Friday, 29 August 2008

China XLX & Li Heng

Bought some China XLX at 53.5 cents. Initial target around 60c to 64c and cut loss below 50c. Let's see how it goes.

Bought some Li Heng at 53 cents. Initial target 56c to 60c. Cut loss around 48c. Let's see if can make some pocket $.

Happy trading.

Saturday, 16 August 2008

Market "Gurus"

A leopard never change its spots. That is what exactly is happening right now. Kelvin Han is conducting 'live' trading sessions just after his release from prison. You can see from his earlier posting that he is not sorry at all for losing the money and still claims that he is the 'victim'.

I remember crossing swords with him very frequently when he was still known by the nick of toptrader10 in At that time, his traits of irresponsible calls and stock picks already showed and that really irks me and frankly, i wasnt surprised or shocked as i know it is a matter of time he will end up in jail.

If Kelvin Han is teaching people how to lose money, then i wouldn't have called him a cheat and a fraudster. AND if he loses his own money, i wouldnt have care much either but to lose $700,000 of other people's hard-earned money, i call that total irresponsibility and a man with no morals. I would have thought that he have learned his lessons after serving time in jail but apparently i am wrong and his "passion" to con people is stronger than ever. For the sake of yourself, please trade with your own money and stop worrying about paying back the bad debts. I am sure your ex-"investors" have already written off their losses and your future potential investors will probably thank you for it...

Let me quote you a paragraph from "Trading for a living by Dr. Alexander Elder".

"Many losers think that they would be successful if they could trade a bigger account. All losers get knocked out of the game by a string of losses or a single abysmally bad trade. Often, after the amateur is sold out, the market reverses and moves in the direction he expected. The loser is ready to kick either himself or his broker: Had he survived another week, he might have made a small fortune!

Losers take this reversal as a confirmation of their method. They earn, save, or borrow enough money to open another small account. The story repeats: The loser gets wiped out, the market reverses and "proves" the loser right, but only too late - he has been sold out again. That's when the fantasy is born:"If only i had a bigger account, i could have stayed in the market a little longer and won."

Some losers raise money from relatives and friends by showing them a paper track record. It seems to prove that they would have won big, if only they had had more money to work with. But if they raise more money, they lose that, too - it is as if the market were laughing at them!

A loser is not undercapitalized - his mind is underdeveloped. A loser can destroy a big account almost as quickly as a small one. He overtrades, and his money management is sloppy. He takes risks that are too big, whatever the size of his account. No matter how good his system is, a streak of bad trades is sure to put him out of business." - Dr Alexander Elder.

For those who is prepared to pay the $98 'session', may i suggest you spend $338 to attend this seminar instead or read his book. It might just change your trading life and you will thank me for it.

Thursday, 14 August 2008

Formula One

I collected my Formula One "entrance pass" today for the Singapore Grand Prix. :) Let's be part of the historical moment in Singapore history! If you havent get the tickets, i think there are still some tickets available on the website.

I was watching the re-run of the Beijing 2008 Olympics Ceremony, if i have the tickets, i would have loved to attend the Opening ceremony. The entire show was majestic and grand and i think China sure have done herself proud. Some of my friends are in Beijing right now, watching some games "live" in action.... wish i am there... hahaha.. Anyway, one of my friend just came back froom the opening ceremony and showed me the goodie bag (similar to what we had for our national day celebration).

Olympic Goodie Bag

The goodies in the goodie bag for participants of the opening ceremony.

Tuesday, 12 August 2008

Olympic Hangover?

Deutsche Bank private wealth management issued a report on "Bearing in on an Olympic Hangover" and concluded the following:

"Some may call it coincidence but historically commodity prices have rallied in the run up to the Olympics. Since 1980, when commodities have rallied in the year preceding the start of the Olympics (1980, 1988, 1996, 2000), returns were negative in the following year. The only exception was in 2004 as the commodity strength continued after the Olympics. In 1992, commodities strengthened after the games but lacked a rally in the year before the Olympics."

Anyway... the conclusion is attached... and you may want to read my previous write up on the Commodities.

Monday, 11 August 2008

FT China Index

FT China Index broke its recent low and my advise to all is to 'siam' S-chips. S-Chips is likely to be cheaper in the coming days and this is led by the Shanghai Index which has already dropped 60% from its high. Not sure if it is China or US that is having this sub-prime woes?!

Tuesday, 5 August 2008

Celestial - Exit

Portfolio Update

Today i exit from my position in Celestial with a loss. Amazingly the stock staged a remarkable recovery and closed with a nice hammer. :( I will "lend" the money i lost to Mr. Market and take it back from him another day. No positions on hand for now.

Straits Times Index

STI was on the verge of breaking 2,800 level today but it staged a remarkable recovery to end the day with a long tail. The support at 2800 is once again protected and the tail comes with rather high volume traded (double the usual trading value). The indicators which i use are rather mixed right now and are bearish bias except for the candlestick - hammer plus high volume. This is an early indication that the market is trying to find its footing. However, if 2800 support breaks, the next support level will be 2,750 and if this support zone gives way, it could mean the start of another down leg and this correction will be extremely painful to the "long bias" investors.

Monday, 4 August 2008

National Day Parade 2008

This is where i spent my weekend with my family doing national day service and contributing to the economic growth of Singapore... the 2D1N stay at Ritz Carlton on the 29th floor contributed $650 to the GDP of Singapore. The highlights for me was definitely the performance by Black Knights (look at the nice heart shape) and the fireworks at 8pm. The kids had a great time. Count on me Singapore... :0)

Friday, 1 August 2008

Portfolio Update - Exit Straits Asia

I am out of Straits Asia this morning at 273 (bought at 260) as it hit my trailing stops. Time to enjoy the weekend ahead.... i will watching the 2 Aug national day parade! Time to feel proud to be a SING-GA-POR LANG...

Portfolio Update

Celestial - This company really starts to irritate me... seems like i may have to cut loss soon if 725 gives way. The results announcement is coming up shortly...

Market Depth

I have not been trading actively since Nov last year and i lost my 'free entitlement' to market depth... I got that back in July this year. Yippee... feels like getting an arm back. As least i have better insights to the pre-opening and closing prices as well as better gauge where to place my buy and sell orders more effectively. iOCBC is the 'cheapest' way to get your market depth for free among all trading firms.
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