1st one - to see that my funding at MFG is recovering towards the 100% level ( but now is still short of 1/3 ) as of Friday's close. More likely to see that my funding is getting higher or more than now!
For this to happen - then my present holding must explode upwards. Now on hand - 500 lots of SMIC : HK0981, 90 lots of Global Bio-Chem : HK0981, 5 lots of "Alibaba :HK1688, 25 lots of Golden Agri and 12 lots of Biosensor.
May add to the above holding by buying - Global Bio-Chem below present value of HK$2.07 ( the lower the better ), Shenzhen Int'l Holding at HK$0.61 and SMIC whenever it fell below 81 cts. For present market condition....very foolish to chase after the stock prize. It is went above the target price then go look for a replacement share.....so many looking good.
Outlook - it's a trading type of week....no buy and hold thingy but to just buy and sell thingy just to be fully "safe" also it's a Qtr-end thingy therefore it will be a "buy on rumour but sell on news thingy"!!
Happy trading.....and may the force to with U.
Saturday, March 20, 2010
Next week trading theme - penny stock
Both here and in HK, the likelihood is that it will be a downwards bias when it starts trading on Monday till maybe Wednesday before any attempt for the market to move up meaningfully.
Just look at the last week trading...as it gets toward the end of the week, the market just look tired. So in the type of market...the 2nd and 3rd-liners stocks may
explode into the market. But also it will be on rotation basis....meaning that it is all about picking the right penny stock to play. If to follow the leader....then be prepared to be nimble and fast or you may have to run the risk of "left holding the baby" when the game ends.
For SGX - my stock pick will be Biosensor ( as it is near support level of 78 cts and traded with heavy volume the whole of last week but cannot move up - that show that the "big boys" are accumulating and once they are happy, this stock will fly to at less $1 level ) and Oceanus ( more or less....the same story of "big boys" accumulating now ). Midas has gone beyond the penny stock standard...price is above a $1....at $1.09 therefore not qualify as penny stock. This one is also on waiting list to run....same same for SoundGlobal ( ex-Epure since with new name, therefore very likely to "run" again soon - already above $1 level )
For HKex - my stock pick will be Shenzhen Int'l Holding : HK0152( also on "big boys" accumulating story for now ) and SMIC : HK0981( TSMC and "chip stocks" story ).
So it won't surprise me at all to see any one of these shares mentioned "flies" in fact....it won't be a surprise to me to see all of them fly during the week.
When trading penny stock...it is also not surprising to see the stocks "fly" for a day or two only. So the bottom line is when trading penny stock...one has to be alert and focus. It is like a "hit-n-run" thingy!! but if you got it right then nice profit.
Yes...I did post this onto the T3B trader forum too.
Just look at the last week trading...as it gets toward the end of the week, the market just look tired. So in the type of market...the 2nd and 3rd-liners stocks may
explode into the market. But also it will be on rotation basis....meaning that it is all about picking the right penny stock to play. If to follow the leader....then be prepared to be nimble and fast or you may have to run the risk of "left holding the baby" when the game ends.
For SGX - my stock pick will be Biosensor ( as it is near support level of 78 cts and traded with heavy volume the whole of last week but cannot move up - that show that the "big boys" are accumulating and once they are happy, this stock will fly to at less $1 level ) and Oceanus ( more or less....the same story of "big boys" accumulating now ). Midas has gone beyond the penny stock standard...price is above a $1....at $1.09 therefore not qualify as penny stock. This one is also on waiting list to run....same same for SoundGlobal ( ex-Epure since with new name, therefore very likely to "run" again soon - already above $1 level )
For HKex - my stock pick will be Shenzhen Int'l Holding : HK0152( also on "big boys" accumulating story for now ) and SMIC : HK0981( TSMC and "chip stocks" story ).
So it won't surprise me at all to see any one of these shares mentioned "flies" in fact....it won't be a surprise to me to see all of them fly during the week.
When trading penny stock...it is also not surprising to see the stocks "fly" for a day or two only. So the bottom line is when trading penny stock...one has to be alert and focus. It is like a "hit-n-run" thingy!! but if you got it right then nice profit.
Yes...I did post this onto the T3B trader forum too.
SGX - trading theme for Friday
THE sudden last-minute dumping of about 1.5 million DBS shares yesterday cut the Straits Times Index's gain from about eight points at 5pm to just 1.76 at 2,915.7 after the post-closing adjustment period at 5.06pm.
