper resistance is at 2.55. Let's see whether it will overcome this, if not back down again.
Anyhow, if the KLCI goes down, then every counter will go down. So better wait and be safe until a clearer picture emerge.
Sunday, February 26, 2006
Getting Whacked!
Wah lau eh! I didn't expect to see those type of messages in my comment box. I should have expect that these things will happen. I hope that it will not turn into chaos like the OSK forum.
Did I get whacked? Nolah, I only have a very small exposure to the chicks. For counters that didn't perform, they have not performed since day 1 I bought them. I give them a little bit of time, and if still not moving, out they go. Got to do "spring cleaning" now and then.
Talking of getting whacked, I meet 2 person that are out of the stock market since the last mini bull of 2001. They really got whacked, lose shirt and house! I talked to them, and the reasons I gather is:
- no system, just hamtam
- no cut lost
They were earning money here and there during the bull. One day can earn thousands. But when the party was over, they didn't believe it and still keep playing. The end result? They were out for good.
So after the CNY rally, we should have earn something. The important this is not to get complacent. If you let out your guard for a minute, you will get whacked.
What's the play for March? Sarawak election? Oild and gas still on? How about plantations? CPO seems to be going up.
Aiyoh, not easy to make money trading stocks. You need to strategize, think, act, think, plan, act .....it is endless. No wonder playing stocks part time is dangerous. You got to go fulltime. You need to think like the professionals. To become an engineer, you need 4 years of basic course and countless experience. To become a doctor, you need 6 years of basic course and countless experience. So does in becoming a trader. The only difference is there is no course for you to attend. The tution fees are the losses that you paid to the market. It is trial and error until you get it right. And if you ran out of capital before getting it right, then you are forever out of this game!
Did I get whacked? Nolah, I only have a very small exposure to the chicks. For counters that didn't perform, they have not performed since day 1 I bought them. I give them a little bit of time, and if still not moving, out they go. Got to do "spring cleaning" now and then.
Talking of getting whacked, I meet 2 person that are out of the stock market since the last mini bull of 2001. They really got whacked, lose shirt and house! I talked to them, and the reasons I gather is:
- no system, just hamtam
- no cut lost
They were earning money here and there during the bull. One day can earn thousands. But when the party was over, they didn't believe it and still keep playing. The end result? They were out for good.
So after the CNY rally, we should have earn something. The important this is not to get complacent. If you let out your guard for a minute, you will get whacked.
What's the play for March? Sarawak election? Oild and gas still on? How about plantations? CPO seems to be going up.
Aiyoh, not easy to make money trading stocks. You need to strategize, think, act, think, plan, act .....it is endless. No wonder playing stocks part time is dangerous. You got to go fulltime. You need to think like the professionals. To become an engineer, you need 4 years of basic course and countless experience. To become a doctor, you need 6 years of basic course and countless experience. So does in becoming a trader. The only difference is there is no course for you to attend. The tution fees are the losses that you paid to the market. It is trial and error until you get it right. And if you ran out of capital before getting it right, then you are forever out of this game!
Saturday, February 25, 2006
Range bound trading?
My reading of the technical charts for KLCI is rangebound. No up, no down. If this is the case, then the play for speculative counters will keep going on.
I didn't do much activities during the past 1 month as I'm having limited access to the Internet. No time even to update this blog.
Still holding a few counters. Constantly looking for better technical indicator to decide whether to sell a counter or not.
Looks like it is easier to buy, but harder to sell.
Currently reading Stock Market Wizard.
I didn't do much activities during the past 1 month as I'm having limited access to the Internet. No time even to update this blog.
Still holding a few counters. Constantly looking for better technical indicator to decide whether to sell a counter or not.
Looks like it is easier to buy, but harder to sell.
Currently reading Stock Market Wizard.
Sunday, January 22, 2006
End Of CNY Rally?
Oh boy, Nikkei drop like hell, now US also. Oil is going to challenge it's old time high. The market is still weak. Now maybe it will get weaker. I assume everyone has earned their angpow.
I have gotten out of Iris and Flonic already.
If the market gets any weaker, I have to get out.
Shares that I have:
Huatlai-WA: The is weak counter. Cannot run as other chickens.
OSK-WA: Still cannot break the downtrend line. Play over?
nscom: Technically ok but not superb. I'm going to get out of this counter.
