Sunday, June 17, 2007

Weekend reflection

I've checked the charts.

Initially I wanted to sell off CH offshore. But i realised I might be doing what I did in the past, which is to sell off my winners and hold onto my losers. Should let the winners ride and cutting off losers.

Target price for CHoffshore is 0.775
Support level at 0.67, then 0.645
Let's see how the flag target can be reached. Indicators seem to be able to support that flag target.

CSC had a rather interesting charts. On bullish charts, the volume will drop when the price drops and rise when the price increase. This is exactly what is happening for CSC. It broke out of horizontal resistance at 0.385 with high volume last Fri. Last 3 weeks we saw CSC covering the gap around 0.345. Uptrend is still intact. Expect to see more movement upwards this coming week.

Expectation: 0.40 this week.

Yongnam broke out of ascending triangle on 13th June with high volume, now retracement from that movement. If went below 0.38 (breakout point) then the breakout is invalidated. But I don't think they can happen, based on the strong volume and price movement upon breakout. Fibo retracement gave me 2 likely support level upon which the price will resume upward movement. Either 0.400 or 0.385. If it retrace near 0.385 I'll add another 5 lots to my holdings.

Possible support: 0.400 or 0.385.
Action: If touch 0.385 and does not break down, i'll add another 5 lots to my holdings, pending macro condition.

As for Lianbeng, my target is 0.44. Don't know whether I calculated this correctly or not...seems quite a long distance to cover. Should see more movement from it this week. Support at 0.36. I have no action for this stock yet. Just hold and see.

Straits asia powering up. Could be another swiber/cosco. But the rate of ascent is too fast, so it's definitely not sustainable. I'll hold onto this stock first. No action to add on or sell. This is another of those stock that the price went up so high you'll never get the price you bought if you sell now. I have no target price for this, just ride along.

Genting wait and hold. hold...hold hold.....

My portfolio reached 12.6k losses last fri. That means another 12k and I'm off free :) It's really true, trade less and start to see more gains. Oh, not to mention my warrants trading skills still suck, haha, so I won't be touching warrants for now, not even capitaland that I'm eyeing for so long. Unless for new info comes in of cos, haha :)

Have a great week ahead!