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| Thursday, October 25, 2007 |
| Technical updates on holdings |
I'm still not good at fundamentals, thus I shall skip this portion till I know some stuff about it. Looking at the markets today, it seemed a bit weird. SSE dropped 4+% but HS and STI rose. More importantly, my S-shares seem to be rebounding off their lows. One possible deduction is that people in China are taking profits and investing in H-Shares and S-shares. Mid-cap holdings like CAO and FerroChina had significant increase in volume today (+40%).
However, this does not mean that everything is fine . I feel even after the rate cut decision, the markets will be choppy till year end. Something like 3 steps forward, 2 steps back kind of scenario.
Anyway, below are brief updates on my counters.
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AsiaEnv - selling pressure exhausted. This is shown by the small volume traded today. All set for a reversal.
AdvSCT - buyers and sellers fighting it out. Despite the hype from forummers in SI, I feel that it will show weakness soon. As this is bought using CFD, risk is higher, and thus, buying should be done in short term downtrends.
Boustead - buyers trying push down the price and sellers trying to push up the price. It's tough accumulating this counter and I have no idea why volume dried up. Don't tell me all retail investors are fundamentalists.. haha... Man.. if thats the case, everyone will hold and we wont see price increase.. haha..
ChinaAOil - As predicted, it seems to have rebounded off the bottom of 2.6 to a region of around 2.70. Increased volume today might indicate that people are collecting the counter. "Every dog has its day"and maybe the day will come sooner than I expected.
FerroChina - $2.44 seems to be relatively good level as it indicates a rebound AND it is on the 26d EMA. Of cos , EMA can be set with different settings and if you use a longer period, $2.40 should already be a good point to buy. All these indicators are guides. Although my trading system revolves around EMA rules, sometimes, it is difficult to judge as the cut might be very minute (more on this when I'm free).
Gold - A not so good investment on my part due to weakening dollar (yes, the currency for the gold stock is in USD). At the moment, chart looks kinda tricky as it seems a bit too Bear. This is my long term investment and I guess unless I am in need of cash, this investment won't be encashed
Lyxor China H - volatile at the moment. Currently still on a healthy intermediate uptrend.
MiddleEast - hoping to load in Tier 2 positions at $0.19 but it held strongly at $0.2. Today's rise was unexpected as I did not expect the consolidation to end so soon.
MMP - I told my brother that I will be pouncing at $1.14 and I was almost there. MMP is a safe stock to leverage on due to its small movement. This means that rewards per risk is very good. It is very well supported at $1.21 to $1.22 that one could capitalize on market panic to load the shares. Anyway, I missed the boat at $1.16 but still holding to my current batch. This is part of my long term investments so shouldn't be bothered by it.
PacAndes - Consolidation still evident and more time might be needed. No problem at the moment
STI ETF - a good example portraying the volatility of the market. Just for long term.. wonder what happens to this counter when the new index kicks in.
Tomorrow might be a profit taking day and I hope that I might get some advSCT :)
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posted by Nenix @ 7:39 PM   |
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| NenixDreams Fund |
| Fund launchprice on 1st August 2006= $1
Target for 2007 = Beat STI index
Current price of NDF as of 1st Oct 2007 = $1.58
Current price of STI as of 1st Oct 2007 = $1.54
Difference with STI index is 0.04
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