16th July 2013

The lesson learned today is that trading success should be based more importantly on the number of winnings than trying to strike counters that move up ferociously. The number of losses that hit you while you try to strike one will damage you more than the winning you get from the up counters. When you buy a counter early in the morning, it is important to sell it at profit than to wait for it to move up higher in the evening. Most of the counters will retreat to your level or level below you later in the evening.

Previous day, I bought 10 lots of Puncak at 2.64 after it moved up 0.20 at the closing price. Today, i sold  the first 5 lots out at 2.76 right after the opening and waited for it to run up within 15 minutes before selling it at 2.91 after it came down from the high of 2.97. When it retreated to 2.82, i bargained 5 lots at 2.86 after it came back up. it then went up to 2.89 but i didn't sell in hope that it will go further up. It came down to 2.81 where i sold all, which i should have done at 2.84 but hesitated after seeing it has many buyers. I was reading something online and missed the selling at 2.84 at split of a second. Another counter I bought yesterday was 50 lots of TAS at 0.64 where it closed at 0.645. it opened unchanged in the morning without buyer. I wanted to wait for it to rebound but it dropped further to 0.64 down to 0.63 before came back up to 0.635. I sold 30lots there and decided to wait for it to rebound before I sell the rest. I have to admit I misjudged this counter as i thought it was strong based on previous prices where it came up from 0.30 to this level without much volume and thought it will go further up. It didn't happen.
 
All counters I trade intraday today was at loss, most significantly was Eastland where I tried to bargain 20 lots at 0.855 after it came down from 0.875. It was a superstar counter previously, hitting twice limit up from 0.40 to 1.30 highest before coming down after it announced that a major speculator, a son of PM, denied he is interested to buy a stake in the company. It came up from 0.74 yesterday before moving up to 0.815. my colleagues who bought at 0.82 unloaded all at 0.83 before reentering twice at 0.86. it came down hard in a few seconds to 0.82 before i unloaded them. it closes at 0.615 today. Scomies went up today in the morning from 086 right up to 0.95 before it retreated to 0.915 where i bought 20 lots. This counter went up last week at high of 1.00 where I bought 120 lots at 0.905 before closing at 0.98. with such a huge buffer, I did not worried that i will lose money on this counter but I did. After the purchase at 0.915, it went down to 0.905 where I sold them. It again went up at I bought again 20 lots at 0.91 because someone told me today it will close at 1.00 and it held at a price of 0.915 until 11am. once it touches 0.905 again, I sold all of the counter. it closes at 0.88.

In the evening, many counters moved up but only a few significantly. Magna went Limit up at 1.18 but closed 0.02 below that price after it was queried. The counter was 1.01 at lunch time where it came down from 1.05. I wanted to enter the counter but was afraid that it had no buyer to support at lower prices. The other was THHeavy and its warrant which went up 0.60. At 0.90 I wanted to enter the counter but did not as it moves slowly up and retreated back to the price from 0.91 before closing back up at 0.915, 0.06 up. I instead bought Sendai, 10 lots at closing price of 1.69 after it went up 0.15 in hope that it will move like puncak. The other counter i bought was 50 lots of Sycal at 0.665 after my colleague recommended it so strongly which they entered at 0.67. It closed at 0.66. I done mistake on this counter where I intended to enter 50 lots but keyed in 100 lots instead. After a swift realisation of my mistake, i sold off the 50 lots at 0.665 losing only commission. The other counter I bought was Gadang. It stayed at 0.89 to 0.90 for a few weeks where it retreated from 0.95. I sensed that it has upside after so long of absorption of scripts. I tried 20 lots at 0.955 but only done 10 lots without me realising it. I cancelled the rest and it went up to a high of 0.985 before retreating to 0.955 until i realised that I did purchased 10 lots. I wasn't panic as it stayed there quite strongly at closing hour and believing that it is going up after the long absorption. At closing price, I entered another 10 lots making it 20 lots altogether. The least confidence I have in today's stock is sendai, being neutral is Sendai and quite confidence is Gadang. The counter I missed is Inari where it continued its uptrun from yesterday to close another 0.05 at 0.855. I wanted to buy Benalec at 1.44 where it is moving upwards after a strong absorption of stocks at 1.35 where its high was 1.50 above. 

Tomorrow I will have to monitor Benalec and Magna