Posted by CityTrader > 2014-01-10 08:54 | Report Abuse

LIKE

Posted by choe > 2014-01-10 09:50 | Report Abuse

hi matrix, what do you think about willow?thanks in advance

Posted by matrixcool > 2014-01-10 10:04 | Report Abuse

Choe, WILLOW—Stage2 of the cycle, very Bullish. Breakout from $0.74 (Inverted hammer formed on 24/12 implies some consolidation, which it did) with volume yesterday signal BUY, now into uncharted territory. Estimated target are TP1=$0.83, TP2=$0.96/$1.00. Congratulation choe, you are on a winner. Do set a Trailing Stop to protect profits.

As suggested yesterday, bought in some GUNUNG this morning..Scale in more TAS at $1.25..PERDANA is hitting my TP1 of $1.70.

Happy Trading !!

Posted by sephiroth > 2014-01-10 10:05 | Report Abuse

matrix, can check on the chart of A&M, thanks

Posted by matrixcool > 2014-01-10 10:22 | Report Abuse

Sephiroth, A&M stage 2 of the cycle and very bullish.Today break out from Round Bottom at $1.07 signal BUY with TP of $1.26. Immediate Resistance is at $1.20 (inverted hammer (Spinning Top) formed on 19/06). Due to the heavy over hangs on a $1.20/$1.26 A&M needs some Big Volumes to breached through those resistances. A break above $1.26 it is entering into uncharted territory.
Good one sephiroth, too bad i am trading on my maximum stock if not will join you again.

I may clear PJD if $1.41 could not be taken out..

Happy Trading..

Posted by sephiroth > 2014-01-10 10:31 | Report Abuse

matrix, 1.41 will taken out by afternoon, thanks for yr speedy reply, by the way pohuat(7088) is trading at new 52 week high now

Posted by matrixcool > 2014-01-10 10:52 | Report Abuse

sephiroth, thanks for highlighting potential winners to me really appreciated it. At the moment I am locking in profits on those mid cap oil & gas sectors. Perdana looks good to break $1.70 soon.PERISAI and TAS has been good for me so far. GHLSYS just hit my TP1 of $0.79, if break will test $0.845 soon.

POHUAT is definitely doing very well, but I keep my Maximum stocks to 7 to avoid over trading . I may start to clear some un performance stocks like TDM, MUHIBAH (Still cant breakout from its Rectangle Trading)

I will scale in more PJD if $1.41 is taken out with volumes.

Happy Trading..

Posted by carson > 2014-01-10 10:58 | Report Abuse

hi matrixcool, i have bought in caely 7154, a few weeks ago and its moving upwards now, please provide some support and tp for this stock, i had the feeling it will appreciate , least 80cts, thank you in advance

Posted by i3raymond > 2014-01-10 11:01 | Report Abuse

Carson:
OTB had posted very detail report on caely. Check it out.

Posted by ProfitMan > 2014-01-10 11:52 | Report Abuse

Matrix, truly admire yr strict discipline. Have locked in all profits for Engtex-WA at 0.81 in view that the warrant is more volatile and the stochastics for the mother share showed a slight hint of a downtrend (may be a temporary sign as it is still an open candle). Still holding the mother share though as I believe the uptrend to my TP1 of 2.00 is still intact.

So far, it has been a good start to the year, following in yr footstep. Cheers!

Posted by matrixcool > 2014-01-10 11:56 | Report Abuse

Carson—CAELY—Continue stage 2 of the cycle, very Bullish. It broke out from Rectangle Trading of $0.415 to $0.475 yesterday with volume signal BUY. Immediate target is at $0.535 if break TP2=$0.60. Any weakness should find support at $0.49 and strong support at $0.475(Resistance turns support after the breakout).

profitMan,Congratulation !! As i always said Trade Well be disciplined the $$$ will come. Every stock when move up like Engtex will need to take a breather to charge again..

