Wednesday, October 06, 2010

DOW up 200 points ... shall we have a party in KLCI?

I will be glad to clear some of my CWs later.

Gamuda-cm and CIMB-cj in red.

GenM-cl and UEMLand-cc flat and Supermax-ca in green.

Mm oh my, since when I planned to have 5 CWs in hand? So, with DOW up 200 points, it is time to clear ... but as traders, we face the similar dilemma everyday, should I buy, hold or sell? Which one? When? At what price? Playing a short trade is like ... looking up the cloud and predict if it is going to rain or shine for the day!! Your guess is as good as mine.

But it you are INVESTING or swing-trading with knowledge rather than merely punting, your chances to grab a good trade will be much higher plus you will be on positive side!! KLCI so bullish ... we expect most already gain substantially, right? Nope ... statistic remains that 80-90% of them in RED.

How come? Because many of them STILL hold on to many counters which in the brink of de-listing. CUT-LOSS is too painful or they never want to face it that they are LACK of knowledge to be in market. If you think you are a smart-ass, think again. Markets will squeeze you, emotionally. In fact many doctors, engineers or lawyers supposed to be smart are those losing in markets! Teachers?? Teachers should remain teaching in classrooms, I believe. Market is a risky place, as many put it bluntly.

Yet, why would ANY sane people gambling their money IF the stats is true? Or are we trying to show/prove that we are the minority 10-20% gaining from markets? Are WE??

Putting ego aside is very important, in my opinion. We cant be doing well with EGO in our heads. I m analysing my own emotion yesterday ... a look into my trades showing that I m emotionally charged and that need to be checked.

Many may be too concern about profits and losing track of the risks. Hence, I m going to pull-back and sit on my profits. We do not want ONE bad trade to whip-off all our profits, do we?

Karambunai : Anyone still in the karam-ing ship? It is going below 0.10 soon. Back to 0.05? The winners of StockQuest are those lucky punters buying this stock. Pity, it defeat the purpose of trading.

8.15 am : I m in kopi-tiam today ... reading "Recovery Headwind". It will be nice to have some stock-market kakis around to talk about ku-piew and how they goreng this or that. Haha .... I might end up in kopi-tiam talking about stock-markets ONE DAY. Rumours or speculating on some news ... eh, you think that Syed will take MMC private ar?

Stcok to trade

Petra : could be a good trade but fundamental wise is in doubt.

ColdPlay - What IF ...

GenM-cl : Cleared at 0.185.

Kinstel : Cleared half at 0.93 as planned.

KLCI up 6 points.

10.50 am : Supermax cleared at 4.19 done. Supermax-cc waiting at 0.130 as I grabbed much at 0.12 and 0.125 yesterday when it was down. Bye Supermax, buy MMCCorp.

Petra : At 0.80 level

11.25 am : MMC done moments ago ... at 3.15, first level at small portion. It is OVERBOUGHT, so wait for it to retrace to grab more.

WCT-wb : Cleared at 0.59. Bought yesterday at 0.56. This is 5% in a day as I want to bring my wife for a nice dinner tonight! Hehe. As I see the momentum was strong yesterday, I PUNTed into it as the CHANCES is quite good that I could get a free-dinner! WHY SELL? It is overbought, I was a late-comer yesterday and besides, I didnt plan for this trade. So, it is using EA + PA = free dinner, luckily.

Supermax : At 4.22 and I think it could go higher. WHY SELL? Target of 10% done(bought 3.75). So, it is only to TEST my theories ... for learning and for experience test. We need to know what works, what doesnt ... dont worry, market is ALWAYS there. Why in hurry?

LEARN first ... profit later. Patient enough? I m giving myself another 3 years to be good in my trades, which I think I should be better than I m today, if I survive!

Supermax-ca : Cleared some at 0.130 moments ago. Waiting at 0.135, 0.140 and 0.145 for today to clear ALL. Mind you, I was greedy yesterday to grab at 0.12 and 0.125 yesterday, ok? Today ... kiasu ... up means be fearful when others in greed.

3.40 pm : Supermax-ca : 0.120 done? wow

5.15 pm : KLCI up again ... at 1480 now. That is the resistance level mentioned last Sat in CN meeting.

6.20 pm : CIMB-cj done at 0.155 today. Terrible, this is a new CW on CIMB. CIMB still in red ... hmmm ....

Gamuda-cm : In bad shape too as Gamuda retracing together with MRCB.

I have managed to clear half of UEMLand-cc at 0.315 for small losses. Now it is at 0.305, it is time to exit UEM-cc.

So, I do have Gamuda-cm and CIMB-cj which in paper-loss of more than 10% now. I do think Gamuda will continue its uptrend and CIMB will attract bargain-buyers. Hold on.

10.15 pm : DOW is flat and will be testing 11 000 points soon. I attended the talk in end of AUG by a sifu saying that DOW will reach 10,400 at most before a BAD DIVE ... and he advised everyone in the packed room to SELL all their holding soon before mid-of-Sept. I dont know how to trust him as he is giving another talk!! Perhaps he might say DOW will go all the way to 12 000 level, so BUY ALL OUT?

At least he said buying GLD for the ride on gold price. That I do know ... I wanted to move into gold-mining in HKSE but they have gone up 'too much'. I grabbed my fav ZhongWang last week instead This is not for trading as I bought at HKD4.90. It is at HKD5.20 now and overbought. It was trading at 4.60 level when I wrote a whole loooong page for her, dedicated to my only HK's babe at the moment. I will hold on this one till markets reverse.


1 comment:

takeiteasy said...

If this sifu collect entrance fee for the talk, i think people have the right to shoot his backside (mou liu thou !!) imagine if everyone cleared their MRCBs, Uemlands at the mid of Sept,... really 'char thou'.