Good Morning,
After the morning posting yesterday, I was out busy as my terminally-ill granddad needs my presence, to assist him during his checkup, diagnostic, blood-test, x-rays etc at SGH. He fragile body moves with pain whenever he sit up and walk around. My heart really ached and occasional drops of tears will just pop out around the side of my eyes. He is the one granddad that really make me proud, a role model, as despite having so much worry for me (he worry for me most…) and my family and knowing that his time is limited in this world, he continued to display a strong front infront of me while only tearing whenever he is alone with my grandmother. (she told me on the side whenever we are alone).
He is so strong. He got this character and charisma in him that I can only say that I am only 10% of it. (I’m tearing as I writing this now… ;-( ) He is very close to me because I am the first grandson of his first son. He really treat me, like what the Chinese says, first grandson as the last son. I can still remember how he protected, love me when I was young…. He is so important to me… I talked to him more than my dad in the matter of fact… I really don’t want him to go on such a note….
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Yesterday, while attending to his needs, SMSs and calls kept flooding in as the market turned from positive to negative and obviously, my forum threads on CNA was ’ RISING’ with great numbers. Even a close friend of mine asked me to stop calling for long and maybe concentrate on the shorts instead. Another one say that my reputation is at stake now…
I shook my head and kept in silent. My granddad, who is ever so sharp, knew that something must have happened and asked me about it… Initially, I wanted to fake ignorance but knowing that, that will make him worry more… I shared with him ….
He said this, in HOKKIEN… ( I will always remember this… )
” Ah Yong, no matter who you do, as long as you know you are right then just follow with your heart. You cannot please everyone. Remember, you are not here to do that. Your students and audience will have good and the not so supportive type. This is life. Stay strong and fight, just like how I run the coffee shop in the 1960s when everyone was against it… Its never about failure but the failure to succeed in life… your own life…”
My heart just cracked when he finished his words and breathing heavily (he really cannot even talk much without feeling the pain… he is diagnosed with Lung Cancer, last stage).
I stood beside him and held his hand and said ‘ I know… thank you’ the 4 words that I will remember forever and promise to deliver without fail. I cannot fail. There are so many other people who are supporting me, like my V3Go Team, my graduates and even members of the public who wrote to me, to support me…. I really cannot fail them.
So thank you for the strong and avid support, thank you for making www.didyoutrade.com web hits to New Record! Thank you for everything. I will stand strong!
Your faithfully,
Kelvin Han
———————————————————————————————————————Market View for today…
This is what I posted yesterday:
For today, I am expecting to see STI being supported at 2732 for today. As long as the STI maintain above the Opening Price of today AND ABOVE 2741, the market should see some potential UPSIDE.
If the market fail to stay above 2732, then I advice traders to wait again… don’t jump into the long side. Short?? I am NOT LOOKING to short today… But if your own technique/system/indicators say yes… please kindly go ahead. I just prefer to sit back and relax and have a cup of coffee and wait for my levels to appear TODAY.
What happened?
STI perfectly opened at 2741 (Incredible forecast right?), and rallied to 2763, more than 20points at the start but after lunch, China and Hong Kong begin to sell and the Dollar also lost ground. The entire market reversed its direction and selling re-started.
Once the STI lost the 2732 support level, mentioned above, it was clear that no one should be bottom picking as it’s the seller market again. I am glad that most of the people got the idea and stand away from the market thus leading to the market free falling as not much buying queue were formed.
I only called for OCBC and Novo as I believe this 2 counters will stand against the selling wave but when OCBC lost 8.18 support level, after hitting a high of 8.28, I know I have to exercise caution and I’m glad that my grads know that based on V3Go TAOS, 8.17 and below must excercise cutloss strategy as the market/stock is just not ready yet. Well done for those who did that. *applauds*
NOVO hits a high of 26.5cents after opening at 25cents. It too, was not spared as it was sold down to 23.5cents at closing.
In theory, I was wrong in both account but I am glad that we exercised the cutloss discipline to reserve the ammo for today’s battle.
I can still vividly remember that when the STI was crashing down from 2417 on 8th of June 2009 to 2211 on the 23rd of June, down around 206points or -8.5%, many people got so worried and were speculating that this could be the end of the rally. But of course, the market recoverd and hit a high of 2359 by 30th of June. Regaining 6.6% from that day.
( I will explain why I chose this period for example later via a chart )
Since 20th of Jan 2010, the high was 2935. 6 days later, STI closed at 2706 yesterday, losing 229points, down -7.8% over this period.
For today, the STI must stay above 2733 for any chance of upside. If not, traders who wish to go long must continue to wait.
I am watching 2 things today,
(1) Dollaryen – the previous day, it created a BHP formation and yesterday it broke low and recovered. This is the signal that I am looking for.
(2) Crude Oil hit the V3Go TAOS support at US$72.71 and rebounded off. This is the signal that I am looking for.
I am looking at stock market to recover from today as long as STi maintain above 2733 today!
Disclaimer Apply:
But if the market does go below the support levels then I will suggest traders to exercise cutloss measurement to ensure capital protection.
Watch the CPO stocks today again, wait for entry… as crude oil already found support last night.
Have a great trading day ahead.
Disclaimer apply as usual.
Cheers!
Kelvin Han
aka Trend Master
Originator of V3Go Mentoring Program
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