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
China Bubble 2007-06-06 19:37:00 This picture shows a banner that said "Instead of Robbing, why not speculate shares". A banner right in the heart of a town in China
. haha Read more:Bubble
Decipher on Reservice 2007-06-12 08:23:00 Guys, i underestimated my Reservice this time. This time round, it's Monday to Saturday FULL day with Night training! Hence won't be able to write anything about the market. I'll be back 24th June 2007 Night! However I am still in touch with the market! Using GPRS, if you have a poems trading account, you can log into ur watchlist via GPRS to poems wap website. It's fast and the price quotes are not delayed! :D Those who are always on the move may want to set up this connection. : )Another piece of good news, my technical analysis course once again SOLD OUT! : ) Everyone must be trying to beat the GST hike!Next intake will be announced in due course.GrowMoney Growth FundCSCYongNamJasperPDCEquationNoble GrpSwiberStraitsAsiaAmara*No new trades done over last few weeks.Stay healthy, stay happy, I will be back! Read more:Decipher
Scale down positions 2007-06-25 08:56:00 I am back! It was a fantastic 2 weeks in the market where almost all the stocks were going up. Today I took profit on Amara and Equation in a bid to lock in some profits on the way up. Amara has a big gap up and I reckoned it will be closed and that is where i may look to load up again. Equation broke out on heavy volume and I opt to sell into this rally. It was decent profit and hence i decided to lock in. As for the rest of my holdings, i will be looking to sell if weakness appears.Earning season is coming up and it's time to look at companies that will report good results. Buy now and sell into the rally. It will be good for markets to pull back this week. This will make room for earnings play towards the upside. I also noted that we had very very huge volume transacted over the last few days. Average is maybe at 4 billion shares exchanged hands. This means there were more participation. I would flag the current market condition as high risk and hence will not be buying Read more:Scale
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Market Directions for a start 2007-07-01 09:03:00 A look at the STI weekly chart found bearish divergence in indicators. Market
may pull back further. 3458 should hold for now as we enter the earnings season. Nikkei will face resistance around 18223. As for HSI, 21052 to 21256 should offer very good support. DJ's support around 13,258 held steady last week. Resistance to beat will be 13,700 thereabts. I would love to see US form base around this level and that STI trades sideways to form a base. Trading sideways shakes out weak holders and contra players and we will have supply of buyers ready to enter the market when good earnings are announced. This said, the only time i will break my bank to buy more will be when I see support holds.Sector wise, without a doubt something is brewing with Yongnam. IR contract was supposed to be awarded by end of June but no news yet. From my XPertTrader screening, a specific industry came out prominently...synthetic leather manufacture from PRC. Chinasky, CG Tech and SinoTech. All showed buying inte Read more:Directions
Here without Dow 2007-07-04 09:36:00 Dow is closed tonight and hence we saw quite a fair bit of profit taking at closing. Notably construction counters. Tomorrow's open will be guided by Nikkei or any newsflow locally. I like intra week selling as it may set up a grand finish to the week. If you are curious, how come the quickpicks are so uncannily accurate, don't be. I never expect them to outperform the market. They are just stocks from my personal analysis where I think the risk/reward is good. Movement is just a matter of time. It is the responsibility of the trader to know when to execute. There will be times when we are wrong, times when we are right. What matters most is you win more when you are right, and u lose small when you are wrong. All these are part of a trading system. By the way, only 6 places are left for my class on the 14th of July! There is no reason for you to lose in a bull market. If you dare to click buy button, i urge you to join my events and let me share with you my system. At each ChartNexu
