Owner: The Art Of Growing Money URL:http://growmoney.blogspot.com/ Join Date: Tue, 08 Aug 2006 10:24:58 -0500 Rating:1 Site Description: Welcome to my trading journal! A place where I share my Psychology, Money Management & Trading system on trading shares in the Singapore Stock Market. Fellow shares enthusiasts are welcomed to share thoughts too. I hope my posts will be educational to you Site statistics:Click here
Last Trading Day of 2006 1970-01-01 00:59:59 It began fantastically and is going to end in the similar fashion. Congratulations to all those who made money this year! : ) Those who lost instead of win, something is not right! Please do something about it. I am like you losing money in a bullish year before and if I can reverse the situation, so can you! I think throughout the year, I have sent only a couple of message to my yahoo group. It began in January where I pre-empted the move of property and banks correctly, then when market crashed in May, I highlighted ship repair sector to watch and a possible rebound in stock market in July and the latest message was to buy on weakness in the week leading to the last week of 2006. I am glad I have been helpful in your quest to GROW MONEY!2006 will also be remembered for my venture into public speaking and training for Technical Analysis. Thank you to all those who have attended my courses or workshops and I look forward to meeting the hundreds of you again in 2007! Huat arh!I Read more:Trading
Tension runs high 1970-01-01 00:59:59 After a splendid close to the year, we open the year 2007 on shaky ground. DJ closed down 88 points on Friday and let us not forget Wednesday it fell horribly from a high of 110++ to close up 11 points only. The inability to close above 12,500 is something to watchout for. A possible pullback could happen. I read the VXO index, we are now at the resistance level. If we break this level, US market can have more downside with possible support at 12,380 thereabts... if that gives way, it should be a spectacular end to January.As for the local scene, we are a small market and will be no doubt under the influence of US. What's in stall for HSI? After a mouth gapping decline of 400 points, Friday's actions seem to suggest bargain hunters stepping in. But do not mistaken it for strength, strength will be to see HSI break 20,500...if it falls short around there, we can buy PW. Will the bargain hunters be hunted tomorrow? We shall see. Trading volume for our bourse is very high and Read more:Tension
Keeping a cool and level head 1970-01-01 00:59:59 As I see my holdings sky rockets off, I admit greed grew in me. I began to envision that they will gap up everyday and when I am looking at the quotes, I am calculating my paper profits. Wrong Wrong Wrong! This is self Sabotaging. By counting the chickens before they hatch, my psychology will be affected and will eventual lead to reluctance in taking profits or worse still, let my profits turn to loss and do nothing. I know it too well because this was an old mistake I never want to commit again. I was tempted to click on the link to check my total portfolio profits but I force myself not to do it. Instead I spend the time doing my work and only check back once in a while to decipher the market sentiment and not just focussing on "wah my stocks fly!" "wah i make so much money" or "wah i so smart, i am very good" Believe it or not, i use to do it. What a stupid way to feel good! This is one way to lead to egoistic behaviour in the market. Back in those days, i will be very excited and w Read more:level
Market Bears the pain 1970-01-01 00:59:59 I thank lady luck for smiling at me today. I was left unscathed from the attack by the bears today. The reason is still not known as DJ had a decent close last night. The nightmare began when Nikkei swung to negative 200 early in the morning. Intra day wise my stocks like jiutian chinaenergy all gave up huge gains. I maintained composure by sticking to one of my rules to only decide the actions to take closer to 5pm. By 5pm, they recovered. STI one way ticket today is a real shocker. Although i expect a pull back after my study of volatility on Sunday night, i never imagined it to be such scale. We have now closed the gap that i'm so wary of. This is good as if the undertone is strong, we can move to greater heights from here. Now there are a couple of things to watch out for. STI must rebound by Friday for the indicator to show signs of life. 2865 is where the 23.6% Fibbo is. This could be the bearish target mid term. Otherwise, 2920 seems to be near term possible suppor Read more:Market
, Bears
GrowMoney Growth Fund Swings into profit! 1970-01-01 00:59:59 After losing money in the bull market in 2004, i looked stupid! How can anyone lose money in a bull market? 50% of my small account gone up in smoke.........it was devastating, how to climb back with limited bullets? The date was 17th Jan 2006, it was one of my good runs in the market and I started 2006 brightly. I began to show results after treating trading seriously. Fast forward to 11th Jan 2007, I have won back all my money lost in the market over the years with interest! I am glad that my hard work paid off. Looking back, it was quite a tough journey. Trading was never easy and I got whacked left right center for being egoistic, read a few books and think I know everything. Idiot! I find the most difficult thing in trading is not learning technical analysis, it is the psychology part that needs the most hardwork. How do you like seeing profit
