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No need to "u see lor", as I said, I trade mechanically not MFT n emotional, I dun fall in love with any particular stock, will sell tomoro if today close below 15 cts, as simple as tat, whether in profit or losses, though I m still in profit as I had accumulated around 7 cts when it rebounded from the low of 0.055.

newtothis ( Date: 15-Jun-2009 12:21) Posted:

:) You see lor

richtan ( Date: 15-Jun-2009 11:24) Posted:

Ooops, typo error, should be "Rule number 1 of trading"

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Ooops, typo error, should be "Rule number 1 of trading"

richtan ( Date: 15-Jun-2009 11:23) Posted:

Rule number of trading, dun be MFT n try to pre-empt the mkt by saying it will go down to 0.11 - 0.13 b4 it even close below 0.15 at end of today, let the mkt talks to u thru the chart n act accordingly based on end of day closing as intraday can be a fake attempt to shake out those panicky, it could possibly form a reversal candle with a hammer (longer tail).

I believe for those with holding power n who are now incurring losses but can stomach losses till it confirmed end of day it closes below 15 cts, should stay calm for the time being n cut losses tomoro if it closes below 15 cts today.

To be successful in trading, remember trading should be mechanical, act according to your chart interpretation n not emotional.

This is only my opinion, not an inducement to buy or sell, dyodd.

newtothis ( Date: 15-Jun-2009 11:09) Posted:

sigh..... if you make profit already my suggestion is sell.

China Hongx will go down to 0.11 - 0.13

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Rule number of trading, dun be MFT n try to pre-empt the mkt by saying it will go down to 0.11 - 0.13 b4 it even close below 0.15 at end of today, let the mkt talks to u thru the chart n act accordingly based on end of day closing as intraday can be a fake attempt to shake out those panicky, it could possibly form a reversal candle with a hammer (longer tail).

I believe for those with holding power n who are now incurring losses but can stomach losses till it confirmed end of day it closes below 15 cts, should stay calm for the time being n cut losses tomoro if it closes below 15 cts today.

To be successful in trading, remember trading should be mechanical, act according to your chart interpretation n not emotional.

This is only my opinion, not an inducement to buy or sell, dyodd.

newtothis ( Date: 15-Jun-2009 11:09) Posted:

sigh..... if you make profit already my suggestion is sell.

China Hongx will go down to 0.11 - 0.13

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Alemak, wat happen to me this morning, keep seeing wrongly, the support 15 are closing on 15/6, 17/6 n 20/6 on daily chart n between 13/6 to 20/6 on weekly chart

richtan ( Date: 15-Jun-2009 09:39) Posted:

OOOps, sorry for my mistake, the final support should be at 15 cts ( closing on 13/4/09) as 16 cts is its intraday high.

All trades should preferably be based on closing price

richtan ( Date: 15-Jun-2009 09:24) Posted:

CHHX had intraday broke its 17.5 support but it cpuld be a fake intraday breakdown n there is further support at 16 cts, I will take a final gamble n take profit tomoro if it closes below 16 cts as I had bot around 7 cts..

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OOOps, sorry for my mistake, the final support should be at 15 cts ( closing on 13/4/09) as 16 cts is its intraday high.

All trades should preferably be based on closing price

richtan ( Date: 15-Jun-2009 09:24) Posted:

CHHX had intraday broke its 17.5 support but it cpuld be a fake intraday breakdown n there is further support at 16 cts, I will take a final gamble n take profit tomoro if it closes below 16 cts as I had bot around 7 cts..

richtan ( Date: 12-Jun-2009 23:03) Posted:

Make an effort to learn TA n practice regularly by taking any charts, cover-up all the candles, apply & test your knowledge, reveal the candles one by one n see whether your analysis is right or wrong, ask why u go wrong (but remember, at times your analysis is right but the candles just simply goes against u for watever unknown or unforseen reason or events, TA is never 100% right), keep practising regularly to sharpen your skill n post your analysis in the forum so tat u can also learn from fellow forumers comments.

I m not claiming tat I m an expert, till today, I m still learning n praticising wat I had learnt 20 yrs ago, occasionally, I would post my analysis, hoping tat fellow forumers can comments so tat I too can learn from them.

Dun just look at the daily charts, it is good to also step-back into a longer timeframe like weekly n monthly charts to get clearer picture.