A Swiberish Good Time 2007-07-10 09:47:00 I am seeing bearish divergence in the indicators on STI's weekly chart. Also, the lacklustre performance of some of the bluechips caught my attention. Wall street has this saying, if the leaders are not leading the market, the second liners won't be able to lead for long. With this information in my mind, i shall be cautious. Bearish divergence is a warning siren. I remember not paying attention to this and got punished during my early days in trading. It is important to track how the market plays out for the rest of the week. It's either market pulls back for a correction, or it trades sideways to neutralise the divergence.Crude oil has silently climbed to US$72 per barrel! All the oil and gas related stocks could be in play. So are those from the alternate fuel industry. We opened higher and close lower today, this will certainly squeeze contra players. If market doesn't rebound in the next 3 days, more selling will ensue as contra players liquidate their positions due to contr
Case Study: Adv Hldg 2007-07-12 12:34:00 SINGAPORE: Adv Hldg finished the recent session with an interesting candle on high volume. It was observed that 20 Days Moving Average provides excellent support during the uptrend. The stock is stuck in the range between $0.53 and $0.57 for now. With RSI in oversold region, the stock is poised for a rebound. It will be interesting to observe if this stock can breakout.Find out what others think about here. My anticipations of the Market direction came true, I may have to sell one or two stocks to raise funds for another stock i am eyeing. It always make perfect sense to sell on the way up. Registration for Cracking the Stock Market Code Intake 16 is now on! I am terribly sorry to people I have to turn away as intake 15 was sold out 1 week before the event. Now that intake 16 is opened, I hope to see you there. Also, if you look at my upcoming events right at the top of the page, you should know why i am seldom online these days. It's a crazy July for me.... bridal shoot, renovations Read more:Study
GrowMoney Blog Privatised! 2007-07-19 11:00:00 Dearest all,Do not be alarmed by the new look. You have come to the right site. The story goes like this, I was offered to take my blog private and host on a domain instead of blogspot.... F.O.C! After weeks of negotiations, MOU was signed and today phase 1 launch! You will see more good stuffs on this site in the near future! :) Would you want a space to chart perhaps? or an alert to flag impt price movements? Soon...... Huat arh!!Today I sold ChinaTrans when Midas drop like a stone due to some negative rumour. It reminded me of the days when CAO got into trouble and the rest of the red army got whacked. I feel safer to hold offshore sector stocks for now and still favour them. The developer charge tax has got nothing to do with them. Hence they are innocent in the panic selling. With 70% cash, there is alot I can do. : )Historically whenever DJ is testing round numbers 11k,12k,13k,14k it breaks through for a few sessions and then retrace. Hence next week, i will watch for negative pr
Market flipped by the bears 2007-07-18 19:42:00 3 pieces of news rocked the market yesterday.1. Govt issued a new ruling to cool property sector2. US hedge fund went burst3. Rumours has it that there will be trading curb due to recent fanatic surge in penny sharesNow we know why property counters ain't moving recently despite STI goes into unchartered waters. Well what's new? Price actions always come before news. US hedge fund went burst is nothing new. So what in the world happened?Last night US showed some strength when it manages to close a small red. Nikkei had already gap up and rebound. We are poised to rebound too. Watch for strength in the rebound for clues of if this is just a blip in the uptrend. As for construction and property sector, i be watching how market react to the new ruling.I sold Noble, StraitsAsia, Swiber, Yongnam, CSC during the plunge yesterday. Even if market was to rebound from here, i have no regrets. As traders, the most important thing is to manage our risk and protect our profits. If everything is f Read more:Market
Bears tried, Bulls won 2007-07-23 09:51:00 I thought today's market will be a sea of red after the weak closing in US. Nikkei started as worse as it can get (-200) when we opened at 9am. There were indeed selling. However much to the delight of many, we showed strength and closed mixed with a tint of rotational buy ups.GrowMoney QuickPicksAqua-TerraCourage MarineHeetonPan HongTechCompI added LC Development and Yongnam last Friday. Perfect timing as constructions taking a breather today... #@!$!#@$%#$%#@#DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Read more:Bears
