ShareJunction - Member Posts

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Hi wongmx6,

There is no hard n fast rules about cut-losses, the strategy varies depending on the risk/reward ratio and a person's risk-aversion level.

The strategy I used does not mean it is applicable to everyone as every individual has their own different threshold of pain.

Eg, 2 scenarios:

Scenario 1:

In a candle reversal pattern, if the candle close below the low of the candle b4 the peaking candle and the nearest support line is far down, I will exit instead of exiting when it breaks and close below the support, to minimise my risk.

Scenario 2:

In a candle reversal pattern, if the candle close below the low of the candle b4 the peaking candle and the nearest support line is quite nearby, I will exit only when it breaks and close below the support, as my risk is not tat great.

As I said, this is my strategy, so do not follow me blindly, as wat works for me may not work for u as I said, everyone has different threshold of pain., so dyodd n BOSAYOR.

wongmx6 ( Date: 15-Aug-2009 06:56) Posted:

Hi Richtan,

I'm aware that in your post you have talked about cut losses.

Can you please kindly share, What kind of methods that you are using to cut losses....?

Thanks

richtan ( Date: 15-Aug-2009 01:20) Posted:

richtan ( Date: 04-Jul-2009 22:21) Posted:

Hi XXXXX,

I hope u dun feel offended with my sharing, this is just my opinion and advice as everyone has their own trading style, I sincerely hope my sharing will help u n benefit u.

It is my firm belief tat there is no easy way out in life, including trading, we need to learn the tools of the trade (be it any trades) be it FA or TA or both as I had posted in this forum sharing my folly when I 1st step into trading, taking the easy way out n wise up after making hugh losses, do a search on my name n read it.

Personally, I m both FA n TA with more inclination towards TA.

FA wise, I read broking houses writeups, CNA interviews of analysts, forum, bloomberg... blah...blah...blah... just to get a feel of the mkt as I m sure after listening/reading so many analysts views, we tends to get confused at times as there are conflicting opinions n views, so at the end of the day, I still stick to TA as my tools for my trading decisions, though it is not infallible.

We need something to guide us when we tread this minefield of trading, so TA is my compass n guiding light (though it is not infallible, thus the need to set cut-loss point) just as satellite navigation is the guiding light to planes n ships.

Depending on your inclinations and whether u seriously want to learn TA, I had made many postings sharing my advice, recommended a few good TA books ( u can also search bookstores for some good TA books) n "Free TA Tutorial" websites n expert TA analyst website, click on my name n search n read thru them all n read as many TA books and money management books, it will definitely stand u in good stead.

Making losses is part n parcel of trading, thus why I always remember by heart n abide by the 3 mantras I learnt from TA books:

(1) Remember, the trend is your friend, never, never go against the trend, we need to know the short-term, mid-term n long term trend n trade accordingly

(2) Plan your trade n trade your plan, which means we need to analyse the chart for buying opportunities (TA skills needed, though not infallible) n set out stop-loss point b4 enter a trade

(3) Cut losses short n let profit runs with trailing stops, we need to let profit runs as much as it can to cover all the losses made n yet make net gains. When we hit the cut-loss, never be emotional, be mechanical, immediately exit n never regret even if later it goes up bcos if dun cut, wat if it continues to go down, preserving ammunition to fight another day is the key. We can always re-enter if there is another buy sign candles, even if buying at a higher price.

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In another words, trade like a hermit.

smartrader ( Date: 16-Aug-2009 00:12) Posted:

Warren's guiding principle.. he will buy stocks when people are not buying.. when he sees people are greedy rushing in, he will start selling.. that's why he can always maximise his gains from the bottom price till the top, especially, he can go in big volume.

knightbridge ( Date: 15-Aug-2009 20:08) Posted:

Hi risktaker, not need to try to explain to people of good stock to hold.. If they listen and they make, their business i dun make a single cent.. If they lose, i dun lose a single cent but get curse by them...

The only objective is to make money for oneself in investment.. If one dun sell me the stock at a lower price, i cannot sell at a higer price. If no one buy from me at a higher price, i cannot profit from it also. If u think will be $2 in the future, just avg and buy up all the way...

