As expected before fed meeting, STI closed flat at 3805 (7 points up) with a volume of 2.09 billion. Market was very quiet today. I can feel it because my watchlist looks like my browser hanged up...totally no movement at all. Lianbeng was up 0.025 to close at 0.660. Being the new market leader in construction, I think the upmove should be indication of renewed interest in construction shares. Most of the construction shares are down though (but being the market leader, it should move first, no?)Commodities ETF took a hit, it's down by 0.060,...
Wednesday, October 31, 2007
"Who chooseth me shall get as much as he deserves"
The second suitor chooses the silver chest and reads the following message:Some there be that shadows kiss;Such have but a shadow's blissThere be fools alive iwisSilvered o'er and so was this...Taken from Merchant of Venice, the second suitor for Portia chooses the silver chest, and fails to see her picture inside the chest, but got the above inscription instead. A case of wrong timing?I just discovered this guy called Ted butler, who gives very...
Swiber's chart
Was playing with chartnexus, practicing drawing my support/resistance/trendline when i came across this nice trendlines that can be drawn for Swiber.One of my friends asked me about the validity of support and resistance. I think the above chart shows how most of the time, support acts as the underlying strength for the stock to bounce up while the resistance acts as the ceiling for the price. Of course, where the support/resistance is broken, more...
Tuesday, October 30, 2007
Oil price vs fed meeting --- oil price wins :)
STI drop a little today (which i feel is good). It closed down 21 pts at 3798 with a volume of 2.28 billion, down 0.56%. Property stocks continue the decline after govt announced that the deferred payment for property is going to be scrapped away.Surprise development of Labroy marine. It was reported on ST today that the company had a foreign exchange (fx) loss of about 200 million. This was right after sembcorp marine announced a similar loss over. As this is the second company to be hit by the weaker US dollars, the pressure on shipbuilding...
Monday, October 29, 2007
STI up 48 pts to close at 3819 - testing 3900 soon
STI powers up another 48.23 pts to close at 3819 with a volume of 2.64 billion. Again, this time I felt left out in the rally. My stocks didn't really move up. I guess that means it's rotational play. Definitely not property I guess :)Property stocks got a bit battered today after measures are taken by the govt to curb the hot property market. They scrapped off the deferred payment scheme for would-be buyers. This might be good for banks, because they would receive the money now instead of a few years later. I doubt this would curb speculators....
YZJ chart
This is for Charlesming.YZJThis one is one hot stock that many people follow. Interesting indeed :)(haha, noob alerted me that this stock do not have dual listing, which I subsequently changed, sorry!)From the looks of it, seems like resistance at 2.74 is a really strong barrier. Ascending triangle formation is seen, which is a bullish pattern most of the time. Target price of 3.15 is set if the price breaks away from 2.74 resistance with high volume....
Market crash series - dot-com crash
Haha, it's been quite some time since I posted the market crash series. I think with every rally, each lesson learned in the market crash series becomes more and more relevant. It's true that history keeps repeating itself, that's because human nature seldom change. Greed and fear, 2 emotional devils that keep on haunting investors and traders alike had and will continue to cause bubbles due to irrational buying and value hunting due to irrational...
Friday, October 26, 2007
How i started learning technical analysis
For TH and those who wanted to find out a little more about technical analysis.I started off with investopedia, a pretty comprehensive (lots of topics to start you off, but brief) website that teaches you lots of things briefly. It's enough to whet your appetite to find out more (if you want) and it's pretty easy reading. When starting off with investment, there's a mountain of jargons that you will come across, so this website is very good as it uses and explained all the terms you'll come across again and again.I basically printed the basic...
Sold off straits too early
I'm human afterall. Even though I pyscho-ed myself not to feel the pain of selling a stock too early, it's still affecting me, honestly. But to be fair to me, it's not as painful as last time where I would even calculate how much 'gains' I would have made if I sell it today.I'm talking about straits asia of course. Sold at 2.45 and got a big shock today when it went up 0.43 (16%) to close at $3.Based on my amateurish TA views, the weight of evidence...
