DOW up about 150 points. Gold at 1640 level. Crude oil moving to USD83 now. HSI was up 700+ points, lifted by oil-stocks. So, KLCI continues it rebound?
Morning ... today is Wednesday. Slightly 'free' to watch but Wed is my day to clear some paper-work. I will be having a meeting with my 3 turtles today to discuss how we could work together for the benefits of all. Yes, I m 'suddenly' being pushed to lead the group!! Hmm ... initially, I just wanted to teach 4 module of technical terms and simple usages - then, added one more module to make it 5 modules. Yes, need to add 'market psychology' which I will be doing for this Friday and next Friday. Then, seeing their enthusiasm to learn further than mere surface of TA-terms, I was thinking of turtles-meeting. I dont wish to use the word 'member' as I m NOT recruiting members!! I want to speak similar language, hence I want everyone to go thru the 5-modules and also read similar books that I did. Hence, I am slowly introducing some books to read besides "Fear and Greed' by Pauline Yong. Many told me it is out-of-stock!! Pauline, will you do something about that? Thanks.
My Trading Class
Those NEW ones who wish to be my 'turtles', well ... you are welcome. If you dont wish to wait for cohort-3(planning on Saturdays 2.30pm to 4.30pm), you may join either my THIS Friday class or next Friday. Fair? I will try to make arrangement for classes you missed, for example ... putting you with my coming new-Saturday class!!
From experiences, many will ask about it, then some at least tell me they cant make it or dont wish to join. Fine. There are still many who just dont even bother to reply. I think they just want to know some details ... no need to check much(a person comparing my trading class with Fred Tham's ... and I personally asked her to join Fred's!! Haha) .. mine the cheapest(about RM50-RM80 per class). No need to compare ... those professional classes are conducted by 'experienced' people with qualifications and mine is NOT. Haha ... theirs are nicely furnished with facilities ... mine is NOT. Haha ... I like these parts, actually. So, mine is just a cheap uncle-talk about stock-market. How to learn TA like that wor? Hmm ...
What is the advantage of mine? You get to know me in person, talking about stock-market till wee hours after classes!! Heck, u still need to bribe me teh-tarik for me to be motivated to stay up till late night, ok? Ask my poor turtles being conned many teh-tariks from me!! Haha ...
Well, after you paid thousands of riggits in those courses, you could attend their meetings or stock-picks!! Yeah ... get rich together time. In fact, many PAID the courses for the stock-picks or forums!! They are not there to learn ... even if they wanted to, they CANT comprehend much of those technicalities in few short days!! MANY given up. ASK THOSE ATTENDED the courses, ok? ASK AROUND. If you are going to pay thousands, dont you think so you have the right to SHOP around? I was told by few of my turtles their opinions about those courses. Personally, I have attended many 'free' talks etc etc ... and PAID thousands to Chart-Nexus to attend their course(I did only two days, they still owe me two days!! I will attend the other two days IF I could find the time!!). Mind you, I knew most of all the indicators BEFORE I attended CNX's course last MAY. Serious? You may read my postings in MAY 2010. Haha ...
I am tired of promoting my classes!! So, I will do with whoever I hv in hands and those requested for weekends as they cant make it on Friday nights. I have to shift a tuition class of mine to Sundays just to make sure my Sat noon till night I am free. Most probably I will be having the trading class from 2.30pm to 4.30pm, then plan for my turtles-meeting from 4.30 pm to 6.30pm AND anothe batch at 7.30pm to 9.30 pm. That is what in my mind and will discuss with my three 'pioneer' turtles of my coming classes and meetings!!
contact : email@example.com
Wish me luck .... see if my HARI-mau will roar further later!!
GenM : Missed her ... at 3.36 now.
IJM and WCT : Missed both of them too.
11.10 am : KLCI in RED and now in Green. What's up?
MayBank : Sold half yesterday at 7.96, bought back some this morning at 7.87-7.90(lower queues not done). RM7.96 is an important level to break for continuation of rebound. Take a look at SIME, failing to clear RM8.10 ... these are levels I will check for my stocks.
Look ... bull is running ... buy or bye? Many taking this 'short' rebound to clear their stocks, for profits or losses. Many WILL STILL hold to their bleeding stocks and will think that PAPER-LOSS is not a loss. Sigh ... I hv been telling many here, and I will knock these theories into my turtles head. Their 'cover' might be hard to crack but the turtle's heads are easier to penetrate? Haha ...
11.55 am : Going into lunch now ... sold MayBank at RM7.96. Have something in mind ... HSI in red, down 200 points. I am very cautious these days. Hmm ...
KLCI still staying at positive zone ... perhaps for a while?
Excellent sharings by Dali
Dali : How does one become a better than average investor, don't even say super market player? I doubt very much one can be great by studying the books. I mean we get tons of super brainy people graduating with honours in corporate finance and/or MBA all the time ... and say these people go on to study religiously the ways and strategies of Buffett, Soros, Graham-Doddsville, Ben Graham, Peter Lynch, Bruce Berkowitz, etc... - can they then be superior investors?
I don't have to answer that because the reality is for all to see, an emphatic NOOOOO. Investing is quite silly and befuddling. We try to regard it as a "subject" that can be studied, I mean if a person is brainy and wants to be a doctor, you will eventually be one by getting the degree, and if one wants to be a surgeon, he can go for more studies and training, and he will be a surgeon, he can be a better surgeon by learning all the time about the latest equipment and research findings and hone his/her skills .... you put in so much, you get so much output and benefits ... but the same cannot be said about investing, its not like you put in so much, you will end up a better investor!!!
