Current Positions & Yangzijiang

Away for holiday for a week.

The recent drop for stocks is significant, just a pity I couldn't get out in time.

Still having the following positions:
- Sunvic - Semb Marine
- Sunningdale Tech

Yangzijiang continues to be in a down trend, and perhaps it is time to pay more attention to it. MACD and RSI both trending down, but the price will attempt to close the gap. Likely to hit the sloping trend line before its downward spiral.

Market Swings

The past 2 days' market movement for the STI had been somewhat extreme and that affected the trading psyche. This re-affirms that the mindset and will power of a trader are important traits for successful trading.

Guess the lost suffered (MIDAS bought at $0.72 and sold at $0.70) is a good reminder.

MIDAS - Reversal?

MIDAS has been experiencing price sliding for many sessions. However, a possible 'hammer' might have formed 2 days ago. This hammer is somewhat short in its lower shadow and there is no volume confirmation about such a pattern.

Short term EMA (5 days) is still lower than the long term EMA (20 days) but it is catching up.

Judging from the volume distribution, it doesn't seems like many of the big boys are buying into this stock, but more like house traders placing their bets. Towards later part of the day, there is some bigger scale buying up activity.

For those with bigger appetite for risk, this stock may turn out fruitful till the price reaches $0.76- 0.77. Do watch out for the volume confirmation this 1-2 days, lacking which it will be time to cut loss.

P.S. Vested.

Current Positions

I was expecting more exciting trading movements past the recent GE 2011, but the market activity seems somewhat muted.

Nonethess, prior and post GE 2011, I've taken these positions:

- YangZiJiang bought at $1.72 and sold at $1.74
- Sunvic bought at $0.84
- MIDAS bought at $0.72

Existing long positions in Semb Marine and Sunningdale Tech still hold.

Sunvic - Resistance at $0.82

Despite in a 'XD' status, Sunvic continues to display bullish tendency. The short term EMA is still higher than the long term EMA. Based on the chart below, Sunvic is moving within an upward trending channel.

However, it is hitting its recent high of $0.82 which will be a major resistance. There is further room for growth since the RSI is still in a neutral region while the price is trending upwards. It is likely to break the $0.82 since there is major buy up (seen from the volume distribution chart).

P.S. Vested interest after post - at $0.84 since the resistance of $0.82 was broken with strength.