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Picking oversold stocks in an uptrending mkt: 4-red 1-green

Mkt has consolidated over the past 2 weeks, used the opportunity to jump on board - week 11 of this rally. Aim is to find a good entry point for individual stocks - oversold, or at least not overbought, in case the trend turns and I have to cut loss.

Some examples below, four-red one green indicator. Lets see how they work out in future: SIA Eng: Looking at +ve MACD crossover: did not seem to work so well in a strong uptrending market as it gave signal only during/after large move. Interesting example from RMG below: Posted by Black Cat at 3:35 AM 1 comment: Labels: Cambridge REIT, Keppel Corp, Midas, RMG, SIA Eng, Technical Analysis, Yanlord



Yesterday (Tues 26th May):
- 4 lots Yanlord @ $1.98

Today (Wed 27th May):
- 1 lot SGX @ $7.20
- 13 lots Midas @ 66.5
- 3 lots SIA Eng @ $2.53
- 8 lots tat hong @ $1.15

Believe the brief consolidation period is over... Just ride the trend - hope the rally lasts a while longer...
Posted by Black Cat at 7:37 AM 1 comment: Labels: Midas, SGX, SIA Eng, Tat Hong, Trading Journal


Cut loss

Sold 25 lots Cambridge @ 33.5c.
Several days bought 13 lots midas @ 67.5c, cut loss today at 65.5c.

Two quick trades - did not work out. Loss is abt $800 (incl brokerage).

Look to enter more cheaply later.
Posted by Black Cat at 5:06 AM No comments: Labels: Cambridge REIT, Midas, Trading Journal


Bought cambridge

25 lots @ 35c.

Intended for quick trade on breakout, not a long term investment. Resistance at 40c, support at 31. Hopefully the market keeps going up. Posted by Black Cat at 11:46 PM 1 comment: Labels: Cambridge REIT, Technical Analysis, Trading Journal


Sold Midas. Market looking topish

Sold 18 lots Midas at 64c. 2.3K profit in 2 days. Got lucky, this was not planned. Wonder if it will keep going higher.

Market looking topish. 11 of the 20 stop volume stocks on the SGX today were at 20c or below. Only 1 was above $1: Will sell more if keeps going up. Mabye half my position at a time. Am expecting a consolidation soon (not necessarily an end to this rally) - wait to see how the US goes.

There was a picture of a bull on the back of Tuesday's (5th May 09) Today paper. Waiting for it to appear on the front...
Posted by Black Cat at 7:00 AM 1 comment: Labels: Market Timing, Midas, Trading Journal


Bought Midas

5th May 09, 18 lots @ 50.5c.

Bought then because the chart did not look overbrought. On advice of broker, waiting for pullback to buy blue chips.
Posted by Black Cat at 7:11 PM 1 comment: Labels: Trading Journal


US markets: April 09: No fear

Week 8 of the rally. It has flattened a bit, but the expected pullback never came: We see some distribution days in the past two weeks. However the market was not shaken by Swine Flu: The strength in face of the swine flu makes me want to add to my position. The market wants to go up. This would be a short term trade (weeks, months) just to try to ride the uptrend as long as possible - not a long term investment.

Coming up:

1) Indexes are approaching 200MA:

a) Nasdaq: b) Dow: c) S&P: 2) Banks 'stress test' results to be released Thurs (May 7th). Lets see the market's reaction.
Posted by Black Cat at 5:58 AM No comments: Fund Managers Amateurs & Hobbyists Various Industries