Happy Trading..

Posted by matrixcool > 2014-01-10 12:16 | Report Abuse

Very happy with the performance of GUNUNG after the Price and RSI have formed Bullish Divergence lately.If break above 0.93 (breakout from its Down trend line and also Symmetrical Triangle ) I will scale in more shares..

Happy trading..

Posted by carson > 2014-01-10 14:42 | Report Abuse

thanks matrixcool for the chart reading for caely, has downloaded

Posted by carson > 2014-01-10 14:43 | Report Abuse

thanks i3raymond for the info on caely

Posted by matrixcool > 2014-01-10 15:13 | Report Abuse

GHLSYS breached $0.79( I scale in another 25% of shares)and it is expected to move to $0.83/$0.845 (My TP2)in near term....

Happy Trading..

Posted by CityTrader > 2014-01-10 15:24 | Report Abuse

Matrix! Good choice, let us sail together to retest recent high 0.91.

Posted by matrixcool > 2014-01-10 15:50 | Report Abuse

City trader, you are in GHYSYS as well? Good..To reach the previous high of $0.91 it needs much bigger volume than now to clear those overhang. Hopefully the present momentum can push it to my next TP of $0.845.

PERDANA just breached $1.70, if crossed $1.76 should reach my next TP of $1.83 soon.

Happy Trading..

Posted by sephiroth > 2014-01-10 15:53 | Report Abuse

matrix, connie and gang in 932kaki also goreng-ing ghlsys(they refer this counter as beans)

Posted by matrixcool > 2014-01-10 15:56 | Report Abuse

sephiroth, you also in GHYSYS kah? Why it is call beans?
Are you in PERDANA as well?

Happy trading..

Posted by sephiroth > 2014-01-10 15:59 | Report Abuse

matrix, i'm not in ghlsys or perisai, they have diff name for diff counter

i bought pjd-wc at 0.30/0.31/0.32 now paper gain above 50% and went in umwog-ca 5 rounds, all in at 28-29 out at 31-32

Posted by CityTrader > 2014-01-10 16:09 | Report Abuse

Matrixcool! I m not a positioned trader n i may hold it to hit my final upleg. I bot destini n look forward it to break recent high 0.545. Cheerd,

Posted by matrixcool > 2014-01-10 16:12 | Report Abuse

sephiroth, OIC..you are right PJD-WC perform better than mother share.I see you are doing really well in 2014, my congratulation to you. I may clear PJD as it tested $1.41 twice, but failed to clear it.Also it shows some price/RSI bearish divergence maybe some consolidation is on the way.

I sold all my Perisai earlier at $1.64 and very happy with the returns.I also sold 80% of my TAS, now waiting to lock in profits for my PERDANA. Just broke my first TP of $1.70.

I collected GUNUNG today at an average cost of $0.88.

Happy Trading..

Posted by ulutrader > 2014-01-10 22:25 | Report Abuse

Matrix..I'm happy you're locking in your profitable counters..Cheers!and I admire your discipline in keeping to 7 counters no matter what!

Before I sign off,Hevea has been stock pick for 2014 by quite a number.Does the chart tell me to go in now ? Monday since it had rebounded from its low already?

Posted by matrixcool > 2014-01-12 16:56 | Report Abuse

Ulutrader, Thanks and hopefully January is as good to you too.

HEVEA—After hitting high of $1.45 it consolidated to the low of $1.08 on 06/01. Due to that big pullback (Lots of traders must have been shaken out) the stock has turned bearish in the near term. It is expected to trade between $1.08 to $1.20.The downward momentum has reduced,it formed a Doji Star on 09/01( at the bottom) imply maybe some rebound is near if it can break above $1.16.Strong resistance is at $1.25/$1.30. Unless previous high of $1.45 is taken out Hevea could be in stage 3 of the cycle and price can be volatile. EXIT if $1.08 is violated that mean it is starting stage 4 of the cycle.

