Long candidate

It's last trading day of the month today. Be aware of "window dressing", many blue chips are at or rebounding from their support, after recent retracement, STI may resume its upside move.

Below are stocks at their support level (price).

Genting sp 1.59
Hyflux 1.47
HL Asia 2.0
YZJ 1.265 (Doji)
Cosco 1.14
Ezra 1.2 (bullish harami)
CAO 1.18
IndoAgri 1.58
Noble 1.36
Olam

First Resources

First resources breakout from its consolidation, uptrend resumed. More upside is expected.

STI Pivot Point

Straits Times Index weekly pivot point:

R3: 3096
R2: 3064
R1: 3021
PP: 2989
S1: 2946
S2: 2914
S3: 2871

STI dropped to S1 support today, down 31.3points to close at 2946.78.

Straits Times Uptrend Intact

We had a first down week for STI, after seven weeks of consecutive up in a row. STI immediate support is 2964, major support 2900, major resistance 3000. It has to break above 3000 to conitnue climb upside.

STI Daily:

Bullish Conters In Focus

1. Techoil&Gas: it finally had a breakout from its resistance 92c last Firday, after two weeks consolidation. Nice uptrending stock, more upside is expected. Target is 1.0, it closed at 94c last Friday.

2. Hyflux: Strong rebounding from support 1.465 with high volume on Last Fri. Target is 1.68.

Are we losing 3000 this week?

STI closed at 2968 yesterday. It has retraced from its high of 3030 to as low as 2956 over past two days. It managed to closed above its weekly pivot S1 at 2964 level, but still below 3000. Today is the last trading day of the week, if STI closed below 3000, then we will have a first down week, after seven consecutive up week.

Some of the stocks retraced to (or near) their support level. The general uptrend is still intact, so I'm looking for bullish reversal signal to get in again. Below are the counters with their respective support level.

CAO 1.2
Cosco 1.18
Olam 2.34 (61.8% fib level, retraced more than 50% already)
Wilmar 5.15-5.0
Sunvic 0.495( 50% fib)

Wilmar's Nosediving

Wilmar dropped sharply yesterday on missed expected result. It closed down 64c or 10.9% at 5.22. Still got some room to drop to my target major support 5.0.

Wilmar Daily

Wilmar Weekly

Here it Goes

Forwarded: Market up, COE also up...
Reply: Only salary doesn't up.
Forwarded: hahaha...

Here it goes, STI closed at 2995.59 today, down 29.48. Given many of the blue chips has stalled, I will be very cautious on long side. 3000 is an important level, breaking down it might lead further profit taking in coming days.

Olam Retraced to 50% Fib Support

STI dropped to 3000 support level and managed to bouncing up now, 3011.09 -13.98( 1150am). The overal uptrend trend is still intact for STI. Cheap stocks getting quiet from hot over past few days. I'm still prefer to trade my favorite blue chips after all. The cheap ones are more exicting when it up, but very painful too when it down or sideway( as I'm trading for short term most of the time).

Olam is trading at its 50% fib support level 2.42 after past nine trading days retracement. It's now 2.41,-2c (12pm).

Bullish Setup for Tomorrow

Below are the counters in my focus list for tomorrow trading, there are high probability for them to move higher.

I remember Dr. Elder says: Separate your analsis and trading.  Be an analyst outside trading hours and make your plans and decisions without emotions. During market hours, be the trader and execute the trade plans accordingly.

Hyflux
CNMC Goldmine
OrchardP
Hi-P
Sound Global
Cosco
FnN
Osim
Broadway

CNMC GoldMine--- Gold starts to Shining

CNCM as posted in my previous day post, breaoutout with high volume today. It's up 4c at 56c now.

Hyflux: Triangle Breakout

Hyflux breakout today with super high volume, it's 1.535, +6.5c now. Target is 200ma at 1.62.

Golden Agri: More upside Expected

Golden Agri moving up from its major consolidation area 73c( support), more upside is expected with target 87c.

STI Hit New High

STI hit new high today since this round of rebounce, it closed 3021.19( also high of the day), with 20.6 points up. We are in a steady nice uptrend now. With the three banks set up for more upside move in coming days, I'm bullish for STI, my target for STI 3190 remain unchanged( it may take some time to get there).

The smart way to trade is buy on retracement or buy when it breakout from a consolidation period. Below are the counters in my focus for more upside move:

CAO
FnN
OUE
SMRT
Ascottreit
CNMC Goldmine
Capitaland (breakout from consolidation)
NOL (breakout from consolidation)

GoldenAgri
UOB (breakout from consolidation)

Long Candidates( >50c) Update

1. FnN

2. OUE

3. Perennial China Trust: breakout play

4. Techoil&gas

Lottery Play Update

Below are the lottery play candidates with their current price.

