Friday, April 06, 2007

Here Comes the (China) Sun

Amazing day on the market again. We once again saw huge rises on Golden Agri. My broker notified me about GA yesterday when it spiked up to $1.88, but I was so caught up with other stuff that I didn't pay attention. Anyhow this just goes to show you that you need to do more reading and NOT focus on only a few stocks. The chart for GA is Beeautiful! Pity I didn't see it earlier.

You just have to take a good and positive attitude to this sort of thing- otherwise you'll just go nuts. Honestly, if I had bought GA at $1.88. I'd most likely have sold it at $1.99.

On another note China Sun... Jeez... I bought it three weeks at 54.5 cents when it shot up. I thought it'd break thru past 60 - easy money; its usually done that before and hit that resistance line. So buy at 54.5 and plan to sell at 59+... easy money yeah?

But it came back to 53, I kept and didn't issue a stop loss due to the support floor at 53. I got out a few days ago at 55 cents due to the heavy level of selling & international concerns, and after it failed to breach 56 for a second time. Today, I was talking about it with SP, my friend, this morning when it spiked to 57. It looked good. Unfortunately, I already committed myself to Chartered (1.45) and Synear (2.01). Still holding onto big positions with Aztec and Sunvic (which I purchased in Jan/Feb). Bought Unionmet today at 65.5.

You can't be in too many places at once.

I feel a bit silly for getting out of Ausgroup too two weeks ago. Got in at 61 - sold at 65. The chart looked great. But I was worried about the Middle East crisis/Iran. And took profits. Oh well, share trading - its a great game, just remember that you could be on the menu next if you don't watch out.

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