Good Morning Everyone,
When the S&P rallied to close above 1230 on last Friday, many traders around me turned their books and started to go long in the market…
very interestingly, these were the same people who were calling for SELL when the market was trading at 1120…
I know, many people are waiting for me to call for LONG now… but sorry, I won’t be doing that …. I have just added another round of SHORTS into the market. (Now our short exposure is near to 60%).
3 weeks ago, when the market is calling for SELL…. I was sticking with my firm view and call for BUY…. we profited!
3 weeks later… now the market is calling for BUY… I am sticking with my firm view and calling for PROFIT Take…. will we profit??
I am still staying firm that Dow will challenge 13,500 by end of the year BUT I believe to buy NOW, is both ridiculous and high RISK.
When S&P was below 1180, I say S&P will hit 1230… people say I am overly positive to near MAD…
Now S&P is at 1230… people are saying it is time to buy??? NO… I think one should WAIT …. a PULL Back to 1180 FIRST will make more SENSE and then buy from the BOTTOM at a good price and let the market go pass 1230 again and even 1250 later…
Thats why I believe, the Gurus and Analysts are WRONG to buy NOW at 1230 but RIGHT that crossing 1230 is a good idea to buy BUT ONE should be buying at a LOWER Price FIRST!
Here is what I shared with my trading buddies this morning…. take a read and see if you agree…
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[7:52:12 AM | Edited 7:54:49 AM] 00 KH-Trend Master: Good Morning Everyone!!
Fantastic Games over the weekend…
Man U kena Thrashed 6-1 by Man City!!
New Zealand won France in World Rugby 8-7… tight match.
All Blacks Rules!!
[7:53:32 AM] 00 KH-Trend Master: S&P recovering from the Day Low..
[8:00:38 AM] 00 KH-Trend Master: NIKKEI staying near DH at 8770 after opening at 8740
[8:29:13 AM] ELZ: Good morning
[8:29:52 AM] ELZ: Is it a good time to go long now?
[8:31:12 AM] 00 KH-Trend Master: in which market?
[8:31:17 AM] 00 KH-Trend Master: to long = why?
[8:31:24 AM] 00 KH-Trend Master: because market have went up?
[8:31:35 AM] 00 KH-Trend Master: if thats your reason, i will not advice but i wont stop you
[8:31:59 AM] 00 KH-Trend Master: for me, i will never long something if i didnt long at the bottom
[8:32:31 AM] ELZ: that means friday was the bottom?
[8:32:35 AM] 00 KH-Trend Master: if i am chasing a rising market = still no problem but i wont do that because my risk have just increased
[8:33:23 AM] 00 KH-Trend Master: I wont know whether is the bottom but i know the market have risen for days and if I am to go in… people who bought earlier will probably to selling to me
[8:33:33 AM] 00 KH-Trend Master: thats why 90% of the people dun make from the market because
[8:33:43 AM] 00 KH-Trend Master: they always buy after a market have went up
[8:34:05 AM] 00 KH-Trend Master: but never question —- why a market went up while people didnt buy….??
[8:35:17 AM | Edited 8:35:30 AM] 00 KH-Trend Master: if i think the market have bottomed out and its a time to buy.
I will wait for a pullback and buy in later
[8:36:02 AM] 00 KH-Trend Master: SIMSCI hitting near 2(V) on opening…
[8:37:07 AM] 00 KH-Trend Master: so today…From the way NIKKEI and SIMSCI is moving…
a good chance if anyone is going to buy.. will likely to see profit on opening
if you want to buy, and know your risk, you can go ahead.. go for 1-2(V) profit…
but again. please know your risk first
[8:41:44 AM] 00 KH-Trend Master: so ELZ, if you want to buy, you can buy
[8:42:13 AM] ELZ: thanks kel
[8:42:47 AM] 00 KH-Trend Master: for me, i may consider a quick trade and get out fast
[8:44:12 AM] KEV: In other words, BB may sell on the finalization of the EU deal?
[8:46:58 AM] 00 KH-Trend Master: to me, BB buys alot when retails sells then they will use more $ to push up…
then Retail will say its time to buy the BBs will slowly sell while Retails turned their sentiment to buying mode…
and at the peak, when the BB sold enough… the Retail bought enough…
it will hit a peak…. then Retail will say its time to buy but see no buying…
as BB wont be doing that….
then you will see … the same thing happen again…
its Physics
From Potential Energy to Kenetic Energy back to Potential Energy at the height…
then …….
This pattern have NEVER changed…
the only changes is the height between the PE to KE
[8:50:58 AM | Edited 8:51:09 AM] 00 KH-Trend Master: Rem, there is no free lunch in the world
Just rem, like the Buffeut theory
Go when the restaurant just opened and exit when everyone is telling you the food is good… thats where people will be cramping the whole place and food will run out…
[8:51:36 AM] MAU: and the quality will drop hahaha (rofl)
[8:51:40 AM] 00 KH-Trend Master: YES!
[8:52:10 AM] KEV: Bradley turn date this Friday 28 Oct, what your view Kel?
[8:52:57 AM] 00 KH-Trend Master: honestly, i am sighting selling from today onwards
[8:53:11 AM] 00 KH-Trend Master: i will be monitoring the Crude and FOREX closely today
[8:53:26 AM] 00 KH-Trend Master: rem, if the market want to SELL…. it must always go UP first!!!
[8:53:38 AM] KEV: therefore, possibly Friday could be a bottom if selling comes in?
[8:53:54 AM] 00 KH-Trend Master: yes i agree
[8:57:44 AM] 00 KH-Trend Master: many analysts are calling for BUY after the S&P hits 1230 on friday.
if you recall what I wrote 2 weeks ago when the S&P was trading at 1135…
I mentioned that S&P will hit 1230 soon…back then
And back then- many people say I am MAD!
then now at 1230, people are calling for BUY!!>>??
For me, 1230 is the Technical BOX Theory therefore UNDENIABLE, breaking above IT will bring TA players to come into the market and this bouyancy will bring alot of traders into the markt and when DEMAND comes in strong, market will move
BUT based on the current sitiuation, i would RATHER WAIT… let the market hit 1230… let the retail jump in first….
then good chance the big boys will come in to profit take on the market
a pull back to 1180 will be a good level to buy and the next wave up to 1230 later WILL be a REAL Deal…
I am still looking at 1320~1350 by end of the year
[9:05:30 AM] 00 KH-Trend Master: Shorted Genting at 1.63
[9:11:41 AM] 00 KH-Trend Master: i have shorted DBS, UOB and OCBC
Disclaimer applied.
Kelvin Han
V3Go Chief Trainer