Closed the following position:
Indo Agri @ $1.715 (-$3450.42)
Quite a bad market recently, as US market plunged badly last night. I didn't open any more positions as it is quite risky. While Asian markets plunged within 1-1.5% range, Europe seem to be holding well, awaiting for the US markets to open. Definitely not for the faint hearted for this month, as we hit new highs but yet gains are not hitting new highs.
Trading positions for 23rd Oct 2009
Closed the following positions:
Lionapac @ $0.349 avg (-$876.52)
Opened the following positions:
IndoAgri @ $1.815
Nothing much to update as I was tight up with work nowadays as well as having some headaches for the past 1 week. It was quite uncomfortable as it is causing me to lose focus at time. Today, markets are still posting results and Fed ben is going to come out with some speech and it may affect the markets depending on what he will comment on the economy.
Lionapac @ $0.349 avg (-$876.52)
Opened the following positions:
IndoAgri @ $1.815
Nothing much to update as I was tight up with work nowadays as well as having some headaches for the past 1 week. It was quite uncomfortable as it is causing me to lose focus at time. Today, markets are still posting results and Fed ben is going to come out with some speech and it may affect the markets depending on what he will comment on the economy.
Trading positions for 21st Oct 2009
Closed some positions in LionApac..
Opened the following position:
Jason Marine @ $0.3925
Just came back from my department dinner and saw that Dow opened low and exploded high in the early trading hours. DuPont [DD 34.53
0.66 (+1.95%) ], American Express [AXP 35.74 0.32 (+0.9%) ] and Alcoa [AA 14.03 0.24 (+1.74%) ] were the top three gainers on the Dow.
But in the technical point of view, look at UUP (USD chart), it is falling again and this is showing the strength in the market. If you look back in March, this is a clear sign that this inverse relationship is propelling the markets. More actions to come, as the market is currently moving slightly downwards.
Opened the following position:
Jason Marine @ $0.3925
Just came back from my department dinner and saw that Dow opened low and exploded high in the early trading hours. DuPont [DD 34.53
0.66 (+1.95%) ], American Express [AXP 35.74 0.32 (+0.9%) ] and Alcoa [AA 14.03 0.24 (+1.74%) ] were the top three gainers on the Dow.But in the technical point of view, look at UUP (USD chart), it is falling again and this is showing the strength in the market. If you look back in March, this is a clear sign that this inverse relationship is propelling the markets. More actions to come, as the market is currently moving slightly downwards.
Trading positions for 20th Oct 2009
Closed the following positions:
chinaeratat @ $0.296 (+$928.57)
Capitaland @ $4.16 (-$52.59)
Remaining position:
Lionapac @ $0.3635
Total profits since Aug 12th: $18,998.73
Market seems to be edging up, especially in the US market. With the USD falling and low volume, S&P and dow is edging up and almost reaching the 10,100 mark. While Caterpillar posted a strong results after the bell yesterday, more earnings will be coming soon. After all these earnings, how will the market be reacting next? With oil and gold moving up fast and furious, will the unwinding for these 2 be down and fast too?
chinaeratat @ $0.296 (+$928.57)
Capitaland @ $4.16 (-$52.59)
Remaining position:
Lionapac @ $0.3635
Total profits since Aug 12th: $18,998.73
Market seems to be edging up, especially in the US market. With the USD falling and low volume, S&P and dow is edging up and almost reaching the 10,100 mark. While Caterpillar posted a strong results after the bell yesterday, more earnings will be coming soon. After all these earnings, how will the market be reacting next? With oil and gold moving up fast and furious, will the unwinding for these 2 be down and fast too?
Trading positions for 19th Oct 2009
Opened the following positions:
biosensor @ $0.68 (sold at $0.69, +$208.65)
Lionapac @ $0.3635
chinaeratat @ $0.275
Capitaland @ $4.13
Total profits from semb marine, cosmosteel and ramba: +$952.57
Total profits since Aug 12th: $18122.75
biosensor @ $0.68 (sold at $0.69, +$208.65)
Lionapac @ $0.3635
chinaeratat @ $0.275
Capitaland @ $4.13
Total profits from semb marine, cosmosteel and ramba: +$952.57
Total profits since Aug 12th: $18122.75
Trading positions for 16th Oct 2009
Closed the following positions:
Cosmosteel 25 lots @ $0.53 & 50 lots @ $0.5725
Need to wait for the statement to come before I can tabulate the figures for this trade as I sold in 2 different days. While waiting for the figures for ramba as well for the brokerage, looking at the US market, it looks scary now as the fall is fast and furious, with Bank of America, GE and IBM not meeting expectations. Now with consumer sentiments falling, what's going to prop up the markets?