1. Dukang 43c

2. Hiap Seng 34c

3. Marco Polo: 41.5c

3. Midas: 40.5c, enter if it breakout 43c resistance, target 54c.

4. Progen: 14.3c

5. VDH Energy: 17.5c

STI Immediate Support 2990

STI has retreated to 2991, -20 points (10.47am), following overnight US market nearly 100 points drop.

The immediate support is at 2990, and immediate resistance is at 3020. The overall market uptrend is still well intact, it might be a profit taking in place. My target for STI is 3190.

Long Candidates

STI hit new high and passed 3000 level now.

Below counters are rebounding from their support, after recent retracement. Long candidates

FnN
Biosensor
Osim
Goodpack

STI is Knocking 3000

STI opened at 2998.46 this morning--- new high price since Aug 2011.

Market retraced to 2960 support  for the past few days and started to rebounce yesterday, STI is quite bullish and is poised to move higher. My next target is 3190.

STI breaking new high again while I'm writing this, it's 2999.24(10.27am).

Lottery Stocks

I haven't posted for "Lottery Stocks" for quite long time, Lottery Stock to me is like a wild girl to an old man. Good to see from far, but that's it. Can't think more... by Lottery stock, I mean they are typically cheap(below 50c), high risk, high volatile, news driven, but also high return if you can catch it.

I went to scan the whole market for lottery stocks and found few below may got chance for long. They are high in volume (hot stocks), and looks nice in charts.

Longcheer
Seroja
Viking
Yingli
Z-obee
Midas

AutoChartist Webinar

There will be FREE Webinars on Autochartist technical analysis trading tool. Conducted by Mr. Erik Voges, Chief Operating Officer and Co-Founder of Autochartist.com.

Autochartist function can be found on your ketrade platform for technical analysis tab.

There are two session available:
16 Feb 7.30-8.30pm
1 Mar  9-10pm

To register, kindly refer to your email for instruction.

RafflesEdu

RafflesEdu had a breakout from its long time consolidation period (49c resistance)on 8th Feb with high volume, ( as I posted few posts back), it retraced over last three days and resumed its upside move yesterday after it re-tested 49c resistance turn support level. It's now trading at 52.5c +2c (12.23pm).

1st target: 54.5c
2nd Target: 63.5c
Support: 49c

Trading of SIP( Specific Investment Product)

As most of you should already knew that MAS( Monetary Authority of Singapore) required you to pass the qualification access for trading of SIPs(Specific Investment Product), with effect on 1st Jan 2012. SIPs including:

Examples of Listed SIPs

i. Certificates
ii. Exchange Traded Funds (ETFs)
iii. Exchange Traded Notes (ETNs)
iv. Futures (including Extended Settlement Contracts)
v. Structured Warrants
vi. Options
vii. Callable Bull / Bear Contracts (CBBCs)
viii. Foreign Listed Securities

An easy to to identify whether the stock you want to trade is a SIP product or not:
At your KE trade platform, when you see the stock name ending with "@", which indicate the counter is a SIP product. Example:

STI ETF@
GLD 10US$@
STI ETF.ES.1202@
STI 3100MBeCW130131@

Dr. Alexandra Elder

Dr. Alexandra Elder whom write the popular trading books " Trading For a Living", "Come to My Trading Room" in town over the weekends, below are some of his sharing.

The "3M" in successful trading
Mind, Method, Money

Ocean of ignorance
We live in an island of knowledge and surrounded by an ocean of ignorance. As our island of knowledge expands, our boundary of ignorance increases too. The more things we learn, the more things we find that we do not know or understand. There is no way one can totally understand what the market is doing.

Elephant vs. Rabbit Hunting
I'm not claiming one style is better than the other, but one must find a method that is comfortable to execute. I'm a rabbit hunter – someone who trades in and out within a short period of time, taking smaller profits as compared to someone who trades for a longer time frame. I don't try to catch big trends like an elephant hunter. I am happy with a rabbit.

Keep a journal
The trading journal is necessary for a trader to improve his skills. He should grade his results in 3 areas.
Buy Grade (high – buy point) / (high – low). More than 50% is considered a good buy
Sell Grade (sell – low) / (high – low)
Trade Grade – how much of the moving envelope range did you capture? 30+% = A. 20-30% = B. 10-20% = C.

Learn to Survive First
As a newbie, the most important thing is learn how to survive. The two causes of trader's mortality are

1) a single disastrous loss
2) numerous small losses that add up to disaster
To survive, a trader must apply the 2% and 6% money management rules. Never risk more than 2% of your capital per trade and never risk 6% of your capital for your entire position. In other words, if you risk 2% per trade, you can only get into 3 trades.