Happy Trading…

Posted by ulutrader > 2014-01-12 17:03 | Report Abuse

Thanks matrix.... hope for rebound next week.If nothing happens,I'll exit this stock and go to others (after 1-3 days)

Posted by matrixcool > 2014-01-12 20:59 | Report Abuse

13th JAN-Weekly Summary
1)GHLYSYS-- Av Price=$0.73 after scale In( Closing=$0.825, P&L=+9.5%), Trailing Stop=$0.74. Risk= 0%. Tp1=$0.79, TP 2=0.845/$0.855, TP3=$0.91 & beyond. (Exp Trading Range $0.785--$0.845).
Note :GHLSYS hit my first target and now moving towards TP2 of $0.845/$0.855, a break above with volume may take it back to its previous high of $0.91 & beyond.I will be starting to lock in profits around TP 2. Any consolidation offer opportunity to collect for future play.

2)GUH-- Av Price=$1.07( Closing=$1.06, P&L=-0.93%), Trailing Stop=$0.975. Risk= -8.8%. Tp1=$1.20/$1.25, TP 2=$1.32. (Exp Trading Range $1.03 to $1.14).
Note : GUH looks good to start stage 2 of the cycle if it could close above $1.10. Any weakness is a good opportunity to collect for future play. It is under consolidation with reduce volume, which is healthy.

3)GUNUNG-- Av Price=$0.88( Closing=$0.905, P&L=+2.85 %), Trailing Stop=$0.82. Risk= -6.8%. Tp1=$0.93, TP 2=$0.995. (Exp Trading Range $0.855 to $0.93).
Note :Symmetrical Triangle with a high percentage of breaking out from the Triangle. A break above $0.93 with volume confirmed breakout which I may scale in more shares.Any weakness offer opportunity to collect for future play.

4)MUHIBAH-- Av Price=$2.35( Closing=$2.44, P&L=+3.82%), Trailing Stop=$2.28. Risk= -3%. Tp1=$2.48, TP 2=2.57. (Exp. Trading Range $2.37 to $2.48).
Note : Rectangle trading range of $2.26 to $2.48. Upward momentum has increased, 3 White candles for the past 3 days imply the steady upward movement is Bullish. The BIG question is can it break $2.48 this time? If break $2.48 I will definitely scale in more shares since the upward momentum has increased. I have raised my Stop Loss to $2.28 and reduce my Risk to 3%.

5)PERDANA-- Av Price=$1.59( Closing=$1.71, P&L= +7.5%), Trailing Stop=$1.61. Risk= 0%. Tp1=$1.70. TP 2=1.83. (Exp. Trading Range $1.52 to $1.61).
Note: As suggested, hit my TP1 of $1.70,separating Line occurred imply more upward movement , it is expected to move higher to my TP2 of $1.83. Immediate resistance is at $1.76. Any weakness is an opportunity to collect for future play. I have raised my Trailing Stop to $1.61 to protect my capitals.

6)TDM-- Av Price=$0.96 ( Closing=$0.955, P&L= -0.5%), Trailing Stop=$0.935. Risk= 2.6%. Tp1=$1.03/$1.05. TP 2=?. (Exp. Trading Range $0.935 to $0.97).
Note :It has formed a Descending Triangle pattern( which has a bearish implication) with neckline at $0.94.Unless it can break above $0.98 with volume a break below $0.935 spells trouble.I have raised my Trailing Stop to $0.935 to reduce my risk.

Sold my :
1) TAS at an average cost of $1.28 (Bought at av of $1.12) given me 14% profits.
2)PJD at an average cost of $1.395(Bought at av of $1.34)given me 4% profits( many thanks to sephiroth who highlight this stock to me).

I am monitoring :

1)FRB—Breakout from the downtrend line with rising window and increase volume. Bullish uptrend is expected to continue.
2)TAS—may re enter if support of $1.20 holds.

