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Thanks sifu xing78 :)
From the chart, I think I will short more tomorrow in the opening. Will cover when it is reaching 1.3 area.
Depends on which time frame you are looking at.
Normally I will use the weekly time frame to draw the fibonacci (take the highest pivot point and the lowest pivot point) as it seems to be more accurate to me for pointing out the major pivots for swing trades.
wisann ( Date: 02-Aug-2011 23:35) Posted:
Bro, I am a newbie in chart reading. May I know how you draw the fibonacci?
Is it using the recent high and recent low?
xing78 ( Date: 02-Aug-2011 22:16) Posted:
$1.50 is taken out today but haven't confirm below yet, so there is a possible chance it could make a bounce after the huge sell-off today.
I would be looking for side-way consolidation over the next couple of days to form a bear flag for now before putting in more shorts (possibly at either gap filled $1.685 or gap window $1.595).
Expecting some small bounces along the way.
Major support is estimated at 1.30 followed by 1.00.
Major resistance is estimated at 1.60 followed by 1.70.
Good Luck :p
Below is the updated chart.
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Bro, I am a newbie in chart reading. May I know how you draw the fibonacci?
Is it using the recent high and recent low?
xing78 ( Date: 02-Aug-2011 22:16) Posted:
$1.50 is taken out today but haven't confirm below yet, so there is a possible chance it could make a bounce after the huge sell-off today.
I would be looking for side-way consolidation over the next couple of days to form a bear flag for now before putting in more shorts (possibly at either gap filled $1.685 or gap window $1.595).
Expecting some small bounces along the way.
Major support is estimated at 1.30 followed by 1.00.
Major resistance is estimated at 1.60 followed by 1.70.
Good Luck :p
Below is the updated chart.
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你 的 勇 气 与 精 神 可 嘉 。 但 是 在 股 市 里 ， 个 人 的 判 断 是 不 值 钱 的 。 必 须 狠 下 决 心 止 损 。
Loss Percentage to recoup loss
10% 11%
20% 25%
30% 43%
40% 66%
50% 100%!
Money management is vital for trading/investing .Never ever had huge loss,set stop loss before enter any trade and
execute it with discipline.Peg_li ( Date: 02-Aug-2011 22:55) Posted:
Just remeber that none of stocks always fall down and also none of stocks keep on going up.
The most important thing is not to lose confidence.
Peg_li ( Date: 02-Aug-2011 22:42) Posted:
I still got confindence to its' future in offshore business other than its dry bulk business.
It might be the top offshore company in china next 3 to five years.
Anyway, I don't think it will go down to 1$. it got very strong support at 1.37$ since 2 years ago if I remeber correctly |
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Good Luck for the PPL who short this counter, seen tomorrow is another big drop ....
Safest in my opinion is to buy physical gold and keep in the bank's safe box in my opinion.
There is no need to be worried of unexpected event whereby the counter you have vested is halted due to fraud.
Perhaps you can start to buy 1 gram of gold everyday for the next 5 years (based on conservative assumption of 20% annualized return against the SGD), it should beat the highest dividend yielding counters available.
Maybe can also consider UOB gold saving account if you do not have any overseas " lobang" ) to buy and store physical gold (I still can't understand why we need to pay 7% GST to buy physical gold in Singapore).
Just my humble view.
:p
RachelG ( Date: 02-Aug-2011 22:41) Posted:
| Whao.. i would have used to money to go for dividend play. The safest in such uncertain time. Play with memstar, challenger etc now. Report card coming out and all have history of very good dividend. Memstar if follow the past probably will have yield of 7% at current price. |
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With US market currently drops, is it advisable to short more for tomorrow?
Any advice, sifus?
Today's 14.2% price drop to 1.455 (day's lowest 1.45) in the market already spoken loud and clear. This one obviously made it even more loud and clear..
| 17:05:01 | 1.455 | 1,965,000 | Sell Down |
Just 3 words..
Love Is Blind...
U cant blame their love :)
If i love shit, u tell me dirty i also will eat!!! Thats love...
I know many stocks that fall down and never recover.
Your confidence is not important.
The most important thing is what the market thinks.
Losing confidence is not a bad thing, it allows you to evaluate your mistakes and learn from them.
Peg_li ( Date: 02-Aug-2011 22:55) Posted:
Just remeber that none of stocks always fall down and also none of stocks keep on going up.
The most important thing is not to lose confidence.
Peg_li ( Date: 02-Aug-2011 22:42) Posted:
I still got confindence to its' future in offshore business other than its dry bulk business.
It might be the top offshore company in china next 3 to five years.
Anyway, I don't think it will go down to 1$. it got very strong support at 1.37$ since 2 years ago if I remeber correctly |
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!!!
i...very the shocked to hear the aforementioned.
Peg_li ( Date: 02-Aug-2011 22:55) Posted:
Just remeber that none of stocks always fall down and also none of stocks keep on going up.
The most important thing is not to lose confidence.
Peg_li ( Date: 02-Aug-2011 22:42) Posted:
I still got confindence to its' future in offshore business other than its dry bulk business.