Brokers were understandably upset with the slide, which dragged DBS down from $14.52 to $14.12 in a few seconds. For the day, the stock lost 46 cents or 3.2 per cent. Volume was 5.3 million shares, so the last-minute sell-off - in parcels of 611,000 and 443,000 - accounted for about 20 per cent of the counter's daily volume.
'This looks very calculated and deliberate.' said a dealer. 'It can't be an error because two big blocks were involved.' For the week, DBS recorded an 18-cent or 1.3 per cent loss, while the STI rose 34 points or 1.2 per cent.
Trading themes were hard to come by. And the only one that punters could sink their teeth into - the Hong Kong dual-listing play - is looking a bit long in the tooth. This play emerged three months ago when China XLX Fertiliser listed some of its shares in HK. Its stunning first-day performance delighted brokers and corporate finance types, who latched on to it to recommend that others follow suit.
The latest to announce plans to list in HK in Swing Media, citing well-worn 'better valuations' as the main reason. Swing's shares swung into play as a result, appearing in the top volume list on Thursday and Friday, but although the counter rose to 6.5 cents in high volume, it ended the five days unchanged at six cents.
There was also spillover punting of others who have announced similar HK ambitions, such as Midas Holdings and Epure. The fact that China XLX and the second dual listing so far, Z-Obee, have both failed to perform as hoped for post-HK listing has been glossed over by a market starved of punting themes. This, it appears, has made it overly keen to embrace the 'better valuation' refrain.
Punters also showed keen interest in a handful of penny stocks other than those falling under the HK dual listing umbrella. Healthway Medical, for instance, enjoyed enhanced liquidity because of plans to expand clinics in China, a move praised by DMG & Partners in a 'buy' with a 30 cent target price.
Apart from Wednesday, when market breadth widened considerably, suggesting the entry of hordes of retail punters, the focus was narrow on most days. Genting Singapore was consistently the most active stock, perhaps because of the opening of Universal Studios. Given the sterling efforts of house traders to churn interest through rotational punting, what followed Genting on the actives list on any given day was anyone's guess.
In the previous week, Genting was regularly followed by Golden Agri and Indofood Agri. Yesterday, EuNetworks, PineAgritech and Abterra were favoured, most likely because of their low absolute prices rather than any fresh corporate developments.
Brokers were understandably upset with the slide, which dragged DBS down from $14.52 to $14.12 in a few seconds. For the day, the stock lost 46 cents or 3.2 per cent. Volume was 5.3 million shares, so the last-minute sell-off - in parcels of 611,000 and 443,000 - accounted for about 20 per cent of the counter's daily volume.
'This looks very calculated and deliberate.' said a dealer. 'It can't be an error because two big blocks were involved.' For the week, DBS recorded an 18-cent or 1.3 per cent loss, while the STI rose 34 points or 1.2 per cent.
Trading themes were hard to come by. And the only one that punters could sink their teeth into - the Hong Kong dual-listing play - is looking a bit long in the tooth. This play emerged three months ago when China XLX Fertiliser listed some of its shares in HK. Its stunning first-day performance delighted brokers and corporate finance types, who latched on to it to recommend that others follow suit.
The latest to announce plans to list in HK in Swing Media, citing well-worn 'better valuations' as the main reason. Swing's shares swung into play as a result, appearing in the top volume list on Thursday and Friday, but although the counter rose to 6.5 cents in high volume, it ended the five days unchanged at six cents.
There was also spillover punting of others who have announced similar HK ambitions, such as Midas Holdings and Epure. The fact that China XLX and the second dual listing so far, Z-Obee, have both failed to perform as hoped for post-HK listing has been glossed over by a market starved of punting themes. This, it appears, has made it overly keen to embrace the 'better valuation' refrain.
Punters also showed keen interest in a handful of penny stocks other than those falling under the HK dual listing umbrella. Healthway Medical, for instance, enjoyed enhanced liquidity because of plans to expand clinics in China, a move praised by DMG & Partners in a 'buy' with a 30 cent target price.
Apart from Wednesday, when market breadth widened considerably, suggesting the entry of hordes of retail punters, the focus was narrow on most days. Genting Singapore was consistently the most active stock, perhaps because of the opening of Universal Studios. Given the sterling efforts of house traders to churn interest through rotational punting, what followed Genting on the actives list on any given day was anyone's guess.