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Protected My Profits 2007-07-26 09:31:00 With US opening down almost 150 points, we are very close to breaking the support I concluded yesterday. Best scenario is for it to trade and form a base here. Current mood in the market is very nervy. Again the rally this morning was an opportunity to sell. By closing so much lower today, we look set to see a hanging man on the weekly chart. For now, I shall highlight what is going on from STI point of view.Summary of Observations lately:1) Index stocks got whacked2) Sector rotation was very fast, like dumping at rallies3) Every rally fails and got shot down4) Property stocks gone quiet since April and some even are in downtrendToday I took my profits for Hiap Seng when I again saw that there were broad market selling. This isn't normal at all. Tonight with wall street's huge loss.... tomorrow morning... no eyes see.. all I can hope for is not a big gap down for I know many people are still holding on to their shares. With blood being spilled in wall street, i'm glad last week I lo
Volatile Market 2007-07-25 09:18:00 Last Friday I was already preparing for a stormy week ahead and I observed the price actions with keen interest. Every rally was shortlived and sellers were out in full force driving prices to close flat or lower. I do not like this kind of action. Furthermore, I observed since the rebound, the market rotated very fast and quick as if prices were jacked up to offload.We had it easy during the last few months where stocks just flew up the charts. Now is the time where the informed market participants will be able to separate themselves from the misinformed. The question on everyone's mind (including mine), isit time to buy now? I must admit, it is very easy to be tempted by the "cheaper" prices we are seeing now. If i buy because I think the prices are cheap then I am not following my trading rules. Deep inside me, I know what is the consequences of not following my own trading rules and system. Also, I never forget what the great Livermore said in his book, "There are times to Read more:Volatile
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Price Precedes News 2007-07-31 10:41:00 I would think, we are not out of the woods yet. I'm gonna be patient and wait for the market to show me a bottom before I start to build my portfolio again. First rebound is nothing to be excited about. It's how the market test the previous low that matters. Things to watch out would be price actions, more selling or more buying. But before I build my portfolio, index is the other option where we can trade to cover paper losses. Last Friday my order for STI call warrants was not filled. I won't regret queing at the bid side and not buying from the offer side because it was an elephant spread and I will be paying higher premium for unneccesary risk. Market is always there, I will wait for another glorious opportunity to pull trigger.Tonight we shall visit two charts namely StraitsAsia and Midas to show you how price movement precedes news. I just hate this part of the market. The more informed always has this advantage over us small retailers. There are 2 ways we can protec Read more:Precedes
Technical Analysis Case Study on HSI 2007-08-02 00:40:00 When Hang Seng Index(HSI) broke through to 23,500 levels, it was observed that a negative divergence is forming on the Histogram. It served as a warning that the current trend is losing strength. Now, we are experiencing a global sell off and fear is in the air. Using TechnicalAnalysis
, let us look at 1 possible support level for HSI. As highlighted, we will be looking at if the orange trendline can turn from resistance to support. 50 days Moving Average is also nearby and we might see confluence of signals.You may also want to discuss about technical analysis in our forum.Global indices charts are available in our ChartNexus Charting Software.Download your FREE professional charting softwareDISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Read more:Study
STI Exhaustion Gap? 2007-08-06 07:48:00 Following last Friday's sell off in US, STI had a huge gap down which promptly broke the 3400 perceived as a strong support last week. We have now closed below an important trendline support. I observed that the closing today was at resistance turns support and also at Fibonacci 50% retracement, rebound can be on the cards. Hence I turned long one STI CW. One can feel despair, fear and panic in the current market with many decided to throw in the towel. I went long because i see this gap down a possible bottom. Otherwise 200MA here we come...DJ is now trading around 13,200 support and Fed's meeting is on Tuesday night. If only they hint about reducing the interest rate.....GrowMoney Growth FundJasperHLHPoh Tiong ChoonYongnamLC DevTiongWoonSTI CW*Added STI CW todayDISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Read more:Exhaustion
