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.

Sold Wheelock, Wing Tai

Today, 22 Jan 2010. Sold:

• 5 lots Wing Tai @ 2.03
• 5 lots Wheelock @ 2.06

Sold because I want to cut my exposure to potential losses as these stocks are trading quite far from support.

Was careless to enter into these trades.

Sold Capitamall Asia

Sold 4 lots today @ $2.34

Sold Olam

Olam dropped yesterday on high vol, breaking down through triangle. And dropped again today on high vol, making a LL.

Sold 4 lots @ $2.51 on 22 Jan 2010.

Noble also dropped on higher vol, are commodity stocks starting a downtrend?

"SGX Trading Volume Surge Seen as Bullish"

In big letters on the front page of today's BT.

I don't take this as a sell signal, wait for it to appear in the new paper or the ST.

Start looking out for signs of euphoria...

SGX market

US mkt dropped on high vol Friday (possibly due to options expiration), following a similar high vol drop on Tues. Maybe going back to a pattern of higher highs on low vol. Having risen since Mar, it is overdue for a correction. This gives a cautious undertone.

But in Singapore, there are no signs of a correction yet:

1) Leading stocks for this rally show no problems, their pullbacks are all on low vol. The leading stocks are the ones which broke out earliest on high vol, or which ignored the Sept-Nov consolidation period and have been in an uptrend since March. Some are:

• High end property developers (Wheelock, Wing Tai, SC global, KepLand).
• SIA Eng, mabye SIA.
• Noble, Straits Asia
• Suntec REIT, Frasers Centerpoint trust

2) Friday's top 20 vol shows only 6 out of 20 stocks below 20c. Still seems ok, we do not see too many pennies around the sub 5c level (eg: Jade).

3) Stocks are suddenly shooting up on massive volume in a single day.

There is no time to look at support and resistance on charts, wait for pullbacks and buy. Have to buy before the stock moves. Just throw money at the bull and hope something sticks.

Amazing how fast everything has changed.

Bought Olam

13th Jan 10. Bought 4 lots Olam @ 2.71 on broker's recommendation.

It appears to be in a large triangle consolidation.