Roy i remember you said you will wait until RM2.5 like 2 hours ago. 1 cents drop and you lose your mind. LOL

A Crucial Conversation – “It’s a Bull Market”

Listening to the (repeated daily) advice of an old stager in the offices of Fullerton, it suddenly dawned on him why he was making less profit than he should. Whatever question the old fellow – known to everyone as Turkey although his real name was Partridge – was asked about the market, he would reply, “well, it’s a bull market.”

At first Livermore thought this was a mere platitude. Hearing “It’s a Bull Market” daily, he began thinking about it more. Then, listening to a conversation between Turkey and Elmer Harwood – a young trader – he realized that it was more than a platitude – it was the missing piece in his own education.

Elmer: “Mr. Partridge, I have just sold my Climax Motors. My people say the market is entitled to a reaction and that I’ll be able to buy it back cheaper. So you’d better do likewise. That is, if you’ve still got yours.”

Turkey: “Yes, Mr. Harwood, I still have it. Of course!”

Elmer: “Well, now is the time to take your profit and get in again on the next dip,” said Elmer, “I have just sold every share I owned!”

Turkey: “No! No! I can’t do that!”

Elmer: “Didn’t I give you the tip to buy it?”

Turkey: “You did, Mr. Harwood, and I am very grateful to you.

Elmer: And didn’t that stock go up seven points in ten days? Didn’t it?”

Turkey: “It did, and I am much obliged to you, my dear boy. But I couldn’t think of selling that stock.”

Elmer: “Why not?”

Turkey: “Why, this is a bull market!” (The old fellow said it as though he had given a detailed explanation.)

Elmer: “I know this is a bull market as well as you do. But you’d better slip them that stock of yours and buy it back on the reaction. You might as well reduce the cost to yourself.”

Turkey: “My dear boy, if I sold that stock now I’d lose my position; and then where would I be? And when you are as old as I am and you’ve been through as many booms and panics as I have, you’ll know that to lose your position is something nobody can afford; not even John D. Rockefeller. I hope the stock reacts and that you will be able to repurchase your line at a substantial concession, sir. But I myself can only trade in accordance with the experience of many years. I paid a high price for it and I don’t feel like throwing away a second tuition fee. But I am as much obliged to you as if I had the money in the bank. It’s a bull market, you know.”

Jesse Livermore realized that Turkey’s consistent message was that the big money was to be made not in trying to trade small moves on the tape but to catch the major trend.

“Nobody can catch all the fluctuations. In a bull market your game is to buy and hold until you believe that the bull market is near its end. To do this you must study general conditions and not tips or special factors affecting individual stocks. Then get out of all your stocks; get out for keeps! You have to use your brains and your vision to do this; otherwise my advice would be as idiotic as to tell you to buy cheap and sell dear. One of the most helpful things that anybody can learn is to give up trying to catch the last eighth-or the first. These two are the most expensive eighths in the world.”

With this step in place, Jesse Livermore’s trading philosophy was complete.

^ nice chart Tecguan has

ICON & ALAM are showing some strengths also

btw i have to declare that I have been holding half a mil shares at average cost rm0.305 - i will continue to hold as long as oil&gas stocks are showing some strength

52 weeks high , monstrous volume , break multiple resistances , way above 200 days SMA - only crazy fellows will call for reversal of trend.

when a stock is trending up/down theres always some geniuses try to be hero and call for reversal - in the end they get buried. i have seen too many of them.

KC is a value investor while KYY is more like a momentum investor. of coz both using different method la !

move you worry. no move you also worry. knn.

50% of my fund is in hibiscus.. the remaining 50% i will be looking for other OG stocks..

its a bull market, you know!

^ u two have been appearing together all the time LOL

^ no i dont. just the chart is saying something bullish. place some small bets and see how.

bought another 10,000 shares

still sleeping

bought 6200 shares.

bought 20,000 shares. Chart is showing the change in trend.

sold everything at 1.93 with 27% gain - the reversal is out of my (most of the bulls') expectation - but oh well , such is life.

even funnier if you scroll back to his previous comments kikikik


Jun 9, 2016 01:22 PM | Report Abuse

Institution is selling.....run run run


Jun 9, 2016 01:19 PM | Report Abuse

Price has up abt 15% from lowest of 1.32. Fast fast run.... before too late....


Jun 9, 2016 01:14 PM | Report Abuse

Price has up abt 15% from lowest of 1.32. Fast fast run.... before too late....


Jun 9, 2016 01:08 PM | Report Abuse

Price has up abt 15% from lowest of 1.32. Fast fast run.... before too late....


May 31, 2016 06:12 PM | Report Abuse

Better sell now, new low is coming soon

May 31, 2016 06:10 PM | Report Abuse

Sell sell sell


May 11, 2016 10:24 AM | Report Abuse

Just sold my fgv

meanwhile i accumulate all my shares at 1.40-1.50++ and average price is RM1.51.

the only way to make money in the market is to get in early and hold all the way up until the trend ends.

dont be like this si watami trying to be hero sell all the way up kikikik

kikikik si watami trying to be a hero and been calling for top all the way up kikikikik

kikik si watami lets refer back to your comments and see who is the genius here :-

Jul 20, 2016 10:46 AM | Report Abuse

Strong resistance at 1.70. Decided to throw my remaining 20% this morning. Run run run......

Aug 9, 2016 11:31 AM | Report Abuse

Buy on rumor, sell on news. FGV CEO have come on newspaper. Time to sell & run.......

Aug 10, 2016 02:54 PM | Report Abuse

Big boy selling down today. run run run !!!

Aug 24, 2016 10:48 AM | Report Abuse

Big player starting selling down now, better stay at sideline. The QR may not look so good. Sell sell sell.........

Aug 24, 2016 04:14 PM | Report Abuse

Like it or not, the big player starting selling down now. It is good time to dump all their share to those have high hope on this coming QR. Buy on rumor, sell on news

Aug 25, 2016 04:01 PM | Report Abuse

Last chance to escape the boat. Now is 2.15. Run run run.

mana si watami? still looking for RM1.8 ?? kikikikikik

lai liao lai liao

still holding since RM0.825

^ kikikiki you have been calling for sell si watami and now you have changed it to stay at the sideline.

watami has been a very good trading indicator , when he screams for sell , the price will go even higher. kikikikikikik

downward trendline since 9/29 has broken

@confuse this watami has been calling to sell since RM1.50 la... kikiki. up 20-30 cents you will not see him one la... down 5 cents - 10 cents he will come around and call for selling. kikiki. when watami says sell , typically fgv will move further up in the next few trading days and he will disappear again. biasa la...

watami is here again LOL

2.5% morning gap

waiting the price to retrace before going all in

cup & handle pattern is forming and strong resistance level at .96. Still holding 430 lots since .83