Liondiv: Still holding. Looks good.
Oilcorp: Very erratic behaviour but still going up.
Ranhill: Any higher?
Maybe oil counters will rally if oil goes higher. I don't know. Lets see what Mr. Market has to say.
I have gotten out of Iris and Flonic already.
If the market gets any weaker, I have to get out.
Shares that I have:
Huatlai-WA: The is weak counter. Cannot run as other chickens.
OSK-WA: Still cannot break the downtrend line. Play over?
nscom: Technically ok but not superb. I'm going to get out of this counter.
Liondiv: Still holding. Looks good.
Oilcorp: Very erratic behaviour but still going up.
Ranhill: Any higher?
Maybe oil counters will rally if oil goes higher. I don't know. Lets see what Mr. Market has to say.
Saturday, January 14, 2006
Bursa Malaysia's Blogging & Forums
There is an article in Bizweek about the use of Internet for trading. The one that interest me is the proliferation of discussion forums and blogs.
Why do I start this blog? Well, I have no idea at all. I guess it was the “in” thing to have a blog. I wanted to stay in touch with the Internet and everywhere you can find people blogging about war, life, sex etc. So I guess that I just joined in the bandwagon.
This is never a serious blog, it is just for fun to past my time and to share some of my thoughts. I seldom write regularly. Only when I feel like it, then only I post something. I try to avoid promoting any counters because if I talked about certain counters, then I will be deemed to be promoting it. This is against the law as the SC is concern, as I have no investment credentials. I don’t want to get into trouble with the authorities. So, anyone that reads this, do your own homework. As I said before: Trust no one! Not even me!
Now what about forums? Most topics are nonsense and do not have any element of discussion at all. One forum even has become a war zone with name calling and flaming among the forummers.
The lack of discussion in our forums may due to the way we are brought up. From primary to university, our institution only teaches us to accept the truth. We are not taught the art of thinking. So we seldom discuss and explore other possibilities. And if we have any ideas, we just keep quiet because we are not use to voicing up.
By the way, do not think that the Internet allows you to post anonymously. It may seem that no one knows you but if the authorities wanted to catch you, it can be easily done. How? Through IP and MAC address. Yes, we do leave digital trails when we use the Internet. One possible way to overcome this is to use an “anonymous proxy” but theoretically it is still possible to trace you with a little bit more effort and determination.
Why do I start this blog? Well, I have no idea at all. I guess it was the “in” thing to have a blog. I wanted to stay in touch with the Internet and everywhere you can find people blogging about war, life, sex etc. So I guess that I just joined in the bandwagon.
This is never a serious blog, it is just for fun to past my time and to share some of my thoughts. I seldom write regularly. Only when I feel like it, then only I post something. I try to avoid promoting any counters because if I talked about certain counters, then I will be deemed to be promoting it. This is against the law as the SC is concern, as I have no investment credentials. I don’t want to get into trouble with the authorities. So, anyone that reads this, do your own homework. As I said before: Trust no one! Not even me!
Now what about forums? Most topics are nonsense and do not have any element of discussion at all. One forum even has become a war zone with name calling and flaming among the forummers.
The lack of discussion in our forums may due to the way we are brought up. From primary to university, our institution only teaches us to accept the truth. We are not taught the art of thinking. So we seldom discuss and explore other possibilities. And if we have any ideas, we just keep quiet because we are not use to voicing up.
By the way, do not think that the Internet allows you to post anonymously. It may seem that no one knows you but if the authorities wanted to catch you, it can be easily done. How? Through IP and MAC address. Yes, we do leave digital trails when we use the Internet. One possible way to overcome this is to use an “anonymous proxy” but theoretically it is still possible to trace you with a little bit more effort and determination.
Law of Probability
The number one rule for any trader is "Cut your losses fast, let you profits run". I didn't really grasp this concept until recently. I was implementing this rule half-heartedly. But after reading Market Wizards: Interviews With Top Traders by Jack D. Schwager, I finally understand the logic behind this rule.
The idea of this rule is due to the law of probability. Let me try to explain here:
Let’s say the market is fair, you have a 50-50 chance of winning (ignoring brokerage). That means if you make 10 trades, you win 5 and lose 5. Let’s say you limit your losses to 10% of your invested capital and your average profit is 20% of your invested capital. If you use RM1,000.00 for every trade, then your losses will be RM500.00 and your winners will be RM1,000.00. That means you still earn RM500.00!