s going up in smoke? Losing 7 out of 10 trades? Cut loss only to see the stock rebound upwards? All the books i read is abt in Read more:Growth
Bull Piercing Through 1970-01-01 00:59:59 Property counters made their comeback and lead the way. What happened here was it strayed and pulled back during the last few weeks and let the cheaper construction stocks made the limelight. After consolidated enough today most of them break out... Property counters dominated my system picks tonight.As my portfolio is already very stretched, i decided not to persue. It is very easy to be tempted to add more positions but i have to manage my risk. By holding too many counters, I am over exposed to any sharp pull back. Furthermore, work is busier these days. But boy am i glad that my portfolio continued it's explosive run today dragging me deep into profits. This is what i always wanted! A strategy that is effective for my small trading account and my limited time. Getting into high probability moves of good FA stocks and ride the trend. Trading index warrants is out of the question for the moment as i do not have the time anymore.GrowMoney Growth FundCoscoCorpTatHongChinaEne
Market Pulled Back 1970-01-01 00:59:59 Fwah with my hands full of stocks, it's really chaotic trying to read the price actions. Simply could not get a good feel. Anyway didn't have time to really look at them, only periodically checking nia. After a strong Monday, the market promptly pulled back. Alot will be depended on US tonight. But for US, it is a volatile week as well with a number of economic data coming out. If US goes green, all the losses may gain back tomorrow. If it's red, then i will be locking in profits.Pine that I bought yesterday pulled back with heavy volume something that i never liked. Anyway support at 0.570 should hold and we should see pine testing the upper downtrend resistance for a third try, break that, uptrend should resume. However if it breaks 0.570, the upper trendline channel will be broken and I shall run first. While i am deep in profits in many of my stocks, I shall not be complacent and sit on losses. Winners never sit on losses! If i'm wrong I need to manage my risk and not sit an Read more:Market
75% Vested 1970-01-01 00:59:59 Ah Ben is going to speak tonight, this is very key. Let us not forget how he's first speech send the market tumbling down in May'06. Market run up was partly due to the fact that it anticipates a cut in interest rate this year due to slowing economy. Last night PPI surprised on the upside but yet market didn't fall which it normally would. I smell a rat. Maybe market is anticipating friendly CPI numbers and music to the ears kind of speech by big Ben.I bought Amara yesterday to bring my total portfolio to 9 stocks and about 75% of my cash invested. I'll be looking to take profits on some of my trades, those in the money with good FA, i shall continue to ride the trend. My method of trading is base on daily charts hence buying at the lows of uptrend catching the resume of uptrend as it happens. That is also why you see most of the quickpicks are spot on. Just imaging swimming in the sea, it will be easier to swing along with the current. Some of course will be wrong and we will
Amara and 3 Free Lunches 1970-01-01 00:59:59 Found the title wierd? Well this is the story... last Wednesday, after buying Amara, I went to 4 friends and patted their back, "Lai ah Buy Amara! 0.450...dun say i no kai seow ah! By Friday will be 0.470 and next week 0.50!" and I keep repeating! Yes, in private i am as funny as you read here! hahaha 3 of them immediately bought and 1 of them thought i was mad. All were actually unsure but because they knew I am very passionate and commited to Trading, they just followed along.... Now I have 3 free lunches! wah shiok man. keke Next time all I have to do is kai seow them to buy along and I dun have to foot my bills for lunch! hehehe The price actions of Amara was very neat...a familiar pattern that I have seen before and when the market pulled back and Amara was intact, i know we have a chance. Couple that up with property and hotels in play, another strong reason. The best part was, IT APPEARED IN MY OWN QUICKPICK! So for now, I will continue to feed those dudes any trades i am on and
Testimonials and Pictures Of the Events 1970-01-01 00:59:59 lai ah lai ah! Testimonials
and Course pictures available for viewing finally! hahahaNow it's easier for you to decide to join or not to join.... hehewww.chartnexus.com/events Read more:Pictures
Taking profits on the way up 1970-01-01 00:59:59 This is the second time I posted with this title. Yes money is made by taking profits
