Lunch time thoughts for the day

Today I started out feeling very sure of what I wanted, having done my homework last night.

Talk about my favourite longcheer first. Opened at 1.24 but I didn't jump in to buy because I'm not sure of the volume and strength yet. Due to dow's last fri surge, there will be morning reaction until around 930am or later. So bought 5 lots at 1.23 around that time. On hindsight, I would have bought after hsi opens and pull back a little. Around 11, longcheer went down to a low of 1.21 and it represents a very good entry point because it is so near to support at 1.19/1.20. I totally forgot that china stocks in singapore is also highly dependent on hsi's outlook too. I'll bear that in mind.

So far, longcheer staying at 1.23/1.24, trading at 1.5 million volume. That's half the average volume already. I want to see longcheer trading above 1.24 at a volume greater than 3.57 million. With hsi surging upwards after hitting 19,700, I think should not be a problem.

I also bought ellipsiz because macD histogram shows a good entry point. I bought 5 lots at 0.795, another 5 lots at 0.79 to average down. Support at 0.79. Resistance at 0.82, next higher resistance at 0.835 (strong resistance). Cut loss trigger at 0.78.
Risk reward: 187 to 362 or nearing 1:2.

A more conservative risk/reward is 187 to 212, or 1:1.1

I want to see ellipsiz closing above or equal to 0.795 at a volume higher than 2.4 million. Now it is at 0.79/0.795 trading at 1.3 million volume. Reached an intra day high of 0.805. Since it opened at 0.805, and covered the intraday gap already, I think it should go up from there now.

Tonight dow not opening, due to martin luther king's day or something, so nobody to disturb our mini run day. Nikkei opened strongly, at 170 now, so hsi should be too bad. Hsi might encounter resistance around 20,000. If it breaks, cheong ah!