Thursday, October 15, 2015
Be fearful when ...
Morning ... almost 10am now, and I m relaxing at J.Co ... for my coffee and donuts. While watching KLSE surging higher after ... last night, e-meeting I said ... market is to correct soon. So ... I m selling all my stocks today ... left few only anyway.
So ... when do we buy stocks? When fear in markets ... when market is quiet and with many no-eye-see their portfolios. Now ... when market is so hot ... when do we sell? When greed is back, right?
Practising such "Be greedy when everyone is fearful ... and fearful when everyone is greedy" is easier said than done. Most newbies will not understand ... and some novices do understand but did not practice it strictly enough.
It is EMOTIONAL swing ... roller-coaster. One moment they are equating our KLSE to 1998 crash due to weakening of MYR (1USD = MYR4.44 that time) ... now, 1USD = MYR4.11 ... should we be buying USD now?
The strengthening of MYR ... was said to be due to the surge of crude-oil price to USD50 ... but it retracing now to USD46 level. CPO rebounded sharply from 2000 level to 2300plus now. And they said weakening of MYR will help those exporters ... so, the strong uptrend of those furniture-stocks(overly played ... ridiculous) ... or those glove-related counters. How about plantation-counters?
Hmm ... for those non-members that joined me last night e-meeting, thanks for coming. I have shown ALL the 30-index-linked counters ... technically, many are one the verge of correcting. So ... trade at own risk. I m in cash position as today I sold off my BJAuto, AirAsia and Opensys. Sold have of FGV too ... and keep half.
AirAsia : bought it breakout 1.40 level ... but seeing market so hot, and short-term weaknesses ... I sold this morning at RM1.46 ... enough for my coffee-donuts today. I will trade AirAsia again ... of coz ... one of the most tradable stocks, as I told everyone. She is hot ... she is cold. Haha.
BJAuto : Missed the bottom ... but a member(he joined my trading workshop to understand trading, a hard-working young trader ... and joined my e-learning to follow-through learning) alerted me when it broke RM1.96 level. I took at RM1.99-RM2.00 ... this morning managed to SELL at RM2.10(hit RM2.12 so far) and as RM2.14 is a resistance, I m initiating sell to my trading-group. Well, some bought lower than me ... and selling higher than me(again). Note that volume is decreasing ... not a good sign, ya.
Hey ... I missed blogging!! Haha ... now, I m enjoying myself as I sold off my positions and could relax for few days ... while waiting for the crazy buying-frenzy over.
Opensys : A stock we have been trading(for an ace-market ... besides Esceram and few more). I queued sell 41cents this morning ... and it is done! Went to hit 42cents ... with 43cents is the target give to all as resistance to sell. Well ... I bought back at 38.5cents ... AGM to approve the bonus issue 1 : 3 ... so, use the news to trade. Somehow, retailers like the word BONUS ... yes, bonus-issue is a good trading-buy. Look at PoHuat now.
Last one ... FGV ...
FGV ... resistance 1.75 hit last week. One member bought hugely at RM1.50 when I bought then ... but sold at RM1.55 resistance. Then, I bought back at RM1.60 level ... added at RM1.65 on Tuesday ... today, sold half 1.71 done, q to sell all at 1.75. We shall watch if FGV to breakout of RM1.75 to initiate another trade in FGV.
Today's market is a trading-market. If you want to invest ... then, we have to wait for the coming market-crash to buy-n-hold. TTB said KLCI will go to 800 level ... today KLCI at 1720. Take 1720 divide by 2 ... that is 850 points, right? Start buying stock at that level and hold ...
Sell before crash ... buy at the bottom? Yeah ... in theory. In practical ... most buying today like crazy ... forgotten that in AUG ... they said market to crash in SEPT? Hmm ...
Will reply to few of those wish to join my e-learning. Yes ... weekly basis of learning to analyse charts!! That is the best way of learning as market is "LIVE".
Time to go jalan-jalan ... off
e-meeting : Planning another one tonight for my 30 index-linked counters as market STILL surging higher ...