My Trading Adventure

We are at resistance and overbought level

CP TEH
Publish date: Mon, 31 Oct 2011, 12:08 PM
CP TEH
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All the writings in this weblog are mainly for PLEASURE reading purposes. I am in NO position to recommend a call(BUY/SELL). Please check with those know-hows before you make a decision. Yes, I am just a learner, with only five years experiences in KLSE. So, please BEAR with me.
Noon ... been too busy to write ... as market moving to resistance level and into overbougth region, it is only logical to reduce our exposure and wait for correction. Of coz one may argue that he is a longer term investor and the coming correction will be a good time to average up, and riding on the current bull-rally. Bull or Bear rally? We dont even have the dicrection?

The Double-E

ENG : Seen some buying this morning and decide to take positions on her. Will increase my positions if breaking 1.62 today.

EAH : Shooting much higher today ... so, taking small positions.

Losses : I have cut Hibiscus-wa for a loss and it is the largest loss(of RM700+) so far in months. Yes, the last was in July when I cut-off many ...

SEGi : Up at ... 1.80 today. Some accumulation seen ... pushed up today.

Heard of the quote " Be fearful when others are greedy?". Of coz we do ... but but ...

TopGlove : Spent some time to share with my tratles(in our CLOSED facebook) regarding how we should buy into good stocks in order NOT to lose money. Two of them, BL and Jess are in postitions around 4.10 level. So, at 4.30 today, what is next? What I share with them are for their learning purposes. Profit-loss is their own responsibilities. It is my responsibilities to check that they DO NOT lose money by taking too much of risk.

RISK : It is many IGNORED and many more novices could not even understand. With 90% of them losing money in markets, dont you think so something is VERY wrong here? Who will tell me that they are in markets to lose money? But they do lose money!! And they dont even know WHY??

AirAsia : I was sharing with my cohort-2 and cohort-3 about risk-reward ratio. I mean, it sounds LOGICAL but how many of those in KLSE understand such simplest concepts? AirAsia being used. It is ridiculous to buy AirAsia on Friday at 3.95 level!! Whoever done that DO NOT KNOW much about markets? WHy not buying at 2.95 level?? Can I ask?That is what I done in classes ... sharing with them SIMPLE and BASIC of concepts of Support-Resistance and how to use it to calculate our R-R ratio. If I missed AirAsia, what will be my next entry level ... if any? Will AirAsia break RM4.20 level? Hmmm ... stop guessing!! If u are going to read NEWS, AirAsia always in news, anyway. Arghh ... how did QPR fair? Hmm ...

Penang Talk : So far, only 3 of 8 of those initially shown interested e-mail me. Do e-mail me if you are interested. Fees will be RM75 each for 2.5 hours. It will be THIS coming SATURDAY. This will be the only Saturday I could be free ... till end of year? I hope to get at least 5 of them. Thanks

3.15 pm : KLCI almost flat now but HSI down 200+ points.

Tenaga : Haha ... losing money, went down this morning and now in green? Hmm ... who is buying?

4.45 pm : I am still at office to finish my paperworks!!

KLCI in green ... and I am wearing long sleeves green shirt today!!

MaxBiz : Haha ... I was laughing when I checked the top gainer of the day!! It is up 50% today!! Yeah ... in one day, for a stock to shoot ... 50% ... it must be a well-loved stock, ok? Let me recalled what I read about MaxBiz years ago ....? Hmm ... their equipments kena-curi? Hmm ... then, PN17 ... with some investigations on, right? Memory failing me ... as I was reading about MaxBiz to understand how these irresponsible CEOs and managements continue to CON the public and suck the retailers!! My policy ... do not buy PN17/GN3 counters.

11pm : DOW down by 100+ points, dragged by banks such as BAC, C, MS, GS and JPM. WFC is down 2% too.Yahoo dropping 5% now.

Brokerage MF Global bankrupt after euro debt losses


NEW YORK - Struggling US brokerage firm MF Global filed for bankruptcy Monday, after confidence in the firm was shattered by a string of losses from European public debt holdings.

Shares in the brokerage -- which at one time held approximately US$41 billion in assets -- were halted on the New York Stock Exchange early Monday in anticipation of the move.

While MF Global is well-known on Wall Street, it is not thought to be so interconnected that its collapse could trigger a crash like that seen in the wake of the Lehman Brothers bankruptcy in 2008.

But attention immediately turned to JPMorgan Chase and subsidiaries of Deutsche Bank, after MF's bankruptcy filing showed those firms to be the firm's two biggest creditors.

JPMorgan was said to have a claim of over US$1.2 billion with MF linked to bond holdings, while Deutche Bank had a claim of over US$1.0 billion.

Shares in JPMorgan fell 3.6 percent on the news while Deutche Bank's US-listed shares fell 8.1 percent.

Ahead of the bankruptcy filing, Chris Low of FTN Financial wrote that MF's downfall would be "the biggest US casualty so far in the European sovereign crisis."


"Hopefully, the firm's situation is unique. (Chief executive Jon) Corzine's bet on sovereign debt is what got the firm in trouble. According to regulators, other, bigger US entities are not exposed."

The Financial Times and The Wall Street Journal earlier reported MF was to issue the filing as part of a plan to sell off assets to Interactive Brokers Group, although it was still not certain that deal would go through.

Taken from : Channelnewsasia

Last week I shown the chart of this MF Global's global chart. It dived below USD1 and rebounded to USD2 the next day!! Talking about 100% profit in a day!! But, well .. at 1.20 now, filing for bankruptcy.

Another chart I shown(US) is NetFlix. It went to lowest at USD74, and at USD83 now. Still watching to see the development ... and want to watch if they ever recover from their bulnders.



TEH
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Discussions
Be the first to like this. Showing 1 of 1 comments

mavasuppiah

penang talk.....wat class r u talking about?

2011-10-31 17:20

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