SC Global and SingLand

Sold Straits Asia

Straits Asia dropped below the 200EMA for on heavy vol, has rebounded with light vol.

Sold 9 lots today (1st Mar 10) @ 2.07.

Loss is $1400, includes brokerage. It may be easier to handle it as a percentage, which is 7.1% of the trade, or 0.6% of my capital.... acceptable.

Watching & waiting

Still unsure mkt direction. Watching:

• M1. V. Strong trend, but no clear entry point.
• Parkway: same
• Goodpack: same
• Biosensors: same
• PLife Reit: Maybe, but not expected to be a leading stock
• Suntec REIT: Maybe, just at its 25 and 50 MAs.
  
• SC Global: See if it respects 10 month upsloping trendline. Current >.
• UOB KH: Upsloping 10 month trendline sppt (from weekly chart)
  
• Singland: broken H&S
• Thomson medical center. Holding up well, but illiquid.
• Tianjin Zong Pharma: same
• Broadway Indust: is respecting green MA. But v illiquid.
• Breadtalk: same

Mabye:

• Stats chippac
  

CWT

Still in an uptrend, above its MAs. Recently worked off its overbought condition:

Resistance zone at 96 to 99c (previous high, as well as from previous year). Clear after than, till $1.17.

What prevents me taking a position?

• market direction unclear.
• Ideally I would like to see another peak, so a clearer resistance-trendline (triangle) can be drawn. But this stock has not historically behaved like that.... too jumpy, short consolidation periods.
• Possibly buy on clearer market direction and 4-red/1-green.

Note, stock quite illiquid, may have to take half position only.

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.

Straits Asia again

This trade has been quite stressful:

• My broker called me yesterday to suggest that critical support was at 2.03 (200 EMA) several hours before it bounced off from there... She suggested I buy more but I didn't because don't want to risk any more on one trade.
• She said critical resistance is around 2.25, which is the 50MA and the blue trendline (connecting head and shoulder).
  

In hindsight, maybe I should have waited for the trend to be clearer before buying both for:

• the overall market, and
• to break the head/right-shoulder trend line. Or at least a HHHL.
  

Bought Straits Asia

Bought 9 lots Straits Asia Resources @ $2.20.

Seems to be have made a failed H%S pattern, which may be bullish if enough weak holders have been shaken out.
It promptly dropped 3% after I bought it. Today's engulfing candlestick (not shown) looks bad. Since I'm in the dare, nothing to do but see how it works out.

Cut loss level at the previous low, $1.93