I also vest in midas, in march to apr i ask my family friend and relative to buy midas after doing my homework.. They say risky, times are so bad... I say china stimulus package midas 50% sure to benefit some more buying new factory... none buy also.. Now at 90 they are interested... Human are so funny, when nobody wants at low price no one wants to buy.. When the price start to run people chasing after it... Just like property... (Understand human emotion can help in trading)

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Hi rachael,

U r most welcome. we r here to learn from each other, hope I too can learn from u.

Personally, I hold a maximum of not more than 3 counters, all must be with good FA (1st criteria, a must compulsory) as wat people, good durian, one or 2 is good enuf, for me, 3 is good enuf.

I think u r refering to Straits Asia right, which I m still holding , trading in n out though I dun post often there nowadays as time is a real constraint to me.

rachael ( Date: 15-Aug-2009 23:56) Posted:

Thanks Richtan & Ristaker for your advise to a newbie, have taken note to invest in 2 counters...but as for now i will still hold onto my 30lots here. I have confidence in midas even now Bintang has also given his comments here.

btw,Richtan,I have learnt my lesson and what you have thought me at Straits Trading counter so will not repeat the same mistake again...once again, thank u

richtan ( Date: 14-Aug-2009 18:44) Posted:

U r right, sorry tat I did not elaborate further

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Hi Bintang,

I m really so sorry, I m not trying to be funny with u but I tried real hard following your descriptions and tried to trace

it on the weekly chart but still failed to see any inverse H&S and still dun get wat u mean.

I hope u can kindly try to post your chart analysis as a picture tells a thousand words, never mind, no hurry, take your time.

I thank u in advance n sorry for inconveniencing u.

Bintang ( Date: 15-Aug-2009 08:47) Posted:

Hi richtan , thank u again for your posting of the wonderful chart for me , obviously it looks like a big cup . Please if u can go to the weekly chart , I draw a straight line jointing the share price on 12/12/08 to 3/7/09, we can see clearly that this line has stopped the upward movements for months , n the volume done was larger from May to Jul compare to the months before May n after Jul . So this is more or less comply to the condition of the H&S pattern . The only thing to confirm the pattern is the break-out of the line with huge volume . This is only my opinion , can you give me your valuable advice , thanks .

richtan ( Date: 15-Aug-2009 00:15) Posted:

Hi Bintang,

U are most welcomed, I too learnt a lot from your postings.

No problem, take your time, no urgency.

Are u refering to the cup tat I mentioned, if it is I post below the cup pattern for your info, correct me if u think I m wrong.

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These are those without foresight, follow herd instinct, last to get in and first to mati

knightbridge ( Date: 15-Aug-2009 20:08) Posted:

Hi risktaker, not need to try to explain to people of good stock to hold.. If they listen and they make, their business i dun make a single cent.. If they lose, i dun lose a single cent but get curse by them...

The only objective is to make money for oneself in investment.. If one dun sell me the stock at a lower price, i cannot sell at a higer price. If no one buy from me at a higher price, i cannot profit from it also. If u think will be $2 in the future, just avg and buy up all the way...

I also vest in midas, in march to apr i ask my family friend and relative to buy midas after doing my homework.. They say risky, times are so bad... I say china stimulus package midas 50% sure to benefit some more buying new factory... none buy also.. Now at 90 they are interested... Human are so funny, when nobody wants at low price no one wants to buy.. When the price start to run people chasing after it... Just like property... (Understand human emotion can help in trading)

risktaker ( Date: 15-Aug-2009 15:42) Posted:

Well, keep on explaining and spoon feeding information is kinda tired why people dont go research ? and observe the market so that you can feel it like your own pulse. I have to go out attending party. Maybe I will reveal it today when i get back.

I am 100% sure this share worth over $2-$3 easily.

x 0

Slow but steady, dun get heart attack, durian "pow chia" wan

Livermore ( Date: 15-Aug-2009 20:26) Posted:

For me the problem with this stock is it moves too slow.

