I'm still a bear

one last post for the moment. I'm still cautiously bearish. But it doesn't mean I won't long if I have a long signal come up. As a trader,we need to be flexible and nimble. Too confident is a danger in trading. That's all for now, I'll be back.

A Sweet YET Ugly Apple

I sold Apple(AAPL) exactly "just in time", which really lead me to crazy. Because Right after I closed out my call position which i bought a day ago, it soared! within less than 10second. i didn't realise it's actually forming a nice ascending triangle pattern.



In the late trading hours, I was able to re-entry a call position after it retraced back to its trendline support(around 125.25) and luckily caught a dollor profit when it soar again(peak at 126.75). I closed out the call before my bed time, and checked this morning it actually came down hard and I sold it at around the peak. Gee...! Damn lucky I still got profit out of it. It's just normal for the up and downs. Nothing unusual.

AAPL is a great candidate meant for Day- trading if anyone out there interested.

Everyone's Gone Bull

Look at the S&pP 500 chart, bears are at danger with the fully-controlled, mad bull attempting to break 880 line.

Oh...Lame

That's why my Olam was barbecued. I entered Olam at 1.73and was stop out within the day with 3 cents loss. it's ok. nvm.

I got two things which buzzed me. The good one is yesterday I longed DBS before Market close and it gapped up this morning on market open, em still holding it. But the bad things is I forgot to cancel my F&N stop loss and it was triggered this morning on mkt open--it's highest price till now, the stupid Marketmaker platform! wooo... I closed it out with a minor loss, overall i'm still profit but i just feel like a loser.

Well, it's normal, nothing unusual.

Short candidats

Good day! Today US market will be a much busy day for me, with S&P 500 futures negative 15points and Down Jones futures negative 127 points now. US is expecting to to open lower. I'm going thru my charts now... there are plenty of shorting opportunities and I'll be full loaded. Last night already shorted SPY and RIMM.

Here I have a stock for singapore short candidates:

Olam with stop loss @1.76, chart yourself.

Nice weekend ahead!

Weekly

This week's action is fully expressed in the candlestick chart shown below. If you've ever wondered what an ideal hanging man pattern looks like, here is a real time example.

Just to note, S&P 500 is seen as market benchmark by most of traders as compare to Dow Jones.

Super Strong Commodities

If you haven't bought a piece of commodities share yet. U probably missed out large part of the easy money. I have stressed this is the only sector which is nice uptrending. Stocks such as IndoAgri, olam, wilamr, Noble all rallied with stunning gain. check the charts yourself...

Trading Psychology

Trading Puzzle

I have been busy with US mkt till now. I had exactly 10 positions both calls and puts before market open, which was entered most on Friday. i got to quickly check through those calls and close out them if they were dragged down too much( well, these are strong uptrending stock, by now i decided closed out all of them since mkt so bearish, and can buy back later ), and let my puts run all the way down... overall i still got stunning paper profit till now.




i feel em facing the puzzle of taking profit, if i can improve my profit taking properly, my profit at least can be double as compare to what i actually got. in other words, i lost at least half of my total paper profit due to the poor exit point, it's annoying. Now What i'm trying to do is to force myself to take profit on strong trend, either up or down.

And force myself to trade only on what i see. understanding fear often accompanies reversals in my favor and hubris often accompanies reversals against my positions. I'll be much richer if i can follow these rules strictly.

and, last but not least, is to keep a peaceful, relaxed state of mind...bed time. nites!

Game Over

With Dow's negative by 230 points(7900 now), the 6 weeks of bull rally finally come to the end. We have plenty of short opportunities out there. yes, plenty.

Hi-p

I'm shorting Hi-p with a stop loss at 0.61, it may still climb up 2 or 3 cents but it's a nice short candidate for me. This is kind of lottery stock, which i mean it's relatively immobile, penny stock and i just put small amount of money on it and hope it would have a big move.

Q & A

As mentioned before, commodity sector remain as one of the strongest sector.Noble just broke its resistance 1.34 on daily chart, you can hold on to it if u already have the position. so, look at 1.34 this support.

Capitacomm is at its resistance at 0.88 now.

The Velocity

Probably there's one question in everyone's head is: when the hell of this super bear rally end? This is Dow's recent chart, you can see the velocity of advancing is slowing down, almost flat now. Coming week i'll definitely look for shorts.

NOW

Stocks at immediate Resistance

With the Dow pull back to its sub 8,000 level. I'm watching couple of stocks which sit nicely beneath their resistance.

Strong Commodities and else

I can't remember did i mention here. Commodities sector are in the nice up trend. if you are looking for long opportunities, look for this sector first. You can refer to the sector list if you are new here.

Besides this, SPC, Gen int, Ezra all are nice long candidates.

However, I will keep an eye on those stocks near their resistance for short candidates as STI is approaching its resistance, Dow jones still got another 300point which i think will happen in coming days to move up to its resistance 8,300~ 8,400 congested area, then a pull back is very likely.

