Tuesday, April 03, 2007

Monday

Hmmm.... the much anticipated bloodbath didn't happen. Oh well... heehee. Fortunately, not much damage done. Just sold off my holding of Sunvic at a lower profit. Still made a nice tidy sum of about three grand. Could have made more if I hadn't been in such a rush to sell. Anyhow, Sunvic fell sharply after lunch so it was a good thing I didn't hold onto them.

On another note, mum seems to have cooled down a bit. I got a bit worried when I found her warning letter nailed to my door. It was bizarre but well, just got to bear with her tantrums.

3 comments:

LuckySingaporean said...

Yau,

Me ...Lucky Tan again.

I think I might the the one buying FerroChina from you! ...

Anyway, well done on your $3K profits. I notice you bought(and sold and bought) a number of stocks that I bought 1-2 weeks ago after the market mini-meltdown. I haven't really look at them much since that time.

Stocks I bought:
1. Sunvic
2. Sunshine
3. Ferrochina
4. Swissco
5. Ouhua
6. Sp Chem
7. CG Tech.

I bought about $30K of each. I made a list of stocks that I 'missed' as the market ran up, waited until the recent selldown took a look at what I can buy. Got someone else to go through the accounts to double check in case I missed something. See what is worth the risk then bought...and hold.

I have no 'fixed' cut loss, don't every look at charts, don't check the prices everyday, don't count my profits, ...only checkpoint is next reporting season for the quarterly results to decide if it is still worth holding.

Guess we are in different universes. I always took a 'Buffet-tish' approach to stocks....I thought since he is the 2nd richest man and all that...

Anyway I noticed many stocks you were buying-selling is on the list I bought and held on to. Wonder how you'll do if you just simply hold on to something 'quite sound' like Sp Chem...then sell it 3 months later. ....no need to lose sleep watching stock prices move, no need to worry about the Dow, no need to buy, sell, buy so many times, no need to try to fathom the one hundred and one financial reports. ....what will happen?...

I do ALL my homework BEFORE I buy the stock. After that, just regular checks every few weeks or months. The rest of my free time I spend on my blog : http://singaporemind.blogspot.com which is a political blog.

Yau-ming's blog!! said...

Hi there,

Its the same thing. We play the same game. We just play it in different ways. I'd prefer to buy and hold stocks with good fundamentals. But due to the market volatility (and the rise since July) I'm not so keen to do that.

Ever since 911, I'm not too keen on the buy and hold strategy. Pity the people who bought DBS when it was $20 many years ago, y'know what I'm saying.

Example: I bought into KS Energy in January... bought and hold - only to see it fall to $2.50 in March. I didn't average down on that one. I just got out today at $3.18. I'll try and get back in at $3 tomorrow.

I have been in and out of FerroChina, Sunvic (just bought today), Aztec (still holding since January).

Out of all my stocks, I think FerroChina and Ausgroup was the one I should have concentrated on and held onto. They were easier to trade than Sunvic.

I'm just after good returns- if I can make 5% - 10% on a particular stock, I'm out of there, its a volatile traders market. Anything can happen tomorrow.

LuckySingaporean said...

Yeah. All the best on your trades.

You know I stayed in Melbourne on and off when I was younger. I still have an apartment near Carlton gardens which I did not rent out - I used to go there at least once a year to relax and , de-stress & relive memories. But I haven't been there for 2 years and consider selling it off. My ex-girlfriend studied at RMIT at that time and that was how I got connected to Melbourne.

Left many memories along the Yarra river, along the great ocean road, on mount Bulla, ...love everything in the city - the Vietnamese food, the trams, the weather...