Bought NOL

Friday 19th Mar 10. Bought 10 lots NOL @ 1.97.

It had rebounded off its resistance-turned-support line at around 1.93. I bought the day after. It went below that the next day, but seemed to recover today.

Resistance at $2.20.

The retest of the 1.93 line a few days ago is not significant enough to make it a 'previous low' when viewed on a longer timeframe... I am a little uncomfortable buying with such 'flimsy' support...a break here would not convince me the trend was going down...hence the trade is a little too 'short term' for my liking... to open to be whipsawed.

But there's not much to buy...

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 NOL

My broker called to recommend this one and I remembered it was another triangle. She recommended at $1.54, but I only got in a few hours later.

Bought 6 lots @ $1.58 on 18th Dec 09.