If you are long, keep longing. just be alert when it against you, don't give back your profit. I'm preparing to exit my OCBC long position as it at its resistance. see how it goes 1st.

Haven't completed all charts review yet, will update more in the morning, if any good trades. Sweet night!

EZRA-- Long

Here I am. last two market trading days I was preparing for one of my professional test and I passed with good score( in the range of 80~100).I'm relieved, congrat!!! Sorry for the absence if anyone out there come to this blog daily, u maybe disappointed. My Apology.

hey QZ, I'll definitely give EZRA a long position. yes, long! long! haha. The reason being:



1. the volume for the past five month was enormous high.
2. the major resistance 0.85 was tested twice during the time period and finally a breakout last week.
3. I can't find any reason why shouldn't long given current bullish sentiment.
4. However, a pull back( if it does) to test the 85 cents support will be even better!

The Taosim

Long ago, there lived a farmer at the edge of a small village.

One day, his best horse broke through the fence and ran away. The farmer's neighbors came to visit and give him their condolences for his loss.
"Such bad luck!" they said sympathetically.
"Maybe." replied the farmer. His neighbors were puzzled by his response.

The next day, the horse came back, and with it, followed two new wild horses.
The neighbors, hearing the news, visited the farmer again.
"Wow, such good luck you have!"
"Maybe" said the farmer.

That day, the farmer's son, while attempting to ride one of the wild horses, fell and broke his leg.
"Oh, how unfortunate!" the neighbors said.
"Maybe" the farmer replied.

The following day, a military brigade marched through the village on the way to war, drafting all the young men in the village for their army. They noticed the farmer's son's broken leg, and did not draft the wounded young man.
"Such good luck!" said the neighbors.
"Maybe" said the farmer.

The best outcome I "hope" to see

Well... My opinion for the coming few days is, a pull back first then rebound on major support. Above are some of stocks i have gone through, most of them already break major resistance and "ready" for a pull back before the next rally.

The banks

Short Candidates(Sg)

Below are the short candidates with stops which I'm monitoring:

Capitaland 2.9
F&N 2.81

Stocks Near an Immediate Top

I've seen many stocks near their immediate top. The coming week is important to watch out where the stocks pull back, if hit support level and rebound. IT's great opportunity to long.

Look at Dow Jones, it's currently trading at it's 61.8% Fibonacci retracement level. A retrace pull back Dow to 7,800 or 7,500 then rebound is possible. Just my prediction, I will post more charts in coming post.

Long Candidates

CapitaRChina
SPC
Wilmar
Gen tin
Yanlord
Olam

Olam and F&N

Olam have a nice breakout yesterday,a pull back to its support level around 1.53~1.49 is an opportunity to long.



But for F&N, it's different story. I'll only consider to long it when the 2.7 resistance is broken.

What a day!

I got bad days, I got good days. But, today is terrific great! I went to massage my back before US market open..just to "sayang" my stiff back. I closed out all my call options after market open as they gapped up. My hand free today,phew~~~! I got some thoughts below:

1. Stock market can not don't play one. When u are desperate, feel no hope and decided not to play anymore, it's the time for market to turn.

2. The moral is at any one time, do not use out all your "bullets". So you stil can turn around the situation when mkt favor you.

3. Try to practice this habit, review weekly chart after every week is end. Review monthly chart after every month is end.

4. When you losed three trades continuously(if u followed the rules but still lose), don't go for 4th! Take a break, re-look the market freshly. Does the market moved another direction?

5. Put stop loss for every trade. If you lose, lose small. Don't wait and hope. You hope, you dope.

Alright, bed time. one last remind, with the market going up crazy like this, if you are long, stay long and prepare to take profit, when u prepare to go in, watch out those resistance level. i shall do some charts review tomorrow. night!

Bottoming Out stocks

Nice picture, I realised sometime we are too focus on the narrow picture: daily, intradey, hourly chart but forgot the BIG picture. See the pictures below will you think twice when short these stocks? of course they can be lower, but they are the bottom---at least for now.


















I think it's enough for today? good night.

Let's take a look at the BIG picture now

Hello All,

I'm back! miss you all. I'm back with some clearer picture in my mind now. With research "deep" into the charts,i went through dozens of charts again, on MONTHLY, the finding really surprised me.

The finding is: On Monthly chart, most of the stocks including indices formed bullish candlestick reversal pattern. since March just end, i think it's important to take note of this. That means to say, we got to be very very be careful when doing shorting. Which also explained why recently shortists got barbecued.

I understand recently a lot of bad news and also good news are released. But guess what, I really pay little attention to the news, i don't subscribe to financial news paper either, though i don't mean reading is no good. News are interesting but charts are real. I prefer to let the charts speak to me. HOWEVER, pls note, all the candle patterns need confirmation, thus the following month(April) is crucial. What the charts can tell is past, we did prediction based on the past, that's T.A.

No matter what, follow rule is important. When i'm wrong, don't argue, cut loss quickly. fair enough?

I shall post some charts soon...