Wednesday, February 07, 2007

3 Cheers for Longcheers!

Quite happy today :)

Firstly, I bought hsi call warrant again after it dipped down in the morning. I bought another 5 lots at 0.39, averaging upwards to a average buy price of 0.3375, total volume of 10 lots.

The effective gearing of my warrant increased slightly to 17.49 from 17.21, so let me do an estimate of the price given different hsi levels:

Today closed at 20,680 - 0.400
20,800 - 0.440
20,900 - 0.475
21,000 - 0.510 (jackpot)

I've already broke even and getting $140 for my warrants already, and I'm still waiting for the uptrend to persist on. Today it closed slightly higher by 24 points, after a massive drop in the morning. I guess underlying strength of hsi is still very strong. It just need to close another 100 more points for MACD to turn upwards. Stochastics and RSI had already shown clear uptrend, with ema14 days turning upwards too. I think 21,000 just might be possible :)

Longcheer today made me the most happy! Weekly and daily charts show that downtrend might well be over. In fact, it shot up during the last 30 mins before market close for today, probably in anticipation of the release of its quarterly results tomorrow. This rise exceeds even the fibonacci rebound target that I set for it (between 1.17 and 1.20). The next point to look out for is 1.29/1.30, once it breaks that level, I think we should be aiming for the sky! Target set up various brokerage houses range from 1.3, 1.5 to even $2 (dbs).

Trying to get into capitaland warrants but it shot up too high. Results out next week on 14th Feb. Since this is STI component stock and I think STI will rally during budget day/CNY rally AND the dazzling results from capitaland last year, I expect capitaland to cheong up. Just hope either tmr or Fri there'll be a down day and I'll go cheong capitaland warrant. Don't know whether still got chance or not, because it broke all time high today. So just hope tmr will be profit taking or some crap. Crossing my fingers.