7000 Yanlord
E - 1.92
S - 1.85 (Risk $490)
P - 1.98
R/R - slightly less than one.
Uptrend
Price supported at MA20.
Stochastic near OS region, turning up.
SHI rebounded from major support. China sentiment is positive.
***********
Stoploss taken out within the same day! Sigh...
I guess I should still stick to my trading plan.
Long only when the stock is in the OS position. In the middle, the outcome is unpredictable.
*************
Alibaba
Decided against entering around 16 becauase the weekly chart shows that it is still a downtrend stock. The daily chart shows up trend for about 3 months. Need to wait for it to break the long term downtrend line.
My investment journal
Wednesday, August 4, 2010
Tuesday, August 3, 2010
Bought 5000 Singtel shares on 23 Jul 10 using CMC (0.15% comms).
E - 3.09
S - 3.03 (R = $300)
P - Not set but R is 3.16.
Reason:
Stock rebounded from MA100 with a hammer.
Stochastic is turning up near the OS region.
MACD turned green.
*******
Bought 6000 CMA shares on 29 Jul 10 using IG Markets (0.2% comms).
E - 2.09
S - 2.01 (One bid below the most recent low) (R=$480)
P - 2.11 (Proft protection taken out on 4 Aug 10)
Reason:
Stock started the day with exceptionally high vol.
Stochastic is turning up near the OS region.
Lessons:
Rally on 3 Aug 10 saw price hitting 2.18 but closed the day with 2.16, resulting in a hanging man.
2Q results released: proft dropped 24%. Seems like for this period, it is good to sell at rally and when stock is at/close to stochastic OB or at major resistance. Gave up $480 profit for $120.
*********
Seems like for this period, don't expect the market to rally for more than 2 days. It's better to take profit and wait for the next opportunity.
Dow - no indication
STI - dark cloud cover (S at 2960) (MACD, RSI & stochastic bearish divergence)
SHI - bearish engulfing (S at 2590)
********
Emerging opportunities
SMRT
Macquire Infra
Alibaba
E - 3.09
S - 3.03 (R = $300)
P - Not set but R is 3.16.
Reason:
Stock rebounded from MA100 with a hammer.
Stochastic is turning up near the OS region.
MACD turned green.
*******
Bought 6000 CMA shares on 29 Jul 10 using IG Markets (0.2% comms).
E - 2.09
S - 2.01 (One bid below the most recent low) (R=$480)
P - 2.11 (Proft protection taken out on 4 Aug 10)
Reason:
Stock started the day with exceptionally high vol.
Stochastic is turning up near the OS region.
Lessons:
Rally on 3 Aug 10 saw price hitting 2.18 but closed the day with 2.16, resulting in a hanging man.
2Q results released: proft dropped 24%. Seems like for this period, it is good to sell at rally and when stock is at/close to stochastic OB or at major resistance. Gave up $480 profit for $120.
*********
Seems like for this period, don't expect the market to rally for more than 2 days. It's better to take profit and wait for the next opportunity.
Dow - no indication
STI - dark cloud cover (S at 2960) (MACD, RSI & stochastic bearish divergence)
SHI - bearish engulfing (S at 2590)
********
Emerging opportunities
SMRT
Macquire Infra
Alibaba
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