Happy Trading…

Posted by yoda88 > 2014-01-12 21:48 | Report Abuse

GUNUNG is nicely trending as it broken the physcological level of 0.90, will be averaging up once 0.93 is broken. Expecting above 1.00 level. Good call.

Posted by matrixcool > 2014-01-13 14:59 | Report Abuse

Thanks Yoda88, still GUNUNG need to break $0.93 with volume to be out of the Triangle...

Muhibah hit top of Rectangle $2.48 but still cant breakout..

Happy Trading..

Posted by sephiroth > 2014-01-13 16:34 | Report Abuse

matrix, to monitor l&g new high 49

Posted by sephiroth > 2014-01-13 16:38 | Report Abuse

matrix another hotstock mkland

Posted by matrixcool > 2014-01-13 16:38 | Report Abuse

Thanks sephiroth...wow..L&G just broke out from $0.48 with volume..
Very Bullish..

I am kind of frustrated with MUHIBAH breakout from the Rectangle but lack of volume..

Have a nice holiday..

Posted by CityTrader > 2014-01-13 23:08 | Report Abuse

Hi sephiroth. After your highlighting on LnG, i briefly checked the record, found it to b worth for trading n my timing was perfectly correct n jumped in at last min to fetch 0.48 after selling destini that gave me a good ang poa

Your A&M has not ended its upleg yet. Tqvm. Happy holiday to u n matrix n the gang.

Posted by sephiroth > 2014-01-13 23:14 | Report Abuse

ct, matrix, on fa side l&g have lock in profit of RM200m to be recognised in 3 yrs and cash of 42 sen per share, no worries definitely will shoot pass 50

and 1 more furniture stock to watch eurosp(7094) cash rich, very low share base of only 44.42m shares, 2 qtrs eps of 7 sen per share, wednesday will definitely fly, just to take note, i will post the details in 932kaki and kaki flag thread 2molo

Posted by CityTrader > 2014-01-13 23:20 | Report Abuse

Ok tq bro sephiroth! I will check the chart tmr n post at kaki flag. Matrix analysis write up is much detail that i like to read n mine is very brief as i duno what to write :-)

Posted by matrixcool > 2014-01-14 10:09 | Report Abuse

Sephiroth, thanks for informing me those stocks, I really appreciate it. I admire your hard works on your FA analysis of those counters and happy you are making $$$ in picking many winners..I sold my PJD at $1.40 and lock in some small profits thanks to you, but will look at it when it retraces further or breakout from $1.41. Will keep an eye on Eurosp and L&G as well.

City Trader, appreciate your chart reading for those counters too. Just post your reading for me to study too.Look like 2014 January is good to you too.

Tonylim, I have started 2014 with this new thread, anything please post it here.

Happy Holiday !!

Posted by matrixcool > 2014-01-14 13:56 | Report Abuse

sephiroth or anyone that understand warrant, can you explain to me whether this is going to affect the price of MPHBCAP? thanks

MPHBCAP

Offering of up to 50,000,000 European style non-collateralised cash-settled call warrants
over ordinary shares of MPHB Capital Ber
had(“MPHBCAP”) (“MPHBCAPShares”) with
an exercise ratio of 1.5 call warrants : 1 MPHBCAP Share (“Call Warrants”) at an issue
price of RM0.150 per Call Warrant
Issuer and M

INDICATIVE TIMETABLE
Company No. 13491-P
The indicative timing of events leading up to the
listing of and quotation for the Call Warrants on the
Structured Warrants Board of Bursa Securities are as follows:
Tentative dates
Launch of the Call Warrants 13 January 2014
Allotment of the Call Warrants 13 January 2014
Listing of the Call Warrants on the Structured Warrants Board of Bursa Securities 15 January 2014
This timetable is tentative
and is subject to changes.
Note:
The Price Fixing Date for the Call Warrants is 30 December 201

