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
STI 2700 is a thing of the past! 1970-01-01 00:59:59 Hello hello hello! STI 2700, who would have thought? haha There isn't much pull back before we break 2700 and that is really a surprise to many. As per my article last week, i am still fully loaded with stocks. While my anticipation of STI to break 2700 was fully correct! However not all my stocks moved. And guess what? My ChinaStocks are giving me problems!!! What's NEW??? They are damn tricky! Often times, they just give you a one day wonder. The more I look like China Shares, the more it looks like they are taking turn to rally. The rotation must continue otherwise I will cut soon. It is extremely risky to be buying anything at this level, if you must buy, make sure you are nimble. As explained in my strategy class, I noticed since 2004, there is a particular time each year where it is a must buy! Let us all be patient for now and I shall chart to your heart's content when i think i want to buy. Otherwise, i will be a damned fool for listing out stocks that I myself du
How deep will the retracement be? 1970-01-01 00:59:59 A poor GDP provided enough reason for traders to take profit and halted Dow's progression into the uncharted territories. I checked and found Dow's retracement can test 11,800. On the hourly chart of Dow, supported near 12,000. Let us see what unfolds on Monday night. The poor GDP could be the catalyst for a decrease of interest rate by Big Ben maybe?On the regional scene, HSI and Nikkei finished Friday's session on a weaker note. STI followed the footsteps as traders took profits in unison. I am one of them! haha I square off my HSI Call Warrants when the morning rally couldn't sustain and HSI was retracing along with the poor closing of Nikkei. This one is bought at 0.410 and sold at 0.475. Next trade was to close my Capland's call warrant. Bought at 0.170 and sold at 0.200. My reason for selling is because if STI is to retrace, Capland will definitely be involved. I will just wait for another opportunity to trade it again. Protecting my profits come first!Current Holdings:China
Market Massacred! 1970-01-01 00:59:59 As anticipated, market gave way. I did what I had to and cut loss on ChinaSun, bought 0.775 and cut at 0.675. Shit happens in life and it happens in the Stock Market
as well. Of so many stocks, ChinaSun has to be one of the worse hit by the bears today and most importantly, i must be the one holding it!! haha! I didn't like the heavy volume selling which broke the support cleanly. Only common sense is to run first. Losses are part of this game. I had learnt to take it in my stride. Looking back, if I had not sold Capland and HSI for profits last Friday, i will be looking like a damn fool. This was exactly what happened in the old days, where I hold on to stocks greedily and hope for more profits. Dudes, in the market, one need to grow up fast. You simply cannot repeat your old mistakes all the time. Remember what I said about ChinaStocks last week? If your portfolio is made up of 50% China Stocks, i'm sure you are bleeding badly. This group of stocks never fails to stun investors wit
Within a stone throw away from record high 1970-01-01 00:59:59 I tried to go short on Nikkei and failed on Tuesday. Bought at 0.255 and sold at 0.240 on Wednesday. The rebound in nikkei was weak and it went soft after briefly crossing into positively. Recognising the weakness and my eyes on Nikkei breaking the 16,200s support, i bought the PW. Tuesday ended with my PW slightly in the red. Wednesday opened perfectly with Nikkei down by 100 points, but things were different after 1 hour of trading and once again i saw Nikkei trickling upwards. After deliberating for a few minutes, I decided to cut loss on my Nikkei short. The logic is simple, human are driven by fear and greed in the market. If Nikkei is really bearish, the selling would have feed on itself with many people dumping due to fear. However that was not seen and it serves as a warning to me.Current Holdings: ChinaDairy @ 0.560MediaRing @ 0.360SembKim @ 0.655CoscoCorp @ 1.31TatHong @ 1.17 Midas is a stock i will be looking at. Breakout of $1 with volume caught on my stock screener.We had
