Momentum Is Your Friend

It was a great day on Monday when I sold 39,000 unit of IRCB at MYR 0.315 (buying at MYR 0.275) and 18,000 of ETITECH at MYR 0.320) (buying at MYR 0.265). Banging profit more than 10%. Cool...but I'm still tired working on update of ISO document, inventory checking and all...failed to browse what on the net for next trading or looking at TA the night before, then came the unforsaken  mistake that I could has avoid. Buying a stock that losing a momentum using contra...then for Tuesday, again with all the tiredness and without looking at TA chart, again I'm buying a warrant with low volume (low volume=low liquidity).

MULPHA (3905) 

That Monday, I feel reluctant at first but I proceed anyway by buying 30,000 unit of MULPHA at MYR 0.655 (a minute after that the price went down to MYR0.650). Note to self, always try to buy at price when many people are bidding for that particular price. By the end of the day, the counter close at MYR 0.655. Huh..what a day! Then, came Tuesday, the shares was traded higher at MYR 0.670. Wow! Lucky me! And today, a massive selling day occurs and the share close at MYR 0.660. And tomorrow, I believe the counter will turn for the worst and spiraling downward as if I'm not mistaken a company has sell 7 million (with capital M) unit of shares after today's' closing. Tomorrow is the last day for my contra (T-3), so better brace for the worse.

AnnJoo-WB (6556WB)

I don't know what got into myself lately as again I make a mistake. On Tuesday, without looking at TA chart as I was busy attending meetings, managing labs, etc, I bought Annjoo-WB at MYR 0.745. Again, stupid me bought higher than the rest of buyers. Nothing much left to say as the price drop to MYR 0.740 a few minute after that and linger around that price almost a whole day and closed at MYR 0.745...after back from work, I just discover that that this warrant is traded at low volume!!!! I'll be damned..although Ann Joo are suitable for medium and long term holding, it is very not suitable for contra player such as me. Today, no much action and trade was closed at MYR 0.750. To make a minimum profit at 18,000 units, I need at least an increase of 1.5 cent with is hard as the volume traded are low. I will give it 2 days more before selling for a lost, probably.

SPSETIA-CC
I'm still holding this baby although it doesn't move tandem with it's mother share. SP Setia has a strong fundamental and currently moving uptrend. Today, the mother share open with a gap of 10 cent at MYR 6.60 and traded higher at MYR 6.69 for the day. The warrant closed higher at MYR 0.23 (an increase of 7%@1.5 cents). 0.5 cents higher than my buying price(MYR 0.225). Still hoping for the best for this warrant.

Incoherent Rambling
In a bull market, always trading with volume and do your homework. Take a look at TA chart and look for information on the net. In a bull run like this, your FA (fundamental analysis) are quite useless unless you are medium to long term holder. As for me, with fund limited at MYR 12,000, punting and contra is the way to go. Always follow the trend. Always follow the smart money (shares buyback, high volume of buying from other institution/company). Buy on weakness. Need to carve all the points into my mind.