Do you know that we have 5 friday's, 5 saturday's and 5 sunday's this October? :) Hope you are enjoying your weekends! This coming weekend, I'm going to the CWC to participate in a dragon boat race :) Wish our team luck!
Now, how is dragon boat related to stock trading?
Team members = Market
Boat just floating = Waiting
Boat about to race start = Buy on breakout
Boat gliding = Ride the flow of the trend
Approaching floating Buoy markers = Increase position/Increase stops
Boat approaching the finish line = Prepare exit strategy
So how do you win the race or have an edge in stock trading?
In racing, the boat needs to have a very strong force right when the gun bangs! You need to 'react' fast and increase power as you move. With a very powerful race start, the glide of the boat will be better and paddling would be lighter. Also, you don't need to paddle fast. The important thing is strength and that the team are moving all at the same time.
In trading, you have to buy on strength or react with the market and try not to predict the moves. Plan ahead then react fast with your plan. Increase position as the stock moves with your trend to increase your profit potential.
Buy/Hold:
SCC
ACR - Buy the dips. Watch out for 1.50 - 1.60 resistance area. If taken out, buy more!
AP
APC
CHIB
GMA7/GMAP - Hold
Buy on breakout:
ANI - Buy on breakout. Double bottom resistance 18.75 - 19.25.
AT - Ascending triangle forming. Buy if 16.50 is broken with volume.
JFC - Buy on breakout. Resistance is 92.
RFM - Buy on 2 peso psycho breakout.
Buy as long as support holds:
CMT - 1.80 support.
MPI - 3.94 support. Moving in a clear uptrend channel since August.
RLC - 16.50 support. Cup and handle still intact.
PX - 14 support.
LPZ - 6.00 - 6.10 support area. About to reach 7 pesos cup and handle target.
MEG - Range trade 2.20 - 2.40.
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