So do you see the idea behind this rule? Good traders know that it is okay to make a mistake. The important thing is to get out of the mistake as quick as possible. Novice traders always think that to earn from the market, you must always be right and cannot make any mistakes. But to be right always will cost you dearly!
So now I have solve my problem of cutting losses. If I don’t like the way the stock is moving, I will get out first and restrategize later. The important thing is to protect my capital.
Concerning the second part, I think I may have an answer to that. To the “anonymous” user that suggested that I should not be trading, well, I’m going to prove to you that I can make it to the big league!
The idea of this rule is due to the law of probability. Let me try to explain here:
Let’s say the market is fair, you have a 50-50 chance of winning (ignoring brokerage). That means if you make 10 trades, you win 5 and lose 5. Let’s say you limit your losses to 10% of your invested capital and your average profit is 20% of your invested capital. If you use RM1,000.00 for every trade, then your losses will be RM500.00 and your winners will be RM1,000.00. That means you still earn RM500.00!
So do you see the idea behind this rule? Good traders know that it is okay to make a mistake. The important thing is to get out of the mistake as quick as possible. Novice traders always think that to earn from the market, you must always be right and cannot make any mistakes. But to be right always will cost you dearly!
So now I have solve my problem of cutting losses. If I don’t like the way the stock is moving, I will get out first and restrategize later. The important thing is to protect my capital.
Concerning the second part, I think I may have an answer to that. To the “anonymous” user that suggested that I should not be trading, well, I’m going to prove to you that I can make it to the big league!
Thursday, January 12, 2006
Ride Ur Winners!
Arrrggggghhhhh! One simple rule and I cannot stick to it!
Arrrgggghhhhh! Instead of earning 30% profit, I'm only taking back 10%.
Must make this rule a part of myself. Cannot break it, sit tight, be patience.
P.S. I'm talking about Media-WA.
Arrrgggghhhhh! Instead of earning 30% profit, I'm only taking back 10%.
Must make this rule a part of myself. Cannot break it, sit tight, be patience.
P.S. I'm talking about Media-WA.
Sunday, January 08, 2006
CNY Radar
I spent the whole weekend looking at charts. Looking at all the blue chips, their charts are not good at all. The prices are all high. With so-so earnings, how high can they go?
Anyhow, I think this CNY rally is more on the speculative counters.
Intersting counters are Tcubes, Impress, Vitrox, Nextnat, Oilcorp, BSLCorp.
Trying to breakout of downtrend channel are Dialog, Muhibah, LCTH, Cworks, Opensys, Gtronic, AirAsia.
Nothing good in banking, wood, auto, construction, property, steel and water counters.
Hmm....need to find out how to program Metastock to do auto scanning of my criterias. Bursa has too many counters and most of them are craps!
I am considering very seriously of investing overseas especially SGX and Nasdaq. Look at Google, from USD100 to USD450. Where can you get this in Malaysia? I guess too much protection makes our companies unable to compete globally. Without global market, how far can you grow in a small country like us?
Anyhow, I think this CNY rally is more on the speculative counters.
Intersting counters are Tcubes, Impress, Vitrox, Nextnat, Oilcorp, BSLCorp.
Trying to breakout of downtrend channel are Dialog, Muhibah, LCTH, Cworks, Opensys, Gtronic, AirAsia.
Nothing good in banking, wood, auto, construction, property, steel and water counters.
Hmm....need to find out how to program Metastock to do auto scanning of my criterias. Bursa has too many counters and most of them are craps!
I am considering very seriously of investing overseas especially SGX and Nasdaq. Look at Google, from USD100 to USD450. Where can you get this in Malaysia? I guess too much protection makes our companies unable to compete globally. Without global market, how far can you grow in a small country like us?
Thursday, January 05, 2006
CNY Rally?
I think that the CNY rally is in progress. Many counters have flashed the buy signal.
Currently I'm rebalancing my portfolio, cutting down stakes that are too high in certain counters and slow movers. I sold out Kurasia as it is too slow for my style.
New buy counters are Media-Wa, Mikro (not good), Nscom and Iris. Mikro turns out to be a bad choice.
I'm still holding Flonic (a normal correction or end of the road?)
