Saturday, October 09, 2010

DOW is at 11 000 now. Yeah ...

Are straight 'A's important? Haha

7.30 am : DOW closed at 11 006.48.

As market sentiments are still very good, many are bullish and gaining from market. At times we could be carried away. So, I will like to double check on my trades, making sure that I will exit(sell) as soon as this 'hype' is over ... many more are being lured into stocks now. GREED is around ... hence, FEAR should be checked.

KLCI closed at 1481.41 ... turnover is RM1.6b. i noticed that turnover has been consistently above RM1.5b. Perhaps EPF and local funds 'playing' with tradings and constitute to large proportion of the tunrovers. Also, many retail investors are in - for short terms. So, these are early signs of greed. Could this rally lasts till end of the year and we could see 1500 soon? Breaking 1500 psychological level will attract more 'investors' to move into equity. 'Hot money' is moving into emerging markets and KLSE is seen as 'cheap'.

Property-stocks : Many property stocks are running up. Last month I was thinking of Malton or APLand to play on the rally but I m too distracted and even forgot about my trading ideas on them. It has moved 20-30% up from the point I seen them. Not to chase them, which property stock(s) are lagging and we could 'safely' buy to wait for a 10% profit?

At the moment, Karambunai and many those less than 20cents stocks being used to lure ikan-bilis. AsiaPac, Tanco. Keladi and such are also in play. So, these are for punters looking for 'quick' bucks.

MKLand : At 0.330, inching up. Reaching 0.36-0.37 for 10%. Chart-wise, it could still move up 1 or 2 cents and resisted at 0.36. With RSI at 60, it wont be 'easy' to see the 10% soon. But, this is market ... a goreng-goreng kaki will come and push the price up. When the sentiments are good, with SPSetia pulling the property-index higher ... any XYZ or ABC will follow ... that will help MKLand to move above 0.330. MKLand is a good buy below 0.30(similar to APLand). That is what in my memory ... APLand at 0.36 now, could MKLand at 0.36 too?

Sunrise : Failed to move up from the point I looked into her last week. It is at 2.13. RSI at 50, consolidating at current level and resistance at 2.25 level. I llike it at 2.09, so queueing at 2.10 could give a better entry point. Breaking 2.25 will see .... yippeee ... the sun is rising again. CHANCES of moving up is higher than moving lower. So, it is NOT 50-50. But, if I need 10% profit, could it provide me that?

E&O : At 1.21 level ... already ran up 20% from 1.00 level. I do like th current consolidation level, it seems that someone is collecting it and waiting for push up the price again. Hence, for short-trade, buying at 1.20.

The top 10 property Developers Awards 2010

1. SPSetia
2. Sime Property
3. Sunway City
4. Sunrise
5. IGB
6. IOI Properties
7. I & P Group
9. Mah Sing
10. IJMLand

Warrants to stalk

1. AnnJoo-wb
2. Gamuda-wd
3. IJMLand-wa
4. KFC-wb
5. KPJ-wa
6. KYM-wa
7. QSR-wb
8. SEG-wa
9. SPSetia-wb
10. WCT-wb

p/s : I want to place Jerneh-wa but I m not so clear what is going on with Jerneh recently as there is a huge retracement in its stock price. Technically, it is a beautiful CT-long counter on Monday.

Tmr is 10.10.10 ... crazy celebrations around. I will see if I want to put the top-ten of whatever. See if I m free and not lazy to join the craziness of human-kind.

11.30 pm : University Malaya + Chinese Orchestra ... I have not been to UM for 15 years now, and graduated there 20 years ago. Today, I went to watch a nice chinese pieces. The feeling is very nice.

BP : AT USD42 now ... TELL me, where are those saying BP will collapse and all those negative views? At USD30 was a STRONG BUY when all those investors 'running' away. I was one of those headless chicken and sold for the loss at USD30. It is a good lesson I m learning. DO NOT listen to those comments and such ... listen to MYSELF and also just go against them. If they say all those negative points, more reasons to go the opposite direction as being a contrarian could benefit us. DO NOT LISTEN to those broker houses' reports, those Bloomberg jokers and definitely shouldnt listen to any of my readers!! Chances are high that they are wrong and still losing money.



Big Bad Wolf said...

Hi Teh,

I was one of the commentor who earlier said that BP could go furhter south when it was trading at USD30-ish (that time u said that u have gone into the stock).
It did go furhter south, but rebounded from USD27 and up he went.
Sorry if my comments has influenced ur decision making..

CP said...


Dont worry ... I m not refering to you or anyone. I m just pointing out to myself what I should do with my own trades.

I do take full responsibilities of my trades.


CH Tan said...

Teh, I have left MU 23 years ago, thus I am your senior, hehe,haven't have chance to drop by , how is the our Mu now?The last time I wanted to pay a visit was 15 years ago and was blocked by the security, now can enter freely?