AGI
Entry: 6.78
Short term target: 7.20 - 6.19%
Medium term target: 7.61 - 12.24%
Long term target: 7.87 - 16.07%
Cut loss: 6.53 - 3.68%
Break-even: 6.98
LPZ
Weaker momentum:
Entry: 4.78
Short term target: 5.47 - 14.43%
Medium term target: 6.15 - 28.66%
Long term target: 6.57 - 34.44%
Cut loss: 4.36 - 8.78%
Break-even: 4.92
Stronger momentum:
Entry: 5.01
Short term target: 5.45 - 8.34%
Medium term target: 6.12 - 21.66%
Long term target: 7 - 39.16%
Cut loss: 4.74 - 5.39%
Break-even: 5.16
MPI
Entry: 3.25
Short term target: 3.46 - 6.46%
Medium term target: 3.67 - 12.92%
Long term target: 3.80 - 16.92%
Cut loss: 3.12 - 4%
Break-even: 3.35
FLI
Sell at 1.26-1.27. Break-even at 1.23
Entry: 1.20
Short term target: 1.30 - 8.33%
Medium term target: 1.40 - 16.66%
Long term target: 1.46 - 21.66%
Cut loss: 1.14 - 5%
Break-even: 1.24
MEG
Entry: 1.89
Short term target: 2.04 - 7.93%
Medium term target: 2.19 - 15.87%
Long term target: 2.27 - 20.10%
Cut loss: 1.80 - 4.76%
Break-even: 1.95
Monday, August 23, 2010
Personal Disclosure
Today's session is relatively boring even though the market still ended up in green territory as I was expecting, closing up by 19 points.
Most of the stocks I am looking at are starting to weaken. AGI and MPI are just few centavos away from my entry points. MEG and LPZ are just starting to go down while RFM has still room to move up, possibly one more upswing before correcting.
What's worrying me with RFM is the volume traded during its recent climbs are starting to decline. Upswing range is also growing tighter which is bothering me. However, they have approved a regular cash dividend policy allotting 30% of their recurring net income looks pretty attractive though so I am rather unsure whether to take anymore positions here. Technical vs fundamentals, what to do?
I am partly frustrated as I didn't get to dispose my small position in FLI as my phone died when I tried to call my broker. When I got through, their line was busy. It is definitely a sell today. Now I am forced to wait for the confirmation. My position still stands 2.43% higher from break-even levels so I could probably still sell it at 1.26 tomorrow.
The overall market is now extremely overbought so there is going to be a technical correction in the immediate future, probably by mid week. 3525 is a possible support.
Still standing at 13% gain out of the 25% target.
Hoping for the greater good to happen tomorrow!
Most of the stocks I am looking at are starting to weaken. AGI and MPI are just few centavos away from my entry points. MEG and LPZ are just starting to go down while RFM has still room to move up, possibly one more upswing before correcting.
What's worrying me with RFM is the volume traded during its recent climbs are starting to decline. Upswing range is also growing tighter which is bothering me. However, they have approved a regular cash dividend policy allotting 30% of their recurring net income looks pretty attractive though so I am rather unsure whether to take anymore positions here. Technical vs fundamentals, what to do?
I am partly frustrated as I didn't get to dispose my small position in FLI as my phone died when I tried to call my broker. When I got through, their line was busy. It is definitely a sell today. Now I am forced to wait for the confirmation. My position still stands 2.43% higher from break-even levels so I could probably still sell it at 1.26 tomorrow.
The overall market is now extremely overbought so there is going to be a technical correction in the immediate future, probably by mid week. 3525 is a possible support.
Still standing at 13% gain out of the 25% target.
Hoping for the greater good to happen tomorrow!
Personal Disclosure
I probably made a mistake last week, selling AGI too early as it didn't really showed any clear sign of reversal, missing 4.34% off that trade. Not following the trading plan is really bad.
I was expecting the market to make a correction last Friday. And I was right at the first 30 minutes of the session. However I was proven wrong after that as the market moved up into the positive territory, closing up by 33.21 points.
I am hoping to take profitable positions this week, looking for 20-30% gain for two weeks this time around. I am going to increase my holding time up to two weeks this time until a clear reversal surfaces. I would also try to figure out how I would sell my accumulated position through pyramiding.