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I fully agree with, without any slightest doubt tat Midas is indeed a gem, an yet unpolished gem to reveal its true lustre.

With China's stimulus infrastructure spending, more contracts are coming.

risktaker ( Date: 15-Aug-2009 21:34) Posted:

I understand that :) right ..... similar experience i had.

In 2008 - I did some investment after some research

vested GoldenAgri @ $0.18
vested IndoAgri @ $0.48
vested AusGroup @ $0.11
vested Oceanus @ $0.18
vested ChinaEnergy @$0.11
vested ChinaSports @$0.14
and many more. But what did my family and friends tell me when I buy they say its too risky... different people see different things.

All i say now is truly base on my FA and Midas is truly a GEM. It will rock up very soon :) Believed or not. Time will tell. Remember to Buy & HOLD :)

knightbridge ( Date: 15-Aug-2009 20:08) Posted:

Hi risktaker, not need to try to explain to people of good stock to hold.. If they listen and they make, their business i dun make a single cent.. If they lose, i dun lose a single cent but get curse by them...

The only objective is to make money for oneself in investment.. If one dun sell me the stock at a lower price, i cannot sell at a higer price. If no one buy from me at a higher price, i cannot profit from it also. If u think will be $2 in the future, just avg and buy up all the way...

I also vest in midas, in march to apr i ask my family friend and relative to buy midas after doing my homework.. They say risky, times are so bad... I say china stimulus package midas 50% sure to benefit some more buying new factory... none buy also.. Now at 90 they are interested... Human are so funny, when nobody wants at low price no one wants to buy.. When the price start to run people chasing after it... Just like property... (Understand human emotion can help in trading)

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Golden mantra number 1:

"The trend is your friend" - dun fight against the trend, dun surf against the onslaught of the incoming ocean waves, sur to die wan.

Livermore ( Date: 15-Aug-2009 20:34) Posted:

Just follow the trend

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My advice is only read analyst report on the FA of the counter but dun follow blindly their buy/sell call, dyodd n ownself analyse the chart..

ronleech ( Date: 15-Aug-2009 15:42) Posted:

Something i noticed...when analyst ask to buy, normally that counter would have shot up high high already...and when they call for a sell, that counte rmay have already been sold down to a low low price..... Analyst and history is not always right but they do have their credit...just keep yourself alert

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U r right, tats is wat I always emphasise, never pre-empt, always wat for EOD confirmation as intraday can be a fake.

Back2Basic ( Date: 15-Aug-2009 16:17) Posted:

It is better not to pre-empt the market, because the market will move its way. Better to focus our mind on the actions to take when the action happens. What action when it continues to go up and what action when the market comes down...

Remember: Those who have knowledge, don't predict. Those who predict, have little knowledge - Lao Zi - The wise act only after observation, and they act fast.

-Safety First-

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Hi dionnazhao,

I had previously created a thread under "General", "Trading Techniques", "Learning TA"

I had just compiled and created 2 more new threads for all forumers and especially dedicated to newbies under

(1) "General", "Trading Techniques", "Some recommended good Trading and TA books"

(2) "General", "Trading Techniques", "Advices to newbies"

dionnazhao ( Date: 14-Aug-2009 14:31) Posted:

ok. richtan.

may i know where can i find those TA book...

got chinese vision or not?

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Some recommended good Trading and TA books:

(1) Technical Analysis of the Futures Market by John Murphy (applicable to equities)

(2) Japanese Candlestick Charting" by Steve Nison.

(3) Candlestick Charting Explained by Gregory L. Morris.

(4) Trading for a Living by Dr. Alexander Elder.

(5) 7 Chart Patterns That consistently Make Money by Ed Downs.

(6) How To Make Money In Stocks (National Bestseller) by William J. O'Neil

(7) Market Wizards, interviews with Top Traders by Jack D. Schwager.

(8) The New Market Wizards, conversations with America's Top traders by Jack D. Schwager

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StraitsAsia / Straits Asia / Posted: 05-Jul-2009 12:42 4Go to Message

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Just my sharing with all forumers, prticularly to newbies.

