18 July 2013

Yesterday losses was over 1000, most of which is due to my mistake. I have to learn to preserve profit and don't take unnecessarily risk. Lesson today is that once you have accumulated losses, your confidence will be shattered and without confidence, you will not make profit. it is a cycle. when you make consistent profit, you will be more focus and accurate in your decision making. after chopping all the counters this morning, i came to know that my profit was only a few hundred, not enough to cover the losses. therefore, it is important to note that in not too bullish market, it is not easy to make profit and you have to be extra careful, not accumulate too much losses and take profit however small it is. during bad market where trading is impossible, it is best to stay away. go crazy only during bullish market where many counters will run up in the hour before market closes. 

It was another example of volatility in the morning but quiet in the evening today. It started with hectic selling as 2 of the counters I bought yesterday went red. Those are big counters above 1.0. Without hesitation, I keyed in Perdana sell 1.96 in the opening which it done at 1.97, while i keyed warrant  sell at 0.92 in the opening which was done at 0.935. the counter did not move to positive territory in the whole morning and the price i sold was the highest in the day. Muhibah was also in the red and i keyed in 2.46 at the opening. it went down to 2.44 but quickly went up to 2.48. I waited for it to go up to turn positive but it didn't. I then sold all of it at 2.47. I then turned my attention to chopping cliq and cliq warrant. the mother i sold at 0.775 after it dropped from 0.785 because I wanted to sell it at positive territory and another bid down will be unchanged. I sold its warrant at 0.49. The warrant stayed around 0.48 until later in the evening which it ran up to 0.51 although the mother didn't move and stayed 0.01 above yesterday's closing price. the warrant came down to close at 0.495. Lastly, I sold TDM at 0.855 after waited for 30minutes. It went up further to 0.875 in the evening but not as fierce as it did yesterday

The counter that won the most attention in the morning today was Sumatec. It ran up after few minutes of opening bell up to 0.30. My colleagues went in at that price, and it did come down to 0.295 briefly before settling at 0.305. some of my colleagues sold their shares there. it went up again to 0.34 and stayed there till after 10am. Its warrant went to 0.16 where a large block of shares were queued by my colleague's client to sell. after about an hour, the shares were all taken up and it went steadily to 0.18 while the mother stayed at 0.34 where i bought the mother at the closing price. The other counter that went up in the morning was Malton. it has been staying at 0.83 level for over few weeks after it came down from 0.97. I bought 30 lots at 0.88 of the shares and 50 lots of its warrant at 0.43. the mother stayed between 0.89 and 0.90 for the rest of the day while its warrant stayed at 0.44 and 0.45 level. I bought another 20 lots of malton at 0.895 later in the afternoon after seeing its upward strength. It didn't move far above that level after that. TMClife came to life at around 12 noon where it went up to 0.435. My colleague went in at 0.425 but i was hesitant to play this counter as i knew it was a tricky one. I was right. it came down to 0.415, 0.42 but went up shortly to 0.435. i couldn't comtrol my excitement and went in 50 lots at that price which proves as a mistake. it went down to 0.425 and stayed there till it closed at 0.43. Maybulk went up in the morning quietly and slowly to 1.78. I did not notice it until after lunch. it turned aggressive after that and went straight to 1.83 but came down to 1.80 where i tried to pick up 10 lots. I was slow and missed it. it stayed at 1.81 to 1.83 for about an hour before going up to 1.86 but came back down to 1.84 where i bought 10 lots. it hovered around 1.83 before closing at 1.85. Redtone stayed still at 0.74 in the whole morning. i monitored the stock but not interested in it. right after lunch, it went to 0.75 where i heard news that it will go to 1.0. i did not believe the news but keep a watchful eye on the counter. it ran up during the closing where it closed at 0.765 which i bought 30 lots. the warrant i bought earlier at 0.505 after seeing the mother moves but it stayed there. it closed at 0.51. 

strong counter that i missed today was tebrau. it went from negative territory at 1.46 to close at 1.53. I wasn't interested in tebrau but was watching the leader of the pack uems,which proves to be a mistake. uems did not move this time but tebrau did. next i have to keep an eye on uems. the group is active now.