and not just sitting on paper profits. I swung from massive loss to profit and more because I take profits off the table from time to time and reinvested when the opportunities come. I will be stupid to relax at one corner and everyday "wah wah wah my cosco, oh my jiutian, wah my amara" That is what market calls "falling in love with your stocks" This will paralyse you when the market turns! Beware!!!I was reminded that I should lighten up my holdings. With 10 stocks in my Growth Fund, if a bad event ala Sept 11 is to happen, I will DCS.....it requires at least 10 mins to key in the orders!!! haha Not to mention the risk of SGX suspend trading if lao too much, then all the money will be stuck inside!!! Hence today I took profit on PineAgritech and sold half of my stake in Amara. The rest of the trades still looks good on the charts and I'll continue to observe weakness and take profits accor Read more:Taking
Bulls or Bears, you decide 1970-01-01 00:59:59 The afternoon heavy selling caught everyone by surprise. I took profit on ChinaEnergy today further reducing my exposure in the market. Market has gone up quite alot and some form of selling is expected. Zuj was the funiest of the lot, coz' in the morning he mentioned about preparing amour to take on the selling! haha The question on everyone's mind will be is this it? Will the market finally collapse? We still have reasons to be up tomorrow, bargain hunters were spotted late today, budget day is coming, next week Fed minutes, Chinese New Year. Also I notice the pattern of the current market is, we pull back one day only for the bulls to continue. Nett Nett we have an up week. Of course this pattern will not be there forever, but with the conditions surrounding the market remain constant, i.e newspaper headlines, penny stocks in top volume, oil ard 55 bucks, HSI strong, US at new highs.... the pattern may continue. In trading there is no sure thing, you conceive a trading idea and ma Read more:Bears
HSI fails to sparkle 1970-01-01 00:59:59 It must be noted that although STI was up 41 points today, some of the individual stock has shown weakness. Let us not forget about the ugly closing on the weekly chart of STI, it serves 2 purposes. Either we have washed out the weak holders or today's high will trap more traders as we finish the week poorly. Wednesday's Fed minutes will be key for this week. Market has factored in on rate to stay. So it will just be their comments on inflation and their future outlook on interest rate that will cause reactions.HSI was surprisingly weak. Nikkei and SG was more positive. I am keeping my longs on HSI, still with a price objective of above 20,300. Today I loaded SeeHupSeng small, if proven correct, i will add on. Once again my holdings went further into green with Amara going ma ma mia! kekeGrowMoney Growth FundCoscoCorp @ 1.31TatHong @ 1.16JiuTian @ 1.05MediaRing @ 0.325Jasper @ 0.025Sinopipe @ 0.330 1st batchSinopipe @ 0.425 2nd batchAmara @ 0.450SeeHupSeng @ 0.470HSI CWActivitiesBoug
HSI showing true colors 1970-01-01 00:59:59 The weakness in HSI continued after a pause on Tuesday. The blood shed caused many China Stocks in Singapore to dips. I'm eyeing levels from 19,600 to 19,800 for strong support, breaks that, 18,000 level is possible. From a level at 20,600 , I have traded my position down to 20,200 to 20,300 levels. One thing I learn is not to sit idle and stare at a position gone wrong. I must learn to manage my position. I remain long on HSI. If HSI can rebound from here, objective level will be at 20,600 resistance gap. If market should give way, I will cut away my HSICW and somersault to PWs.Alot depends on Fed's minutes...with market giving no clues to what will be the result and stayed near record highs, this is the time to watch how the market reacts to Fed's minutes. Market gone up hoping Fed will cut rates this year. With Economy coming in good GDP numbers for the US, it means a strong economy where the Fed will unlikely cut rates. It will send waves of selling if they react to str Read more:true colors
Bears Gored Alive By Bulls 1970-01-01 00:59:59 All set to rumble!!! haha Wah all the bears surely gored apart by the bulls. Fed's comments was so friendly last night!! wah! They actually said inflation is contained!!! wah liew eh!!! Such a different tone from the past! New highs new highs!!! Another bullish sign, did you guys watch the news? A bull was roaming freely at some carpark in Japan! Is this a strong hint that Nikkei is going to rock the roof tomorrow??? hahahaThis has certainly been a volatile week! Instead of a black candle following a "shooting star" kind of formation, we are going to close with a white candle and it's new high once again. 2 weeks to budget day and CNY, don't bet against it... just follow along! :DMy trade on HSI yielded profit. I was tempted to adjust my position thus reduce my risk today. But since market reacted to the Fed minutes very well, the sell off this week could jolly well be a healthy shake out of fats and the bulls may run again. My target of 20,600 level for HSI looks achieveable f Read more:Alive
, Bears
GrowMoney Growth Fund Soared 45% 1970-01-01 00:59:59 By a quick count, GrowMoney Growth
Fund is up by as much as 45% since inception in July'06. This is slightly better than STI's 37% rise from July'06. When the market tanked May'06, i did not give up on the market for it is largely anticipated corrections and not a bear market. Economies are still sound. I cut my losses short and stood aside looking for signs of bottom and spotted correctly in July'06 low of 2319. At that particular bottom, i was very excited because it was a great chance to pick up strong stock with good FA and thus Cosco was bought at a great value! Greed got to me and I started to trade without my strict stock selection rules and my profits were capped. Then I traded HSI to great success by recording an averaged of 25% ROI in the 10 trades. I too thought I was just lucky to encounter this bull market. "Even the monkeys make money in a bull market" this was a statement I heard often. But it is not true. When someone make money in the market, the other