Posted by sephiroth > 2014-01-14 14:34 | Report Abuse

matrix, exercise rato 1.5:1, exercise price 1.70 expiry date 30/1/15

exercise ratio is very important, the lesser the better
HAVE to sell the warrant around 2 months 2 expiry UNLESS the warrant is in the money

current mother share price RM1.70
assuming mphb-ca starts trading at 0.15
Premium (the lower the better)
= [(Exercise ratio X warrant price) + exercise price] LESS mother share price/mother share price
= [(1.5 X 0.15) + RM1.70] LESS RM1.70/mother share price
= 1.925 LESS RM1.70/1.70
=13.235% premium not too high for a 1 yr warrant
IF within a year, mother share price reach RM1.925, the warrant is IN the money

i'm not too sure about the gearing about the warrant. i will post kcchongnz detailed explanation below

MPHBCAP-CA: CW MPHB CAPITAL BERHAD (CIMB)

Instrument Type Structured Warrants
Type of Structure Warrants Call Warrants
Description European Style Non-Collateralised Cash-Settled
Underlying Stock MPHB Capital Berhad
Issuer CIMB Bank Berhad
Stock Code 5237CA
Stock Short Name MPHBCAP-CA
ISIN Code MYL5237CAP16
Board Structured Warrants
Sector FINANCE
Initial Listing Information

Listing Date 15/01/2014
Term Sheet Date 13/01/2014
Issue Date 13/01/2014
Issue/ Ask Price MYR 0.1500
Issue Size Indicator Unit
Issue Size in Unit 50,000,000
Maturity Date 30/01/2015
Exercise/Strike/Conversion Price MYR 1.7000
Revised Exercise/Strike/Conversion Price
Exercise/ Conversion Ratio 1.5 : 1
Revised Exercise/ Conversion Ratio
Settlement Type/ Convertible into Cash
Name and contact details of market maker
(if applicable) CIMB Bank Berhad
c/o Equity Derivatives Group
11th Floor Commerce Square
Jalan Semantan
Damansara Heights
50490 Kuala Lumpur

Tel: 03-2084 9942
Fax: 03-2093 6098
Circumstances under which the market maker may not be able to provide quotes
(if applicable) Please refer to Section 5.2 of the Base Prospectus dated 6 May 2013

Posted by sephiroth > 2014-01-14 14:34 | Report Abuse

The power of leverage in investing: Warrants - kcchongnz
Author: Tan KW | Publish date: Sun, 24 Nov 10:28

Posted by kcchongnz > Nov 24, 2013 06:04 AM

Although many people like to use leverage to amplify return from the stock market, there are equal or may be even more of them scorn it. Yes, investing with leverage cuts both ends. So as a self proclaimed prudent investor, why do I advocate the use of leverage in investing in warrants?

The theoretical value of warrant depends on the price of the underlying share, the exercise price, time to expiry, its volatility, dividend payment of the underlying and the risk-free rate.
Let us take a warrant PJ Development Warrant C (WC) as an example how a leveraged instrument can be used as a financial risk management in investing rather than punting.

Wc has an exercise price of 1.00 and expire in 7 years time on 4th December 2020. At the latest closing price of PJD and Wc at 1.28 and 35.5 sen respectively, the leverage or gearing is 3.6 times. Wc is in-the-money now but it is trading at a premium of 6%. This means that if you buy Wc at 35.5 sen and pay RM1.00 to send it to convert to PJD share, you are overpaying to own PJD shares by 6%. But who would be so stupid to do that ? There is precious time value in Wc which you won’t want to lose it by converting Wc to PJD share now.

Let say I am bullish about PJD that the company will do well in the next 7 years and I believe that its share price will go up to RM2.00 within this 7 years before the expiry of Wc. Let say I first intend to invest in 10,000 shares of PJD for RM12800. If PJD share price goes up to RM2, I will sell it for a profit of RM7200, or 56%. Now instead of placing RM12800 at risk, what if I spend just RM4000 to purchase 11200 shares of Wc, or just a third of capital layout?

