Thursday, December 28, 2006

Total returns: $3,860

Hsi is crazy!

I think it increased by around 1000 points in less than 1 week, and breached 20,000 for the first time in its history!

I think if someone just call warrant last month, can become half a millionaire, if not a millionaire already. Goodness! I wonder how long can this party last? For me, I'll be contented to buy and sell intraday rather than risk it by holding overnight.

Longcheer did cheong today, to an intraday height of 1.29. Really hoping it'll break 1.37 barrier again and on from there on.

I re-checked some of my past earnings. Because of the way I do intraday trading, I conservatively calculate my earnings to be lesser. This is due to the fact that vickers will consolidate all the trades for a particular stock/warrant for that day to calculate the commission. Because I purposely did not consolidate the commission and calculate them individually, my earnings is lesser than the actual one. How much is the actual one? I would only know when they send me a contra statement with the contra gains in it. Typically, I miscalculated by around 30-50 dollar per day, so that's an extra 30-50 odd dollars per day to gain.

Tmr I won't be trading because I've got work in the morning. I think it's alright lah, can't trade everyday. Might become overconfident and not cautious anymore. Might be a good break after consecutive days of trading. If I'm back in the afternoon, I might look at the market and decide from there whether to enter. As I've said, probably not.

Nikkei, sti and dow show signs of weakness already. Losing steam, probably. Another small correction is healthly and neccessary before they run up again. The scary thing comes when it still cheong tmr and next week, then a really really serious correction might set in. Everyone guessing when it will be, so better not be so bullish and sell when signs of major weakness sets in. I'm holding plenty of cash now, only a few stocks in hand. Currently waiting to cash out on longcheer, sitting on quite decent profit as of now. Not selling because longcheer charts looked very very favourably now. Am looking at continuing rise in share price in the next couple of trading days.

Excellent trading for this month. Developed a rather successful system in trading warrants. Wiped off my losses. Now looking forward to my first 5k earned from the stock market!

Total returns = $3,860


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