Carotec seems to be interesting, is it in the progress of the next up wave (wave 3)? RHB consolidation seems to have ended.
I'm also monitoring GHLSys and Scicom. AMMB seems to have bottom out also.
Sapcres and Jaks are all just rebounding since the monthly chart is too bad. Waiting for the correction to make the next decision. However, Dialog looks set to breakout from the downtrend channel.
CPO seems to be making new high. The breakdown that I predicted didn't happened. Currently monitoring plantations counters.
Currently I'm rebalancing my portfolio, cutting down stakes that are too high in certain counters and slow movers. I sold out Kurasia as it is too slow for my style.
New buy counters are Media-Wa, Mikro (not good), Nscom and Iris. Mikro turns out to be a bad choice.
I'm still holding Flonic (a normal correction or end of the road?)
Carotec seems to be interesting, is it in the progress of the next up wave (wave 3)? RHB consolidation seems to have ended.
I'm also monitoring GHLSys and Scicom. AMMB seems to have bottom out also.
Sapcres and Jaks are all just rebounding since the monthly chart is too bad. Waiting for the correction to make the next decision. However, Dialog looks set to breakout from the downtrend channel.
CPO seems to be making new high. The breakdown that I predicted didn't happened. Currently monitoring plantations counters.
Tuesday, December 27, 2005
Bye bye 2005
Time flies, this is my 4th year in share trading and this is the worst year I had. I guess you can say that I'm in my own mini-bear situation. Many stocks that I had has reduced in value like the great Malaysian sales. Playing in 2nd or 3rd liner and warrants is a dangerous game. Dreams are shattered. Wounds are so deep it will take some time to heal.
I have change a lot since I first buying share. I started out as an investor. Turn greedy and becomes a speculator, suffered tremendously and now slowly becoming a smart trader.
I was out of work for a few months, it was a blessing in disguise. It gave me time to think what have gone wrong. I found out that it was due to a combination of wrong techniques, false hope, couldn't sit tight, short sightedness and refusal to cut lost. I guess that I was lucky as I didn't go bankrupt. I considere myself to be lucky as I found a technique that suits my style before all my capital is depleted. So now I'm crawling back, slowly getting back the capital that has been lost.
How effective is my new found technique? Well, lets see
Closed out winners: RHB, Carotech, Huatlai-WA
Closed out losers: Timecom, OSKvi, THGroup-WA, Carotech, MBFCorp
(I didn't list out losers that are due to previous bad techniques)
The amount won is slightly more that the amount lost. Well, I consider this to be good as the KLCI index has been sliding during the time I used this new technique. I have learn how to cut lost and now it seems that I'm already numb to it already. Bad trades are just like a organ with cancer, you cut it off so that it won't effect other parts (which is your ability to trade)
I'm still holding:
D&O (slightly negative, not yet reach cut lost)
Kurasia (enough to pay commission)
MTDInfr-WA (threatening my cut lost level, but still believe in my analysis)
Flonic (above breakeven)
Well, it is still a long way to becoming a good trader. I have no sifu, so everything have to learn from books. Currently reading two great books:
Market Wizards: Interviews With Top Traders by Jack D. Schwager
Trading Rules: Strategies for Success by William F. Eng
Very interesting books both of them. One new thing that I have learned from the book by Eng is that every trade is consits of 3 parts: analysis, execution and management.
Well I give myself a B in analysis, C in execution and a D in management.
That's why I missed out in Farmbes, LHH and should have earn more in Huatlai-WA.
Okailah, Happy New Year to whoever that is reading this. May we have better harvest in 2006.
I have change a lot since I first buying share. I started out as an investor. Turn greedy and becomes a speculator, suffered tremendously and now slowly becoming a smart trader.
I was out of work for a few months, it was a blessing in disguise. It gave me time to think what have gone wrong. I found out that it was due to a combination of wrong techniques, false hope, couldn't sit tight, short sightedness and refusal to cut lost. I guess that I was lucky as I didn't go bankrupt. I considere myself to be lucky as I found a technique that suits my style before all my capital is depleted. So now I'm crawling back, slowly getting back the capital that has been lost.
