KLCI up 7 points. So, buying yesterday waa good.
YH : bought GenM at 3.26 level. I hope she will jot it down into her journal as of why she did not wait for RSI below 30 and at 3.20 level? You see, she bought 3.20 level before ... and the next day after she bought GenM, it touched 3.19. Queue at 3.20 could have been done. And RSI was at 27 then. Nice?
Buying on Thursday when we knew KLCI forming hammer. Many came in to buy today. I missed today and might miss tmr trading too. DOW up and above 12,000 now. O&G counters running again, Kencana, Dialog and Sapcres.
SPSetia-wb shooting higher again ... tmr might see more buying into SPSetia and wb. I am collecting SP-cc.
9.40 am : KLCI down by 4 points on profit-taking after a good run yesterday. Yes, time for last minute CNY shopping again ...
OSK is coming up with new CW for SPSetia. It is SPSetia-ce. It shows bullishness in SPSetia. I am still bullish on her too. Generally, I do think property-stocks will be doing well this year. I have added MahSing in my stalk-list after S.Dali wrote 'good' things about her. The investor circles will somehow buy into the stocks he wrote(and he liked). That will create a 'herd mentality' and hence, the trend. Yes, making trend your friends and those non-performing stocks will be sacrificed.
MahSing-cb : Grabbed her.
I am OK, tho I know it will take some time for the cloud-of-darkness to be cleared. Time heals the pain, so they said. At times, when we have expected an event, we are actually mentally prepared for it. It is the emotion that we have to deal with when the event really turns out to be what we expected or worse.
Lets say, we bought a stock and then ... when market down for more than a week, we expect our stocks to tank or correct too. No stocks will be spared in such 'bad' environment. We need to take action if we are going to cut-loss and expect it to move lower, and buyback at lower level OR to average down on our holdings. Majority of us will average down as we want to believe it will somehow rebound? So, we expect it to go lower ... we cant see the light that it will rebound. Everywhere we go or whoever we speak to SUDDENLY painted a gloom situation. Analysts will come out to give their reasonings(after all, the PUBLIC or we called them 'the herd') on why some stocks not performing or why market needs to correct. FEAR starts to grip us ... we SELL our so-called good stocks(were good 2 weeks ago, ok?) after it moved lower for a week!! Only to see it rebounds days later!!
Do read the article I copied-n-pasted about Herd Mentality as that is reality. Accepting that WE are the herds being slaughtered could be our FIRST step of not being in the herd. Recently, I have created a 'herd mentality' in my students who are following me. Three bought into IJMPlant-wa without questioning their buying(the theories easily swept aside due to 'guru' worshipping mentality - my sifu bought it, it cant be wrong ... I want to profit hugely like him, so I buy what he is buying la. wont wrong one ... blah blah ... a long mental chat justifying their BUYings??).
Yes, I created the 'herd mentality' in them ... so that I could POINT them out in their next class(will only be in April as we will be too busy). Those reading these lines could feel 'trapped'. How could my so-called sifu trap me in the 'herd mentallity' that he taught us? Hmm ... interesting.
Yes, I need to make them realise that following blindly anyone's buying is nothing different from those aunties/uncles buying. That explain too why many have strings of losing stocks in their portfolio, with HOPE that someday, they will be alive again.
This is my believe at the moment : In the midst of gloomy market, it lies opportunites. I believe this year to be a bull-market(Alex Lu warned that we are at the tail-of-bull) and the current deep correction is a point to accumulate. I think traders will be back after CNY as many taken their bets of the CNY table.
You cant be bullish two weeks ago and only feel bearish now, can you? Think of the direction. The direction is the trend what we need to guesstimate ... bull or bear? You decide.
Ok for today. Off .
May my father rest in peace.
p/s : Thanks again for the condolences.