Friday, May 22, 2009

Quick Trading Note


The market has gotten to my target of 1,048 and judging from the movements since then, I think there isn't sufficient energy or momentum to push things through 1,050 to 1,072 as the next target level. Hence I would liquidate most of my trades and look for better re-entry levels. Possibly around 1,008-1,015.




p/s photo: Satomi Ishihara

12 comments:

Pundekman said...

Dali,

Need your opinion. If I have bought shares at a muuuuch lower price, should I sell now and hope for lower (and risk never buying at the same price I originally bought again) OR should I hold on and emply a moving stop strategy? Need to pick your brain on this. TQ.

Salvatore_Dali said...

i dont go into micro strategy... if i were u id take profit

CJ said...

Hi Dali

Can we short the future at current level? and wait to accumulate stocks at 1008-1015 level?

Denny

CJ said...

Hi Dali

Since CI is losing steam and there is a high possibility that it will move south to cover the technical gap at 1012 can we play short now?

Denny

RAD said...

Dear Dali

I have invested at current levels in the following stocks:

Pelikan
Ann Joo
SSteel
TAANN
Malaysian Smelting Corporation
Hua Ann

Zelan

IJM Plnt
KM Loong

KNM

I am not after some quick trading profit, but going by your reflationary theory, would my selection of companies, in your opinion be doing well in 3-5 years time.

Of course this is assuming the management of the comapanies do not have skeletons in thier wardrobes or another financial armageddon is unleashed upon us

Regards
Radhakrishnan

Salvatore_Dali said...

cj, i dont comment on those questions..

pelikan ok, ta ann ok, southern steel ok, ijm plant ok, kim loong ok

i would sell the rest

Aaudrei said...

Hi dali,

Would appreciate any advise you can offer.

I have TA-WB, its currently 50% down from my purchase cost. Should I exercise the warrant, or just sell the warrant now.

I also have Kinsteel, its 10% down from my purchase cost. I know you hv advised against this stock before, but please can you enlighten me if I should hang on or let go?

Thanks for reading!

Salvatore_Dali said...

if i was holding ta-w, i would convert...

no view on kinsteel

Aaudrei said...

thank you dali!

pls don't stop doing what you do on this blog!

i am sure you have many (silent) readers out there who are gaining much insights based on your wisdom.

some may appreciate it, some may not. that's life!

random said...

LOL

this is like a class in session :P

solomon said...

I would do the same based on the low volume. There might be the old saviours like UEMLand / Lion group to warm up the market.

When foreign participation are in, high chances that they will press down the market. Then, it could be the timing to buy. I foresee some sell off next 2 weeks.

I will enter during second week of June.

David said...

How do these foreign funds work? How can they press down the market at will?