morning friends, i was waiting eagerly for the breakout to happen this morning in SGX but it HAS NOT materialize based on the breakout trigger points which i mentioned for some of the singapore stocks that i like such as ferrochina, china xlx, china hongxing, sino environemnt.

again, i have shared this point before, i do not trade for the sake of trading but would strive to trade “correctly” ie i have to follow the technical analysis signals or rules as close as possible.

since there are no breakout buy signals……i will not enter any position and will relax for now.

one interesting point i would like to share is that hangseng index has been staging after lunch rebounds quite often lately…..let’s see if that may happen again today around 3pm!

cheer

rooney

Singapore stock market quick bytes 3rd sept

It’s been awhile since i last saw a potential group breakout signals for SGX……and i see them coming today after the singapore share market closed on 2nd september. Some of the singapore stocks that i like include :

based on MACD technical indicator signal

sino-environment - breakout trigger at 1.18

ferrochina - breakout trigger at 0.92

chinaxlx - breakou trigger at 0.555

i would look to long when prices go 1 bid above the breakout trigger and set cut loss at 2 bids below the breakout trigger

the good news is that apart from this 3 stocks showing potential, many other stocks also showing rebound signals which i would consider as “group” breakout potential signals…..enough to get me excited

happy hunting

cheers

rooney

sino-enviroment

I am only human so that means sometimes I succumb to “temptation” when it comes to trading stocks.  By that, I do not mean a sexy remisier calling me to place orders with her la.

Recently, I traded some stocks ahead of the results season in the Singapore stock exchange. The net outcome was Breakeven as I have entered the first batch of positions prematurely BEFORE the trigger breakout signals present themself and had to cut loss as the stock price retreated.  The circumstance surrounding the entry decisions was that the market has been down a few days and then regional markets rebounded in the morning, so i naturally ASSUME that the stocks i am monitoring would also follow suit.  Actually there is nothing wrong with this assumption as long as i am aware of the potential risk and prepared to cut loss if i am proven wrong……which was the case.

During the subsequent sell down of stocks in singapore stock exchange, i was more determined to wait out for the buy signals to be triggered. This time, I would be rewarded with some trading gains…..some of my recent trades were posted here:  http://mojostock.com/forums/forumdisplay.php?f=33

And when the results seasons come to an end for the singapore share market, I have closed all my positions once the results season “window” period is over. I ended this round just about breakeven after closing all positions.

As i look at the recent trades, the bad ones were the ones which i entered “in anticipation” of a breakout.

So last Friday as i did my homework, the chart for Ferrochina looked “tempting” again……but this time round, i have decided NOT to anticipate the breakout even though US and Japan stock markets had performed strongly prior to the opening of the singapore stock market.  As i mentioned last week, the breakout trigger for Ferrochina is 1.03……and this morning the highest done was 1.02.  Had I tried to anticipate the breakout and entered prematurely, it would have ended up being a bad trade as it has fallen back to 0.98….and in the process triggered the cut loss point.

This incident reminded me the importance of being disciplined and having patience to wait for the fish to come around……

rooney