TEH : Very well said as always ... not from me, but from someone everyone respected in our investing-circle. You see, investing and trading could NOT studied through books. talk to me about it, I studied so many books blah blah blah ... and still lose money!! Haha ...So, I shared with BL yesterday as he is VERY hard working in STUDYING .... markets do not work that as what the books you read!! Ask those VERY experienced in markets(I am talking about those open-minded and trust-worthy ones. Many are just salesmen selling systems or their training courses --- one of them is me! Haha).
That was also what I told JL, a medical doctor by profession. He said he is 'giving-up' to be a specialist to learn investing-trading!! And he is exceptionally glad to me my first turtle? WOW ... how is that? Can you pour cold-water to his dream? If you tell me he is not brainy, you are wrong. Being brainy doesnt help much!! In fact, it could counter-fire. It is a set-back being a book-worm!! Simply because I am not a book-worm, I m saying such? Hmm ... one day, those studied tonnes of books will understand what I mean ---- it is easier said than done.
I tried to explain to my cousin-bro who is an engineer(young). We cant really rely on 'mugging' those books and expect to do well in markets. We are BELOW AVERAGE. So, that is why I am always pointing out I am a NOVICE. And splash it to my turtles ... if I am novice, where do you all stand? PIAK. That is what most DO NOT want to hear. They are here to learn to trade and get-rich? That also explain why I WONT get many students and many will drop-out. How the hell am I going to explain better that market is NOT for you? PIAK again ... can you last 5 years of losing while learning? Can you face the facts that TRADING is not for majority of us? Then, WHY spent another few THOUSANDS to attend those technical-analysis courses?
You attend my first class, I tell you some truth ... splash some cold-water and you will understand that I have saved you thousands of riggits buying a more complicated softwares or charts!! Heck, many doing that, you must do too ... is it?
Enough said ... conclusion : by reading books, you will NOT be even above average investors. Then, we need to THINK how we could be an average? I do hope to be in that average trader, one day. Now ... stay in novice level and have some uncle-stock-talk. Haha.
Dali : For many people, we just want to beat the market consistently. Is that a futile effort? I don't think so. I believe there are many that can beat the markets consistently but must also be cognizant of a few truths:
h) Woulda, coulda, shoulda ... stop thinking like the people talking rots at kopitiams because those sentiments will never get you anywhere and always uttered by people who will fail at most things they do in life. Learn, keep learning, give yourself the integrity of bypassing the "woulda, coulda, shoulda", move on ... what you did not do means diddlysquat to you and to all.
TEH : In my first class, I remember I have an aunty-turtle ... she will say 'hai-ya ... hai-yo ... ". Then, I stopped her and asked her to listen to herself. Those could be used in kopi-tiams, those FORUMS, those novice-investors ... and I even always hear such in CNX's meetings. Those are NOT productive. That explain why I dont hai-ya, I sold my XXX already, that fellow shot up like helllll ... or hai-yo, I bought liao hor, it comes down. Banyak sial punya market. Haha ... these jokes could be heard when I m making fun in MY OWN blog. But, u dont hear me saying such in person. If you are still those I SHOULD HAVE or WHAT IF kinda of person, you do need help. Nope, not from me ... go and see a psycho-doctor. He might be able to CONSOLE you. Yes, you pay him MONEY .. he listens to your hai-yo and hai-ya, then you feel good, he is happier(must be thinking how easy his job is ... the more market going down, he is happier!! haha).
If you are going into markets with such aunties-uncles mentality(OK OK .. I will include novice- yuppies, fair?) ... yes, if you tell me you are in markets for 10-20 years, I will sneeze ... err ... hai ya, I SHOULD HAVE BEEN there in market during the bull run in 1993 or hai-ya ... IF ONLY I am in market in 1997-1998 during market crash, I am RICH NOW. Hahaha ... still making jokes with those words.
Still thinking of the aunty who bought 30-penny stocks and hold for 13-years!! Hmm ... I told you so ... I am gaining money, I am the top 20%. Yeah ... hmm ... as if it is an exam that you need to show our grades to your daddy/mommy? Grow-up ... welcome to brutal markets!! Hai ya .... LOL
Dali : So, if you think certain books or courses can help you be a better investor, by all means do it, there is no magic "model" that is out there. If there is, you better believe that it will be selling for millions of dollars. Investing is a large unknown just like your brainpower usage rate, you might know 3% of the whole thing but if something can help you get to 4%, and improve your batting average, how can that hurt.
So, in the end all the gurus are just people who have 5%-6% knowledge of the topic compared to the average investor who may be at 3% ... overall, in that light no one is a guru, not even Buffett.
TEH : If there is really only 6% to know about investing, then ... using that yardstick, I will say I only have about 1% of the knowledge!! Hmm ... majority in those markets might think they are the 'guru'. Haha ... another thing, I DO NOT allow any of my turtles to call me 'guru' or 'sifu'. Since then, the term 'cikgu' being used. I am a cikgu now. Haha
Coward-stalker : I do want to meet u in person but I wont want you to be in my classes. NOPE --- I am not going to show blah blah blah ... not to you, not to anyone. LOL. Yes, I am just a blogger, you are just a reader of my blog. So what is next? IGNORE.
6.50 pm : What a lengthy meeting as I have the chance to TALK. Haha ... it is nice to know that these few turtles do trusted me. So, we will like to see how things work ... if we are going to gain from markets by end of next year. So, the ideas are good ... a lot of trashing out on details. I will only watch ... and be more focus with my stocks that we are going to analyse and stalk.
I am not good in paper-work, I am not good in PR ... so, once that 'handled', I will