Below is my analysis, I may be right or wrong, feel free to comments so tat I too can learn from fellow forumers.

Looking at the daily n weekly n monthly charts, I find tat the weekly chart of Hongxin shows a much clearer picture.

Looking at the weekly chart, it shows a bullish flagpole with pennant, which is usually a continuation pattern.

On a break-up n close above 19.5. target 26 cts (project the flagpole upwards), on a break-down on a close below 17.5, I would cut-loss.

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CHHX had intraday broke its 17.5 support but it cpuld be a fake intraday breakdown n there is further support at 16 cts, I will take a final gamble n take profit tomoro if it closes below 16 cts as I had bot around 7 cts..

richtan ( Date: 12-Jun-2009 23:03) Posted:

Make an effort to learn TA n practice regularly by taking any charts, cover-up all the candles, apply & test your knowledge, reveal the candles one by one n see whether your analysis is right or wrong, ask why u go wrong (but remember, at times your analysis is right but the candles just simply goes against u for watever unknown or unforseen reason or events, TA is never 100% right), keep practising regularly to sharpen your skill n post your analysis in the forum so tat u can also learn from fellow forumers comments.

I m not claiming tat I m an expert, till today, I m still learning n praticising wat I had learnt 20 yrs ago, occasionally, I would post my analysis, hoping tat fellow forumers can comments so tat I too can learn from them.

Dun just look at the daily charts, it is good to also step-back into a longer timeframe like weekly n monthly charts to get clearer picture.

Below is my analysis, I may be right or wrong, feel free to comments so tat I too can learn from fellow forumers.

Looking at the daily n weekly n monthly charts, I find tat the weekly chart of Hongxin shows a much clearer picture.

Looking at the weekly chart, it shows a bullish flagpole with pennant, which is usually a continuation pattern.

On a break-up n close above 19.5. target 26 cts (project the flagpole upwards), on a break-down on a close below 17.5, I would cut-loss.

ycgoh06 ( Date: 12-Jun-2009 22:26) Posted:

Your comments and advice are very much appreciated.

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Make an effort to learn TA n practice regularly by taking any charts, cover-up all the candles, apply & test your knowledge, reveal the candles one by one n see whether your analysis is right or wrong, ask why u go wrong (but remember, at times your analysis is right but the candles just simply goes against u for watever unknown or unforseen reason or events, TA is never 100% right), keep practising regularly to sharpen your skill n post your analysis in the forum so tat u can also learn from fellow forumers comments.

I m not claiming tat I m an expert, till today, I m still learning n praticising wat I had learnt 20 yrs ago, occasionally, I would post my analysis, hoping tat fellow forumers can comments so tat I too can learn from them.

Dun just look at the daily charts, it is good to also step-back into a longer timeframe like weekly n monthly charts to get clearer picture.

Below is my analysis, I may be right or wrong, feel free to comments so tat I too can learn from fellow forumers.

Looking at the daily n weekly n monthly charts, I find tat the weekly chart of Hongxin shows a much clearer picture.

Looking at the weekly chart, it shows a bullish flagpole with pennant, which is usually a continuation pattern.

On a break-up n close above 19.5. target 26 cts (project the flagpole upwards), on a break-down on a close below 17.5, I would cut-loss.

ycgoh06 ( Date: 12-Jun-2009 22:26) Posted:

Your comments and advice are very much appreciated.

richtan ( Date: 12-Jun-2009 22:09) Posted:

This is not an inducement to buy or sell.

On wat basis u said "dont think it will hold its ground next week", appreciate if u can substantiate n share your TA analysis or info or is it just base on your emotional thoughts?

Heed my advice, read up trading books on TA (if u are interested, do a search under my username, richtan as I had recently recomended some trading books n "Free Tutorial on TA" websites), to trade without knowledge n doing your homework but instead based on emotions is very disastrous, as in any trade, u need to learn the ropes of the trade, otherwise, it is just pure gambling.

Trading should be based on informed decision n calculated risk n not based on gambling.

The fact tat u need to cut-loss obviously shows tat u had entered a trade without first analysing the chart n had entered during the recent correction after the sharp run-up from 0.055.

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This is not an inducement to buy or sell.