A concerted effort 2007-08-12 09:05:00 Central banks all around started injecting funds into financial markets in response to ease credit crunch. This sort of sets off alarms in my head. They didn't act when Bear Sterns went down. However, when BNP's suspension of 2 funds came to light, global markets sell off. It was long thought that the subprime bad loans will not affect the economy until BNP's stunner. Now the world is afraid that the worst fear may be confirmed. My thoughts were, if BNP Paribas can be affected and central banks are acting, there could be more nasty surprises coming. Isn't financial market interesting? When markets are soaring high, everyone is worried about the bubble in China. But guess what? Uncle Dow was the culprit that punctured the bull run. While I managed to side step the bears by liquidating my whole portfolio when I first detect signs of troubles using Technical Analysis, I am still caught by my initial positions to rebuild my portfolio. I went back into the market too early. I
Federal Chief Cuts Discount Rate 2007-08-17 19:56:00 We saw how the markets rebounded late afternoon and then at night, announcement came from US that Fed had cut the discount rate by .5 basis point. Is it coincidence? Or did the privelleged ones closer to information managed to move in first? Why did DJ rebound off 12,500 and close at 12,800s on Thursday night? Smart money also know where they should move price so that the confidence of the market will not be rattled. Hence I do not trade the market using guess work, i form my own opinion and act accordingly. Making use of Technical Analysis, I remain objective in times of panic and will enable me to trade a non random market. Market doesn't move in a random way, there are clues to where it will move and we should all have a Trading System to crack the stock market code. Source from http://www.federalreserve.gov, Ben BernankeIn June 2006, Ben holds interest rate hike and that set us off on a wonderful rally for the rest of the year. Now 2007, Ben cuts discount rate and many in the ind Read more:Federal
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Private Email Exposed 2007-08-17 04:02:00 Stupid, who shared his experience on the on-going turmoil in the shoutbox has emailed me to share a list of stocks to study.These stocks are deemed to be still expensive interms of FA. Here's the email.Thanks Stupid!Hi Decipher,I am STupId from your blog. Hope u can put up this list of stocks that L&S keep promoting and I simply can't see y we have to buy based on conservative FA. Everything has a price, I am not say DON"T buy FOREVER... but they should only be purchased when the price is MORE, much MORE attractive than now. Here it goes (in no particular order, just recalling from my head):Cheena Steel Trains (Midas)SIN-OH (Sino Environ)Strippers (Swiber)Red heart/Red star (HongXing)Red country (HongGuo)China Fertilizer (China XLX)YangZi(YangZiJiang)Lord of the YAN(Yanlord, even T**as*k was buying?? gosh, they under the L&S spell?)Love potion #9(JiuTian)Cheena Steel Balls (FerroChina, low margin n yet high valuation)ALL the LANs(capitaLAN, KEPPEL LAN, Shitty DEV, SG LAN... blah Read more:Private
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Support Levels for DJI 2007-08-16 02:46:00 Utilising Fibonacci, we can connect the low on early March '07 to the top on mid July '07 and we will get all the retracement levels. DJ has broken the perceived support at 13,228 points which was once the 38.2% support. We saw DJ trading above this support level during late July but this level has now given way. The possible technical support levels in technical analysis are as follows:200 Day Moving Average is at 12,813 levelFibonacci 50% Retracement LevelMajor Trendline support which is close to 200 Day Moving AverageDownload your FREE professional charting software or find out how to automate your stock selection.DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Read more:Support
Taking Actions 2007-08-21 09:08:00 As seen from my previous posts, I already had a plan and an opinion about where the market is heading. Over the last few sessions, I promptly executed my plans calmly as the market moves in the direction of my anticipations. My plan was to trim down on my stock positions and to trade on the short side.It isn't difficult to see that rebounds lately had always been a short and quick affair. There was no sustained rebound and this is ringing alarm in my head. Through the weeks, I have dumped my stocks on rebound. Right now i'm left with 3 stocks. Later I will explain the rationale of keeping these 3 stocks. Index wise, i profited from 2 directions in quick trades. 2 weeks ago, STI was supported at 3300, I long the CW and took a quick profit. Today STI tested 3300 as resistance and it failed during intraday, i went for the put warrants and before the end of the day took a quick profit again. HSI's incredible plunge from positive 1000 to negative is a warning. However, a quick check on D Read more:Taking
