Sold off longcheer

STI closed +27, but I wasn't happy with the closing.

Dow closed so strongly, and we did it so feebly. Nikkei and HSI shows very weak response too. That's a sign that I already predicted - positive closing on Monday, but subsequent drop for rest of the week.

STI is supported by stocks that are going to XD soon. I think without these counters, we would already have turned down. Weakness is detected throughout the counters on my watchlist and nothing seems to really move. When pennies start to occupy top volume, do be careful, because it means that the market is peaking.

I sold off 3/4 of my longcheer holdings today at 0.71, realizing my losses. I should have cut loss..too many should have. Anyway, it plunged to 0.695 after I sold. It's a good thing because I don't want my profits/loss to be too dominated by this counter. I sold today because of my analysis of STI and longcheer. STI is showing signs of reversal while longcheer never seems to pick up even though everyone is rallying. Imagine if the market turns down, longcheer will be even worse off. Longcheer weakly charts is really bad, with possible downside till 0.66. I'm not going to wait till it drops that low, so I sold off to release the tied up capital.

Yongnam doesn't look like it can push through the resistance 0.38. If it can't go up, it will go down. As I'm holding this stock for medium to long term, I won't consider selling off now to get like 20 profits off the table. Probably I'll pay up (contra period is up tmr) and buy more on dips.

Dow is +8 now, Europe a mix of green and red. Heard that amro bank (spelling?) is going to be taken over by barclays. Earning seasons for singapore stocks is going to hit us this week and next. Volatility expected.