Read today's Sunday Times,"Invest, pg 23", I quote in red:

"Watch Out for Scammers"

Point no. 3:

3. Pump and Dump scams.

These are typical conducted via an unsolicited phone call or e-mail. The scammer, who holds a stock, attempts to boost its price via false and misleading recommendations (the "pump") which are e-mailed to many people. The stock is often promoted as a "hot tip". Once there is a surge of interest from victims, the scammers sell the stock (the dump").

The victims lose their investments as the stock price falls. Such scams usual target thinly traded or small-cap stocks as they are easy to manipulate and it does not take many new buyers to push up the prices. To avoid being taken in, it is best not to rely on information you receive via an unsolicited source.

My comments:

(1) This is true not only via unsolicited phone call and e-mail but also in public forums, so be wary of wat u read and dyodd.

(2) It is also true tat scammers usually target thinly traded or small-cap stocks, but it is still okay to trade small-cap stocks if u dyodd using FA and TA. Knowing tat the stock has good fundamentals is not good enuf as u may get caught buying at a high price by the "pump" which is primed for corrections (the dump"), thus the importance of TA to know whether it had been pumped up (avoid buying and being caught) and instead wait for buying opportunities (during the correction) by studying the candlesticks and other indicators for reversal patterns.

x 0

Hi xxxxxxxx,

Just look at any stock charts and u will notice tat stocks dun go up in one straight line, bound to have profit-taking, corrections and consolidation.

To succeed in trading, I always said:

"Learn to master TA n u are the master of your own trades."

"Learn how to fish n u can fend for yourself forever, relying on tothers n forever u r dependent on others n at their mercy"

"There is no easy way n short-cut to success in life, including trading, all are own hardwork"

I had created a thread dedicated to newbies: "Learning TA" under "General", "Trading Techniques", where u can learn TA for free, of course u can also buy TA books, I had recommended a few, click on my nick to search for it n also read my past advices n my 3 golden mantras.

Take your time to read, dun rush, keep track where u started n stopped, not forgetting newer posts, remember "Rome was not built in one day"

x 1

richtan ( Date: 04-Jul-2009 22:21) Posted:

Hi XXXXX,

I hope u dun feel offended with my sharing, this is just my opinion and advice as everyone has their own trading style, I sincerely hope my sharing will help u n benefit u.

It is my firm belief tat there is no easy way out in life, including trading, we need to learn the tools of the trade (be it any trades) be it FA or TA or both as I had posted in this forum sharing my folly when I 1st step into trading, taking the easy way out n wise up after making hugh losses, do a search on my name n read it.

Personally, I m both FA n TA with more inclination towards TA.

FA wise, I read broking houses writeups, CNA interviews of analysts, forum, bloomberg... blah...blah...blah... just to get a feel of the mkt as I m sure after listening/reading so many analysts views, we tends to get confused at times as there are conflicting opinions n views, so at the end of the day, I still stick to TA as my tools for my trading decisions, though it is not infallible.

We need something to guide us when we tread this minefield of trading, so TA is my compass n guiding light (though it is not infallible, thus the need to set cut-loss point) just as satellite navigation is the guiding light to planes n ships.

Depending on your inclinations and whether u seriously want to learn TA, I had made many postings sharing my advice, recommended a few good TA books ( u can also search bookstores for some good TA books) n "Free TA Tutorial" websites n expert TA analyst website, click on my name n search n read thru them all n read as many TA books and money management books, it will definitely stand u in good stead.

Making losses is part n parcel of trading, thus why I always remember by heart n abide by the 3 mantras I learnt from TA books:

(1) Remember, the trend is your friend, never, never go against the trend, we need to know the short-term, mid-term n long term trend n trade accordingly

(2) Plan your trade n trade your plan, which means we need to analyse the chart for buying opportunities (TA skills needed, though not infallible) n set out stop-loss point b4 enter a trade

(3) Cut losses short n let profit runs with trailing stops, we need to let profit runs as much as it can to cover all the losses made n yet make net gains. When we hit the cut-loss, never be emotional, be mechanical, immediately exit n never regret even if later it goes up bcos if dun cut, wat if it continues to go down, preserving ammunition to fight another day is the key. We can always re-enter if there is another buy sign candles, even if buying at a higher price.

x 0

Wow!!! good story. Thank you for sharing this story.