Fully Loaded! Going for goal! 1970-01-01 00:59:59 If you are wondering, why are there no articles? Let me explain, when I last blogged last Wednesday, market has been moving up for a couple of session and I feel a pull back should occur and I decide to hold back and wait for it to happen. It seems to be a wise decision because the risk/reward isn't great. The other reason was, it's the result season in US and I was busying loading up on call options and following the US news.Let me refresh my positions:ChinaSun @ 0.775ChinaDairy @ 0.560MediaRing @ 0.360SembKim @ 0.655CoscoCorp @ 1.31CapLand Warrants Strike 5.15 @ 0.170TatHong @ 1.17HSICW Strike 18200 @ 0.410As you can see, I have picked up quite a number of stocks over the last few sessions. TatHong was picked up by a new rule i developed to screen for very light volume retracement. It's FA is fantastic and hence I picked up. I had wanted Hongguo as well but my queue at 0.715 was not done and hence I decided not to chase. But Hongguo will be one stock I will load up once i dispose Read more:Loaded
, Going
, Fully Loaded
Tech Stocks rumble 1970-01-01 00:59:59 Tech stocks has been quiet for a long time. Today they started to breath fire. My XpertTrader scans for rotational plays showed plenty of tech stocks. GlobalTest, MemoryD, UTAC, Chartered, DMX, DataCraft. Buying tech stocks is never easy, highly volatile! My favourite would be DataCraft. Superb business growth, share buy back, yet the stock price has been in a depression. Weekly chart looks set to form a reversal pattern, price had kissed the 50ma.As for indices, i am still waiting by the sideline. North Korea has added tension in Asia Bourse and one would expect high volatile movement. For those who had the guts, you may try when HSI rebound off 17,700s level, this level has been retested 2 times. 3rd time lucky? But upside is capped at 17,867 thereabouts. As for nikkei, 16,400 resistance turns support. Let's see how this support holds.A key reminder, earning season is here! Lookout for stocks with promising growth!!!DISCLAIMER: This is not an inducement to buy or sell. Y Read more:Stocks
, rumble
The bulls are back! 1970-01-01 00:59:59 What a day! Actually yesterday was suppose to be as happening as today. Everyone was caught by surprise of the lukewarm response of Asia's market to US's historical closing. However the 120 points finishing by Dow simply changed the mood. The bulls
are back! For the whole day, I have seen constant buying, firm price actions and any pullback is weak. Finally many traders & investors had started to believe STI is not bearish! But i'm afraid they took too long. I have heard many people giving up trading as early as August because they believe market should correct. By now we should all know, market has defied them. It is highly important that we trade the direction where the market wants to go.I remember during my first class in May'06, market had just crashed, I have told my dear friends not to be discouraged! Market will go back up after the worldcup! I even sent my yahoo group a message in July telling them to stop watching football and time to catch some good stocks! For my cr
Market shaken by nuclear test 1970-01-01 00:59:59 I would like to send my warmest regard to kim's mother. Ta ma de!!! I know market is looking for a pull back, but doesn't mean he has to be the catalyst!!! Now we won't know what he is up to next. Market
will be cautious and very volatile just like HSI index today...swinging up and down in a single day. I have sold my Celestial at 1.59 (Bought 1.52 last week) when i first heard about the nuclear test. It is done to minimise my exposure to market should it decides to correct. Emotionally, i would hope to sell Celestial at 1.68, but i cannot let my emotions decide. I should know this very well. Especially during the last round where I had bought at 1.62 and the stock went to 1.68 and i allow it to retrace past me to sell at 1.51. Mistake in the market should not be repeated!I would think the market merely reacted to the nuclear test and investors/traders took this as an excuse to book profits. Once reactions are over, bargain hunters will flock in, this will be the sign of a strong un
