Market for the coming week

Don't think the market will drop and do a V-shape recovery becoz it is already too near to CNY, therefore it is likely to trade sideway till after the CNY. Most chinese traders would have clear their positions and waiting to go and have a good time during the CNY.

But still there maybe some stocks esp those already "kena whacked down" may have a mini recovery. Same for the index too....which was due to the recovery for the US market on friday.

To be really safe...can only Genting and Golden Agri but for Genting....may have to monitor very closely becoz something is cooking there. Likely is the bond conversion thing on 8/2...so, it may be pushed higher before it drops again after the news on 8/2.
For Golden Agri...at 50 cents, it is a reasonable buy due to the palm oil price. Even can buy Indo Agri and Wilmar too.

Guess...Ezra, Olam and Noble together with UOB and OCBC are good bet for quick profit. Same for Capitaland....has drop quite a bit from it's recent high of $4.44.

So....any drop next week maybe a buying opportunity if willing to hold.

Another week of "lau sai" market

Yes...confirmed that the stock markets everywhere suffered another week of "lau sai" after starting well for the 1st couple of days. From then....a one-way ticket on the southward journey. The last couple of days were the worst.

Personally didn't profit of it....die die, the mentors still are calling the markets "bullish". On hindsight...it is more of bullshit than bullish market.

Never mind, since I am making a pact with my trading buddy to remind each other and also to keep each other in check to follow the T3B rules. That way, we can rest assured that the system cannot work if we failed as a trader after strictly following to the rules.

As for to-date....have lost more than 58% of my capital ( which was funded to 25K ) therefore what I am left with is less than 10.5K in my CFD.

Tomorrow - another Mass Gathering session by T3B's boss

Yes...if I can wake up by 2pm, I may want to go hear the talk by boss Keane. Just hear what he may want to add on to his last week talk. After that...there shall be talk regarding Property and Wealth builder by other speakers.

Sometimes it is good to just have an open mind and to attend these talks and gatherings. Anyway it is free....and as it is on Sunday therefore parking is not an issue too.

Weekly up-date

Well, no use being "right" since that I didn't took any action to profit from it. All the talk about selling short for the stock market last Sat then after attending the Mass Gathering on Sunday....didn't take any action so the "guru" was still saying the market is still at the "bull" stage at this point of time.

So...the result was kena whacked left, right and centre, wtf....lor. 2nd round of kena whacked in the HK market...and this time....super worst!!! Down to 45% funding level!

Forex newbies - all will lose!

Yes....same thing, didn't trade much since I pay more attention to the stocks. At the same time....was told by a pro-trader that all newbies forex traders.....lose! 100% will lose money at a regular pace for most of their trades in the first year. And if still in the forex market in the 2nd year....then, the chances of ever making money would increased by 50% ( meaning 50/50 chance of making some money ) in all trades but must still have to trade constantly all the time ( meaning making inter-day trades, 3hrs trades and also the basic core trades - in a daily/weekly basis ).

If still....can last to 3rd year only then, the odd will be better when trade. At the same time....have to pay full attention and be very focus. Easier if just focus on one pair to trade, that way....the gut feel will come faster and easier too.

Stock market - correction time

Too bad that this is the start of the correction. In fact....I was right all along regarding this correction ( see my 2010 market outlook written near end of Dec 2009 ) but whenever I attended the mentor's session, it is usually packed with all sort of people....eg uncles, aunties, now even young men and women too. All are just too eager to learn from the mentors to make easy money. And I too was got "caught up" by the "talks of good bullish time ahead" that I also forgot about my own market's outlook for 2010. This thing is the so-called "gut feel" which is from years of getting burnt in the stock market - experience. Yes....after more than 20+ years, I should know better!

Lucky thing was that I am more willing to accept small losses and cut losses early. Now with the Friday's US close....I expect the market here and in HK will continue to drop on Monday. Hopefully can rebound by Wednesday or Thursday....when all the "lau sai" is done! Even so....I may continue to monitor the market first.

Stock Market - Correction Week

Wah rao....look like it's market's correction week for almost all markets. Here is the same thing. Things started reasonably well for the better part of the week here then by Wednesday with China and HK markets in deep shit, the market here also followed.

On Thursday....things just got worst. Unless...one "short sell", every trader would be down in this type of market. For those....in HK market, then most likely to be "hit hard" by the correction.

Genting...having their opening on Wednesday also kena "sold down" from $1.32 till now $1.22. Only some "shit penny stocks" shot up nicely....won't end long in this type of market