In the previous week, Genting was regularly followed by Golden Agri and Indofood Agri. Yesterday, EuNetworks, PineAgritech and Abterra were favoured, most likely because of their low absolute prices rather than any fresh corporate developments.
4D - Sat 20/3 : 1st prize 3720
HUAT AH....:) as per prediction for this month and esp today draw with regards for the above set of numbers. ( proof - see my last night posting's comment at "Present market situation" and my normal post at 6/3 "4D up-date" )
POWER....yes, as usual "kena" hehe! SWEE SWEE one!
Do read about the power of flower bathing ritual if one is having problem/trouble/no shiok feeling/encountered with "small people" at work, home and daily life. Think about doing it....sometimes no need to have any religous connection to do so, just have a "positive mind-set" after going thru the ritual. If got religion....better, you first pray to your GOD to bless you after the bath.
POWER....yes, as usual "kena" hehe! SWEE SWEE one!
Do read about the power of flower bathing ritual if one is having problem/trouble/no shiok feeling/encountered with "small people" at work, home and daily life. Think about doing it....sometimes no need to have any religous connection to do so, just have a "positive mind-set" after going thru the ritual. If got religion....better, you first pray to your GOD to bless you after the bath.
Friday, March 19, 2010
Week trading result
By Friday, with everything counted the total GLV for my fund has gone up to be at
2/3 level again. Same level as at the start of this week. Therefore not too bad for my trading. Yes....with a couple of screw-ups for the week that cost me dearly!
Still have to recover another 1/3....and by using the present way of trading then I won't be able to recover my intial funding of 50K, that it why I want to focus and have a couple of good stock picks ( best - those penny stock ) for me to dump in my money in order to win big.
2/3 level again. Same level as at the start of this week. Therefore not too bad for my trading. Yes....with a couple of screw-ups for the week that cost me dearly!
Still have to recover another 1/3....and by using the present way of trading then I won't be able to recover my intial funding of 50K, that it why I want to focus and have a couple of good stock picks ( best - those penny stock ) for me to dump in my money in order to win big.
Recovery Without China
North American, European and many Asian markets show signs of recovery, but the Shanghai Composite is headed for a test of primary support. A primary down-trend would seriously impact on demand and prices for basic commodities, of which China is the primary consumer — with a knock-on effect on resources stocks in other markets.
Commodities & Resources Stocks
At present the Baltic Dry Index is recovering, breaking through resistance at 3300 to signal the end of the latest correction. The surge in shipments of bulk commodities is good news for resources stocks, but the HARPEX container freight index remains extremely low, indicating that manufacturing exports lag way behind.
So...the world needs the China's markets to push them higher if not then the market everywhere will be at their knee and beggaring for help just like the PIGS countries
eg Greece.
Commodities & Resources Stocks
At present the Baltic Dry Index is recovering, breaking through resistance at 3300 to signal the end of the latest correction. The surge in shipments of bulk commodities is good news for resources stocks, but the HARPEX container freight index remains extremely low, indicating that manufacturing exports lag way behind.
So...the world needs the China's markets to push them higher if not then the market everywhere will be at their knee and beggaring for help just like the PIGS countries
eg Greece.
Momentum Trading
Introduction
The purpose of this 3-part series of articles is to provide information about the potential benefits of momentum investing. In this series, I will try and explain what momentum is, the potential returns available to momentum investors, and the way that Porter Capital combine mechanical, rules-based strategies with the momentum effect to deliver benefits to investors.
The ‘premier’ anomaly
Since its initial discovery by DeBondt & Thaler in 1985[1], the momentum effect has been documented and researched in many markets worldwide.
Many traders and investors would know of the academic notion of the ‘efficient’ market, and the implication that this efficiency has on the ability of investors and traders to earn profits.
What you may not be aware of is that the father of the ‘efficient market hypothesis’, Eugene Fama, refers to momentum as “the premier unexplained anomaly”[2]. In other words, the success of momentum based investing is regarded by many as an exception to the efficient market hypothesis.
What is it?
In its simplest terms, momentum refers to buying stocks which exhibit past over-performance. Research shows that stocks which have exhibited strong performance over some defined historical period, have a tendency to continue to exhibit strong performance for some number of future periods. It means that investors can potentially hitch a ride on strong momentum stocks. In part 2 of this series, I will use simulations to explore the potential risks and rewards of the momentum approach.