I would achieve my goals if PJD really goes up to RM 2.00 within this 7 years as I would convert Wc and then sell in the market of the converted share of PJD for RM2.00. I would make the same amount of money, i.e. RM7200, with much lower capital layout and my return is now 182%.

Of course the reverse is also true. If PJD share price goes down by 6% to RM1.20 and as the warrant is still in-the-money, I have to convert Wc as it is expiring, I would lose 44%. What if there is a major economic disaster and PJD goes bankrupt? One will lose all his money whether you are in PJD or Wc. But PJD shareholders lose RM12800, whereas Wc investors lose only RM4000.

Yes, the beauty about warrant investors is warrant holders has the right but not the obligation to convert to the underlying share when it is out-of-the-money, i.e. when PJD share price is below RM1.00, the conversion price. Hence the downside risk of warrant is lower and limited to the lower cost of you investment in warrants.

The table below shows the payoff of Wc with various prices of the underlying share price.

PJD 1.00 1.20 1.40 1.60 1.80 2.00
Wc 0.00 0.20 0.40 0.60 0.80 1.00
Gain PJD -22% -6% 9% 25% 41% 56%
Gain Wc -100% -44% 13% 69% 125% 182%

KC Chong (Auckland 24 November 2013)

Posted by matrixcool > 2014-01-14 15:06 | Report Abuse

Thanks sephiroth, i never understand how warrant works that is why i never buy warrants.That day you mentioned to me PJD and its warrant i did not buy the warrant because not sure how it works.
So the listing of this warrants is not affecting the mother share right? Also the existing mother share holder like everyone purchase it in the market right?
Thanks again..

Happy Holiday..

Posted by sephiroth > 2014-01-14 15:16 | Report Abuse

yes matrix, listing of call warrants have nothing to do mphbcap. i have done my my homework on pjd-wc and found it to be very undervalue, premium less than 7% all the time, that's why my 2 months return on pjd-wc more than 50%

Posted by matrixcool > 2014-01-14 15:29 | Report Abuse

Bravo sephiroth, Your FA analysis is very good and I am glad to hear you made such a Big returns on PJD warrants. Last week i was asked to buy Genting WA at about $2.80++, i dint buy because i cannot understand how it works. Few of them made some money selling above $3.00.
I asked about MPHBCAP because I think it may issue a BUY signal very soon if support of $1.68 holds.

Happy Trading..

Posted by tonylim > 2014-01-14 16:25 | Report Abuse

Matrix..

Make sure you understand the difference between company warrants denote by wa b c ... and call warrants denote by cw1 2 3 etc

Posted by tonylim > 2014-01-14 16:26 | Report Abuse

Those folks in 932 are the smiling lot in genting wa.
Their code is known as ting2. Lol

Posted by matrixcool > 2014-01-14 16:48 | Report Abuse

tonylim, thanks for the information on warrants. I think I better stay clear of warrants as chart reading already took out a lot of my time to find winners. January 2014 seems to be kind to many traders including myself. I am very happy with winning on PERISAI and TAS.. Also, my PERDANA,GHLSYS are doing well, if MUHIBAH is not a false breakout then I may be able to lock in more profits this month.

Happy Trading and hope you have a good January as well.

Posted by ProfitMan > 2014-01-14 18:23 | Report Abuse

Matrix, just to share with you my trading strategy for warrants (may or may not be the right way but it works for me).

My 3 criteria for trading warrants are:
1) when I am also trading its mother share or when there is a trend reversal on its mother share.

2) expiry date of the warrant is long.

3) there is sustainable volume on the particular warrant

I trade warrants on a short term basis because it is can be quite volatile and I usually clear my positions with 5 to 10sen gain, sometimes more than that, depending on the market conditions and momentum of its mother share. So, I don't bother with the conversion/exercise price. The reality is that a lot of people trade warrants because its a cheaper entry into its mother share and they are probably not wrong. And as you know, there are warrants trading at a premium to its mother share.