How effective is my new found technique? Well, lets see
Closed out winners: RHB, Carotech, Huatlai-WA
Closed out losers: Timecom, OSKvi, THGroup-WA, Carotech, MBFCorp
(I didn't list out losers that are due to previous bad techniques)
The amount won is slightly more that the amount lost. Well, I consider this to be good as the KLCI index has been sliding during the time I used this new technique. I have learn how to cut lost and now it seems that I'm already numb to it already. Bad trades are just like a organ with cancer, you cut it off so that it won't effect other parts (which is your ability to trade)
I'm still holding:
D&O (slightly negative, not yet reach cut lost)
Kurasia (enough to pay commission)
MTDInfr-WA (threatening my cut lost level, but still believe in my analysis)
Flonic (above breakeven)
Well, it is still a long way to becoming a good trader. I have no sifu, so everything have to learn from books. Currently reading two great books:
Market Wizards: Interviews With Top Traders by Jack D. Schwager
Trading Rules: Strategies for Success by William F. Eng
Very interesting books both of them. One new thing that I have learned from the book by Eng is that every trade is consits of 3 parts: analysis, execution and management.
Well I give myself a B in analysis, C in execution and a D in management.
That's why I missed out in Farmbes, LHH and should have earn more in Huatlai-WA.
Okailah, Happy New Year to whoever that is reading this. May we have better harvest in 2006.
Friday, December 23, 2005
LHH, Huatlai-WA, Flonic
I took the oppurtunity to sell Huatlai-wa. My intepretation of the chart does not indicate that it will go higher that 0.285. In fact 0.255 is the maximum retracement level before continuing down to under 0.20. I may be wrong. I realised that the mother share volume is too low for me to make any conclusion as it can be easily manipulated.
The movement of Huatlai is almost random. This chicken just jump here and there. I'm tired of this type of movement. Cannot analyse it properly, so better stay out :p (until better volume)
In contrast of Huatlai, LHH zoom up again. This chicken can really run fast. If you have tried to catch an actual chicken, you'll know that chicken can run really fast. The best time to catch 'em is in the evening when they are going to bed. It's my fault for not monitoring closely this counter when it was still not running. Anyway, it gap up and overbought now. If there is a correction to close the gap, then I will try to catch it. Otherwise, just forget about it. The risk is too high as I cannot set a proper stop level.
Concerning Flonic, looks like there is strong support for this counter and with good chance it can reach 1.00 (the actual target is 1.03 based on Elliot Wave + Fibonacci)
Talking about Elliot and Fibonacci, I just (actually yesterday) noticed that if the waves are formed properly, then with high percentage it follows the Fibonacci computed target (=- a few cents). Amazing isn't it? I guess the big boys are using it.
Oh yes, I finally understand Elliot wave theory. Still not good in drawing extended wave, but only the basic waves. I guess that it will increase my chances in share trading.
The movement of Huatlai is almost random. This chicken just jump here and there. I'm tired of this type of movement. Cannot analyse it properly, so better stay out :p (until better volume)
In contrast of Huatlai, LHH zoom up again. This chicken can really run fast. If you have tried to catch an actual chicken, you'll know that chicken can run really fast. The best time to catch 'em is in the evening when they are going to bed. It's my fault for not monitoring closely this counter when it was still not running. Anyway, it gap up and overbought now. If there is a correction to close the gap, then I will try to catch it. Otherwise, just forget about it. The risk is too high as I cannot set a proper stop level.
Concerning Flonic, looks like there is strong support for this counter and with good chance it can reach 1.00 (the actual target is 1.03 based on Elliot Wave + Fibonacci)
Talking about Elliot and Fibonacci, I just (actually yesterday) noticed that if the waves are formed properly, then with high percentage it follows the Fibonacci computed target (=- a few cents). Amazing isn't it? I guess the big boys are using it.
Oh yes, I finally understand Elliot wave theory. Still not good in drawing extended wave, but only the basic waves. I guess that it will increase my chances in share trading.
Thursday, December 22, 2005
Huatlai, LHH, Impress, Flonic
I'm changing my chicken target. Huatlai seems to have broke the uptrend support. So time to get out from my Huatlai-WA. But I just notice another chicken may be running: Leong Hup (LHH). LHH may be in the process of carving out Wave 3 with a possible target of RM1.75 (ok...I finally understand the elliot wave target :p). Is LHH moving up because of increase in chicken price or due to the private placement?
Impress got my attention also. Currently overbought based on daily charts. Waiting for the correction to enter.
