Saturday, August 16, 2008

Dosent seem to be working....

My recent buys do not seem to be working. Have not got clear signals to cut loss yet, but there is a good chance I will. The US rally seems to be weak, with too many distribution days, and the SGX stocks are down (median -3%, excluding the sub-20c counters) from the day that I bought (31st July) till today (17th Aug).

My maximum cut loss will lose me just under SGD 5.5K, which is nothing to lose sleep over. Excluding pfood (as an investment), I have lost abt 2.6K to date.

In the short term, the SGX is out-of-synch with the US market. Think the SGX is due for a short term 'bounce' soon, and will wait for that to either confirm there is a rally or cut loss on the weaker counters:
  • Venture is too near support to cut now. Wait and see. The recent fall could possibly be seen as part of a normal reaction as volume was not too high.
  • SP-Chem and Boustead have done nothing on weak volume...either way, wait for breakout or breakdown.
  • Oceanus is still in an uptrend, despite Friday's fall (low vol). Trailing stop loss at 39.5c
  • HI-P still in weak uptrend, and the recent fall can be seen as a normal reaction.
Wait and see....

I should probably learn more abt overbought/undersold indicators to time my purchases better in the short term.

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