connie - mo-mo sounds good. Rarely see you out this late. Thought you would be asleep by now.

Connie - no don't change to EMO. Can sound like ELMO, the muppet! Connie is just about nice.

connie/pathew - I am humbled by your comments. I am still learning just like everyone else. Actually, I honed my TA skills from reading Matrix postings. So, I would strongly recommend anyone wanting to improve their TA to follow his postings closely and do a parallel reading of the chart on your own. That way, you will make more profits than losses.

Matrix - I am now trading Sona Petroleum after clearing MPay entirely. It broke above its resistance price of 0.50 with volume on 11/2. The selling pressure from the harami formed on 12/2, potentially a bullish reversal trend, were well absorbed evidenced by the doji on 13/2 when it set a new high of 0.56 that was unsustainable and closed at 0.53. It has been bullish since and momentum has increased.

Its immediate support is 0.52 and if broken, further support can be found at 0.49. If 0.49 is breached, the price is expected to trend down to 0.45. So, my stop loss is at 0.48. On the Elliot, it is commencing on wave 3 (wave 2 by yr definition). My TP is 0.62. Catalyst: potential oil rig deal. CAUTION: this is an SPAC counter.

This year, I am adopting your trading strategy of strict discipline and like you said, locking in profits when the opportunity arises.

Matrix - I have locked in profits for Mpay after it hit a high of 0.24 today. Should be testing its previous high of 0.26 sometime in the future but currently, RSI indicates losing momentum with some bearish pressure today.

Connie - matrix is the expert with an eye for detailed critical analysis. Still long way off for me. But he is truly a genuine person.

Connie - jug not good enough. Take a barrel or barrels. All on me. Would like to see sephi's gigantic jug. By the way, warm stout from the tap is great.

Can see all you guys and gals are in the mood for a drinking session. Cheers!

connie - thanks for the kind words. Malu lah. Many experts here. Besides, you are picking up TA fast and becoming an expert. Really happy for you.

Hmmmm... playing shares like .... need passion and fast and furious ... interesting analogy. I like the analogy and everyone can relate to it! Have a beer on me.

Connie - thats a very good one about the consuming the mandarin oranges. Ha ha ha!

kelvinfixx - tp of 1.00 is a bit far fetched at the moment unless a mega contract is secured based on the company's current EPS of 0.04 sen and NAP of 0.12 sen. Yr projected estimate of 0.50 TP is a bit more reasonable.

Connie - thanks for the fabulous Warrant song. Really like it.

Christine - thank you for song. Happy Valentines day.

connie - I am great thank you. Tonight maybe take early dinner with wife then go throw mandarin oranges and see if can get hook onto some pretty gals. Ha ha ha! Sandwich is good. Send 'em over! Will listen to the song tonight. Thanks a thousand. Happy Valentine Day with yr hubby!

connie - whats for lunch?

kk123 - I agree with kelvinfixx and madiba. The company has got no debt, a positive cash and cash equivalent position and a healthy liquid ratio. Unless, you are referring to the company's free cash flow which is negative. Still, I would not conclude that the company has cash flow problems.

Firdaus - you are right in a way. Actually 0.185 is the immediate support but 0.20 seems to be forming a strong support level at the moment.

connie - can give me some of yr yum yum food?

Matrix - yr postings helps a lot.

Matrix - congrats on your profits. You had a good start to the western calendar year and now also a good start to the Chinese New Year. Very good sign.

Matrix - thanks for sharing your thoughts on Engtex. Am also eyeing the warrant.

Matrix, i am currently trading MPay with an entry price of 0.18. It gapped up on 7/2/2014 and is starting a bullish trend with increasing volume after a series of dojis from 29/1 to 4/2. Immediate support is 0.185 and if broken, it should find strong support at 0.16. My stop loss is 0.15. It is expected to test new highs with a strong possibility of breaking 0.30. RSI indicates strong bullish momentum. Catalyst: bid for the management of the govt's Tourist Refund Scheme (TRS)in conjunction with the GST implementation.

You may want to look out for this one.

Matrix, I am also monitoring Engtex closely. Immediate support seems to be at 1.65. Turned bearish today.

The other indicators be it lagging or leading indicators are signalling a bullish trend and the momentum is strong. The KD stochastic you are currently looking at is still based on an open candle, hence cannot be interpreted. If you are talking about a possible temporary pullback in price, then I don't dispute that. But an analysis of the charts and indicators does not suggest so. Unless there is an external factor affecting the market sentiment, I don't foresee a weakening.

