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 to think things through. My concern was that I will be forced to accept the trade which I didn't commit. Of course if there's profit I don't mind, I mean who would mind free money? But haha, the price of oakwell is 0.120, meaning that I lost 0.005 (excluding brokerage) multiplied by 50 000! No way am I going to pay.

I called my present broker and he reassured me that it could be cancelled. That's rather reassuring for me. I'm going to call my previous broker tmr to ask her to cancel the trade. I'm actually a bit surprised at my calmness actually. I think in the past I'll start thinking about the worst case scenario where I would be forced to swallow the losses, and probably end up unable to sleep or something. But this time it wasn't like that. It's all a good experience in my opinion. Even in such cases, I can learn something from it so that next time if something like that happens, I can advice another person what to do.

I'll update how the whole episode turns out.

STI did pretty well, erasing early morning drop to close up 30 pts up at 3840 with a volume of 3 billion (compared to 3.32 billion yesterday). Quite a few surprise when I saw the watchlist. Cosco cheong up 0.800 (what the hell is happening to it?), straits went up intraday high of 2.40 but closed at 2.280 (commodities doing very well huh?) and swiber closing again at 3.70.

Nothing changed pretty much, target prices still intact. Yongnam luckily didn't go below bottom trendline. The charts for yongnam is quite nice - higher highs and higher lows - very clear uptrend. CSC macd histogram shows Decipher's 4r1g buy signal, with stochastics U-turning on a upward trend. CSC's look like a rising wedge, but might be too early to tell. If it's true, then it's not good. Rising wedge would be invalidated if 0.390 is taken out convincingly, then a bearish sign would be turned into a bullish sign. Let's not read too much into the future for now.

Europe doing well, mostly green. Dow not good, but still positive at 17 pts up presently. Crude oil still at record high of USD 88.21 per barrel. That's like so damn high loh. Will this signify inflation risk that FED is so unwilling to take, and thus not drop the interest rate on 30-31st Oct? No idea, trade according loh.


Noob-trader said...

Whao you are really calm on the situation. your emotional edge getting higher and higher. Congrats :)