Stocks have been coming down for the past few weeks. For last week, the price seems to stabilise and voltality also reduced. Stocks may go on a rebound. There aren’t many stocks that have a decent uptrend and I only found Osim as the best candidate. I decided to go in half the size of my usual position to try. However, the market turned weaker, and Osim actually broke it’s support. I was not able to sell the stock at that instant as I believe my stop loss order was keyed wrongly. I had to keyed the new stop loss at the closing price of the day which is one bid below my intended price. I count myself lucky to get out before the next big drop.
Bought 6,000 shares at $0.83 on 14 May 10.
Sold 6,000 shares at $0.75 on 25 May 10.
Commission = $50
Loss = -S$530
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{ 4 comments… read them below or add one }
Hi Alvin,
Markets are still very volatile despite the occasional short little rebound seen over 1 or 2 days. I believe the situation in Europe is still far from certain, and things are changing day by day. It is hard to think Asian markets will not be affected by the European insolvency crisis even with improving fundamentals in US and Asia.
i will be staying out instead, letting price action prove itself (to continue uptrend) before getting in on the long side.
Hi Alvin,
Markets are still very volatile despite the occasional short little rebound seen over 1 or 2 days. I believe the situation in Europe is still far from certain, and things are changing day by day. It is hard to think Asian markets will not be affected by the European insolvency crisis even with improving fundamentals in US and Asia.
i will be staying out instead, letting price action prove itself (to continue uptrend) before getting in on the long side.
Tek Wee, I agree. I am not planning to enter any position now and not holding to any either.
Tek Wee, I agree. I am not planning to enter any position now and not holding to any either.