A Typical Momentum Trade
The typical momentum trade has a history of clearly defined direction and strength. Figure 1 shows a chart of price activity for ALL (Aristocrat Leisure), from August 2004 to April 2005. During late August 2004, there is a clear price breakout on very heavy volume. This marks the start of the momentum opportunity. Over the next few months, the price activity demonstrates clearly defined direction.
Is it credible?
The momentum effect has been widely researched and documented in both the international and Australian equity markets. For example, Rouwenhorst[3] tested momentum strategies in 12 European markets using data from 1980 to 1995, and found that momentum returns were present in every country, and their effects lasted for approximately one year. Griffin et al.[4] found support for the profitability of momentum investing in over 40 countries, and concluded ‘Globally, momentum profits are large and statistically reliable in periods of both negative and positive economic growth’.
Momentum has been thoroughly researched in virtually all of the worlds equity markets. Momentum effects have also been documented in other asset classes, such as foreign currencies[5], commodities[6] and real estate[7].
It is fair to say that the momentum effect appears to be one of the most beneficial effects for investors. Thorough research appears to indicate that momentum based investment does not increase investment risk, and that momentum effects are present during both economically good and bad cycles.
When does it work best?
Like all investment approaches, momentum investing is subject to the vagaries of the investor. For many investors, poor returns are not so much a function of their investment strategy, but of their own implementation of that strategy.
All investment strategies benefit from the increased discipline and accountability that mechanical, rule-based trading brings, particularly during difficult investment cycles. I will discuss this topic in more detail in the third part of this momentum series.
The purpose of this 3-part series of articles is to provide information about the potential benefits of momentum investing. In this series, I will try and explain what momentum is, the potential returns available to momentum investors, and the way that Porter Capital combine mechanical, rules-based strategies with the momentum effect to deliver benefits to investors.
The ‘premier’ anomaly
Since its initial discovery by DeBondt & Thaler in 1985[1], the momentum effect has been documented and researched in many markets worldwide.
Many traders and investors would know of the academic notion of the ‘efficient’ market, and the implication that this efficiency has on the ability of investors and traders to earn profits.
What you may not be aware of is that the father of the ‘efficient market hypothesis’, Eugene Fama, refers to momentum as “the premier unexplained anomaly”[2]. In other words, the success of momentum based investing is regarded by many as an exception to the efficient market hypothesis.
What is it?
In its simplest terms, momentum refers to buying stocks which exhibit past over-performance. Research shows that stocks which have exhibited strong performance over some defined historical period, have a tendency to continue to exhibit strong performance for some number of future periods. It means that investors can potentially hitch a ride on strong momentum stocks. In part 2 of this series, I will use simulations to explore the potential risks and rewards of the momentum approach.
A Typical Momentum Trade
The typical momentum trade has a history of clearly defined direction and strength. Figure 1 shows a chart of price activity for ALL (Aristocrat Leisure), from August 2004 to April 2005. During late August 2004, there is a clear price breakout on very heavy volume. This marks the start of the momentum opportunity. Over the next few months, the price activity demonstrates clearly defined direction.
Is it credible?
The momentum effect has been widely researched and documented in both the international and Australian equity markets. For example, Rouwenhorst[3] tested momentum strategies in 12 European markets using data from 1980 to 1995, and found that momentum returns were present in every country, and their effects lasted for approximately one year. Griffin et al.[4] found support for the profitability of momentum investing in over 40 countries, and concluded ‘Globally, momentum profits are large and statistically reliable in periods of both negative and positive economic growth’.
Momentum has been thoroughly researched in virtually all of the worlds equity markets. Momentum effects have also been documented in other asset classes, such as foreign currencies[5], commodities[6] and real estate[7].
It is fair to say that the momentum effect appears to be one of the most beneficial effects for investors. Thorough research appears to indicate that momentum based investment does not increase investment risk, and that momentum effects are present during both economically good and bad cycles.
When does it work best?
Like all investment approaches, momentum investing is subject to the vagaries of the investor. For many investors, poor returns are not so much a function of their investment strategy, but of their own implementation of that strategy.
All investment strategies benefit from the increased discipline and accountability that mechanical, rule-based trading brings, particularly during difficult investment cycles. I will discuss this topic in more detail in the third part of this momentum series.
Present market situation.
For Singapore and HK market....kind of getting tired and in need of a rest but can still find some movements for the 2nd and 3rd liner shares. Of course...the Index stocks are still being supported but due to rotation and the high share price plus the cost of commission which make buying them a big risk.