As "Tan Ah Teck" said: The moral of the story, be alert like the birds as wat cheongwee said.

Never throw caution to the air, tats why, everyday without fail, after mkt close, I practice one of my golden mantras ie. i will review my stocks chart to "Plan my trade and trade my plan" the next trading day, ie should I or should I not take action, very mechanical, no emotion involved.

pasttime ( Date: 14-Aug-2009 15:34) Posted:

richtan san, greetings.

so the story continue.

buaya was always laying trap. buaya also caught birds that walk into its jaws.

buaya like to leave the dead bird by the side of the rivers and share it with the other animals. mainly the rats are interested. at first all the rats are cautious. each think... " where got so big bird laying for us to eat". then a more daring rat move forward and have a bite. yes it taste so good so it has another bite. the rest of rats saw the brave rat enjoying the feast and was very tempted. soon many other rats joined the feast of the chicken. and they eat and they eat and they enjoyed it and thank themselves for the good luck.

then suddenly the buaya appear from no where and swallow up a few rats together with the bird. the rest who was lucky not to be bitten quickly ran away. but those that were caught by the buaya it was the end. the rats enjoy the bird but in the end also pay their life as dividend to buaya for eating its bird.

the rats who survive learn a lesson. they know that the bird is not free. if they want to eat they will just have 1 quick bite and run. live to eat another day.

wish all a good day.

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x 0

Hi Bintang,

U are most welcomed, I too learnt a lot from your postings.

No problem, take your time, no urgency.

Are u refering to the cup tat I mentioned, if it is I post below the cup pattern for your info, correct me if u think I m wrong.

Bintang ( Date: 14-Aug-2009 23:38) Posted:

Thank u richtan , u r so knowlegable n helpful , u not only pointed out my mistakes , but also taught me alot of TA knowledge . There is some problem for me to post my chart , I will try again. From my chart which is using metastock , I could see clearly the H&S pattern , but from your angle , you have different viewing . But no problem ,tan , I will take your advice , n learn to find the pattern you 'd mentioned . Thank u again .

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No New Normal JPMorgan Sees V-Shaped Recovery on Robust Growth

Share | Email | Print | A A A

By Steve Matthews

Aug. 14 (Bloomberg) -- Instead of a so-called New Normal of subdued growth, the U.S. may be heading for a robust recovery.

The worst recession since the 1930s has created a reservoir of demand that will buoy the economy, say a growing number of economists led by James Glassman at JPMorgan Chase & Co., former Federal Reserve Governor Laurence Meyer and Stephen Stanley at RBS Securities Inc.

“Whenever we have plunged off a cliff and fallen into a deep hole in the past, for a while the economy has a tendency to bounce back very quickly,” said Glassman, a senior economist at JPMorgan in New York. Glassman and his colleagues this month said forecasts of 3 percent to 4 percent growth in coming quarters may be too low given “pent-up” consumer demand.

JPMorgan’s outlook contradicts the view popularized by Mohamed El-Erian at Pacific Investment Management Co. that elevated unemployment and record wealth destruction will keep growth at 2 percent or less for years. The divergence highlights the dilemma for policy makers, who must decide whether to maintain record fiscal and monetary stimulus or begin to pull back and prevent a surge in inflation should growth accelerate.

El-Erian, chief executive officer of Newport Beach, California-based Pimco, said “the indicators we follow continue to point to sluggish medium-term growth in the U.S.,” when asked to respond to arguments for a so-called v-shaped recovery.

Retail Sales

Retail sales figures released yesterday indicated that consumers have yet to ramp up spending. The Commerce Department said purchases fell for the first time in three months, by 0.1 percent. A Labor Department report showed 558,000 Americans, more than forecast, filed claims for unemployment insurance last week; the U.S. has lost 6.7 million jobs in the recession that began in December 2007.

