Friday, March 23, 2007

Stock picks from me and their price to accumulate

STI pulled back together with low volume after a run up for the whole week. Looks rather okay to me. STI bounced right back after hitting intraday of 3200, and closed at -13 points.

Even thought STI puts warrants went up today, so I could actually sell to cut my losses tighter, I still think it's a good thing I sold off ysterday. This is because when I don't this losing warrants, my mind thinks clearer. Psychological trading is important, not just portfolio management.

I read through some charts and decided that this are some good stocks that had weathered good times and bad. Very fundamentally excellent stocks.

Wilmar F34 - I'm just waiting for 2.45 to reach, also fibbo 38.2% retracement target. This is going downhill for short term. Will pick up near bottom.

Cosco F83 - This is one hell of a stock I want to have. So many contracts won since last year, I think enough to last them till next year already. Waiting for 2.82 to accumulate.

Today I bought Swiber holdings. Charts is too good to ignore, so I bought small at 5 lots at today's closing of 1.24. MACD reached bottom already and going to turn positive. Broke out of resistance at 1.22. Today tested resistance again at intraday and bounced off to close at 1.24 on light volume. Excellent time to accumulate today. Next time is resistance at 1.30, which happens to be upper bound of bollinger band. Should reach target by next week and if it breaks 1.30, we should see it hitting 52 weeks high target of 1.42. Level that I bought should be quite safe because of resistance turned support at 1.22.

Interested in HSI? Looks bullish. So far I'm swearing off warrants, but if it's too nice and everything seems right, haha, sorry! Still will break the rule :) Waiting to enter call at 19,500 support level and that level will cover gap to clear the way forward.

(stupid pac andes still halt trading)

Total loss: 26.8k.