HSI 21,000 Boleh! 1970-01-01 00:59:59 Looking at DJ's chart, I can't help but notice the high probability of a pull back. It is very extended right now and any pull back is only natural. However the fact that it is defying gravity and holding up seems the bulls are not giving up just as yet. Underlying tone is quite firm. I further checked the historical charts and found a similar pattern on Mar'03. There was a strong bullish move which stretches all the way to Mar'04. The similarity? There was no pull back. Current move starts in July'06, oh boy...can we match the same level? I am researching further on the economy front and other characteristics of the market back then to conjure an opinion. Right now, target of DJI hitting 13,000 is within grasp. We can achieve that, but bear in mind, it will not be 1 straight line up.As budget day is drawing near, if STI is to rally, I should buy some STI components. That's why I bought Capitaland Call Warrants on weakness this morning. SeeHupSeng, a construction stock
Ranging Bull Awaken From Nap 1970-01-01 00:59:59 The selling today was very well absorbed and HSI did a wonderful reversal after lunch. In the morning it cheonged south at the opening bell dragging out China Darlings along. But after lunch, the spectacualr reversal happened and my target of 20,900 looks set to happen tomorrow!!!Alot of our shares in SGX woke up and cheong as well. I picked up AquaTerra today after the latter was found in my system pick and although i'm fully vested, i dug into my reserves yet again. I decided to risk some of my profits and own a piece of the oil and gas services sector. Now looking at my portfolio, I have property, construction, hotel, oil and gas, china plays and a HSI warrants. Fully loaded and ready to unload come CNY. From the talk last night, I picked up some pointers from the audience, alot of people had sold too early, some are losing money in this bull market, some are looking for quick profits and the most obvious signs of all, almost everyone knows that they should watchout for the bears a Read more:Awaken
Paring down holdings 1970-01-01 00:59:59 STI closed the gap today. When the day began with a tint of bear scent, i decided to do the necessary.....book my profits. I took profits on 3 stocks which I didn't like the charts after my comprehensive analysis on Sunday. They were hesistant to move up and are just slightly in profits. Hence instead of allowing them to swing into losses, I book my profits for them, leaving the stronger and deep in the money stocks still on the table and observing my protective stops. What I have done is to reduce my risk exposure as CNY approaches. The market will tank without warning and if i am spread across the market with many stocks, profits will diminish should a complete meltdown hit us.This week will be a volatile week with Economic data coming from US and Big Ben is going to speak on Wed & Thurs. Somehow, I have this warning alarm going off inside my head. It is wiser to be careful not to place any big position in the market before an important event. As for HSI, it opened low and closed
Chao Aqua 1970-01-01 00:59:59 Big Ben was friendly tonight and US has broken the 12,700 resistance... 13k looks possible for now. Now... we have a strong US market + Our own budget at 3pm tomorrow... I don't see why we cannot rally at least in the morning? My HSI 21k dream is alive once again. This after we close a possible bullish harami pattern pending a white candle confirmation tomorrow. With a 500 points decline on tuesday, the selling stopped and the major trendline holds out. If we can close a white candle tomorrow, Friday brings great chance to see HSI BBQ the shortists alive! I will stick to my plan for HSI as per decided over the weekend. As for the rest of the trades, i am still not adding aggressively and still looking to unload and relook.The pattern recently seems to be sell on news...and it has to happen to both my counters!!! pui! Check out the charts below.Chao Aqua.... the selling today is really disgusting, classic sell on news... here's my chart. While many placed their support at 0.540, mine
Happy Piggy New Year! 1970-01-01 00:59:59 Decipher wishes all investors a bountiful, healthy and happy Piggy
Year! May we continue to piggy back Ah gu all the way to STI 4000! Huat arh! : ) Also!!! Win more on the tables!! Big 4 Fortunes!! BlackJacks!! Best of all! Plenty of Aces when you play blackjack!! hahahaBefore I hibernate for the Chinese New Year
Celebrations and become a chng kay on the blackjack table, I want to record down my observations. Now I have 2 years of solid trading dairy, we all can revisit the old archives and we will know what had happened in the market and conjure up anticipations.Sesdaq had a beating this week as we see many stocks beaten down and only the index related are rallying. I suppose many retailers had the fear of a selldown after Chinese New Year and that they were cashing out their chips. This is particularly obvious on Friday, where it was observed during the morning the selling was very light in volume and then came mid day where chng kays come and sapu up shares at cheap. I too was caut Read more:Happy