The New Normal theory predicts that the recession will leave unemployment, forecast to reach 10 percent for the first time since 1983 early next year, higher for years. Glassman and Meyer dispute that.

“The thing I object to most about the New Normal idea is that we are stuck and have to accept higher unemployment --if you look at the Fed, they are doing everything they can to fight it,” said Glassman, who formerly worked as a Fed economist in Washington.

Meyer’s Projections

Meyer, who served as a central bank governor from 1996 until 2002, said he and his colleagues “don’t find any evidence” that the unemployment rate consistent with stable inflation is now higher. Meyer is now vice chairman of St. Louis-based Macroeconomic Advisers LLC, whose economic estimates are monitored by the National Bureau of Economic Research panel charged with dating U.S. recessions.

Meyer expects gross domestic product to jump by 3.6 percent in 2010 and 3.9 percent in 2011. Annual growth surpassed 3 percent only once so far this decade, in 2004, and has averaged just 2.2 percent.

“The big driver of that is home prices,” said Meyer, referring to his recovery forecast. “If home prices stabilize, that is a tremendous boost to housing that dominates every other variable in our equation. There is a lot of pent-up demand in that particular area.”

Home construction has subtracted from GDP growth for a record 14 straight quarters through June 2009. Consumer spending has also dropped in four of the past six quarters, and is down 2 percent from its peak in July-to-September 2007, the biggest retrenchment since 1980.

‘Very Depressed’

Housing and automobile sales are at “very depressed levels” and are likely to contribute to growth even if they don’t reach prior peaks, said Stanley, chief economist at RBS Securities in Greenwich, Connecticut, who used to work at the Richmond Fed.

“Consumers are holding off on practically all of their discretionary purchases,” said Stanley, who sees the expansion picking up from 2.9 percent next year to 4.4 percent in 2011 and “about” 3.5 percent in 2012. “There is a lot of pent-up demand.”

Recoveries from the past two recessions were weaker than in previous decades. After the 2001 recession, the economy expanded just 1.6 percent in 2002, picking up to 2.5 percent the next year. The 1990-91 recession was followed by 3.3 percent growth in 1992 and a 2.7 percent gain in 1993.

By contrast, the U.S. roared out of the 1981-82 recession. In 1983, GDP rose 4.5 percent, accelerating to a 7.2 percent pace in 1984, when Ronald Reagan won re-election with victories in 49 of 50 states.

Blinder ‘Skeptical’

Alan Blinder, the former Fed vice chairman who is now an economics professor at Princeton University in New Jersey, has described himself as “skeptical” of the New Normal scenario.

“To accept a 2 percent trend, you have to believe in about a 1.2 or 1.3 percent productivity trend -- I don’t,” Blinder said in an e-mailed response to questions. He added that he sees growth sustained at “closer, but not quite, to 3 percent” in coming years.

Fed policy makers in their latest projections submitted in June anticipated an expansion of 2.1 percent to 3.3 percent from this year’s fourth quarter to the same period next year and 3.8 percent to 4.6 percent in 2011.

Chairman Ben S. Bernanke and his Federal Open Market Committee colleagues two days ago said the economy is “leveling out.” The central bank has pumped about $1 trillion into the banking system in a campaign to end the crisis, triggered by mortgage defaults, that has caused more than $1.6 trillion in losses and writedowns among financial firms worldwide.

Victory Call

President Barack Obama last week said: “We are pointed in the right direction,” in remarks at the White House. “We’ve rescued our economy from catastrophe.” The administration anticipates a gathering impact from its $787 billion fiscal stimulus into next year.

Some companies are also seeing signs of a turn in the economy.

Karen Hoguet, chief financial officer at Macy’s Inc., the second-biggest U.S. department store chain, said on a conference call Aug. 12 that the Cincinnati-based company is “cautiously optimistic” its sales trends will improve.

A rebound in equities in recent months will help repair households’ balance sheets and buttresses the outlook for spending, said Glassman at JPMorgan.

