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 Bukit Sembawang, Rotary Engineering

Wed 18th-Nov-09:

• 10 lots Rotary Engineering @ 1.07
• 2 lots Bukit Sembawang @ 4.88

Both showing MACD-divergence, may have broken out of trendline. I await: HH on high vol.

My scanning criteria. I want:

• tocks that have not fallen much in the past 2 month.
• Volume should be high on up-days and lower on down days. Rotary shows this, BS a little. In the current market, there are a lot of stocks showing distribution (eg: SGX, Guocoland).
• MACD or MACD-H divergence with price.

I took positions abt half my normal size, because still not sure of overall market direction:

• US indexes making new highs, but no solid volume confirmation, and depth had not confirmed the uptrend (12th Nov) either.
• Singapore market seems trendless.
• But the individual charts good with well defined cut loss points... must remind myself that by the time everything is perfect, the opportunity will be gone.

With hindsight, bought at intraday high as they went down today :( But at least today's down was light volume.