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Dow Jones for now 2007-08-24 05:07:00 The current price action brought DJI to a confluence level of upward fibonacci retracement and the top formation resistance. It was also observed that the downtrend line is nearby. RSI looks to be trading at the downtrend line. MacD indicator has a very interesting development. The signal line and MacD line crossed over during the last crash in March'07 and market recovered swiftly. This time round, we are at the same crossover point, the outcome will be interesting.Join us at SGX Auditorium on the 6th of September 2007,Profiting from the Bull and Bear Market. Click here for more detailsDISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Read more:Dow Jones
Unusual movement ahead of Ben's speech 2007-08-31 00:20:00 US futures lead global indices into a sudden rush as we close higher at noon. This is ahead
of ben's speech tonight. Judging from the buying, it seems like he may be annoucing something positive. But then again, it is never so easy. This week's actions has seen mostly buying interest, it makes the last few weeks of selling so forgettable. Over the past 2 weeks, I have managed 3 swing trades on STI and profited from the short side. I would have loved to sit on the put warrants, however, when trading the downside, i always remember this: Price when going down should be fast and furious. This is because of the panic and fear factor driving the price south in great speed. Hence when the market met with resiliency, I took my profits and wait to pounce again. I was very tempted to go long as the broad market seems to be having a field day. However, I never forget how easy it is to give profits back to the market and opted to stay out for now.Screening on my XPertTrader rule, I Read more:movement
守得云开，见明月 2007-09-26 08:53:00 Just as the title of tonight article suggest, patience was rewarded sweetly. After being frustrated by the market for no less than 3 weeks. The rotational interest went to the mid caps and also oil & gas sector. This round, I managed my emotions very well. Instead of acting out my emotions in the market, I fired away on the keyboard on Monday night. Managing one's emotions is very important in trading. I never forget, other than T.A, money mgmt and psychology are the pieces to the jig saw puzzle. I would have made the same mistake of the yester years should i have sold just because the stock doesn't move. All the expensive lessons of the past has served me well.I went on a shopping spree today and bought Genting alongside YangZhiJiang. With 5 stocks in my portfolio, i won't be in a hurry to add more. Instead i'll be looking to harvest. Genting's resilience caught my eyes and YangZhiJiang had a chart formation breakout known as inverse H & S.My Malaysia counterpart Mr Justi
Frustrations 2007-09-24 10:16:00 Over the last few weeks, i revisited one of the most torturing emotion known as frustrations. This feeling stems from being able to get the market direction right and yet the portfolio didn't generate any profits. The worst thing to do when emotion gets the better of me is to trade on impulse. The great Livermore said, when you are trading, it's important to have a stable emotional state and inner peace is very important. The wrong thing to do is to cut my positions just because they frustrate me. This is because from the charts, the critical supports have not give way. Nothing on the T.A side i had done wrong. I conclude that i was too early in the sectors i bought. Was it too early or am I proven wrong by the market? Also, to miss the banks and properties rally, i have only myself to blame. Yes, no one else, not the market, not the chng kay but myself. Because i was slow to react. I DID NOT pull trigger. I was retarded! If anything, the way i saw all the bad FA companies
Good Finishing 2007-09-23 10:22:00 Last Friday's closing is a show of strength as we see broadbased buying. Lian Beng closed significantly higher and many of the construction plays came back roaring. I too observed buying interest across the board. Construction and oil & gas plays has been quiet for nearly 2 weeks after they came out of the rut strongest. Banks and Properties followed after rate cut. Then we saw baltic sensitive stocks STX and NOL rock the charts. Mid and small caps went sleeping. One by one, punters favourite came alive and often times it was shortlived. Banjoo, Jade...C2O, Atlantac... It made me very tempted to hunt for the next probable old flame and punt waiting for chng kay to push up.I saw many stocks start to turn in my trading system. Good sign. I'm using a trend system and hence if i continue to see those signals coming up and those stocks keep going higher, it only means the market is trending higher. If I see those stocks with signals stop short in a trading range, i will know market is
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