Saturday, July 24, 2010

DOW up 100 points. A123 at USD9.42 ... see? I sold it, it jumped.

Going for RHB market talk later, and Chart Nexus meeting.

10.50 am : I m at Bangsar for CN's meeting instead. I had an extra class from 8am to 10am(for charity ... collected RM131 from them to be given to our charity club which going to an orphanage today!), and do not feel like going for the RHB talk tho I registered. That is something 'new' to me ... as I do not miss market-talks(free??!) ... but, I m taking a pause. I m attending the CN's meeting as I want to learn more from my trainer in TA, and ask him about my failures(Support and Hai-O trades). I have a clearance sales yesterday when KLCI up 9 points. I have only 2k units of Zelan to play with. So, I 'lost' about RM300+ from my clearings yesterday. The losses could be larger if not of my good&quick punt into Pelikan and Zhulian, but I still have net loss. What do we do when are losing in our trades?

To me, I will take in - and will analyse my mistakes tonight(after I ask my 'tutor' later) so that I could jot it down here or in my trading booklet. No one want to lose, including me(phew ... I m still normal! Haha) but it is the defeat that could make me feel stronger and more determine to learn. I m learning TA at the moment, and I m VERY slow ... I failed so far.

That explains why I will be very persistance in attending any talks or meeting organised by CN, after all that is a support they are giving us uncles/aunties who are struggling in interpreting the charts, the price-volumes action and the market psychology?

12.30 pm : Chart Nexus, Bangsar

I will like to write about EMH tonight. That will be in my learning corner for today. Those newbies or those still losing money in markets(despite KLCI reaching to its new high level) might need to underdtand EMH. I was reading Fred's book and given me the idea to share with others my beliefs. Perhaps those kind and know-how could give me some pointers on the efficiency of markets?

Dar Wong : In our opinion, it is worthwhile to wait for long-term investments as the global stock indices have shown their first leg down recently in Q2. The next one will likely erupt in 2H 2010 and it pays to wait while watching your cash sitting in the bank being safeguard by the banks as your money-janitor!

Chart Nexus's meeting

Support : Hit resistance at 1.56 with bearish candlestick, actually. So, I should SELL it the next day before reaching my cut-point at 1.47 yesterday where I took the loss. Failing to identify a bearish candle-stick was my main mistake as I was trading using MACD alone. Well, next week I could add in MACD + RSI + Stochastic + Candlestick. Later on, I shall add in BB(Bolinger Bands). I will add ADX too ... I m tooo slow in my learning!!

KLCI : Support at 1332, at resistance now, waiting for breakout to next resistance at 1380 level. MACD 4R1G seen. Breakout on Monday??

Stocks discussed : Incken, Bursa ... zzzzz .... SUNWAY.

Sunway was mentioned and the conclusion is a BUY. As I was bored with the meeting, suddenly I was alerted - SUNWAY. Therefore, I shared with the 30-odd CN's coursemates my opinions. Ooopss ... it is like I m picking Sunway as a BUY and many of them(as blind as a herd of sheeps) might jump it and NOT knowing when to sell? Hmm ... I think I need to remain keep quiet as I m exposing my identity. Hmm ...

Then, I wrote in the CN's forum(I seldom post anything there as there are too many sifus around there). This is my post. :)


Mentioned in the meeting(KL) just now. I could not upload the chart as login failed.

Yes, to share with others what I shared during the meeting and why I think Sunway will move up.

1. DOW up.
2. Construction sector in play.
3. It is lagging behind many contruction stocks which have moved.
4. Look into Sunway-wc too, it was up 5% yesterday. Normally baby moves first, then mommy will follow. Warrant players move into stocks that wil be in play.
5. This morning, RHBInvest got a market talk and many could download the reports by Mr Lim of RHBInvest. SUNWAY is the top value pick by RHBInvest for construction with FV at 2.35.
6. It is fundamentally a good stock.

I m just pointing on my opinions on Sunway. I m not good in TA or charts. So, please seek others opinions BEFORE you decide to jump in.

Good luck.


p/s : If you profit from it, I want my teh-tarik(as usual) but if you lose that is your risk. Fair?


Jordan Chan


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