Mistakes from my recent trades

Lately I have made 2 purchases with some mistakes on them.

I will blog them down and try not to commit the mistakes again.

Trade No 1: Allgreen ( auspicious name for all my counter to be green green turned haywire)

Reasons I brought
Based on valuation, allgreen at that time NAV is slightly above 1.50 with a dividend yield slightly above 4 percent. Seeing such such an attractive valuations, I have enter positions using technical analysis near the horizontal support of 1.09 expecting some tech rebound off the support line. RSI indicates that it is overly sold and stochastic has signals for price to go up but MCAD doesn't has any obvious signal.

Good news popping out in sluggish sector!!!
Demand in the property sector showed signs of weakness in the 1st quarter. This sector has been sluggish since July 2007 due to government introduces development charges on project and soaring materials.

However, lately, our Government had planned to relocate some of its agencies and statuory board out of the CBD vicinity to increase office space and NDB is going to release the news of masterplan in the night where all the developers were excited over it. Seeing the severe drop of stock prices since july high, I believe it is trading at a discount now and was optimisstic over the new masterplan results which would benefit the developers and drive the sector up.

But things didn't turn out well... the masterplan deliver no surprises to the developer and does not have any positive impact. The stocks prices then plunged to 0.99 breaching $1 support before rebounding above 1 and stayed there. I have decided to hold the counter till the next property boom which I hope to be within the next four years.

Mistakes and Reflections.
Although the valuations and technical charts are attractive, I should not have ignore the overall general market sentiment and the property sector which happens to considered the second weakest sector other than finance.... Now have to bite onto my fingers and pray it would fall back to 2003 -2004 prices.

Trade No 2: KS Energy ( The counter that never fails on me)

Well not really a big mistake on this just that i had entered slightly earlier even though I anticipated RSI will hit 30%. However seeing the price is at the lower band of bollinger band and near horizontal support and the mid term support line brings on temptation to make the purchase.

Things to note here will be wheather the 50 days Moving Average will hold. best entry would be after testing the moving averge.

Macd going to cross soon, looking to add more positions tml.

Gallant: Lousy chart with interesting details

The stock markets has surge greatly this week. Sad to say, I am not enjoying the ride. But I am glad that i did not do any contra trades for some time.

I was browsing through some charts and come upon something interesting in a downtrend chart. I think it is ideal for a short play on it. Explanation on Chart.

~~~~Accumulating Cash in Progress~~~~

SnapShot of See Hup Seng

See Hup Seng Ltd provides corrosion prevention services for the marine petrochemical & chemical and construction industries.

With the booming marine and construction industries, I believe SeeHS will be able to flourish with the services it provides. May need to hold long to yield big profit.

SnapShot of Hiap Seng

Quick Analysis of a undervalued stock.

P.S. For Bro Max(insider brought at 0.795)

What seems to be cheap got cheaper...

Ok I have loaded up Raffles last friday based on a technique from Tycoon Report. Basically, it talk about using moving averages to determine your entry and that fundamentals solid company will tends to rebound quickly when they break the 200MA. Using this technique, a friend of mine manages to make quite some profits from some counters.

Without giving another thought, i make my entry into Raffles Education @ 1.91 as it break the 200MA line.

Last Friday Today

OK from the above chart, I concluded whatever I brought turns into claypot. LOL, jus another learning process.

The other similar chart will be Midas. Both company are fundamentally strong company that got some scandals lately that caused their prices to fall sharply. But I never expect them not to (hold/trade sideways) under 200 MA.

Well, from this, I learn

1) you never know if the bottom the real bottom.

2) that we should wait for confirmation in reversal trend then make the entry.

Uncle down having bad temper!!!

Ok, things look pretty bad on the world economic leader, I think Uncle Dow will gave markets around the world a tight slap to lower all the heat that has been genearate over the past few months. I believe that will be a good time to pick out undervalued stocks which may need to held for quite a while for the market to recover.

Hehe seems like got opportunites for STI ETF 100 lor keke.

===Project Fish===

Ok, there is one gem that had been residing in my watchlist for quite a while with one i fail to get it for quite a number of trading sessions. Let me unveil it to all!

====Project Fish====

Code Name: Pac Andes

Equipment: Fishing Rod????

I have been eyeing this counter since after I mention shorting to a fellow trader friend of mine. As the business fundamentals is still good, I have been looking for a good entry point after the downtrend stops. When the RSI hits 20% and start to retrace up, I starts queuing for it.

Never knew that fishing is so hard!!! A few occasions and practically week everyday last week, I been queuing for it, setting a 3 bids safety margin away from the open price but fails to get hold of it! Argh! This ikan bilis is really getting on my nerves! I will try my luck again tml!

&%$%&&*)**^$#) GOT IT ON MARKET MELT!!!!%$#&^&**(*#

(-_-")