Wednesday, September 29, 2010

20100929 Some 30 min charts of selected stellar stocks.

UEMLand is a standout. I remember in March 2009, a trader friend insisted that this was the stock to be in for the next bull market. We had the same opinion on the bullish stock market to come. Hence he bought a large position in the stock, I think at just below RM1.00. Along the way up he would sell at various levels eg 1.20 1.40 1.60 1.80 but as the price get higher he would buy back the positions he sold at higher prices, until eventually the position became zero in a catastrophic panic sell at around 1.60.... This is an example that parralel's Jesse Livermore's situation, Livermore learnt from his mistake and how he failed to see the wood for the trees... If one is bullish on the stockmarket, it is best to hold and be the sitting bull for the long haul. But remember the value investing principles "Buy when people are fearful and sell when they are greedy" "when you buy a stock, expect it to either go up 50% or drop 33%"

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"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil

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From Dragons and Bulls by Stanley Kroll
Introduction and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Larry Hite: The Billion Dollar fund Manager
Systems Trading:Kroll's Suggested Method
Buy the Strength Sell the Weakness
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system