For 2nd and 3rd liner shares ( so called penny stocks ), one has to scan thru all of them and checked to see if got one of them have got any news or theme for them to move up. If not...also not a good bet as the traders must take into consideration of the price movement range and profit-to-risk ratio.
As the market gets higher....the risk is also higher. Same as in mountain climbing.....the higher you go, the harder is to breath ( air got thinner theory haha ).
At present...my main concern is to focus on 2 "big" lots of stocks. SMIC ( 500lots ) and Global Bio-Chem ( 80 lots - after selling off 100 lots to cushion and cover the pain from the screw-up for SMIC and Alibaba ).
Btw I still managed to make....about 1K+ of unrealised profit at the end of the day due to the gain from the newly bought SMIC shares. Ave price for the 480 lots was at 82.7 cents and the closing price was at 84 cents.
I may want to focus just on HK and SGX penny shares for now to trade....also decided to hold the vested level to about 30% funding level from present 45% whenever have a chance to clear.
Stocks to keep an eye on :
SGX - Midas ( already BP today ), Biosensors ( Lowest K-line and at near support level of 78 cents ) and Oceanus ( low K-line and at BP level ).
HK - Global Bio-Chem : HK0809 ( low K-line and just break peak ), Shenzhen Int'l :
HK0152 ( already BP ) and Fosum Int'l : HK0656 ( low K-line and near BP level ).
For 2nd and 3rd liner shares ( so called penny stocks ), one has to scan thru all of them and checked to see if got one of them have got any news or theme for them to move up. If not...also not a good bet as the traders must take into consideration of the price movement range and profit-to-risk ratio.
As the market gets higher....the risk is also higher. Same as in mountain climbing.....the higher you go, the harder is to breath ( air got thinner theory haha ).
At present...my main concern is to focus on 2 "big" lots of stocks. SMIC ( 500lots ) and Global Bio-Chem ( 80 lots - after selling off 100 lots to cushion and cover the pain from the screw-up for SMIC and Alibaba ).
Btw I still managed to make....about 1K+ of unrealised profit at the end of the day due to the gain from the newly bought SMIC shares. Ave price for the 480 lots was at 82.7 cents and the closing price was at 84 cents.
I may want to focus just on HK and SGX penny shares for now to trade....also decided to hold the vested level to about 30% funding level from present 45% whenever have a chance to clear.
Stocks to keep an eye on :
SGX - Midas ( already BP today ), Biosensors ( Lowest K-line and at near support level of 78 cents ) and Oceanus ( low K-line and at BP level ).
HK - Global Bio-Chem : HK0809 ( low K-line and just break peak ), Shenzhen Int'l :
HK0152 ( already BP ) and Fosum Int'l : HK0656 ( low K-line and near BP level ).
Silly trading mistakes
Due to my working half day yesterday...and by the time I got home, it was already 2am and to cool down....I ate some fruits and watched CNBC. Saw that the Dow was up and I went to sleep about 3am....didn't really sleep well. Drank coffee at work....so
eyes closed....but brain still "up and running".
Woke up at 8.30am and got ready for the market opening. Normally after checking the status of the US markets closing then checked the morning market status for the region. After that, I would log-in and adjusted my contingent stop-loss orders. Since market was "up" everywhere....adjusted the price for stop-loss for all my outstanding shares on hand. For SMIC....I set it at HK$0.80 from HK$0.76, since the share price has gone up to HK$0.85...and when market "open" it was trading around 85/86 cents range. For the rest....I actually lower them.
Yes...today I did a couple silly trading mistakes. First, was that I took my eyes off my Alibaba counter and the stock dropped from HK$17.10 to HK$16.60 causing me to carry a unrealised loss of HK$3,000, the other one was even worst. After the lunch break, my pc "hanged" at the start so I logged off then re-start it. By the time, it was operating I saw that the share price for SMIC has started to drop from 84 to 82 cents....but before I can get into the system to adjust my stop-loss price it triggered the 1st lot at 80 cents for 280 lots...I managed to adjust the 2nd lot of 280 lots from 79 to back to 76 cents. SHIT....immediately saw a realised loss of
S$2.5K on my MFG platform thingy and I was like "blink, blink away" at the screen. Then....the price started to recover to 82/83 cents range. I just went in for 220 lots at 82 cents to make up for my share target of half mil ( 500 lots ). Got it and the price just "bing-bonging" around that range till at the close it just shot up back to 84 cents. Down 1 cent from yesterday close. With commission and so on....wasted the S$3+K and not counting the mistake about Alibaba shares ( another
S$700 ) for a total of nearly S$4K. Silly or not???
