Tuesday, February 28, 2012

A 'profit-turn-losses' trade (Feb'12)

February is a very pleasant month initially, with my first trial trade on CPO turn out profitable early in the month. Virgin profit on CPO is easily more than 1k, in less than 1week's time. 

That was followed by FKLI hitting resistance at 1560-65 region (Feb 10-15). Hence, went SHORT on FKLI Feb'12 contract (Feb 15). Bugger went gapped down to 1550 region right the next day (Feb 16) , I didn't close my position as my profit target was at about 1540 level. Next thing is know is a gap-up, followed by a rush up to break the 1564 resistance & subsequently made a new high at 1569.5. Manage to close my position with little losses & turn long on the suddenly turn-bullish market. turned-LONG at 1560 region with PT at 1570 level. Queue at 1569.5 to close positions on Feb 21, but orders not done. Missed the chance to walk away with handsome profit & then got locked in the sideway channel after Feb 21 high. Finally, made the decision to close all 3 contracts on-hand at 1553.5, incurring losses of >1k, as compared with the almost in-the -pocket profit of >1k if able to sell on Feb 21.

Well, that's a great lesson learnt:
  • Never be stubborn on profit targets, take what the market offers; 
  • Never hang-on to a trade longer than necessary, in-hope of reaching your profit target.
  • A stalled price/points shall only invite the SELLERS & scared off the BUYERS.
Meaningful lesson learnt, the journey as noted below in the chart:

Happy Hunting to all!

Thursday, February 23, 2012

JCY - intraday trend (Feb23-24)

Below is the intraday outlook for JCY International.

JCY - Direction for Feb23-24

After the sharp retracement from the previous high of RM1.50 on Feb 8, finally JCY started to break out from its bottom consolidation since early this week. 

Based on the 15min chart, technicals is telling me it should retrace to 1.22-1.23 region before attempting to break the day high of 1.27 made in the morning session. However, on the line-up, buyers are way to many to allow a sell-down to 1.22, its more to 1.23-.24 region based on the line up. Hence, anywhere between 1.22-1.24 region is a good entry. Immediate profit target will be the day high of 1.27, or higher, which should happen either today or by tomorrow. 

Once the 1.27 resistance is overcome, further upside should be to 1.29, then 1.31. However, note that a failure to break above 1.27 shall invite further selling to 1.09 (Jan 19), the starting point of the most recent rally streak. 

Happy Hunting!!

Thursday, February 16, 2012

NICORP short-term outlook

NICORP, famous because we got the director of the year, Mr. Raymond Chan, emerging on the board. Previously, he went on HARVEST's board & caused the hoo-hah on the share price, together with our nation's 'First Son'.

I wasn't looking into NICORP's charts as I don't really believe in charting for speculative stocks that went up for no specific reason, what-so-ever. However, today upon request, I put up it's chart. 

WALA!! It's a nice chart indeed! Forming RHS of a saucer. 

Just at 11am+ today, the price reached 0.600. I believe it can go up further to find the 61.8 fibo retracement line at 0.610 & higher. However, before that should see a retracement back to 0.56-0.57 region first (as of writing, price just retraced to 0.560 after lunch break. My chart was plotted at 12:21pm). Then expect it go back up higher again from there to close at 0.60 or higher today.

Below is the near term outlook, coming with comments.


Wednesday, February 8, 2012

JCY - Record Profit @RM162.45mil !!!

Hard-disk drive manufacturer JCY International Bhd's earnings surged to a record RM162.45mil in 1Q ended Dec 31, 2011, from only RM7.51mil a year ago (That's an amazing 21.6x/2160% jump on profit yoy). Revenue rose 27.3% to RM559.03mil from RM438.90mil a year ago. 

JCY said the board was recommending an interim single tier tax-exempted dividend of 2.0sen/share for financial year ending Sept 30, 2012.  ----reported in The EdgeMalaysia (Feb 08, 17:23)

However, the bad news is the share price has more than doubled since mid Dec'11 on speculations/rumors of possible strong financial results, benefited from the Thai flood late last year. 

Based on the chart, the stock may have another last upleg boosted by the stunning quarter results announced. Immediate resistance as of today's (Feb 08) close of 1.41 will be: R1@1.45, R2@1.57. However, there's little room for profit tomorrow as I believe the stock will simply open tomorrow gap up to around/over 1.45 region. Strong buying may push the stocks to test the 1.57 resistance immediately during tomorrow's trading, but it shall find it hard to overcome. 

If unable to close above 1.57 tomorrow, expect the price to retreat back to the resistance-turn-support 1.45 region rapidly. Aggressive traders may enter below 1.50 & exit if unable to close at high tomorrow, churning an amazing ~8% profit intraday assuming an entry@1.45 & exit@1.57. 

Below is the latest charts on JCY freshly done from my desk. ENJOY!

Friday, February 3, 2012

CYPARK short term outlook

A client inquired on CYPARK's short term outlook yesterday & I ran a technical analysis on it. Below is my conclusion as of yesterday (Feb 1):
CYPARK - daily chart as of Feb 1

This is what happened to CYPARK today (Feb 3):
CYPARK - hourly chart (03/02/2012)  

The feeling of being 'PROVEN' right just feels soooooooo good! HoHoHo!!!

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