morning … "it is not when or what you buy, but when you sell that matters". I read this quotation in one of the trading book …
So, needing to time the exit point for SCOMI at the moment is crucial since i have acheived my target price. It formed a doji-star yesterday and a flag a day before … showing that there is a possibilities that it will be RED ALERT today … but due to DJIA up 200+ points last night, there is a likelihood that KLSE will follow through …
Price at 0.71 at the moment … it needs to break 0.78 to trigger any immediate up-trend. If my prediction that it will move UP this morning later … and to sell at 0.75, then we shall see if it could break the resistance of 0.78. Once it breakout of 0.78, i can accumulate AGAIN before it reaches the next resistance level(which i need to re-examine at the charts). Support is at 0.64 at the moment.
That is TA … simplified. It is very technical … just like BOWLING!! Not only throw the ball, and HOPE it will hit the head-pin and once in a while, u get a strike!! We are talking about PROBABILITIES at play here : BOWLING <—-> TRADING.
9.50am
Good guess … hehe … the KLCI is green as DJIA was up. With further retrace of crude oil price (US123 now), we could expect more uptrend, for a time being. Of coz, we need to take into consideration of our clowns in parliment. Someone might claim being molested!!
1pm
Scomi closed at 0.715 at lunch hour …