I am exceptionally keen on taking positions in AGI, MEG, MPI, RFM, and LPZ. AGI and LPZ are both trading below book value. Hopefully they retrace back to my entry points this week. RCB also looks nice as it is still trading below book value although daily volume turnover is a matter of concern. I will still be holding my small position in FLI as it is still trading below book value too.
Market should be correcting by mid week as the overall market is generally overbought already.
I was expecting the market to make a correction last Friday. And I was right at the first 30 minutes of the session. However I was proven wrong after that as the market moved up into the positive territory, closing up by 33.21 points.
I am hoping to take profitable positions this week, looking for 20-30% gain for two weeks this time around. I am going to increase my holding time up to two weeks this time until a clear reversal surfaces. I would also try to figure out how I would sell my accumulated position through pyramiding.
I am exceptionally keen on taking positions in AGI, MEG, MPI, RFM, and LPZ. AGI and LPZ are both trading below book value. Hopefully they retrace back to my entry points this week. RCB also looks nice as it is still trading below book value although daily volume turnover is a matter of concern. I will still be holding my small position in FLI as it is still trading below book value too.
Market should be correcting by mid week as the overall market is generally overbought already.
Working on a trading system
I started to setup a working trading system as of mid week of August after I sold every position I have before, ICT from my account and AP from my father’s account. It is working so far but it still needs fine tuning to work out perfectly.
The main focus of my trading system is to accomplish a target within 4-weeks time. The target of the trading system I am setting up is to gain 25% of total equity within 4 weeks. I started using this trading system on August 16, 2010, second week of August. I need to reach the target within 4 weeks time, at September 16, 2010.
The system requires aggressive positioning so I am also putting up an aggressive take on cutting losses. 1% from entry should do it. Position taken should immediately show profit or should not show loss at the very least.
Entry and exit will be confirmed by a set of technical indicators I have learned to use.
I am still learning basic fundamental analysis to get the bigger picture of the trade. So far, I have learned calculating book value and book value per share. Next should be intrinsic value which I have trouble learning until now.
I would also be incorporating pyramiding in my trading system to systematically reduce the risk exposed when taking up a position. The pyramid ratio I will be using will be 3:2:1. My main problem with this new set of rules of pyramiding is I still don't know how I would sell my accumulated position.
I hope to achieve the said target by September 16, my first month, so I can finally change my broker to drastically decrease the commission I am currently paying which requires me to gain 3% to break-even.
I will be starting the target from the proceeds of AP and ICT plus the losses I incurred with SFI and FGEN, plus my current position in FLI.
Gained 13% of the 25% target last week.
Out of 3 trades last week, 2 showed profits. I traded FGEN, FLI, and AGI last week. FLI and AGI showed profits while I immediately took loss with FGEN.
My new trading system seems to be working fine as it showed immediate positive results. However, I might still need to tweak it a bit to produce better results in the immediate future at a faster pacing.
The main focus of my trading system is to accomplish a target within 4-weeks time. The target of the trading system I am setting up is to gain 25% of total equity within 4 weeks. I started using this trading system on August 16, 2010, second week of August. I need to reach the target within 4 weeks time, at September 16, 2010.
The system requires aggressive positioning so I am also putting up an aggressive take on cutting losses. 1% from entry should do it. Position taken should immediately show profit or should not show loss at the very least.
Entry and exit will be confirmed by a set of technical indicators I have learned to use.
I am still learning basic fundamental analysis to get the bigger picture of the trade. So far, I have learned calculating book value and book value per share. Next should be intrinsic value which I have trouble learning until now.
I would also be incorporating pyramiding in my trading system to systematically reduce the risk exposed when taking up a position. The pyramid ratio I will be using will be 3:2:1. My main problem with this new set of rules of pyramiding is I still don't know how I would sell my accumulated position.
I hope to achieve the said target by September 16, my first month, so I can finally change my broker to drastically decrease the commission I am currently paying which requires me to gain 3% to break-even.
I will be starting the target from the proceeds of AP and ICT plus the losses I incurred with SFI and FGEN, plus my current position in FLI.
Gained 13% of the 25% target last week.
Out of 3 trades last week, 2 showed profits. I traded FGEN, FLI, and AGI last week. FLI and AGI showed profits while I immediately took loss with FGEN.
My new trading system seems to be working fine as it showed immediate positive results. However, I might still need to tweak it a bit to produce better results in the immediate future at a faster pacing.