RH Petrogas and 2 "live" trading practical tests for you!

Entered this transaction at 79 today. My gut feel is that this stock is about to run with the Bollinger Band tightening and increased in volume. First target will be between 85-90c with a cut loss around 70c.

There are a few other counters with interesting set ups which i observed. I list some of them below for your own 'training'. You will have to learn how to fish them yourself but master the basics of cutting loss is absolutely necessary before you embark on the trading journey.

• Biosensors showing a nice doji with volume at 72.5c. It allows for a counter trend trade with a tight cut loss. Assuming i enter at 72.5c, you tell me what is the target for this rebound and the cut loss level. You can either leave your comments here or in my facebook page.

• Rex International allows for a counter trend trade and a tight cut loss as well. Assuming I enter at 59c, what would be the target and cut loss level.

Happy fishing.

A bio "Heartbreak" and Capitaland

I was preparing for my trip last week and i spotted this potential swing trade on Biosensors on Friday.

I was contemplating a trade at 84c and would have gotten in easily but i was hesitating as I am leaving the weekend to London. I would have bought Biosensors at 84 and the targets would have been around 92 and 98 with a stop loss below the recent low. Anyway, i didnt execute the trade but wonder why I didn't "fire and forget" as i have intended to.

Anyway, i have decided to try it out on the next trade i spotted, which is Capitaland to test out my theory of "fire and forget".

Enter at 3.03. First target around 312-315 and second target around 320-325. Cut loss below 292. 

Happy trading. 

Watch out for the hammers

Not sure if you remember my post on "the stars are starting to appear..."back on 18 Sep.

Today I write the other version of it. Watch out for the hammers and this will be how i can potentially trade it.

Hammer

As in a shooting star, the hammer in the candlestick is the other opposite version of a reversal signal at the end of the "correction". The aggressive trader will buy near the close of 1.07 yesterday and put a stop loss at 1.02. The less aggressive trader can buy this morning and use the same stop. The first target will be around 112-114, the second target will be around 116-120 and the more aggressive target will be around 122-124. Since the price has already moved up, i will also move the stop to around 106 to ride the stock.

Shooting stars again?

GLP and Osim showed shooting stars today and i will usually tighten my stops if i am trading the position.

Happy trading.

Ninja Master Fund - Closing off Biosensors and cover half of Ezra shorts.

I have sold off my remaining  long positions in Biosensors around 1.21. With prices not moving despite STI rallying, it has been a disappointing ride. The earnings results will be announced for Biosensors on 27 May 2012, it may be time to say good bye and trade again later. Plus i am out of town for most of  next week and will be on flights.

I have also closed off half my short positions in Ezra at 1.06. I was 'lucky' that the market sold down despite the "good news" of earnings and contract wins.  That is why it never pay to chase and buy at the opening when company just released good news. Those in the 'know' would have bought prior to that and then dump it on the new set of buyers who jumped in at the news.

Happy trading and have a good weekend.

Biosensors - Sold partially today

Biosensors - initiated long positions in June. Took some money off the table today at $1.22 and holding around 60% position left.  Uptrend remains intact and may re initiate long positions around $1.15-$1.18 depending on how the market behaves in the next few days.