Market shakes off Nuclear Threats 1970-01-01 00:59:59 Underlying strength is bullish! Bargain hunters stormed the market after US ignored Kim's nuclear test. I picked up 2 more stocks today, ChinaDiary & Media Ring. Nope! I did not sell my first batch of MediaRing, i added more today. Both counters had registered high volume breakout and true enough, a scan on my XpertTrader confirmed that. From the list, I observed SPH had cut above it's 200MA! Sunshine days coming for SPH fans! 200MA support at 4.14. Also, I saw Datacraft beginning to be active! With a hammer on the weekly chart last week, if this Friday it closes with a white candle, it is a candlesticks reversal pattern on the weekly chart.STI is within 18 points to 2665, the high in May'06! 18 points is easily achievable! We rebounded off the gap resistance turns support. ShowTime!!! Sheng sheng sheng!Another thought, with splendid performance by Ezra, Labroy & KS Energy, will SembMarine starts to move soon too? hmm...Interesting Results from XpertTrader Screening Rules:Nearin Read more:Market
, Nuclear
Cracking the Stock Market Code - 3rd Intake 1970-01-01 00:59:59 Learn the most effective Technical Analysis Strategies for the ever-changing markets in this one full day course (Lunch & Tea Break included). Our Trainer is a qualified Research Analyst from the investment industry. This interactive course (intake no. 3) will arm you with a 4-step trading strategy, obtained through practice, practice, practice. Cracking
the StockMarket
Code Building your First Trading Strategies (Intake
3)Date: 11th Nov 2006 (Saturday)Time: 9.30am-4.30pmFee: SGD180 *Enjoy a discounted price of SGD 162 for more than 1 seat booked.Venue: BayView Hotel, 30 Bencoolen Street, Singapore 189621Presenter: Ritesh Menon COURSE OUTLINEIntoduction to Technical AnalysisThe course will kickstart with an introduction to Technical Analysis and understanding the psychology behind it.How to identify TrendsWe will first learn how to identify trends. Trend is your friend! Learn how to identify and draw a stock's trendline and learn to trade along with the trendSupport & Res Read more:Stock Market
Eat Pig, Pay Dog 1970-01-01 00:59:59 Merril Lynch did it again!!! A report by them on Chinasun sent the stock rebounded fiercely back into the 70s! We have seen them done this a couple of times and they have done it once again. If I tell you i am not *tulan, I am being dishonest!HSI went crazy and barged into new highs! With US under pressure on Friday, I thought today's going to be a goner, but to my pleasant surprise... Ah Gu is back! Especially China Stocks, i have been noticing them, they seems like taking turn to rally.By the way, those who are not in my growmoney yahoo group, quickpicks are back!!! As of Sunday, I'm going to start sending quickpicks to my yahoo group. Here in this blog, I will continue to share my observations on the market. But i will still declare when I buy in the shoutbox wherever possible. Like today, I was at HDB hub for their walk in selection....no time to get online. But I bought my quickpicks. :D Not making money yet hor.... !@#!@#!@ they bo cheong...nevermind, maybe tomorrow!
Up, up and away! 1970-01-01 00:59:59 After a black Monday where the market gave away recent gains and threaten to drop south further, we seen 3 consecutive days of gains. Impressive! But also dangerous! It is always not comfortable to see too steep an incline...once the supply of buyers dry up, we will head south. This is exactly what happened at every market top. I'm tracking market volume very closely. Especially when there seems to be little fear and all greed, prepare your parachute.I followed a rule my shifu always shared with me, "Sell on the way up". I did so and cleared 3 positions namely Gallant bought 0.920 sold 0.975, JiuTian bought 0.950 sold 0.995 & ChinaDairy bought 0.560 sold 0.565 thus pocketing a very decent profit. All 3 showed signs of weakness and after 2 days of spectacular rise, it makes sense to take profit first. This is consistent to what I have done back in October when STI reached new high. Remember, no one can sell at the exact top. I will never forget the pain I went through during my earl
What goes up, must come down 1970-01-01 00:59:59 STI invalidated yet another reversal signal today by closing very high. But! The cracks were there, I saw many stocks struggling to close higher and the volume today is lighter. The recent runup is just amazing. After taking profit from 2 trades, I am now left with 4 stocks. To protect these 4 stocks against any sudden bear strikes, I bought a HSI PW to hedge. Should there be any major sell down, my Put Warrants will give me profits which offset my paper loss in the 4 stocks. If market continues it's upward movement, I will ride on my 4 stocks and lose on the warrant.I'll not be looking to add stocks. Instead, after selling my 2 shares, I have funds to fund my futures trading account! keke I reckon that should the market corrects from here, shorting the index will be a good way to make money. :PI am happy to announce there are now only 4 seats left for my Saturday's class!! I have prepared practise charts that will help you understand the theories better or better still, ask me dire