Thursday, October 25, 2007
STI up 1.59%, up 58 pts
Quite a surprising turn of events. I'm half expecting Dow to have a big drop (-200 like that?) but it closed very well at -1 pt from -160 pts intraday. STI reacted accordingly and closed up 1.59% (58 pts) to close at 3707 with a volume of 2.49 billion. STI was actually sluggish throughout the morning session until after lunch where STI surged up strongly.One stock which is very scary is Uniasia. Big selloff, big rally. Highly speculative with no...
Charts for TH
This is for TH, who requested me for some advice on 3 stocks - Thakral, Lereno, Guanzhao IFB.I wonder why you wanted to buy these stocks? There are no stories behind them, rather illiquid (low volume) too, definitely not on the sights of BB and speculators, I suppose. Do you buy them for their good fundamentals? I do not know how well their fundamentals are, so no comments on that. I do hope you didn't buy these sub-pennies because they are cheap...
Wednesday, October 24, 2007
Cosco won contracts yet again...this time it's USD 1.34 billion
Quite tired after an outing, so this is going to be brief.STI was up 30 pts in the morning, riding behind the back of Dow's performance last night. But all that changed towards the afternoon, where we see STI breaking 3700 before closing down 46 pts (1.25%) at 3649 with a volume of 2.4 billion. The usual culprits are the banking stocks, which probably contributed to the big selloff in STI. I think investors might be worried about what kind of profit they will post after the subprime debacle that happened in August. I think the worst hit should...
Sold off straits asia resource
Today I sold off straits aisa which I had been holding since 2nd May this year.Looking back on my post on 2nd May, I bought straits because it had a breakaway gap when UBS issued a report with a target price of 1.31. Volume surged 1.5 times the average. Based on charts, straits broke out of symmetrical triangle on the upside with indicators supporting more upside. I bought at 1.13.Today I sold it all off at 2.45. I would like to say I sold off straits...
Tuesday, October 23, 2007
I learned that I learned nothing about TA (technical analysis)
STI did pretty well, riding upon the back of Dow's performance last night. Dow was up 44 pts, helped pretty much by the fact that tech stocks did a rally. All riding on the back of Apple's solid results. HSI did a reverse of what happened yesterday, it went up 1000 pts. Remember I said about Jakarta dropping around 4%? Today it went up 4% too. STI went up 52 pts (1.45%) to close at 3695 with a volume of 2.1 billion.Basically back to square one. Really? Not so. I think underlying strength must be strong so that most indices can bounce back to pre-sell...
Monday, October 22, 2007
STI fell 2.81% to touch ema50 days
STI fell 105 pts (2.81%) to close at 3642 pts with a volume of 2.5 billion shares transacted. HSI did better, dropping 1091 pts (3.70%). But I think jakarta did the best, dropping 4.31% among the asia pacific bourses. This is all in response to Dow's big drop last Fri of around 360 points.Seriously, STI need to correct itself before the final push of the year end rally. STI had risen too fast in the first 2 weeks of Oct, so treat this as a good chance for things to cool down a little before we resume the rise. From today's action, I can see supportive...
Friday, October 19, 2007
All well that ends well
Just received a message from my previous broker that her operation staff in the backroom had mistakenly posted the oakwell engineering trade to my account (I wonder how that can actually happen). They have since squared off the position, which is what I've observed too. And of course, I do not have to pay up for the contra loss.Oh well, looks like the whole incident is truly settled. Quite good customer service from poems, I must say.I still remembered that long long time ago when I wanted to make my very first trade, there's something wrong with...
Error trade settled? I hope so!
I think my error trade episode have more or less concluded. When I checked my old account where the error trade was done, I saw that it was sold away already. Bought 50 lots at 0.125 and sold it all at 0.120, that's a loss of around $309 (plus brokerage and what not). Who's going to pay for that? I'll not be me :)I posted the above picture cos I thought it's funny. Sometimes shit can happens without you looking for it, it just drops onto your head...
