HL Asia
HL Asia had a very good uptrend for the entire year. The pullback in Jan 10 provides the opportunity for me to enter. I particularly like this type of stock where it is close to breaking 1 year high. I got in the trade at $3.68 and when the price hit the 1 year high at $3.86, I placed a stop order above it. It did break out and I got my contracts. Thereafter, the momentum was good enough to carry the stock upwards for the next 2 weeks. As the support could not catch up with the rising price, I placed my stop loss below the previous day’s low. Eventually sold the stocks at $4.59.
Bought 1,000 at $3.68 on 24 Feb 10.
Bought 2,000 at $3.86 on 5 Mar 10.
Sold 3,000 at $4.59 on 31 Mar 10.
Commission = S$50
Profit = S$2,320
Ho Bee
Just when I was very happy with the profits from HL Asia, Ho Bee has to destroy it out right. Looking at the chart you should be able to feel my pain. What took HL Asia weeks to produce the gains, Ho Bee has to lose most of it in ONE DAY! It is so painful. This is kind of a mini black swan. This is very rare in Singapore stock market, a prestigious stock drops more than 10% in one day while the rest of the stocks remain more or less stable. But anything can happen in the stock market and if I want to trade, I have to accept it. I am rather surprised my dear broker filled my order at the LOWEST price of the day. I wanted to complain but reckon the broker will just turn a deaf ear as they would have these kind of issues day in day out. I controlled my emotion and just want to find out if 1.55 was within my stop loss price range. If it is not, then I will really do something about it. Now I understand what is loss aversion. The emotion is stronger to a loss than to a win. Even though I still have a net profit, I felt terrible.
Bought 5,000 shares at $1.87 on 17 Mar 10.
Sold 5,000 shares at $1.55 on 31 Mar 10.
Commission = $50
Loss = -S$1,650
You may also like:
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- Genting (long) – closed on 22 Jan 10
- Venture (long) – closed on 22 Jan 10
- Zhuguang Holdings (long) – closed on 27 Jan 10
- Anhui Tianda Oil Pipe (long) – closed on 18 Jan 10
- Dongfeng Motors (long) – closed on 9 Feb 10
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{ 4 comments… read them below or add one }
I can really see the pain in Ho Bee. It’s a function of the market, not the stock. What happened on 31 Mar was perhaps an option expiring or position squaring at quarter end which by the look of it , was Singapore specific. Quite unfortunate, actually. Always counter check futures pricing in the last week of every month, particularly at quarter end.
I can really see the pain in Ho Bee. It’s a function of the market, not the stock. What happened on 31 Mar was perhaps an option expiring or position squaring at quarter end which by the look of it , was Singapore specific. Quite unfortunate, actually. Always counter check futures pricing in the last week of every month, particularly at quarter end.
I personally do not do active trading. I bought Ho Bee at about S$0.90 during the Financial Crisis, and recently I sold half of my holdings at S$1.88, and made over 100% returns…active trading in my opinion involves a lot of work but not necessary much financial gains at all.
I personally do not do active trading. I bought Ho Bee at about S$0.90 during the Financial Crisis, and recently I sold half of my holdings at S$1.88, and made over 100% returns…active trading in my opinion involves a lot of work but not necessary much financial gains at all.