Monday, August 09, 2010

BUY and HOLD?? Think again!!

Stock to watch

MudaJaya : I m holding 1k units of it and will clear it due to lack of funds(allocating for TopGlove). The outlook is still uncertain. All eyes on SC. I wont mind sitting on it, it might DIVE further down or it might shoot very high, depending on SC. From the recent dive, we could see some insiders have been actively disposing their holdings BEFORE the bad news was out, and collecting it at RM4 level now. So, I believe the insiders already knew about SC's findings - a not so bad news will be out. Hence, the stock price might shoot up again. From that observation, I was so tempted and moved in on Friday. Too bad, I do not have enough funds.

TopGlove : Another dropping of 30 cents or so will see me buying more of it and stuck on it. Rubber could be sticky under heat, so I m glued to it. Hmm ...

JCY : It is hold and do nothing for me. I will see it below 1.20 to consider next level of buying? Or 1.35 to see me selling?

EAH : This is still do nothing, touched 0.535 but down to 0.500 level again. Clearing this one now I will only break-even. Unless there is an 'emergency', I wont be selling this one. I wont mind clearing if it shoots 8-10% in a day!!

As for KLCI, SIME is a stock to watch as it will pull KLCI down with her. Could plantation stocks continue their uptrend this week with plantation index shooting higher!!

9.15 am : MudaJaya touched 4.15 but back to 4.05 now. Hai-O retracing!! NICE!!

9.20 : Cut off Notion and MudaJaya for TopGlove. At 6.20 now. Wait at 6.00 now.

LionInd : Grabbed at 1.61 as all the lions moving.

9.35 am : TopGlove at 6.17, intra-day low so far ... Supermax at RM6.00, the top loser so far.

9.45 am : Notion dives so beautifully, and I have to cut it off. Not cut loss but TopGlove is nicer for me. Wont be buying until my TA says ... BUY BUY? Not bye-bye.

9.50 am : TopGlove at 6.14 ... wait!

10.25 am : JCY at 1.23 ... TopGlove at 6.12. looking at Supermax and Kossan which moving lower. But, my focus will be TopGlove. I might have to trim JCY for TopGlove. It is a shrp knife. OUCH.

JCY cut-loss at 1.22-1.23 some. I have chosen TopGlove as my main focus.

Rubber-st0ck is rubberish - Supermax, TopGlove, Harta, Latexx are in top-10 top loser in KLSE today!!

11.05 am : KLCI in red, I m wearing GREEN but my knives sharpen. I could accept that tech-stocks being hammered now, but why rubber stocks? So, I cleared with losses in Notion and JCY(still have half) for more of rubber stocks. Kossan and Supermax in mind, besides topping up TopGlove. Am I placing my eggs in one basket?

LionInd cleared too as I want to be a rubber-man.

JCY : At 1.20, touched 1.19. No buying till next buy-signal?

Trader's rules : CUT LOSS, sell the losers and let the profits run. So, I sold JCY for few hundreds losses but doing the opposite for TopGlove. That contradicts the rules!! That explains WHY I m not suitable to be a trader!!

12.30 pm : JCY cleared all at 1.19-1.20. I admit 'defeat'. I hope no one buying what I m buying? With Notion also in cut-loss, I have lost so many trades in this two months!! Hmm ... time to get away from markets and re-check on my health. So, I will continue to hold to TopGlove and will use TA to look into my next BUY level. At the moment, I m seeing support at 5.95 level. Will decide when it is.

Stock watch : Hai-O and Kossan. I hope I will DARE enough to move in into these when they 'hit bottom'.

MudaJaya : I just slapped myself for selling it at my cost price. It sho0ts to 4.50 now. Excuse me!

Anyway, my focus will be the rubberish sector which I still like. TopGlove leads the decline, today Adventa is diving. More to come ... so, hold on my bullets to shoot.

Follow the plan or lose money!!

Do not use the indicators - Interesting clip!! I think I was thinking like him previously and he was right - I m not anti-TA or indicators, but he is right. I agreed.

Think RISK before PROFIT

This is the best clip by him

I will write about what he said tonight.

FOUR STEPS : After Action Review

1. Identify what happened

2. What was good and bad with what happened

3. If I would do this all over again, will I do it differently?

4. Implementations?



elliott waver said...

tell me brother, is gamuda a buy if it go aboove 3.36?

CP said...


From your nick, I presume u r talking about TA point of view. If Gamuda breaks 3.36 wiht high volume, it is a BUY. That is trading using TA, break resistance with high volume, for uptrending stocks.

Is that a quiz? Can I get my answers?