Cosmosteel 25 lots @ $0.53 & 50 lots @ $0.5725
Need to wait for the statement to come before I can tabulate the figures for this trade as I sold in 2 different days. While waiting for the figures for ramba as well for the brokerage, looking at the US market, it looks scary now as the fall is fast and furious, with Bank of America, GE and IBM not meeting expectations. Now with consumer sentiments falling, what's going to prop up the markets?
Trading positions for 15th Oct 2009
Closed the following positions:
Semb marine @ $3.5 (+$806.95)
Remaining positions:
Cosmosteel @ $0.551
Markets were edging up in the morning but the afternoon didn't show strength in most of the mid-small cap counters. Currently, Europe is trading around -0.5% for each market and Goldman's results are out. Even though it beat market expectations, but the investment arm of Goldman didn't surprise the market.
The news for Citi just came out, and it posted an earnings loss of 27 cents a share that appeared to beat analyst estimates but didn't satisfy Wall Street. Tonight will be an interesting night as Dow has crossed the 10,000 mark yesterday and the whole sentiment is on hold now waiting for the opening.
Semb marine @ $3.5 (+$806.95)
Remaining positions:
Cosmosteel @ $0.551
Markets were edging up in the morning but the afternoon didn't show strength in most of the mid-small cap counters. Currently, Europe is trading around -0.5% for each market and Goldman's results are out. Even though it beat market expectations, but the investment arm of Goldman didn't surprise the market.
The news for Citi just came out, and it posted an earnings loss of 27 cents a share that appeared to beat analyst estimates but didn't satisfy Wall Street. Tonight will be an interesting night as Dow has crossed the 10,000 mark yesterday and the whole sentiment is on hold now waiting for the opening.
Trading positions for 14th Oct 2009
Closed the following positions:
Ramba @ $0.7075
Opened the following positions:
Semb Marine @ $3.39
Cosmosteel @ $0.551
I need to calculate the comms charges for ramba before I can get the figure, thus I can't tabulate the figures.
Now Dow is nearing the 10,000 mark and with Intel showing signs of recovery, JP Morgan surprised the market with higher than estimates results and more results coming out from Goldman, Citi soon. I guess we can enjoy this upwave while it last as banks enjoy the mark-to-market adjustments. The 10,000 mark is like the 14,000 mark we went through in 2007, where the golden era was pushing its way through. Just take note and be cautious along the way and take profits when necessary.
Ramba @ $0.7075
Opened the following positions:
Semb Marine @ $3.39
Cosmosteel @ $0.551
I need to calculate the comms charges for ramba before I can get the figure, thus I can't tabulate the figures.
Now Dow is nearing the 10,000 mark and with Intel showing signs of recovery, JP Morgan surprised the market with higher than estimates results and more results coming out from Goldman, Citi soon. I guess we can enjoy this upwave while it last as banks enjoy the mark-to-market adjustments. The 10,000 mark is like the 14,000 mark we went through in 2007, where the golden era was pushing its way through. Just take note and be cautious along the way and take profits when necessary.
Trading positions for 13th Oct 2009
Averaged down my position in SG market:
Ramba @ $0.6965
Markets were not that good in the afternoon, where most of the counters were falling back. Ramba for 1, after announcing the JV with petrochina went on a selling spree and closed at a low of $0.675.
Not much action in the US market, currently trading at its last closed price on yesterday, while it opened lower due to J & J's results. More results are coming this week, with JP Morgan, Citigroup, Bank of America and GE. If I am not wrong, Goldman is today and they are waiting for them to come out with some explosive results after the mark-to-market accounting.
The dollar is still weakening and this may indicate a few signs. Global companies may post better than expected results if the currency on the other end is appreciating against USD, since global companies are more focused in their overseas operations than in USA.
I have put the daily chart of the UUP (USD index chart) and the SPY (S&P 500) counter to show the relationship of the 2. As I did mentioned yesterday, and this is purely technical analysis, the weakening of the dollar seems to prop the market higher and higher and this is on going for the past 6 months if you refer back to the daily charts.
Ramba @ $0.6965
Markets were not that good in the afternoon, where most of the counters were falling back. Ramba for 1, after announcing the JV with petrochina went on a selling spree and closed at a low of $0.675.
Not much action in the US market, currently trading at its last closed price on yesterday, while it opened lower due to J & J's results. More results are coming this week, with JP Morgan, Citigroup, Bank of America and GE. If I am not wrong, Goldman is today and they are waiting for them to come out with some explosive results after the mark-to-market accounting.
