Thursday, April 26, 2007

Boring trading day

Sianz... My stocks very funny one. If market crash, they tend to do better. Esp Swiber. Swiber goes up when general market is down, but goes down when general market is up.

This is the trades I've done today:
Bought 5 lots of SP Chemicals at 1.37 due to breakaway gap on news of very good quarter earnings.
Sold at 1.35 because sell pressure is too high. Huge blockup at 1.37,1.38 so I cut loss.
Bought H40W hsi call warrant, 5 lots at 0.585 because Dow broke 13,000 and Nikkei is very strong.
Went up to 0.645, didn't sell, when I came back dropped to 0.575, still holding.

Sold Ausgroup at 0.895 because selling pressure is high. Once I detect weakness, I protect my profit and sold off first. Bought it yesterday at 0.830.

If only I took profit for hsi, sianz... Next time must remember not to be greedy. Today STI went to 3400, closing +44. But my watchlist and stocks don't feel that way. I guess a lot of people are taking profits. Not wrong of course.

Swiber went down 0.060. Selling strength getting stronger, but I'll hold on first because my average buy price (0.129) is really too far away. At most will just erode my profits a bit while swiber finds support. Will hold first.

All the constructions stocks took a beating. Yongnam and CSC, HUGE roadblock preventing them from moving up. These 2 I don't care now, because I'm holding for long. Still awaiting for news for award tender, which should be soon. I know Marina sands IR tender was submitted last week. Sentosa IR tender was submitted today. So, it will be anytime within 1 month? I'm just making some intelligent guesses.

Tomorrow Citic bank will dual list in HK and China. Dubbed as the biggest IPO launch this year, I think it will add lots of excitement to China and HK. I hope this sentiment will spill over to HSI. I'll try to get out tmr, before they go for their golden week 'labour day' long break.

Long time never do HSI. Resistance at 20,800. Support vaguely at 20,400. I bought around 20,650, aiming for 21,000. We'll see how dow performs tonight. Dow futures is strong at +37, with strong earnings from apple and exxon.

This is for learning purpose. Take a look at OSIM.

According to Joshings from Cna forum (copyright from Joshings from cna forum), this is a breakaway gap, with news of poor Q1 earnings from Osim. All the conditions are fulfilled. Unlike the breakaway gap like Ausgroup, this one breaks away on the down side. A good trading opportunity here is to short it.

A major movement is already predicted by me. This is due to bollinger band squeezing. The longer the squeeze, the greater the movement will be. Osim has been squeezed by the bands since march, for nearly 2 months till now. Therefore a great movement will be observed when it finally breaks out of the squeeze. Looking at MacD, a downside looks inevitable.

Truly a classic case of when to short.

The impt part is: there is no support for breakaway gaps. All support and resistance will be thrown off. The selling will continue until the buyers find it attractive enough to buy back.

Llengs, if you're reading this, do take note!!

Dow haven't open market yet. Europe is a sea of green.