Sold Ho Bee, SC Global

Mon 5th Apr, sold:

• 11 lots Ho Bee @ $1.84
• 10 lots SC Global @ $1.86

Main reason for selling was that my cut loss level was too far down...was a mistake to buy. Secondly, they were not performing even in a bull market.

Made small loss on the brokerage.

Bought Ho Bee

Bought 11 lots Ho Bee yesterday (9th Mar 10) @ 1.84, as it had broken out of triangle.

It has since pulled back to the trendline, but on lower vol.

Cut loss would be at 1.63. Resistance at 1.82, 1.93 and 2.24.

Ho Bee

Ho Be has held up well:

• Still (mostly) above MAs despite the Jan correction.
• Not badly affected by Friday's anti speculative measurement announcement.

Next resistance is at 1.90 (top of triangle) followed by 2.24 (2007 highs):


What prevents me from taking a position?

• uncertain market direction
• wait for a breakout from triangle (blue line resistance).
• Would be nice to see a lower MACD-H form as it retests 1.59 sppt.... could I buy on support then? Maybe...only if market direction becomes clearer.

Note the pullbacks in previous breakouts (Nov/Dec). Would I count on this again? Probably not. But don't get scared out of the position if I take it.