Ok....about Alibaba shares, after I scanned the chart at T3B I realised that this stock was on the down trend for awhile in fact....for about 6 mths now. So, it was a bad call and I decided to get rid of it asap but with at present price....may have to hold till "BT".
Frankly....I was in zombie mode due to the lack of sleep! Realised that in order to be a successful trader....one must have a good sleep and in relax mood.
eyes closed....but brain still "up and running".
Woke up at 8.30am and got ready for the market opening. Normally after checking the status of the US markets closing then checked the morning market status for the region. After that, I would log-in and adjusted my contingent stop-loss orders. Since market was "up" everywhere....adjusted the price for stop-loss for all my outstanding shares on hand. For SMIC....I set it at HK$0.80 from HK$0.76, since the share price has gone up to HK$0.85...and when market "open" it was trading around 85/86 cents range. For the rest....I actually lower them.
Yes...today I did a couple silly trading mistakes. First, was that I took my eyes off my Alibaba counter and the stock dropped from HK$17.10 to HK$16.60 causing me to carry a unrealised loss of HK$3,000, the other one was even worst. After the lunch break, my pc "hanged" at the start so I logged off then re-start it. By the time, it was operating I saw that the share price for SMIC has started to drop from 84 to 82 cents....but before I can get into the system to adjust my stop-loss price it triggered the 1st lot at 80 cents for 280 lots...I managed to adjust the 2nd lot of 280 lots from 79 to back to 76 cents. SHIT....immediately saw a realised loss of
S$2.5K on my MFG platform thingy and I was like "blink, blink away" at the screen. Then....the price started to recover to 82/83 cents range. I just went in for 220 lots at 82 cents to make up for my share target of half mil ( 500 lots ). Got it and the price just "bing-bonging" around that range till at the close it just shot up back to 84 cents. Down 1 cent from yesterday close. With commission and so on....wasted the S$3+K and not counting the mistake about Alibaba shares ( another
S$700 ) for a total of nearly S$4K. Silly or not???
Ok....about Alibaba shares, after I scanned the chart at T3B I realised that this stock was on the down trend for awhile in fact....for about 6 mths now. So, it was a bad call and I decided to get rid of it asap but with at present price....may have to hold till "BT".
Frankly....I was in zombie mode due to the lack of sleep! Realised that in order to be a successful trader....one must have a good sleep and in relax mood.
Thursday, March 18, 2010
The Joke was on me
Yes....when I went down to the car park after my half day work at 1.30am last night, the car refused to start. Didn't even make any sound....flat battery. This was my fear from the start when I saw the car at the workshop. The workshop guy assured me that it is okay....no problem!
Lucky thing was that I had my "AA" card with me....normally never carry it with me. So called them for help...and after waiting for an hour, they came. Help to jump-start the engine....a 5-min job. Then tell me not to switch "on" the air-con for the engine to re-charge the battery. By the time I got home....at 3.30am as I go pumped some petrol for the car, I was sweating like a pig.
Had my bath....and checked the news at CNBC, the US market was "up"...so went to sleep.
Lucky thing was that I had my "AA" card with me....normally never carry it with me. So called them for help...and after waiting for an hour, they came. Help to jump-start the engine....a 5-min job. Then tell me not to switch "on" the air-con for the engine to re-charge the battery. By the time I got home....at 3.30am as I go pumped some petrol for the car, I was sweating like a pig.
Had my bath....and checked the news at CNBC, the US market was "up"...so went to sleep.
Thursday : trading up-date
At start of trading...the market already show a downward bias for all the Asian markets including Jap, Korean, Taiwan too. But I noticed that SMIC was quite strong supported and trading in a very narrow range HK$0.79/0.80 with more volume than normal. Btw I was thinking of selling at 80 cts so that I can go and sleep as at 80 cts the sellers were equally strong. Then at around 11am....I was feeling bored as my holding ( SMIC, Global Bio-Chem, Golden Agri and Alibaba ) was showing a negative of $700+, I get ready to go feed the fishes. At that point....this SMIC started to show volume and also start to move up. So...fast the volume hit 150 millions and the price went up to HK$0.83 then stayed there trading at 82/83 cts range.