The dollar is still weakening and this may indicate a few signs. Global companies may post better than expected results if the currency on the other end is appreciating against USD, since global companies are more focused in their overseas operations than in USA.
I have put the daily chart of the UUP (USD index chart) and the SPY (S&P 500) counter to show the relationship of the 2. As I did mentioned yesterday, and this is purely technical analysis, the weakening of the dollar seems to prop the market higher and higher and this is on going for the past 6 months if you refer back to the daily charts.
Trading positions for 12th Oct 2009
Missed out quite a number of days to update as I was held up by work, work and more work.
Closed my US positions for the past week:
MGM @ $11.40 (+US$38)
GE @ $16.42 (+US$374.5)
RF @ $5.91 (bought in at $6.15) (-US$92)
Total profits for US market: +US$320.50
Opened the following position in SG market:
Ramba @ $0.705
Total profits since Aug 12th: $16,914.12 (for SG market only)
After closing the US positions, it seems that I lost quite a fair bit in forex as well. The initial positions I took was at USD 1.44 and recently at USD 1.416. Currently, USD is at 1.399 against SGD and I am looking at $1.401 - $1.404 to convert back. USD is being hammered nowadays and the US government is kinda supporting this weakening of the dollar.
If you noticed since the rally in March, the fall in dollar has been triggering the rally in the market. What does it mean? Take note of the recent rallies in dow, where bank counters are not rallying as much as commodities. Since commodities are pushing this rally, the weakening of the dollar is pushing investors to flee to commodities instead! Look at gold itself, currently at $1058+, it is going crazy! I did mention in one of the posts earlier that I felt gold wouldn't rally too much past the $1000 mark but looking at it right now, it is really going wild and it may easily go through $1100 if the dollar keeps weakening. In fact, Nikkei is suffering from this as yen keeps appreciating. As an exporting country, they may not survive past this if they were to depend on internal consumption.
Closed my US positions for the past week:
MGM @ $11.40 (+US$38)
GE @ $16.42 (+US$374.5)
RF @ $5.91 (bought in at $6.15) (-US$92)
Total profits for US market: +US$320.50
Opened the following position in SG market:
Ramba @ $0.705
Total profits since Aug 12th: $16,914.12 (for SG market only)
After closing the US positions, it seems that I lost quite a fair bit in forex as well. The initial positions I took was at USD 1.44 and recently at USD 1.416. Currently, USD is at 1.399 against SGD and I am looking at $1.401 - $1.404 to convert back. USD is being hammered nowadays and the US government is kinda supporting this weakening of the dollar.
If you noticed since the rally in March, the fall in dollar has been triggering the rally in the market. What does it mean? Take note of the recent rallies in dow, where bank counters are not rallying as much as commodities. Since commodities are pushing this rally, the weakening of the dollar is pushing investors to flee to commodities instead! Look at gold itself, currently at $1058+, it is going crazy! I did mention in one of the posts earlier that I felt gold wouldn't rally too much past the $1000 mark but looking at it right now, it is really going wild and it may easily go through $1100 if the dollar keeps weakening. In fact, Nikkei is suffering from this as yen keeps appreciating. As an exporting country, they may not survive past this if they were to depend on internal consumption.
Trading positions for 1st Oct 2009
Closed the following positions:
Oakwell @ $0.09 (-$1044.63)
No more contra positions.
Total profits since Aug 12th: $16,914.12
While waiting for my account to be ready, I am in the US market. Currently loaded with:
MGM @ $11
GE @ $13.79
The markets bounced off from a lousy report and it was really a powerful reverse and it was good if you are loaded since yesterday and didn't fall fear to the big fall in the morning. It was really ugly because alot of shortists and weak holders probably got flushed out and the cover back was fast and furious. I missed out quite a number of good trades for the day too, with BAC running away and LVS running too fast for me to catch.
Oakwell @ $0.09 (-$1044.63)
No more contra positions.
Total profits since Aug 12th: $16,914.12
While waiting for my account to be ready, I am in the US market. Currently loaded with:
MGM @ $11
GE @ $13.79
The markets bounced off from a lousy report and it was really a powerful reverse and it was good if you are loaded since yesterday and didn't fall fear to the big fall in the morning. It was really ugly because alot of shortists and weak holders probably got flushed out and the cover back was fast and furious. I missed out quite a number of good trades for the day too, with BAC running away and LVS running too fast for me to catch.
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