Saturday, September 06, 2014

Chartnexus Meeting

I m attending the traders meeting for chartnexus members. There are hundreds(of thousands) who went thru the technical-analysis training thru ChartNexus. Only few old-timer regulars will attend the weekly meeting. I have attended few times .. and I am considering myself as one of the ''hard-working'' ones. Hmm ... yes, once or twice in a year?

The aunty in front of me is speaking so loud, with another uncles. Due respect, it is their rights to speak. They are talking about PUC. Yes, the stock and discussing about the technicalities of the PUC chart. Hmm ... then, some dirty jokes shared ... many just laughed.

Ok ... I am inside PUC at 21cents, 50MA during that inverted hammer formed. Yes, I do share openly with my members that I queued PUC at 21cents, and waiting for AGM next Monday. So, what say u, indicators? Haha ...
MACD green? RSI is neutral ... I didn't place stochastic or more lines to complicate the chart. Well, many technicians like to put more lines, and we are seeing more buying signals vs selling ... so, it is a BUY?
Let me re-phrase ... high chances that technical indicators fail for these speculative penny stocks. If you learn to read the candle-sticks and volumes ... PLUS lots of experiences of trading these counters or/and with some insiders news, perhaps we could trade well. I have known few of these 'experts' in trading these stocks and they DO NOT use indicators. Yes, they understand how indicators failing in trading counters such as glotec, hubline ... pdz, sumatec .. efficien? What say u about Sanichi, technically a buy? Hmm ... it is easy to be confused as we ... don't know how.
Scicom : For the use of indicators, trading Scicom is possible. Hammer ... breakout, and such. Yes, many of us inside Scicom. It is going for new high. Why?
Bonus-issue : 1 for 5, dividend next week 2cents(only).
1.20pm : The meeting start with explain of trading in US-market. The use of CFD on leveraging. Did I heard CIMB?
Live-chart(intra-day) : I asked a question ... chartnexus tied to any IBs for live-technical charts? According to the speaker/trainer, only with RHB for KLSE. UOB is only for SGX.
CNX : Check the weekly chart, use 50MA as support. Resistance at 1879-1886.
CNX : Bearish outlook for Sept-Oct.
Opensys and Sumatec : He said game is over. cut-loss and sell.
Ok .. I will update later if anything interesting to share.
Note : So many aunties-uncles ...  came for the meeting. Hmm ... why are they here? Learning to read these technical charts? Hmm ... this is something we should be concerned. Many of them thought market is an easy place to earn some money, technical indicators will given them the magical-call ... and when more newbie old-people in market, new are more nearing to the peak?
These aunties-uncles might also lose much money to markets, and thought that charts could ''help'' them.
I do not know why ... just feel young here, in the crowd of old-audience. I do respect old-people ... but I could not understand why they are taking the stress of trading in KLSE, checking Sumatec, PUC and such?
err ... greed?
I will prefer to retire ... watching the waves, go seaside ... rather than understanding the E-waves? That is me ... we are all very different individuals

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