Wednesday, August 4, 2010

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.

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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.


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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.

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.

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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.
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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)

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Emerging opportunities

SMRT
Macquire Infra
Alibaba