On wat basis u said "dont think it will hold its ground next week", appreciate if u can substantiate n share your TA analysis or info or is it just base on your emotional thoughts?

Heed my advice, read up trading books on TA (if u are interested, do a search under my username, richtan as I had recently recomended some trading books n "Free Tutorial on TA" websites), to trade without knowledge n doing your homework but instead based on emotions is very disastrous, as in any trade, u need to learn the ropes of the trade, otherwise, it is just pure gambling.

Trading should be based on informed decision n calculated risk n not based on gambling.

The fact tat u need to cut-loss obviously shows tat u had entered a trade without first analysing the chart n had entered during the recent correction after the sharp run-up from 0.055.

newtothis ( Date: 12-Jun-2009 18:14) Posted:

dont think it will hold its ground next week. Sometime its good to cut your loss.

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Rightfully n logically, yes u are right but bear in mind tat mkts are fluid n constantly reacting to any unforseen news n events.

Any unforseen, unfavorable events or bad news (not necessary about tat particular stock, can be world events or tat industry) can change the whole scenerio, as I said TA n facts analysis are not holy grail n not casted in stones, so always set your stop-losses in case wat is bullish now turns bearish later.

syrix11 ( Date: 12-Jun-2009 11:49) Posted:

hi richtan,

from your statement "sell volume shows buyer snapping from the seller queue", does that mean that if sell vol is higher than buy vol, it signal bullish since buyers are more willing to buy at seller's price?

richtan ( Date: 12-Jun-2009 11:00) Posted:

Besides looking at the "Time n Sales", u should also take a look at "Trade Summary" at end of day n compare the sell volume vs buy volume, sell volume shows buyer snapping from the seller queue n vice versa besides looking at the weekly volume compared to past few weeks weekly volume

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I really hope tat all new forumers contribute value-added postings by substantiating their postings with facts n figures, charts analysis rather than emotional postings n wild remarks n degrade this forum.

richtan ( Date: 12-Jun-2009 12:14) Posted:

As I aredi mentioned, if u think it is very dangerous, by all means, then u dun touch lor but tat does not mean everybody will not touch n scared by your posting.

I hope no offence taken as I am posting this out of concern for a fellow new forumer.

Friend, frankly, I believe u must be new to trading as I have been around in this forum for quite some time n only notice your extremely worried posting lately, my advice, if u are really keen to trade, wants to learn TA n stop worrying, then do a search under my username, richtan for the few recommended trading books & "Free Tutorial on TA" websites & learn more about TA.

Ans as I always reiterate, TA is not a holy grail, set your stop-loss if mkt turns against your analysis.

newtothis ( Date: 12-Jun-2009 11:54) Posted:

it does shows that people are willing to buy at the seller's price. It happens all the time when the share is bullish "going up"

However, China hongx is not going to cheong as some experts think. It is not as bullish as you every think...... its very dangerous share to touch.

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As I aredi mentioned, if u think it is very dangerous, by all means, then u dun touch lor but tat does not mean everybody will not touch n scared by your posting.

I hope no offence taken as I am posting this out of concern for a fellow new forumer.

Friend, frankly, I believe u must be new to trading as I have been around in this forum for quite some time n only notice your extremely worried posting lately, my advice, if u are really keen to trade, wants to learn TA n stop worrying, then do a search under my username, richtan for the few recommended trading books & "Free Tutorial on TA" websites & learn more about TA.

Ans as I always reiterate, TA is not a holy grail, set your stop-loss if mkt turns against your analysis.

newtothis ( Date: 12-Jun-2009 11:54) Posted:

it does shows that people are willing to buy at the seller's price. It happens all the time when the share is bullish "going up"

However, China hongx is not going to cheong as some experts think. It is not as bullish as you every think...... its very dangerous share to touch.

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Besides looking at the "Time n Sales", u should also take a look at "Trade Summary" at end of day n compare the sell volume vs buy volume, sell volume shows buyer snapping from the seller queue n vice versa besides looking at the weekly volume compared to past few weeks weekly volume.

richtan ( Date: 11-Jun-2009 23:35) Posted:

Let me teach u the rope of the trade (trick).

Do not just simply look at the volume today, wait till tomoro close n see the total volume cf to last few weeks volume, see my weekly chart below.

Learn to look at things in perspective n not be tricked.

