I really have to apologize that I did not post as promised, so I hope this post makes it up abit albeit too late.
Technical analysis led me to believe that Olam was a great buy and I bought it right before it shot up. However I did not have the foresight to sell it when it was $2.75.
Two days ago, I saw a breakout indicator in golden agri, and I had to queue just before it opened, and true enough, upon opening, it shot up with incredible volume. That indicator was the classic kumo cloud breakout sign.
Of course, talk is so cheap, so I decided to post my trades here to garner some credibility heh heh.
I trade with
Lim&Tan so those who use it, will find this user interface familiar. My last trade was today, selling off GAR for $500 profit excluding commisson. If you noticed, I also attempted to buy NOL but with no success and I cancelled my trade at 1230pm today.
The following analysis is not an inducement to buy or sell but it is something that I am looking to take action on. period. It is at your own risk.
Everyone's favourite counter- Genting. Since its excellent financial report, it has rocketed beyond one's wildest dreams. To me however, it will always remain as a kelong counter. Its fine that I missed the boat but when u see a somewhat
dark cloud cover, coupled with indicators screaming overbought - you know what to do.
It is however prudent to wait for confirmation of the downtrend because Genting is heavily played by the big boys out there.
