Saturday, January 06, 2007

Earnings nosedived to negative $620

Okay, bad trading day extends over to dow too. It is now around -80 plus. I hope hsi direction would be clearer on monday. I hope it's a day for put warrants.

Reflecting on the afternoon's episode, I think I'm getting greedy. There are chances where I could have cashed in on my warrants and earn some money, but I kept thinking just one tick more. This is irrational. Next time, I'll try not to be greedy, it's just something that I have to fight back everytime.

Most important of all, do not put more money when the bet is wrong. JUST CUT LOSSES! It's so easy to say but so difficult to follow. CUT LOSSES, CUT LOSSES before they snowball! Must learn to take the pain of cutting losses. This calls for a lot of discipline.

Yellow page seems to have gone mad. For the past couple of days it has been rising up. I wonder what's the big accumulation of yellow page for? Pac Andes expectedly went up because its subsidiary china fish acquired more and more fishing supertrawlers. Longcheer went down further. But knowing longcheer characteristics, I'll say it's normal. This stock has a habit of cheonging when nobody's expecting for 1 day, then fall again before repeating. I think it have to cover the gap before it can cheong again since it gaped to 1.37. So, I think it still has some more distance to go before the gap is covered. The highest point reached recently is only 1.35. 1.37 should be the resistance to overcome.

My total returns nosedived: -$620
(due to my stupid warrant episode..and the spiraling down of longcheer)

I'll reflect on the trading i've done for this week, perhaps tmr or sunday.