Many times, I would have cleared my warrants long before I clear the mother share. With short term trades, I do not need to be immersed in the intricacies of the exercise price and what have you. Its simpler that way. So, I analyse the chart of its mother share for guidance.

Staying away from warrants is also a good call. Anyway, others may view and trade warrants differently but I am comfortable with this strategy and it works for me.

Posted by matrixcool > 2014-01-14 19:46 | Report Abuse

profitMan, that is what i thought too. As a TA we are not suppose to worry all those conversion etc. But your suggestions to look at TA of mother shares is a very good suggestion. I am very thankful to you, sephiroth and tonylim to offer all those valuable points about warrant to me.
I am indebted to you all.
Thanks and hope you have an wonderful and profitable 2014..

Happy trading !!

Posted by matrixcool > 2014-01-14 21:51 | Report Abuse

15th January
# Pyramid: When I mentioned “Scale In” I mean building a risk control pyramid. More shares are added on if a share moved in an expected direction. But the new amount MUST always be smaller than actual initial position.
For Example :GHLSYS, first position in at $0.71 say 40,000 shares. The next position when it break my first TP of $0.79, I added about 20,000 which is about 50% of the initial shares and my cost increased to $0.73. During this time I also increase my trailing stop to protect my capitals or any profits. The next round if I add, it will be 10,000 share the most to build the pyramid. But my trading pattern is starting to lock in profits at around TP2 and may buy back during the pull back like TAS now.
Avoid building ‘Inverted Pyramid’ ( during the Huh Hah time when you are so proud(EGO) that you are right on a particular stock that you bought it went the way you expected and feel at the top of the world, control your (GREED) when your TP is much higher) if not you will end up investing more money on the top than the base of the pyramid. A small decliner near the top will wipe out all your profits. For those naïve traders thinking and praying it will go up again(HOPE) it may end up losing more originated from a winning position , when it realized it is not going up again any rebound they just sell to limit their losses(FEAR) #

MUHIBAH-- Av Price=$2.35( Closing=$2.48, P&L=+5.5%), Trailing Stop=$2.44. Risk= 0%. Tp1=$2.48, TP 2=2.57, Tp3=$2.72. (Exp. Trading Range $2.37 to $2.48).
Note :Breakout from the Rectangle Trading but lack volumes, hence lack convincing. I did not “scale in” because I am worried it could be a false breakout or a bull trap to catch traders like me. The upward momentum has increased with a rising window ($2.45/$2.44 now act as Gap Support) today and 4 white candles past 4 days imply the Bullish trend should continue.It needs more volume to move to TP2 of $2.57 and I have raised my Trailing Stop to $2.44 to protect my profits and capital.

I am monitoring FRB, ENGTEX,TAS may re enter if $1.20 holds and EUROSP( as suggested by sephiroth but very low volume counter).

Happy Trading.

Posted by jacky187 > 2014-01-14 23:56 | Report Abuse

Hey guys what do you think of SbcCorp?

Posted by matrixcool > 2014-01-15 10:16 | Report Abuse

jacky187,
SBCorp—It is starting stage 2 of the cycle, very Bullish. Broke out from the round bottom on 10/01 with volume given its immediate Tp of $1.50. It Gap Up yesterday and the possibility of forming a Breakaway gap indicating more Bullish uptrend movement in the future. Due to recent sharp rise some consolidation is expected and any pull back should find immediate support at the Gap Support of of $1.39/$1.38,strong support is at $1.33(Resistance turns support). Any weakness offer opportunity to collect for future play.

Happy trading..

Posted by matrixcool > 2014-01-15 11:42 | Report Abuse

re enter TAS at $1.23...Look like support of $1.20 holding well..Will cut losses below $1.20.

Happy trading..