Sold Everything

Yesterday, 25th Jan 2010. Sold:

• 3 lots SIA Eng @ $3.53
• 14 lots Amara @ 53c
• 1 lot SIA @ $14.00
• 10 lots Mermaid @ 80.5c
• 23 lots Hong Fok @ 71.5c
• Hiap Seng Engineering 15 lots @ 64.5c
• GuocoLeisure 14 lots @ 71c
• Yangzijiang 7 lots @ $1.13
• Straits Asia 3 lots @ 2.32
• NOL 6 lots @ $1.77
• Rotary 10 lots @ 1.04
• KepLand 3 lots @ 3.43

Sold because the market looks to be correcting. Yesterday I put it at an 80% chance. Last nights limp rebound, after 3 consecutive down days on the US mkt, seems to confirm this (vol down 28% on NYSE, 24% on Nasdaq):

Short term, I missed the rebound.... too bad.

From Nov 09 to Now, lost 3K. Main mistake was getting to carried away with the bull market and chasing stocks without a tight stop loss.

Bought KepLand

Fri 20th Nov 09: bought 3 lots @ $3.05.

Cut loss at $2.75 (previous low).

KepLand breakout?

$3.00 is the previous June high, as well as 50% of the white candlestick.

Pros:

• Clearly broken out on high vol, with low vol retracement.
• Daily price/vol action shows accumulation since July.

Cons:

• Buy on breakout risky in non-trending mkt. Next sppt after $3.00 is hard to determine. At what point would I cut loss?

US mkt currently down nearly 2% tonight, see how it goes and how this S'pore mkt reacts tmr. Will KepLand hold at $3.00?