The Standard & Poor’s 500 Stock Index has climbed about 50 percent from its low in March. U.S. stock-market capitalization has increased by almost $4 trillion in that time.

Economists’ Forecasts

Economists this month lifted their projection for third- quarter growth by 1.2 percentage points to 2.2 percent compared with July, according to the median of 55 forecasts in a Bloomberg News survey. That is the biggest such boost in surveys dating from May 2003. Forecasts for 2010 were raised to 2.3 percent from 2.1 percent.

Neal Soss, chief economist at Credit Suisse Group AG in New York, played down concern that the economy may suffer a “double dip” recession.

“Historically these double dips are routinely forecast and actually very rarely come to pass,” Soss said in a Bloomberg TV interview this week. “Once the economy tends to get some upward momentum, it tends to keep going that way.”

To contact the reporter on this story: Steve Matthews in Atlanta at smatthews@bloomberg.net. Last Updated: August 14, 2009 00:01 EDT

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Very hard to say, it may or may not drop, if drop, most probably drop to the 25ema, imo.

Personally, if it closes below the 25ema for 2 days continuous, I will exit (as one day close below it could be a fake n may the next day pull up above it to fool and shake out those weak holders),

Anyway, this is jmo, not a call to sell, dyodd n BOSAYOR and dun follow me blindly as everybody has their own strategy..

bennykusman ( Date: 14-Aug-2009 22:45) Posted:

dow jones drops a lot.. will this share drop also ?

m0shii ( Date: 14-Aug-2009 21:13) Posted:

wonder next week what be the price.....hopefully at reach $0.98 by nxt fri

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Hi Bintang,

U r warmly welcome to Midas Land, the land of the midas touch.

Firstly, lets Smiley Smiley together.

I truly appreciate your dropping over to visit us and share n look forward to your future visits.

Dun worry, we are here to share n exchange pointers.

Likewise, feel free to point out my mistakes, I m very receptive and open-minded.

Pardon my ignorance, as I tried to locate the large inverse H&S but just couldn't figure it out.

Could u kindly post yor chart analysis to share as a picture tells a thousand words, I thank you 1st.

But I could see a huge cup in formation, with the brim of the cup at around 1.19 and yet to form the handle.

The handle will start forming once the brim of the cup is reached, first with a downtrend followed by the

explosive upward formation of the handle (look at Straits Asia, now forming the handle of a smaller cup with a

bigger cup yet to form, to get wat I mean)

Correct me if I m wrong, ADX normally will turn up faster for energetic sprinter but Midas is more like a

middle-age man clinbing up a flight of stairs, slow but steadily and gently upwards, with pause in betweeen n

falling down occassionally but managed to stand-up on his feet n continue to climb.

Looking from my ChartNexus Midas chart with 14RSI, it is now about 60, above the average strength of 50,

not too hot and not too cold, but of course, I m not saying tat if it is too hot, it will definitely cool down bcos

I know, wat is hot can be even hotter n vice versa.

Bintang ( Date: 14-Aug-2009 19:36) Posted:

Hi, richtan , this is my opinions on Midas , point it out if I m wrong . Thank u . Midas is forming the right shoulder of its large inverted H&S pattern . It has dragged for more than 3 months to form the right shoulder , both the ADX n RSI do not turn up with the increasing volume . So in the near future , the volume done is the key factor to push the share price across the neckline at 91 cents , then the share price could move up smoothly with the rising of both ADX n RSI . From the breakout point at 91 cents , I could get the minimum target of $1.28 . Richtan , this is the first time I give my comment on Midas , correct me if I m wrong , thanks !

richtan ( Date: 14-Aug-2009 19:06) Posted:

Posted: 14-Aug-2009 11:49 Contact richtan * Quote this Post!

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x 0

* Alert Admin

Below is my chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments and plse do not be so childish or lunatic as to abuse the

rating system by rating it as "bad post", accumulating for yourself and your

next generation, "bad" karma for your "bad" deeds.

If u think it is a bad post, then be constructive and kindly post your TA for sharing.

Smiley

Just wondering aloud, sweet dreams, it is dreams tat motivates us