This is my last HK counter that is being stopped out today. Many stocks have already ran up and this is one that was consolidating very near a strong support at $5.33. I thought this would make a good buy as the potential to go up is more than going down, as the general market is still bullish. If it does go down, $5.32 is a good stop loss level. Once this support is broken, it would struggle to make it’s way up for quite some time. Hong Kong market is not doing as well as Singapore. In fact, Singapore is the only market that is outperforming due to rosy economic report.
Bought 10,000 shares at $5.69 on 7 Apr 10.
Sold 10,000 shares at $5.30 on 15 Apr 10.
Commission = HK$398.30
Loss = -HK$4298.30 (-S$771.69)
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