Just looking at the KD stochastics alone does not tell the whole story and is inconclusive. A set of indicators need to be analysed to paint the whole picture.

Don't see any signs of weakening. Price should be trending new highs and in unchartered waters. New support level is around 0.20.

Momentum has picked up and daily and weekly chart is very bullish with increasing volume.

hepitrade - breaking 1.90 may be tough for today. But the upward momentum is still intact.

Shark or no shark, I think we should trade based on our own analysis and assessment.

inwest - thanks. Had a great CNY. i always look forward to CNY b'cos its that time of year that i get to take a very long break. Just started work today. Spent CNY in romantic Bali. Hope you had a great CNY too and I am sure you will collect lots of ang pow this year from the share market.

Chart is a useful tool but it must be read in combination with other indicators, even with sharks in the market. But of course, it is not the holy grail. That is why, we always trade with a plan.

I think the long term upward momentum of its price is intact with or without the potential Saudi project. The Saudi project has been factored into the price already. If they fail to win the project, there may be a temporary sell down on the price and of course if they win it, the uptrend will be expedited. Whichever scenario, the long term growth potential of the company is good.

Connie, for a moment, I thought I was still on a flight and still on holiday!

I would think that the potential Saudi project factor would have already been factored into the price to a large extent as it has been known for sometime.

Inwest, TM and the whole gang of 932,i.e. regulars, observers, part time visitors, I wish you Gong Xi Fa Cai, Good Health with lots of Wealth and a profitable 2014 in your stocks. Travel safe and happy holidays.

Matrix and all visitors to the "Matrix Thread" - I wish all of you Gong Xi Fa Cai, Good Health with Lots of Wealth and a Super Profitable 2014 in the stock market. To those travelling, travel safe and happy holidays!

Good morning everyone & Good morning Christine.

Connie - ha ha ha! never thought of it that way but well put. Yeah, its an awesome song, one of my favourite.

Connie - bonus from Queen

http://youtu.be/YoDh_gHDvkk

Hi Christine. Catching up with some mails. Also promised Connie a song. So, cannot disappoint her otherwise she will get mad at me.

Connie - as promised. Pink Floyd for your pleasure:

http://youtu.be/zvARL0Hzcoo

connie - you too have a good rest. Pink floyd - OK. When you wake up, pink floyd will be there!

MC - you know there is a saying once told to me by a friend about old fools and new fools but on second thought, I better not quote it here. If not, I will be offending a lot of people which I don't want to do. Sometimes I belong to the old fool category too.

MC - we feel the pain of those who bought at the peak and are caught with this downturn. Its a cruel market and there is nothing we can do about it. After having experienced the great bull run of the 80s and the great crash of KLSE in the 90s, it is discomforting to know that there will still be investors who will still be caught. Its a cruel world.

Connie - as MC said, patience is the key. Keep your eye on the ball, i.e. the technical charts, for entry now that you have a good grasp of technicals.

In the meantime, lets enjoy the pre-CNY festive mood although the mood this year is rather subdued.

connie - great stuff. Good to see the smile back on. And studying MRCB chart? Yes, thats the right attitude, my lady! Will try to get you pinky song tonight.

MC - you're right. A company don't change in a day. Unfortunately, investors' fear over rides all rationality and the herd mentality prevails.

mc - today is one of those all red days.

connie - relax. Part and parcel of investment. Everything will bounce back eventually.

Inwest - enjoy your dinner. Sounds yummy yummy.

Thank you Inwest. Silk has gone up too fast in a mere few days for any comfort. You read the market very well.

Matrix - have always admired your discipline in minimizing losses and maximizing profits. I think the market will be in a correction mode over the the next week at least. I manage to sell off most of my short term counters and only kept my medium and long term counters. Some I had to cut loss because there were some signs of an impending correction. A good opportunity to "re-load" my trading portfolio at a lower price now.

Pavilion is a nice place to shop and with good variety of brands. This year. Happy shopping.

Good morning everyone.

I think the overall selling pressure might not be over in a day and with the long CNY holidays, it is going to be a bearish and sideways market and in a correction mode. Patience and calm is essential now. Good opportunity to buy valued stocks but need to exercise patience. Do trade cautiously and be happy.

Stockwatch - thanks for the info.