A quick brief review of my trading since August's posting, I made several trades and was really close to recover my near $10K loss from Midas. Currently I am 100% in cash, there's been some short term oversold signal from US market which past 2 days had pulled back alittle. I cant really tell if its a uptrend reversal to downtrend or simply a pull back.
Above is a screenshot of my records, you can click to open the full size to view.
YTD I am still down by about $300, am 100% in cash now & monitoring the market for new signal.
Various bearish divergence signals had went on in S&P500 for some times, some SGX listed stocks also seem to have hit their weekly moving averages which by the way had been down, so its a matter of I am wrong and markets push above their moving averages or more likelihood that they resume their downtrend for a little while before presenting potential buying signals to rise again. One example is OCBC below which I have traded several times since July 18. Fundamentally I thought interest rate rise means better interests income despite various challenges from home mortgages which is slowing and trade war fears. Nonetheless chart wise, the last drop April to June had caused the uptrend to reverse into downtrend, and recent rises had not change the weekly moving averages. The steep MACD-H histograms usually suggest the bear is quite strong and past 3 months is just consolidating, the support line of $10.80-$11 had also been tested several times, with a downside breakdown risk increasing especially with lower highs in early August 18 when it hit $11.80 & the lower high at $11.57 2weeks ago. OCBC is only one of the many counters on SGX, many other counters showed similar patterns. So when unsure, I shall step aside & pray that I am wise to enter at the right time and price for as many of my future trades as possible... Amen...
See you again in 1-2months time.
