don't wanna miss a thing
Normally, I'd wait till weekend to post about my position in the stock market. But the market has made quite a very interesting turn these past few days. These last five days of downward spiral wiped more than 2 months worth of gain. How's that suppose to be interesting? The downward plunge is sudden, very steep and across the board.
The first 3 days were taken by many as a simple healthy correction. But come Thursday, blood splattered all over the trading floor. People panicked. This made me see the market in it's ugly form. I suddenly remembered that the market is constantly undergoing cycles. And sometimes people felt comfortable of the uptrend, forgetting that there's always a downtrend to balance the market.
I'm caught up in the stampede. Acquiring and dumping securities in a matter of hours. I saw my portfolio bleeding profusely. I was able to buy at low prices but the securities continued their downward trek and recovered marginally at the closing bell. It continued today and It might continue tomorrow.
Who's selling? Why the sudden turn? Where the market is heading?
ATR Kim Eng and CLSA are selling huge volumes from their holdings (AGI bottomed at -14% on Thursday before bouncing back to close at -5%). Long-delayed profit-taking were the main reasons for the market correction. Experts saw this as very healthy to sustain the market in the long run. Besides, corporate earnings are still relatively good.
I learned valuable lessons in the past few days. It was through my trade mistakes that I took a good look at my strategies again and realized it was not as stable as I thought. This is a continuing learning process for me and I'm loving the challenge.
Here's a summary of my trades for the week so far:
- Sold IP at a very marginal gain.
- Bought and Sold AT at a loss.
- Bought RFM at 2.06 and 2.01
- Bought and Sold AGI at a marginal gain
- Bought MEGW1 @ 1.50, 1.51, and 1.45
Now, let's relax and see where these stocks will take me.
 | |
| And now I'm fallin', fallin' fast again |
The first 3 days were taken by many as a simple healthy correction. But come Thursday, blood splattered all over the trading floor. People panicked. This made me see the market in it's ugly form. I suddenly remembered that the market is constantly undergoing cycles. And sometimes people felt comfortable of the uptrend, forgetting that there's always a downtrend to balance the market.
I'm caught up in the stampede. Acquiring and dumping securities in a matter of hours. I saw my portfolio bleeding profusely. I was able to buy at low prices but the securities continued their downward trek and recovered marginally at the closing bell. It continued today and It might continue tomorrow.
Who's selling? Why the sudden turn? Where the market is heading?
ATR Kim Eng and CLSA are selling huge volumes from their holdings (AGI bottomed at -14% on Thursday before bouncing back to close at -5%). Long-delayed profit-taking were the main reasons for the market correction. Experts saw this as very healthy to sustain the market in the long run. Besides, corporate earnings are still relatively good.
I learned valuable lessons in the past few days. It was through my trade mistakes that I took a good look at my strategies again and realized it was not as stable as I thought. This is a continuing learning process for me and I'm loving the challenge.
Here's a summary of my trades for the week so far:
- Sold IP at a very marginal gain.
- Bought and Sold AT at a loss.
- Bought RFM at 2.06 and 2.01
- Bought and Sold AGI at a marginal gain
- Bought MEGW1 @ 1.50, 1.51, and 1.45
Now, let's relax and see where these stocks will take me.
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