Sunday, August 23, 2009

It is expected to be pull-back in the coming few weeks/months. Many are rushing into markets, but many are cautious and pulling out too.

Nicholas Yeo of Aberdeen being interviewed in Bloomberg and about his views on his holdings in China stocks. Few of his holdings : Standard Chartered, Swire, Jardine, Hang Lung, PetroChina, CNOOC, China Mobile ...

A good question was WHY he is NOT holding on Sinopec but Sinopec registered 900% profits in 2Q, so we are expecting Sinopec to be moving higher in these few coming days/weeks. I bought 20k units of Sinopec-c5 last week at 0.10 and still holding on to it due to this good profits news. Well, he said he is long-term investors, with 5-10 years view.

Sinopec : As investor, we should be buying good counters BEFORE the profits news out. 2 months ago, when Sinopec prices dropped from HKD9.80 to HKD8.60 ... thru JL, I asked him to consider to BUY, to ride on China's oil stock. At the same time, I was collecting Sinopec-c5(KLSE - call warrant).

China Mobile ... the laggard. At the moment, due to the 'bad news' on China Mobile, its stocks has been retracing.

Mr YC Chong, Aberdeen's investment director on Bloomberg now ... he recommends ST Eng, SingTel, OCBC and UOB. STE is a BUY for him, BUY when no one wants it. Good point.

Gold at 953 and oil at 74.

It is almost 8.30 am ... Japan and OZ up by 2.5% and Korea up 1.5% in early Monday morning trade.

9.30 am : Green morning so far ... KLCI up almost 9 points now. Jetson still in play!!

10.00 am : HSI points up ... time to clear.

6.05 pm : Sold Cnooc-cw as it shot up and bought Sinopec-cw when it retraces after the morning surge. For HKSE's cw and pw, I will take profits after 15%-20% gains. But, I have 3(2 cws, 1pw) which I got stucked with about 15-30% paper-loss. Will only top-up when HSI up/down sharply. HSI down, buy call. HSI up, buy put. It is NOT simple at all to trade these warrants as we need to accept 20%-30% losses in a week. It really shakes those who cant even accept 5% retracement in KLSE. Definitely not for normal traders who cant take huge losses.

11.35 pm : DOW up another 70points with oil reaching USD 75. I will agree that it is matter of time markets going to collapse .... SOON. So, as long as market still goreng-ing up, I continue to trim my positions. Too risky to hold on longer ... look at KLCI. It is up 10 points today, and we are going back to 1200 level soon. TOO SOON, in fact. So, I will be glad to wait for KLCI at 1050 level for my next entry ... no waterfalls for me to stalk?

Stalk : Muhibah, IGB, E&O, MMCCorp, Pelikan and LionInd.

Stalk : China Mobile

China Mobile still retracing and going below HKD80 today. Will look at HKD 75 level for the next support. If it retraces to HKD70 level, I will be ready to buy, unless there is a market reversal.


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