Meanwhile Flonic closed lower today. RM0.90 could be the end of Wave 3 with correction to follow soon. Daily RSI is overbought. If it is possible to overcome RM0.90, then expect it to hit RM1.00.
Other counters that I am watching are OSK, Iris and N2N.
Merry Christmas to all that are reading this!
Impress got my attention also. Currently overbought based on daily charts. Waiting for the correction to enter.
Meanwhile Flonic closed lower today. RM0.90 could be the end of Wave 3 with correction to follow soon. Daily RSI is overbought. If it is possible to overcome RM0.90, then expect it to hit RM1.00.
Other counters that I am watching are OSK, Iris and N2N.
Merry Christmas to all that are reading this!
Tuesday, December 20, 2005
D&O and Flonic
These are electronic sector counter. Read reports that the world electronic industry is reviving.
From my intepretation of the chart for both counters, they are still in uptrend. D&O may be experiencing some consolidation now but long term prospect still good. Most probably good support at 0.50 region. The movement of this share is extremely slow. So lots of patience are needed.
For Flonic, it is in uptrend since day 1. The price keeps increasing even though the directors are reducing their stake. An entrapment?
From my intepretation of the chart for both counters, they are still in uptrend. D&O may be experiencing some consolidation now but long term prospect still good. Most probably good support at 0.50 region. The movement of this share is extremely slow. So lots of patience are needed.
For Flonic, it is in uptrend since day 1. The price keeps increasing even though the directors are reducing their stake. An entrapment?
Monday, December 19, 2005
Huat-beh-lai?
The "syndicate" is ruthless. The warrant price has been pushed down with great speed and I have no time to react to it. If I use the Elliot wave count, then the warrant high of 0.285 may be the end of the uptrend. It hit my stop lost and thus I have reduce some of my holding. I wished that Bursa Malaysia will implement an auto stop lost system so that speculators can have better reactions. Anyhow, I will sell the rest during the bear rally.
Huatlai seems to be resting at the uptrend channel drawn from 0.69. Since the daily MACD has moved into negative territory, I do not expect it to go higher in this week. However, if it can still close above 0.90 during this month, I will restrategize my plan for Huatlai-WA
The whole market behaving badly. Any rally should be treated as a bear-rally and it is a good oppurtunity to sell off losing shares.
Huatlai seems to be resting at the uptrend channel drawn from 0.69. Since the daily MACD has moved into negative territory, I do not expect it to go higher in this week. However, if it can still close above 0.90 during this month, I will restrategize my plan for Huatlai-WA
The whole market behaving badly. Any rally should be treated as a bear-rally and it is a good oppurtunity to sell off losing shares.
Sunday, December 11, 2005
Huatlai
[The chart will be posted when I can get proper access of the blog]
Seems like it has formed the reverse H&S formation and has broken out of the neckline. Closing above 1.00 will confirm the breakout. If close above 1.00, the price target will be 1.15/1.65. Daily RSI still not yet overbought but above 60. I expect more upside. Weekly RSI is still below 60. Thus, it is still too early to say that trend change has occurred but I’m betting on it to go higher. Immediate support is at 0.90.
Now, if the above happens, then my focus will be Huatlai-WA (RM1.00/ 27 Mar 2010). Weekly and daily chart says it is very overbought. If Huatlai can reach it’s price objective, then the warrant objective can be anywhere from 0.40 to 0.90. Immediate support is at 0.20.
Will this coming Chinese New Year, “huat” will “lai”?
I have some open position. My strategy is to add some more when Huatlai closes above 1.00.
Seems like it has formed the reverse H&S formation and has broken out of the neckline. Closing above 1.00 will confirm the breakout. If close above 1.00, the price target will be 1.15/1.65. Daily RSI still not yet overbought but above 60. I expect more upside. Weekly RSI is still below 60. Thus, it is still too early to say that trend change has occurred but I’m betting on it to go higher. Immediate support is at 0.90.
Now, if the above happens, then my focus will be Huatlai-WA (RM1.00/ 27 Mar 2010). Weekly and daily chart says it is very overbought. If Huatlai can reach it’s price objective, then the warrant objective can be anywhere from 0.40 to 0.90. Immediate support is at 0.20.
Will this coming Chinese New Year, “huat” will “lai”?
I have some open position. My strategy is to add some more when Huatlai closes above 1.00.