Didn't go feed the fishes as it was raining at that time too....so went to prepare my lunch. Came to see the pc at around 12+ and the volume was at about 200 millions and the price was at around 82/84 cts range with strong buying support and lesser sellers too. Closed at mid-day at that range with 250 millions shares traded. For my other stocks....all down but the losses were easiy covered by the gain of SMIC.
At 3.30pm woke up to pee and at the same time...go look see look see the pc. SMIC was trading up to 84/86 cts range and huge volume too. But at the same time, Global Bio-Chem was weakening to below the HK$2.00 level. So I went in at HK$1.98 and 1.99 to buy another 80 lots....now my holding for this stock is at 180 lots. Ave price at
HK$2.02 now.
For Alibaba and Golden Agri - I just leave them be. I was looking at Tencent at HK$155.00 and put in an order of 1000 shares. No luck there...didn't drop to that level yet.
All in - not a bad bet for SMIC as it closed at HK$0.85, a gain of 6 cts for today.
And since my cost is just around HK$0.773 ( unrealised profit of HK$23.1K ) was higher when it was at 86 cts hehe. Well I am still confident that it will go higher in the coming sessions. Why???? Well....read my posting at T3B forum about the TSMC stake in the company and how the "chip-stocks" recovery stories!
Didn't go feed the fishes as it was raining at that time too....so went to prepare my lunch. Came to see the pc at around 12+ and the volume was at about 200 millions and the price was at around 82/84 cts range with strong buying support and lesser sellers too. Closed at mid-day at that range with 250 millions shares traded. For my other stocks....all down but the losses were easiy covered by the gain of SMIC.
At 3.30pm woke up to pee and at the same time...go look see look see the pc. SMIC was trading up to 84/86 cts range and huge volume too. But at the same time, Global Bio-Chem was weakening to below the HK$2.00 level. So I went in at HK$1.98 and 1.99 to buy another 80 lots....now my holding for this stock is at 180 lots. Ave price at
HK$2.02 now.
For Alibaba and Golden Agri - I just leave them be. I was looking at Tencent at HK$155.00 and put in an order of 1000 shares. No luck there...didn't drop to that level yet.
All in - not a bad bet for SMIC as it closed at HK$0.85, a gain of 6 cts for today.
And since my cost is just around HK$0.773 ( unrealised profit of HK$23.1K ) was higher when it was at 86 cts hehe. Well I am still confident that it will go higher in the coming sessions. Why???? Well....read my posting at T3B forum about the TSMC stake in the company and how the "chip-stocks" recovery stories!
Wednesday, March 17, 2010
Funny things
Yes...got a sms from my boss that I was given a promotion letter at AIA. I was like "What is going on?"....I was supposed to be sacked anytime type for not fulfilling the quota for the whole of last year. Btw I managed to stay in the biz by buying 4 policies for myself and family.
I don't want to ask or reply my boss....I shall wait till next week and go to office to see what's up hehe.
Yes...I have over 20yrs of service with AIA. Always managed to close my quota for the years. Did what I need to do...and hold back for another year. My motto is to out-last the boss and agency!
Didn't know that I out-last AIG itself....mine! That's POWER! it was a 100+ yrs co until it was "caught out" dealing with the credit swap thingy and now it is under the US gov!
I don't want to ask or reply my boss....I shall wait till next week and go to office to see what's up hehe.
Yes...I have over 20yrs of service with AIA. Always managed to close my quota for the years. Did what I need to do...and hold back for another year. My motto is to out-last the boss and agency!
Didn't know that I out-last AIG itself....mine! That's POWER! it was a 100+ yrs co until it was "caught out" dealing with the credit swap thingy and now it is under the US gov!
