Hi All,
I'm just came back from short course last week. This week my focus on penny counters. I don't know what is the price range that can be put under penny counters in Malaysia. Some says 50 sen and below, others says 20 sen and below. But as my observation from Jan 2012, this time the third liner (penny counters) on the move.
NEXTNATION
Salvatore Dali wrote something on his blog, Malaysia Finance Blogspot ( http://malaysiafinance.blogspot.com/) about this counter. Long story making short story, an indonesian company (big cap company) show interest on this counter. When Dali wrote something on specific counter/s, thousands traders/investors will take interest in it. So, yours should do the same too. Mine, can't write as what Dali do, but i have figure out the potential on chart....
Chart Orientation
I saw a flag or u can say also descending triangle pattern, price cut through 20ma line and white hammer near support. These are the indication of price will move up whether tomorrow or the next day.
Legend:
red line - cut loss
green line - enter price
blue line - target price
Indicators
From top, 1) acc will test new high
2) momentum in the process of going up
3) stoch at 36%
4) MACD histogram green and MACD above 0.
My View
i like this counter. Last time not so good, now look fine to me. Tomorrow i have to watch first since 1 indicator still not perform as i expected. This time i just put the enter price at last friday closing. U know why? The Dali syndrome (for good).......
KBUNAI
Kbunai also have a brother company, PTGTIN. If Kbunai up, his brother also up. When u see lower low and lower high through, meaning bullish trend in the making.
Chart Orientation
Last friday, long candlestick plus big volume which cross 20ma is a good indication this counter will going up. On top of that, BB have been broke out. At 18.5 sen, i consider strong resistance, it should be taken out easily as per last friday.
Indicators
From top, 1) acc up
2) momentum up
3) stoch at 56%
4) MACD histogram green and MACD above 0.
My View
I have put my target price on chart. Volume on last friday quiet high compare for the whole month of Jan 2012. Maybe PM will visit Sabah soon????
TIMECOM (not so penny)
Chart Orientation
Long white candlestick cross 20ma, BB squeeze, volume a bit high and cut loss point very close. I wish i could have more capital in hand now.
Indicators
From top, 1) acc up
2) momentum up
3) stochastic at 25%
4) MACD histogram green and MACD at 0 line.
My View
If u see the similarity of the 2 counters ie Kbunai and Timecom, u will know how i choose these counters.
Guru
Last week, somebody try to tell me how he follow his guru. He told me he make money because he follow what his guru said. I just told him, read Alexander Elder book, find the title "Dead Guru" and he will understand more about his guru. I try to educate him about "for u to be a better traders/investors, u need to learn and learn and learn". Bruce Kovner said losses is for u to understand the pain and eventually gain experience, then learn what u have done wrong and never repeat it. If market against u, after u have done the study and research, at least u will satisfied that the losses is not under your countrol. And the one under your control is cut losses.
I write this blog not because i gain more money through affiliate members or some sort of it, but i try to learn how to trade in stock market like a pro. I have many gurus such as Stephen B. Bigalow for candlesticks and gap trading, Jake Bernstein on Momentum and MA + day trading, John Bollinger on Bollinger Band, Ed Seykota also for MA, Jesse Livermore on crowd behaviors, Tina Logan on candlestick, Martin J. Pring on Swing Trading, Alexander Elder for introduction to TA, and many more by reading their books. So, pls don't talk to me about other "guru" who still not make millions and millions of money in the stock market. So...
Happy Trading!!!
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