Thursday, October 18, 2007
Let's wait and see
My previous broker returned my call already. She told me she had no idea why there is a broker aided trade (meaning calling broker to make an order) when she didn't receive any calls to buy oakwell engineering. I told her there's no way I could have made the call simply because I do not enough know her phone number until she called me!The call ended after she said that she'll refer the matter to the backroom staff to settle. I think i'll just wait and see how it goes. The episode is more or less settled lah. Must make a big thanks to the people...
Office number not in use?!
Updates on my rather unfortunate incident.Called my previous broker linked to my old trading account, but her office number is not in use. I just get a rather cold reply saying that this singtel number is not in use. Oh well.I was wrestling with panic attacks in the morning too. I kept thinking in my mind how the situation would not be resolved and I would be forced to take the losses and so on. Strange huh, people always think of the worst case scenario, then it affects their mood then they'll think even worse case scenario. I stopped myself...
Wednesday, October 17, 2007
I "bought" 50 lots of oakwell engineering
Nothing seems to go right with me today.Quite an unlucky day, both at work and at home. When I came home, I got a bigger shock. I received a statement saying that I bought 50 lots of oakwell engineering at 0.125, using my older poems account! What the hell loh, I didn't even use my older account to trade any stocks and since when did I buy 50 lots when my typical volume is just 5 to 10 lots? To add salt to injury, I'm supposed to have made the trade on 12th Oct, when I was still in reservist!After panicking for 5 mins, I went to take a shower...
Tuesday, October 16, 2007
STI down 1.33% to close at 3810...get ready for some rough weather
Market wasn't fantastic today. Maybe I wasn't used to the kind of magnitude after having withdrawn from watching the market for 2 weeks while in reservist. Today STI went down 51.3 points (1.33%) drop to close at 3810 with a volume of 3.35 billion (much larger than yesterday's 2.3 billion).Two catalysts that could be used to rationalise the drop are:1. Oil price breached US$85 per barrel2. FED might not drop rates at the end of Oct after they released...
Monday, October 15, 2007
Finally got to watch intraday prices :P
STI went up to almost 3890, just 10 over points short of reaching 3900, before it lapses during most of the afternoon, closing 4.8 pts up at 3862 with a volume of 2.3 billion.I'm not sure of the story behind uni-asia, but I read from cna forum that a lot of people are cursing this stock. Rose up too fast and dropped even faster - that sort of speculative stocks I think. Today it dropped 0.550 pts down - possibly got shorted big time by some big...
Sunday, October 14, 2007
I promise...no technical charts today :P
Had a great time at reservist.It's a privilege to lie and sleep in the jungle at night and just stare at the stars, thinking about stuff. Seldom do we have time to stand and stare, so this compulsory break away from the hustle and bustle of life is indeed a welcome change to my hectic pace of life.I dare say I had a personal breakthrough in my life while in reservist. While most of my friends would opt to leave half their brains in the guardhouse before booking in, I prefer to use all my brains to think through my life. What better time when one...
Saturday, October 06, 2007
Weekend thoughts...tired man
Just came back from reservist for the weekend. Going back for another week and I'll be though :)The world market cheong until I don't know what to say man. Missed so much action, haha :P My stocks have been doing very well too, so today it's time to chart out the progress to see where it'll go next. I'm totally out of touch with global news, so it'll just be from charts.Among the stocks I checked, I'm very bullish with swiber. I saw on tv mobile...
Tuesday, October 02, 2007
Missed all the action!
What a great bull run for STI! And to think that I missed it all whilst in reservist (i'm still in).Dunno what the hell is happening outside man, but when I check all my portfolio stocks, all rise like mad, esp those china related stocks!CSC up 0.015 at 0.365YN up 0.015 at 0.440Straits up 0.030 at 1.690 (intra day 1.750?!?)Swiber up 0.200 yst but today down 0.080 at 3.580Pac andes down 0.015 at 0.845GK Goh the powerhouse up 0.060 to close at 1.340 (what's the news??)Though I dun have my spreadsheet with me now, I confirm plus guarantee break even...
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