Wednesday, May 02, 2007


Sold off my hsi call.

SO sick of myself - why did I always have to do stupid things like this to jeopardise my profits? As if it's not bad enough already. I totally deleted those warrants from my watchlist already, must stop myself from doing stupid things again.

I sold because even though Dow rallied strongly for the past couple of sessions, HSI still wouldn't rally. That's usually an ominous sign. Instead of waiting out for my warrants to break even, I take the safe option - just cut loss. Of course, that might turn out to be even stupidier, but that's the best option I would choose to take without the foresight of knowing what's going to happen.

Today's trade:
Sold 5 lots of hsi call warrants at 0.415, bought at 0.585.
Bought 5 lots of straitsasia at 1.13.

I bought straitsasia because today it had a breakaway gap on UBS report of tp of 1.31 (if i remember correctly). A surge of volume followed (nearly 1.5 times ave volume). Looking at the charts, it broke out of symmetrical triangle formation. Combining this with MACD coming crossover and the breakaway gap with news, it's a winning combination.

Lowest flag on 19th april: 0.965
Highest flag on 26 april: 1.09
Flag target: 1.215

So, I think we're going to see at least 1.21/1.22 in the coming session. I think probably by this week (Dow is superbly strong tonight, as of now). Incidentally, weekly charts also show a flag with around that target price. Should be easily attainable.

Damn it, ferrochina, could have hopped onto this one way train to heaven...but I didn't. Was distracted by some things last week (can't remember what) and didn't watch closely. Sianz..

Global Voice too...I mentioned that the charts was squeezed by bollinger some time ago and it's a good time to accumulate. But I forgot all about it...

Cosco... Q1 results shows 12% increaase though it's widely expected to have 40% increase. A bit overreacted, I think. Very excellent buy but I prefer to wait till the charts bottom out first. Seems like it's still on a downtrend. Possible support at 2.62. Based on fibo (i swear i'm not good at this), it's around 2.58. I give it an average buy in at 2.60. All this is provided charts show a clear point of entry at 2.60, otherwise, I won't buy yet. Weekly charts for cosco looks quite bad.

DBS - today i'm quite tempted to buy dbs call warrants. Those already in the money with strike price at support so that it wouldn't fall so bad if the results is not good. I'll monitor tomorrow. The charts for dbs looks good enough for a entry position but I'm still awaiting confirmation. Results should be good, seeing that UOB didn't do too badly. Almost twice the average volume for today. Results are out on Fri.

STI charts looks nice too. Formed a symmetrical triangle and broke out of it with average volume. Not sure if it's a genuine breakout. If so, tmr we'll see a huge surge, possibly breaking our record high of 3452.

This might possibly be the last leg of the bull run. Or it might be the start of another. Who knows? Tmr is crucial. With dow at +82, breaking the all important 13,200 mark, I think we wouldn't do too badly.

I wouldn't be too happy. The most drastic drop come after we break record high. Haha, maybe the adage "sell in may and go away" might be true.

Dow that crazy monster is rampaging with +90 now. Europe mostly green.

I'll wake up super early tmr! Exciting day tmr!