In my last post on 29 aug ( click here : " Jitters landing into Jackson Hole" ) , I had a bout of jitters over the outcome of Bernanke's impending speech at Jackson Hole & accordingly dumped 3/4 of my portfolio over a few days up to & including that day ( genting sp, ezion , sakari etc ).
The very next day , the STi gap down from its small 10 pt slide the previous 6 days ( as predicted by the 22 aug post- click here ) into a precipitous 60 pt plunge over another 6 days which hit a intermediate reaction level today ( see below chart which speaks a thousand words ) .
As the Sti plunged , most second liners plunged as well , notably Genting SP plunged to 1.31 ( from high of 1.395 ) and Dyna-mac down to 48c( down from high of 54c) both of which hit their reaction levels today & bounced.
While most stocks plunged in the last 6 days , I noticed some second liner stocks held up quite well , in particular Ezion .
Ever since I sold 3/4 of my Ezion at 1.08 in my last post ,to my surprise , it had not corrected much , never gone below my 1.04 reaction level in my earlier chart posted on 22 aug( click here) in which i first saw an opportunity to buy Ezion , hoping for a rally to 1.15 but failed to break out of 1.09 twice... thanks to market jitters over impending outcome of jackson hole on 31 aug or ecb meeting today.
... until today 1654 hrs when it crossed 1.09 for the first time after 2 failed attempts in recent days , with furious buying that started at 15:28:53 when some one whacked 1,000 shares at 1.07 with Shanghai up 0.7% and on a rising hsi & a strong DAX -- headsup indications from big boys who somehow knew that tonight's ECB's bond buying program and US ADP jobs report will be good or expecting a good fomc next week after Bill Clinton's rousing speech last nite at Democratic national convention.
As Ezion prices rose on furious buying , I managed to collect 500 lots at avg price of 1.09 .. it closed at day high of 1.11
at moment of this writing , the dow is up >200 pts, I hope this will give Ezion enough momentum tomorrow morning or next few days to hit 1.15-1.16 for a dump .
The very next day , the STi gap down from its small 10 pt slide the previous 6 days ( as predicted by the 22 aug post- click here ) into a precipitous 60 pt plunge over another 6 days which hit a intermediate reaction level today ( see below chart which speaks a thousand words ) .
As the Sti plunged , most second liners plunged as well , notably Genting SP plunged to 1.31 ( from high of 1.395 ) and Dyna-mac down to 48c( down from high of 54c) both of which hit their reaction levels today & bounced.
While most stocks plunged in the last 6 days , I noticed some second liner stocks held up quite well , in particular Ezion .
Ever since I sold 3/4 of my Ezion at 1.08 in my last post ,to my surprise , it had not corrected much , never gone below my 1.04 reaction level in my earlier chart posted on 22 aug( click here) in which i first saw an opportunity to buy Ezion , hoping for a rally to 1.15 but failed to break out of 1.09 twice... thanks to market jitters over impending outcome of jackson hole on 31 aug or ecb meeting today.
... until today 1654 hrs when it crossed 1.09 for the first time after 2 failed attempts in recent days , with furious buying that started at 15:28:53 when some one whacked 1,000 shares at 1.07 with Shanghai up 0.7% and on a rising hsi & a strong DAX -- headsup indications from big boys who somehow knew that tonight's ECB's bond buying program and US ADP jobs report will be good or expecting a good fomc next week after Bill Clinton's rousing speech last nite at Democratic national convention.
As Ezion prices rose on furious buying , I managed to collect 500 lots at avg price of 1.09 .. it closed at day high of 1.11
at moment of this writing , the dow is up >200 pts, I hope this will give Ezion enough momentum tomorrow morning or next few days to hit 1.15-1.16 for a dump .
11 comments:
Hi Bill,
Today saw Ezion of a high of 1.12. Have you dumped the stocks or maybe another surge?
I collected some small profit for my Jardine and wait for clear signal to sell or buy.
Regards
Terence
Hi Terence ,
Looking at the furious buying , I will dump half at 1.16 , the rest I leave for dumping Monday morning..
Regards
bill
Hi Bill
Congra,you are really spot on.
I am really impress.
victor tan
Hi Victor,
Thanks. Actually i was quite lucky.
Ezion has been kind to me today.
managed to get out half at 1.20 at pre-close , leaving the rest for next week.
bill
Bill,
what is you outlook for next week?
Do you think China will continue it's rebound with HSI?
Flatfoot.
Hi Bill
Would share some counter over here for us to profit a little.
Me Just manage to make a little.
Hope u share, And if you dont also it is Ok, I understand your position.
Thanks
victor tan
Hi Vic,
most stocks on friday hit their reaction levels and drop back a bit, need to wait for some retrace to complete first..
except Ezion which seems to ram right through - thinking of unloading my remaining half of ezion at 1.25-27 if possible .
need to watch closely price action on monday to see if there is sufficient momentum ..
regards
bill
Hi Vic ,
if your mouse is itchy, can try Midas , wait for the supply at 39c to be absorbed first , next target 42c then we'll see.
regards
bill
Hi Bill,
Today Midas hit a high of 40cents. Seems like market is trending higher and i am waiting for the signal to short any blue chips for a quick profit.
Looking at Jardine again.
Regards
Terence
Hello Bill
Thanks for your tip.
I have something to ask you. Please do read your mail.
For those who read this, don't misunderstand, i m asking him abt the course, nothing personnel.
Thanks Bill for your generousity. We know disclaimer apply. Thanks once again.
victor
Hi all,
as u all may know already , we should have QE3 announcement on thurs nite fomc.
so buy buy buy before the announcement and sell into the announcement friday morning.
regards
bill
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