19 July 2013

Fishing is a constant reminder of humility and human frailty for all men are equal before fishes - Herbert Hoover. This goes the same with stocks. Lesson for today is never think you are too smart to make mistake or will never be wrong in your judgement. This adage is equally applied to the advice you get from experts. The differences between the experts and the non are the experience they have that separates them with the rest and also their willingness to cut losses or follow others when they are wrong. 

The day started with keying in to sell tmclife by queuing  in to sell at 0.435. I keyed in before anyone does and in hope they will take some of my portions when they try to push the stock into positive territory. I was wrong and the most they did was unchanged at 0.43. I should have sold it there and save the frustration of having to monitor the counter. It cleared the buy queuing at 0.43 and steadily went to 0.42 till closing. I then sold maybulk at 1.87 when I see it didn't have strength to go any further. It is a wise decision as it went down to 1.81. Redtone was sold at 0.785 where the highest it went to was 0.79. The warrant was sold at 0.53. They went a few cents down from there till closing. The stocks that I held was Malton and its warrant until late afternoon. Malton went to 0.92 and I was hesitant to sell hoping it would run up in the evening. It didn't touch above the level and went further to unchanged before I sold them there. warrant didn't reach unchanged at 0.44 as stayed steadily at 0.445. the mother share went up after my sale to 0.91 and its warrant followed through to 0.45. right before lunch, it was flimsy and i sold all my shares in the warrant at 0.445. 

In the morning, my mind was kept occupied by Uems and I thought they will shift their attention to uems after tebrau dropped from yesterday's high. I was wrong. It went to 1.15 in the morning and some of my colleagues bought at 1.14. I did not hesitate to buy 10 lots there. it went down from there to close at 1.06. This is one of the worst mistake to make and to enter so early with too much to hope for. another mistake was going into thheavy. I knew this counter will be difficult to engage in but believing in my colleague who are confident it will move up with a news in the weekend, I was also tempted to try 50 lots at 0.965, day's high where some of them went in. it went earlier after lunch to that level and i hesitated to enter before it came down to 0.95. it went up again after that before i moved in with my other colleagues. it was proven wrong and it went down to 0.95 where i bargained another 60 lots. it then went down further to 0.945 where i sold them there. in the closing moment, just like yesterday, a new hope emerged with redtone ran up in almost straight line and I went in 50 lots of its warrant at 0,535. i was hesitant to enter the mother which at that time was 0.785. after that, it went to 0.8 while the warrant moved to 0.55 where i entered another 50 lots. in the closing, i moved in another 100 lots to make it above the minimum requirement for half of the commission. 

Yesterday's trading wasn't profit as expected. with commissions included, i still lose 100. it is therefore important to buy above the requirement to reduce the commission so that trading can be easily turn to profit. To do that, i have to learn to focus and make razor sharp decisions. one of the counters that are good which i missed today was  ytlpower. It went up 0.06 but due to the history of the counter, I dare not engage in it. Sersol was the other counter that worth mention. It wentup 0.02  to 0.30 without me noticing it. my colleague who is sharper bought 100 lots and it went straight to 0.325 where he sold it. Another strong counter was Encorp as it went up 0.20 today. it came up without volume in the morning to 0.82 where my colleague bought 20 lots. it doesn't have buyer and went down to 0.76 before lunch where he sold them there. after 3pm, it steadily came back up where another colleague started to accumulate at 0.82. it is difficult to do as it does not have much volume. I was hesitant to move in as the counter does not have much support. it went to a high of 0.90 and closed there. A&M was the other that grabbed some attention today. my colleague saw that counter and noticed it was at its all time high at 1.17. he bought it there. it went to close at 1.2. 

Monday, I will have to first sell redtone warrant, hopefully at profit. It it is as good as this morning, where it opened jump bid, I can wait a little longer. if it doesn't or even move into negative, io will sell it all lightning fast. i hope uems will move up to 1.10 before i can cut losses. in any event it drop further, i will sell it also. same goes to tmclife.