Market Pull Back! 1970-01-01 00:59:59 Nikkei left me stone cold. It reminds me of my principal who caned me for not following school rules. In my last article I jumped onto Nikkei too early. I should have waited for market confirmation. Nikkei broke support and I had to run first. I shall live to fight another day. I know the game too well to have stuck my neck out to hope for a rebound tomorrow. My lessons in the past taught me to always cut when the loss is still small. I was too early in buying and if I was right, Nikkei would already show me profits. The fact that it went against me showed that I was wrong in my prognosis and that the underlying strength is changing. Cutting loss will prevent a larger lost. Even if Nikkei were to rebound from here, that will be another trading opportunity on it's on and I shall not treat it as "it could have been a cheaper loss". Thinking this way will cause complacent in cutting loss in the future because "past" experience has taught me that stock can rebound.Market
has
Nikkei Acting as anticipated 1970-01-01 00:59:59 Following Tuesday's gains, Nikkei pulled back on Wednesday and Thursday offering a good chance to go long which I did. I had to because it is behaving according to my anticipation that it is forming a bottom on the weekly chart and I anticipate a white candle by Friday. I always preach to let the market shows where it is heading before we put our money on. Even when I was a young boy, following rules has never been my nature. That explains why my principal used his cane on my bom bom. keke GrowMoney QuickPicksBrightworldChinaDiaryUIC*Powered by XPertTraderXPertTrader Subscriber, MacD Histogram rule coming your way on Sunday! We will upload into XPertTrader Library for you to download and start using! Time to salivate! :D For visitors who are not yet a subscribers and wish to find out more, we welcome you to visit us on 21st Nov at our XPertTrader Workshop! Details can be found at www.chartnexus.com/events . Book your seats early as seats are limited. See you there!DISCLAIMER: Read more:Acting
STI climbs higher despite profit takings 1970-01-01 00:59:59 STI is nearing record high once again. How come i see so many unhappy faces? With market trading at highs, we should all be cheering happily. But really, profit
taking was the theme whole week and any rebound became instant profit takings. I sense there was no confidence in the market. Plenty of ulu stocks hogged the top volume. A sign i never liked. We all know the market is going to correct, but somehow i feel it hasn't happen yet. HSI if it doesn't close above 19,000, it risk a very bad candle formation on the weekly chart. Nikkei in contrast, could be forming a bottom on the weekly chart. Dow without saying is at another all time high. But what's the use? Rally by Dow has been ignored by our local bourse. But come to think of it, it is better this way because then we won't have exuberence and without that, it is unlikely market is going to crash big time.My strategy for the current market will be 隔岸观ç«, "Observing the fire from the other side of the river". I Read more:despite
Nasty Surprise from Celestial 1970-01-01 00:59:59 Celestial has been the talk of the town with it's surprising strong sell down today. On the contary, something seems to be brewing with ChinaHong. $2 stock now!!! Amazing! It goes to show how volatile china stocks are. Take extra precaution when trading them. Anyway, you will find that I have been very quiet lately. This doesn't mean i have stopped trading. I just acquired Gallant last Friday. F&N a stock shortlisted last Thursday moved up 8 cents today. I wonder if Gallant will disappoint me. Anyway, I have cut a number of stocks, Chinasun, MediaRing and Synear. Yes, Synear. Bloody hell!!! Today went up. It goes to show last week sell down was "man made". Tricky!Current holdings:Gallant @ 0.920SembKim @ 0.650ChinaDairy @ 0.560Cosco @ 1.31Midas @ 1.02Tat Hong @ 1.172 stocks i am looking at tomorrow:LongcheerSinoEnvWeak pullback with volume will be perfect entry for me. Otherwise, a quiet open may be another good opportunity to enter.Indices wise, I am looking at Nikkei f Read more:Surprise