It might be the top offshore company in china next 3 to five years.
Anyway, I don't think it will go down to 1$. it got very strong support at 1.37$ since 2 years ago if I remeber correctly |
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Today's 14.2% price drop to 1.455 (day's lowest 1.45) in the market already spoken loud and clear.
Cosco maintains a 'cautious outlook' for the rest of the year, given the fragility of the global economy and the unevenness of recovery.It warned of compromised operating margins for its shipyard operations due to a few factors: the gradual appreciation of the yuan against the US dollar rising interest rates in China a potential rise in wages from China's labour shortage and the rising price of steel.Cosco's income from its dry bulk shipping arm was hurt by the lower Baltic Dry Index in H1.Income from dry bulk shipping was also lower because of a smaller deployed fleet of 10 bulkers after two vessels' charters were not renewed after expiry.'Any rebound in BDI may remain subdued as expansion in the global bulk carrier fleet is expected to outpace demand,' said the company..(.BizTime.)
When the door is closed, it will open another door.
When the eyes is closed, it will open another vision.
But not many want to close the door or close their eyes,
Because they afraid to let it go. They let their fear take control of their mind.
Warriors that win countless war is not afraid to fail or die, thats make them dragon among normal mans.
iPunter ( Date: 02-Aug-2011 22:52) Posted:
Not specifically referring to you,
but many people have died because of their averaging.
Their idea is to fight the market till the end.
On the other hand, there are very professional people
who routinely practise cutting loss as an art... 
Peg_li ( Date: 02-Aug-2011 22:27) Posted:
| if really go down to 1$, will buy another 100 lots to average, otherwise can't cover the loss! |
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Usually people sing this very same tune
till the very end...
They will love a stock " till eternity" , so to speak..
and keep praising it till their last breath....
Peg_li ( Date: 02-Aug-2011 22:55) Posted:
Just remeber that none of stocks always fall down and also none of stocks keep on going up.
The most important thing is not to lose confidence.
Peg_li ( Date: 02-Aug-2011 22:42) Posted:
I still got confindence to its' future in offshore business other than its dry bulk business.
It might be the top offshore company in china next 3 to five years.
Anyway, I don't think it will go down to 1$. it got very strong support at 1.37$ since 2 years ago if I remeber correctly |
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|
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Just remeber that none of stocks always fall down and also none of stocks keep on going up.
The most important thing is not to lose confidence.
Peg_li ( Date: 02-Aug-2011 22:42) Posted:
I still got confindence to its' future in offshore business other than its dry bulk business.
It might be the top offshore company in china next 3 to five years.
Anyway, I don't think it will go down to 1$. it got very strong support at 1.37$ since 2 years ago if I remeber correctly.
alexchia01 ( Date: 02-Aug-2011 22:35) Posted:
Why you still want board this sinking ship?
If I got money to buy another 100 lots, I would exit this ship and short it all the way down to $1.
You'll cover your losses faster this way.
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Not specifically referring to you,
but many people have died because of their averaging.
Their idea is to fight the market till the end.
On the other hand, there are very professional people
who routinely practise cutting loss as an art...
Peg_li ( Date: 02-Aug-2011 22:27) Posted:
| if really go down to 1$, will buy another 100 lots to average, otherwise can't cover the loss! |
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A much clever way, but not many know how to short well as their long is also gone case.
Sometime love is blind, cant blame them.
For me, i will cut lose long ago and whack other cute counter to earn back.
This ship maybe will sink for 1 to 2 month, be careful.
alexchia01 ( Date: 02-Aug-2011 22:35) Posted:
Why you still want board this sinking ship?
If I got money to buy another 100 lots, I would exit this ship and short it all the way down to $1.
You'll cover your losses faster this way.
Peg_li ( Date: 02-Aug-2011 22:27) Posted:
| if really go down to 1$, will buy another 100 lots to average, otherwise can't cover the loss! |
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|
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I still got confindence to its' future in offshore business other than its dry bulk business.
It might be the top offshore company in china next 3 to five years.
Anyway, I don't think it will go down to 1$. it got very strong support at 1.37$ since 2 years ago if I remeber correctly.
alexchia01 ( Date: 02-Aug-2011 22:35) Posted:
Why you still want board this sinking ship?
If I got money to buy another 100 lots, I would exit this ship and short it all the way down to $1.
You'll cover your losses faster this way.
Peg_li ( Date: 02-Aug-2011 22:27) Posted:
| if really go down to 1$, will buy another 100 lots to average, otherwise can't cover the loss! |
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Whao.. i would have used to money to go for dividend play. The safest in such uncertain time. Play with memstar, challenger etc now. Report card coming out and all have history of very good dividend. Memstar if follow the past probably will have yield of 7% at current price.
Why you still want board this sinking ship?
If I got money to buy another 100 lots, I would exit this ship and short it all the way down to $1.
You'll cover your losses faster this way.
Peg_li ( Date: 02-Aug-2011 22:27) Posted:
| if really go down to 1$, will buy another 100 lots to average, otherwise can't cover the loss! |
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