Market Mo tuck Teng ah! 1970-01-01 00:59:59 Market has a broad based rally and STI is at a level which made all the bears scrambling to cover their short positions. STI inches closer to 3300 magical level. Amazing!They always say in trading, you must separate yourself from the crowd. I followed this philosophy last week when i detect retailers selling ahead of CNY, mostly not willing to risk their profits during the CNY. Analysts warned in their report of the impending stock market correction. I am also concerned, but experience taught me to plan and then execute only when the market gets there. I bought one stock when I see chng kay returning to sapu...wah heng i bought! kekeToday I bought Midas, although there was buy signal last week, because the risk of a correction was high, i did not dare try. But when I saw StraitsAsia went up like crazy, I know i have to try. Those who attended the Subscribers Session last week will remember 2 stocks were discussed, BengKuang and StraitsAsia, I bought BengKuang instead because I fear a s Read more:Market
When Trading Goes Sour... 1970-01-01 00:59:59 AquaTerra: Result was good and very good forward looking which is inline with the rest of the industry. However! Issuing of rights diluted the share price, market is factoring in the dilution. Technical point of view shows that rebound is in sight. The question is, is it going to be a relief rebound in price or a resume of uptrend? Watch On.Beng Kuang: Mistake here was complacency. The company did placement shares at 0.38 per share to private investors a day before I bought the stock. I did not do my due diligence and bought the stock solely base on Technical Trading
Buy. On the chart, I would expect the up trend line to hold and that a breakout of the ascending triangle is still possible. It's reporting it's full year results end of February. Watch On.
Over Staying at a Party 1970-01-01 00:59:59 Global market sold off with China leading the way. I have heard stories abt how the stocks in China are gapping up every day and that people are trading on margin until the authorities had to step in. Anyway I'm still reading George Soros book on Bubbles and boom, hopefully I can learn 1% from this genius day by day and be able to call a bubble before it explode. Also, I would like to remind myself how i overstayed at the party in 2006 and was caught in one ugly stock called Federal which chipped my profits for an otherwise brilliant 2006. Hence, i must be disciplined to act according to my experience and plans....not to be ruled by hoping that market can rebound...hoping that this is just a pull back. Any pull back has a chance to be creating a market top now simply because of the run up. Prudence!Indices like STI, HSI rebounded off support levels. Firstly STI rebounded off 20MA, this 20MA has supported STI in bad times for the last 7 mths. STI RSI also reached a point where w Read more:Party
A Historic Moment 1970-01-01 00:59:59 This is a day to remember. Market performed worse than SARs, 911 combined... this is second only to gulf war in 1991. Open gapped down so much at open that short selling isn't sensible, going long needs courage. This is a good lesson where i must record down. Dec, if you are reading 2 yrs down the road, I hope you are leading the life you dream. Remember, money was never your motivation, it is the getting there. Always remain humble and learn, never ever 快乐无人格.1) Never be over exposed to the market2) Meltdown can happen suddenly3) Never Greed . Always take profit on the way up4) Never buy more than what you can afford to5) In a panic sell like today, watch for rebound6) Ask not what had happened or going to happen, but ask what you going to do when the market gets thereThis selling is different. It is at the top. While many times when we have this kind of sell off, it is happening as a blow off move in a downtrend to reverse. Now I think we should watch out for bearish diver Read more:Moment
Middle finger to the bear 2007-03-05 15:42:00 Fool me once and it's my fault, fool me again and i'm the fool. When the market open down today, I know I have to get out of the market. Hence at open, I saluted my middle finger
at the bears and began selling. No way am I surrending all my profits to the market. I have conceived a plan to get out of the market over the weekend and I simple throw my emotions aside and sold like a robot. Gosh! and the market tanked half an hour later.... the feeling was like escaping death.My observations were:1) When market tanked last Tuesday, there was no strong rebound. Everyone seems to be waiting to sell at the next rebound. My thought was, if everyone wants to get out at rebound, who on earth will buy and thus cause the rebound? It then became clear that I cannot wait for the rebound. Another thought about waiting for rebound, everyone hope we can reb0und from 3000 to maybe 3200, but another possible scenario, we can drop to 2800 and then rebound to 3000.... by then I would have lost more! Also Read more:Middle finger
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