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Thursday, March 1, 2007

Lessons Learned: Lookout for Technical Sound Stocks

Okay, I'm one of those people who got shaken out by the heavy sell-down. Everybody was panicking. To calm everyone, all of us trader from the absolute community logged on to our private chat room to comfort one another. Yup! Post-Valentines Day! Market was RED! Bloodbath! Wound-Licking Wednesday!

I've liquited my position because I want to buy stocks at discounted price. I know the market will do a rebound soon. But for how long? For someone like me, I can't wait. My thinking - is to cut-loss and position and take profit. Remember the Reward and Risk Ratio? So, perhaps I'm now down to 10% but with bottom-picking of stocks. I might recover my losses. Who knows I might exceed that and add something to my portfolio :)

Master Danny Go earlier shared that there's a shake-off one must not panic during market correction. Duh! I have to admit I'm still turtle learning with this Technical Analysis. I've attended Batch 11 and Batch 13 of the Basic Class because I still need to refresh myself. And, I think I still need to attend the Batch 14. Hehehe! I'm glad Master Danny Go and Master Bonner Dytoc are so re-assuring.

Anyway, to position tomorrow Master Danny shared that look out for technical sound stocks.

  1. Stocks that are trending
  2. Has the volume
  3. Returning - "pull-back"
Some stocks to watch: PCOR, PX, EIB, OM, TEL, MERB, MHI and BAL

Wait, I've to verify the stock mentioned above. I just took note of it. :)