Wednesday - up-date
Stock trading - not good well esp for Monday. almost swiped off all the gains from last week....esp after kena "stopped out" for Zijin Mining. So power....the moment I went to get my breakfast ready, the price dropped until I was stopped out and rebounded back slightly. 50 Lots....and my stop loss at 8.5% from my buying price for the lot. On Tuesday....down and up again, frankly my shares were going no where and luckily end slightly on the plus side. Bought 300 shares of Tencent when it dropped on the morning and it closed with a HK$600 gain for me. The rest of my holding....also show minor gain. On Wednesday....market just gap-up esp for Zijin mining and Tencent....beautifully then after 1 hr of trading cool-down. Saw Alibaba dropping 7% after reporting a in-line result....so bought 5 lots at HK$17.06 then it just dropped further down to HK$16.90. I key-in again to buy at HK$16.88 but didn't get it. The price recovered back to HK$17.20 to 17.30 range. I also key in to buy SMIC at HK$0.78 for 100 lots. That was about 11.15am so I went down to feed the fishes. By the time I got home again...at 12.05pm, I noticed that my 300 shares of Tencent was "stopped out" at HK$162.00...."swee swee" and it bounced back after that. I also kena bought in for SMIC and the price was dropping too. Again key-in to buy at HK$0.76....also kena and it went as low as 75cts...shit! right before my eyes!
At that time....my portfolio was showing a minus of over 1.5K, I was like "WTF" lei.
So after 12:30pm, I went to sleep. Luckily when I slept up at 3.45pm, the HK market went up further and SMIC has recovered back to HK$0.79. BTW I had 300 lots at ave of HK$0.78. My 100 lots of Global Bio-Chem also show a small gain closing at HK$2.04
( my ave cost is HK$2.046 ). Alibaba also closed at HK$17.24 for a small gain for me.
I have confident for SMIC as the chip stocks are showing gains in US, Korean and Jap market according to the CNBC reports. In fact...I also "Q" at HK$0.75 but didn't get any at that price. I aim to vest up to 500 lots....or more. Yeah....agreed it is a risky move to over-position my portfolio on one or two counters. I have thought about how to recover the 40+% loss but cannot come up with a good idea unless I "focus" on a couple of right stocks and go almost all out on them.
Forex - didn't do much this week.
4D - same thing....fat zero!
Got a replacement car just now....and I drove it to work. MAN!!! it is older than my daughter hehe and the oldest car that I ever drove till now. POWER....a Toyota Corona 2 lit. Frankly it is fun to drive....as it drives liked the SMRT no 852 bone-shaking bus hehe. The 1st time, I started the car...I was like "POWER" as silent one but the "hazard light" was on. So when the mechanic came to check with me, I asked him about the "hazard light"....then he told me why I didn't start the engine. I was like...WHAT??? there was sound coming for the car...he then told me that was from the fan. He then show me how to start the car....WAH LAU! and it fired up sounding like a SMRT bus. Btw it also drank the petrol...noticed it was showing 1/4 tank but by the time I got to my office it was near empty. OMG!!! that was from Sin Ming to AMK Ave 5 and it shows about 12 kms as I went to Sing Siong to buy bread to feed the fishes.
At that time....my portfolio was showing a minus of over 1.5K, I was like "WTF" lei.
So after 12:30pm, I went to sleep. Luckily when I slept up at 3.45pm, the HK market went up further and SMIC has recovered back to HK$0.79. BTW I had 300 lots at ave of HK$0.78. My 100 lots of Global Bio-Chem also show a small gain closing at HK$2.04
( my ave cost is HK$2.046 ). Alibaba also closed at HK$17.24 for a small gain for me.
I have confident for SMIC as the chip stocks are showing gains in US, Korean and Jap market according to the CNBC reports. In fact...I also "Q" at HK$0.75 but didn't get any at that price. I aim to vest up to 500 lots....or more. Yeah....agreed it is a risky move to over-position my portfolio on one or two counters. I have thought about how to recover the 40+% loss but cannot come up with a good idea unless I "focus" on a couple of right stocks and go almost all out on them.
Forex - didn't do much this week.
4D - same thing....fat zero!
Got a replacement car just now....and I drove it to work. MAN!!! it is older than my daughter hehe and the oldest car that I ever drove till now. POWER....a Toyota Corona 2 lit. Frankly it is fun to drive....as it drives liked the SMRT no 852 bone-shaking bus hehe. The 1st time, I started the car...I was like "POWER" as silent one but the "hazard light" was on. So when the mechanic came to check with me, I asked him about the "hazard light"....then he told me why I didn't start the engine. I was like...WHAT??? there was sound coming for the car...he then told me that was from the fan. He then show me how to start the car....WAH LAU! and it fired up sounding like a SMRT bus. Btw it also drank the petrol...noticed it was showing 1/4 tank but by the time I got to my office it was near empty. OMG!!! that was from Sin Ming to AMK Ave 5 and it shows about 12 kms as I went to Sing Siong to buy bread to feed the fishes.
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