Sometimes, the daily volume can be misleading, the volume could be up with prices uncahnged or up but someone tries to play punk n purposely push down towards the close to make it look like down on heavy volume.

Btw, at the end of day, nothing is cast in stones,n charts are not holy grail, so still dyodd, make informed decision n if necessary, if hit your stop-loss, dun hesistate to cut loss n live with your decision should it later bounce back above your cut-loss as nothing is perfect.

baby88 ( Date: 11-Jun-2009 23:12) Posted:

Thanx. The volume of this counter surged significantly today with price dropped. What do this implies ?

Moreover, the volume is actually built up by a few big transactions only. Like 6000 lots, 3000 lots ... this few transactions brought the counter to Top 10 Volume Counters. Is this healthy?

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It is neither a holy grail tat "Fri is a selling day" nor "Sell in May n go away".

If life is dictated by such simple rule, then no need to do TA liow lor, life would be so much simpler.

Look at last mth, May, was it true?

And look at all the index n stock charts n see is it thru tat it is always casted in stone tat "Fri a selling day", it is just a fool's way of thinking not a trader's thinking.

aleoleo ( Date: 12-Jun-2009 09:55) Posted:

people's mindset always think Friday is selling day low, keep selling to take profit .... no choice le, no one wants to hold over the weekend,

as no bright indication wat will happen next week .... normal la .... later when HK keep chiong, then people will start to buy up again ....

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Consolidation to lead to more gains …

by Larry Edelson on June 11, 2009 at 8:30 AM

http://www.uncommonwisdomdaily.com/?p=760 (click on "Video")

Hi there! Larry with my weekly video update, which includes my comments on …

Why this week’s action is nothing more than normal market consolidation

How the major trends will re-assert themselves by next Tuesday

And why you should hold all recommended positions!

Best wishes, as always,

Larry

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We shall see whether your prediction comes true or not tomoro.

Btw, I m speaking on behalf of all fellow forumers n sincerely request n appreciate if u can kindly use small caps as big caps equate to shouting (unspoken & unwritten rule, generally accepted n agreed) n also makes your posting more readable.

louis_leecs ( Date: 12-Jun-2009 00:06) Posted:

I PREDICTS THE BOMD START FROM S SHARE TOMOROW,,,,,PREDICT THAT TRIGGER THE S SHARE,SO BECAREFUL,IM TOTALLY CLOSE MY RADAR FROM CHINA S SHARE,,,,,,,,,,,IM SCARY AKAN DATANG,,,,,,,,,,,,,,,,,,,,CELESTRIAL CASE BETTER TAKE IT A LEASON,,,,,,,,,,,,,,,,,,,,,,XIAM,,,,,,,,CAUSION

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Consolidation to lead to more gains …

by Larry Edelson on June 11, 2009 at 8:30 AM

http://www.uncommonwisdomdaily.com/?p=760 (click on "Video")

Hi there! Larry with my weekly video update, which includes my comments on …

Why this week’s action is nothing more than normal market consolidation

How the major trends will re-assert themselves by next Tuesday

And why you should hold all recommended positions!

Best wishes, as always,

Larry

cheongwee ( Date: 12-Jun-2009 00:37) Posted:

wah...jiat lat liao...baru read 3.85%...yesterday. today 4%..then today market didnt react.....yesterday .CNN report 4% critical level...nw market maybe except this number already or what???

http://money.cnn.com/2009/06/11/markets/bondcenter/credit/index.htm?postversion=2009061112

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Hahahaha... u sure can get Cheong Wee attention at both Straits Asia, $gld or Jade or centillion thread

pilotfish ( Date: 12-Jun-2009 00:13) Posted:

Maybe Cheongwee can advise on the Fibonnacci retractment.

Cheongwee are u here. pse advise...

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When always I m in doubts, I take a step backwards n take a look at either or both the weekly n monthly charts.

See weekly charts attched below.

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Take a look at my earlier charton 8/6 an below chart.

There is also another support at 0.52 n 0.49 at the 50ema (forgot to add)

richtan ( Date: 08-Jun-2009 11:19) Posted:

Looking at the long term line chart, Ausgroup is having a bullish cup formation with flagpole n bullish rising wedge with support at 0.60, followed by 0.57 n 0.515 (consolidation n failure of rising wedge).