Saturday, December 10, 2005
Frequency of Trading
Well, sometimes I get a comment on why there are no updates for my blog.
The truth is with the system I'm using, there is hardly many counters for me to trade. That's why sometimes I don't have anything to blog about. I have found that by identifying which counter not to trade, I would have save myself the trouble of losing my money to the market and to my broker.
Trading less has it's benefits. It is less stressful. It gives you more time for yourself. That's what we want in life isn't it? We want to be free from the daily chores. We want to play golf, watch a movie or be with our family when everyone else is chasing and back stabbing in the crazy rat race. That is what I want in life.
So trade less and enjoy life!
The truth is with the system I'm using, there is hardly many counters for me to trade. That's why sometimes I don't have anything to blog about. I have found that by identifying which counter not to trade, I would have save myself the trouble of losing my money to the market and to my broker.
Trading less has it's benefits. It is less stressful. It gives you more time for yourself. That's what we want in life isn't it? We want to be free from the daily chores. We want to play golf, watch a movie or be with our family when everyone else is chasing and back stabbing in the crazy rat race. That is what I want in life.
So trade less and enjoy life!
Wednesday, December 07, 2005
Cut cut cut
I cut cut cut. Last week was bloody bad. What to do? Carotech, MBFCorp and Thgroup are out. They are not behaving as I expect them to do.
My analysis says CPO price going to drop. So plantation stocks will suffer.
New found target: Huatlai-WA. Another chicken run?
Added some Mtdinfr-wa. Capital announcement out. But price did not jump. Aiyah, how to sell?
Kurasia still behaving as it should.
OSKvi rallies after 10 days I sold them. Sial!
My analysis says CPO price going to drop. So plantation stocks will suffer.
New found target: Huatlai-WA. Another chicken run?
Added some Mtdinfr-wa. Capital announcement out. But price did not jump. Aiyah, how to sell?
Kurasia still behaving as it should.
OSKvi rallies after 10 days I sold them. Sial!
Saturday, November 26, 2005
Kurasia, Timecom, Oskvi
Kurasia: Looks like it has broken out from the falling flag formation. Daily and weekly indicators are positive. Good chance of going up higher. Strong buying volume (10,000 & 5,000 lots transaction) last week – is this an illusion or real fund buying?
Timecom: I have sold out Timecom with a lost after the weekly MACD drops into negative territory. My interpretation of this event is that more downside is to be expected. So finally acted on my mistake.
Oskvi: I have sold out this counter with a lost after the weekly MACD also drops into negative territory. My speculation was correct concerning the push up before the share consolidation but my poor execution of running away after it was relisted spell my doom (I was hoping for better price!).
Friday, November 25, 2005
Trust No One!
Can you trust analyst report and financial news articles. Definately a big NO!
Read the story at http://whereiszemoola.blogspot.com/
I think that a law must be enacted to prevent the same company that manages unit trust/brokerage to issue analysis report on Bursa's company. This people have hidden agendas. For their unit trust funds to perform, they need to sell it higher than their cost. Well, if all unit trust are equal, who will buy from them? The foreigners are too smart. This left the retailers. I got caught with Ghlsys and Novamsc based on their so-called "professional" report.
Well, never again! Their always positive reports definately will make you feel positive, pushing your inner self to buy. And wham...the next thing you know, the stock is at the tail-end of an uptrend. And you hope and hope that you can break even....until it becomes another expensive toilet paper.
So, stop reading analyst reports especially those from brokerage firms with unit trust funds.
As I learn from the X-files: Trust No One.
Read the story at http://whereiszemoola.blogspot.com/
I think that a law must be enacted to prevent the same company that manages unit trust/brokerage to issue analysis report on Bursa's company. This people have hidden agendas. For their unit trust funds to perform, they need to sell it higher than their cost. Well, if all unit trust are equal, who will buy from them? The foreigners are too smart. This left the retailers. I got caught with Ghlsys and Novamsc based on their so-called "professional" report.
Well, never again! Their always positive reports definately will make you feel positive, pushing your inner self to buy. And wham...the next thing you know, the stock is at the tail-end of an uptrend. And you hope and hope that you can break even....until it becomes another expensive toilet paper.
So, stop reading analyst reports especially those from brokerage firms with unit trust funds.
As I learn from the X-files: Trust No One.
Subscribe to:
Posts (Atom)