The bad signs 1970-01-01 00:59:59 I took profit from FerroChina and added another batch of STI PWs. I didn't like the gap up yesterday and no follow through today. Indicators are shouting for reversal. STI hit trendline resistance. Trading volume crossed over 2 billion mark. Banks had moved... ulu stocks hogged the top volume.. it pays to be alert. Seriously, downside risk is higher for now. I will feel alot happier if there is some form of correction or retracement. Today's STI closed with a possible bearish harami. We need a black candle tomorrow to confirm. Let's watch on.No quickpick for tonight as I am not looking to buy any stocks tomorrow.My holdings:CoscoLao HongDBS PWSTI PWChartNexus's Cracking the Stock Market Code is enrolling it's 5th intake! It's affordably priced for those keen in learning the tricks in Trading from OCBC Analyst Ritesh Menon. Details can be found here >>> www.chartnexus.com/events DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my po Read more:signs
Red Bull 1970-01-01 00:59:59 Once again STI defied gravity and we are back into the green once again. This is a warning sign to me. The big retracement didn't happen and what we saw is firm actions. Hence I took my losses in DBS PW and the STI PW at 2700. It doesn't pay to argue with the market. I'm wrong in my analysis of a big retracement so I gladly take my losses while still small. I reckon that it is not going to happen in the near future and hence I took my losses first as i was too early. Instead I kept my STIPW at 2800 as it is near the money. In between I traded HSI PW for quickies. Market to me is range trading for the moment. Deploy your fishing rod at support and sell at resistance.I am still wary of a sudden correction and hence am not too aggressive in my buying. Prefering to watch my position closely.For those interested to learn Technical Analysis, please register here >>> www.chartnexus.com/events It's the last event of the year! Freebies like XPertTrader subscribtions up for grab Read more:Red Bull
Good CPI, Good PPI too? 1970-01-01 00:59:59 Can it be double happiness for US market? CPI numbers came in good and we are expecting PPI number on Tuesday. If that turns out good as well, u la la~~~ I have been stopped out of my last STI PW. Looks like this bull is very strong. Last week was a super good chance to drag all investors and traders into mourning but Ah Gu came back and lift us up. A check on the weekly charts of major indices globally shows that the trend is still intact and more upside could be coming.I have gotten a HSI CW on Friday after cutting loss on my STI PW. Also for the rest of the week, my strategy will be to buy on down days for the Capricon Effect.I have good news! GrowMoney group has the most members in the yahoo investment and trading groups! Our community has indeed grew alot of the past year. I hope as the moderator, I had served you well. : ) Cheers!And for those who missed my last Technical Analysis Class, mark your calendar, I will be kick starting ChartNexus series of courses and workshops with
Market got Thai *Hokkien 1970-01-01 00:59:59 Market was whacked on Tuesday by the stupid currency policy by Thais. They must have shorted the market! Because they reversed their policy at night! Maybe they are partying at some part of Bangkok last night? Why? Because as soon as they cover back their shorts, they went long! hahaha Thai market rebounded 11%!I sold my HSI CW which i caught last Friday. In theory, after a breakout of it's 19.1k resistance, there should be a pull back. Hence I took my profit and waited for the pull back. It came, but the pull back was hard and fast and sharp! This is news induced and hence theory was thrown out of the window. Instead, I related the incident to that of the Thailand Coup earlier in the year. I went with my view of a market knee jerk reaction and bought another HSI CW. I haven't sold yet as I see 19.4k possible target. Global markets are recovering from the Thai cock up and I think after the flushing, now we have buyers ready to step in after cutting loss.I am still not aggressive on s Read more:Market
, Hokkien
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