Technical Analysis
There are 4 styles in trading
1) Insider trading
2) Fundamental analysis
3) Technical analysis
4) From the gut
FA cannot determine the waves of optimism and pessimism of the market participants. TA on the other hand is the reflection of psychology of the crowd. Dr Elder finds that TA suits him the most. Fundamental analysis may take a long time to realize profits. For example, Boeing had orders fully booked for the next 6 years but its stock price still fluctuates day to day.

Separate the Analyst and the Trader
In big institutions, there are analysts and traders. The analyst will plan trades while the trader will execute them. As an individual, you have to be the analyst and the trader. However, you can only be either one at any one time. Be an analyst outside trading hours and make your plans and decisions without emotions. During market hours, be the trader and execute the trade plans accordingly. The trader must adhere to the trade plan faithfully.

Why do people lose money in trading?
Many people traded out of boredom. A typical trader is a college educated 50 year-old who finds his work boring and mundane. He wish to trade his way out of the current lifestyle. He is trading for fun, and not for money. This is why most people lose, because they are simply engaging in the activity for pleasure. There are two objectives in every trade
1)To make money
2)To become a better trader.

Focus on Trading not Money
Although one of the objectives is to make money, one should not focus on how much money is made or on the Profit and Loss statement. The analogy given was about the medical doctor who runs a clinic. If you ask him how his business is doing, he would roughly estimate the number of patients he have seen. He is not going to say he had made $x amount of money. Focus on trading quality.

STI Facing 3000 Resistance

Continue its strong bullish momentum these days, STI hit high of today at 2994.5, about 6 point to the importance psychological level 3000. Most of the stocks seen from downtrend turned to uptrend already.

However, as STI has extended its bullish run up these days, most of the blue chips are in overbought region now. A healthy retracement is expected. Today, STI retracing back to 2960 support as at 3pm, down 21v points from yesterday's close. Next support is 2940. This round of rise since the beginning of the year may come to a stop for now. As of today, STI has rebounced for about 350 points or 12% from last year end at 2650. It hitting its long term downtrend line as well.( See chart below).

My STI momentum indicator also showed extremely bullish momentum, in the highest of 180 reading. It's where the possible points market turn around.

Raffles Edu and TechOil& Gas

Raffles Education breakout from its multi months consolidation from 47c, with super high vol. It closed at 52.5c yesterday and is trading at 50.5c now(1.15pm) due to profit taking. Any price near to 47c will be a good opportunity to enter for long.

TechOil & Gas:
Breaking out from its consolidation 88.5c yesteray, more room to upside.

STI Uptrend in Good Shape

STI is moving higher steadily, breaking Resistance, it's uptrend has been well intact so far, and I see couple of  stocks is positioned to move up further.

Cosco
STX OSV
Genting sp
HKland
Techoil & Gas

STI Momentum Update

STI is at its overly bought stage, with target of 161.8% fib level at 2954 reached yesterday. Current STI price at 2945( 12.15pm), is also the gap resistance area. Probability of a retracement on STI has increased now.

On the other hand, my STI momentum chart also shows STI has exceeded its top band, which indicate extremely bullish and overbought, a retracement will usually follow through when market gets too hot.

Immediate support level to watch for STI is 2940, then 2918 will be the next major support if it closed below 2940.

Golden Agri Breakout

Golden agri breakout from its resistance 74c, target is 80c, it closed at 76c yesterday.

OCBC Breakout

OCBC breakout firmly from its resistance level 8.6, more room to upside. With target price at around 9.4 to 9.5

Major Market Update

Good morning everyone. Below charts are the major Indices updated in my weekend workshop, for those who unable to attent.

STI closed an inch below its important 50% level at 2918, more upside to go if it can break and close above this level.

DJI marginally break above its multi year high on close last Friday. Very bullish.

S&P 500: at Resistance level last Friday.

Nasdaq: the strongest one among the three US indices. Breaoutout its major resistance level on Friday.

Hang Seng:  similiar to STI chart, HSI at its important 50% level 20734 now, more upside if it can break and stay above this level.

Shanghai Index: one of the worst performer in the world. Shanghai index lagging behind a lot, still got a lot of room to catch up.

Long Candidates

Good morning, a quick notes here for your reference, market is poised to move upside, I have below counters in focus today ( Long candidate):

Buy on pull back:
Genting sp
Tiger
SMRT
FraserCT
ChinaMin Zhong

Breakout:
SIA Engg
Libra

SIA Engg Breakout

STI recovered its early lost in the late afternoon on Chinese manufacturing expands. STI managed to hold above its support 2900, closed at 2904.76 today.

SIA engg breakout firmly today. More upside is expected. It closed at 3.54, up 7c today.

" 炒股必胜法”