Did You Trade

Good Morning,

I believe this title will make some of the people in the stock forums very happy as they have a field day when they ‘bombarded’ on my blog posting yesterday.

Yes, no denying, I was bullish and my indicators are warning me about the market being oversold for some stocks and I was tracking them vigilently. My Volatiltiy Indicator is saying that the selling pressence is still there thus that’s why I gave specific support levels to exercise caution and specific resistance levels to exercise buying entries but of course, people chose to read what they like to read… just like the Class 90.5FM Gold Advertisement.

Well… in this financial industry for more than 10years now, I have seen such incidents enough to handle it, psychologically and emotional. I even continued with my Preview last night and continued to share information with the people who took the effort to attend.

Please kindly read the blog posting (yesterday) again….
http://www.didyoutrade.com/posts/sti-will-go-up-to-2850-within-this-2-3-days-look-at-the-cpo-stocks-and-banks-today/

I mentioned:

(1) DBS must cross S$14.80 for any chance of upside. The highest level it went was S$14.70 – How to buy?

(2) UOB must cross S$18.66 for any chance of upside. The highest level it went was S$18.60 – How to buy?

(3) OCBC must cross S$8.40 for any chance of upside. The highest level it went was exactly S$8.40 – Didn’t cross, how to buy? Isn’t it precise enough???

(4) I mentioned that HK must stay above its Opening Price and goes above 20714 then one can buy… but this market highest level yesterday was only 20543!! – How to execute buy??

(5) I mentioned that Shanghai must stay above 3114 for more upside but this index highest point was only 3098 – How to execute the buy order???

(6) Jakarta Index was the only one that I got it wrong in  way. I say that I think there is a support at 2586 but I didn’t give entry level to go long. - But still I got this one wrong, so no doubt.

Overall, with 6 calls given and 5 didn’t get to execute, may I ask, how “haywired” can I get with my forecast? Honestly, the only WRONG that I made was that I didn’t call for SHORT and the market tanked 2.7%. So too bad, I missed the fun and money making opportunity from shorting but if anyone can recall since 7th-8th of Jan when everyone is buying the STI at above 2900… I was already giving warnings about the market being toppish for this cycle and of course, I was also “bombarded” by people in other forums… but again, the selling from 11th of Jan proved it nicely…

Honestly, many of my close friends and grads who tracks my micro reading of the market knows one thing… most of the time I can be deadly spot on for that day but incredibly, at big volatile occassion like yesterday, I am always 1-2days early because market yet not react to the prediction yet.

But nonetheless, I won’t debate further.. I believe those who really read the blog posting, are wise and mature enough to have avoided the bloodbath since the levels mentioned were not executed.  

 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.

Last of all, thanks to the cyber, behind the nick forumers, as because of their ‘bombardment’, my blog attracted more than 6000 views, 20% more than usual. It is a great advertisement for me. Thank you. *smile*

Everyone, have a great day ahead!!

Disclaimer Apply:
Overall, as long as the market that I mentioned above doesn’t break and go below the support levels that I mentioned above, I am going to see some reversal of the trend and will look forward to buy shares than selling.

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 seem to looking at some support around the US$74-75 /barrel level.

Have a great trading day ahead.

Disclaimer apply as usual.

Cheers!

Kelvin Han
aka Trend Master
Originator of V3Go Mentoring Program

This entry was posted on Wednesday, January 27th, 2010 at 7:39 AM and is filed under Comments and Feedback, Commodities, Events and Advertisements, Market Analysis, Stock Pick, Trivial of Life. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.