Having come back from my Genting trip to realise my protective stop on ASL Marine has been hit is somewhat of a rude awakening, but not totally unexpected (my Swissco stop loss earlier already provides ample warning). More importantly, were my losses avoidable or unavoidable? I would say avoidable, because:
1) I have entered the stock market at the late rally stage of end May.
2) ASL and Swissco are non-conviction stocks (penny stocks) which would be the first to be sold in any correction.
Therein lies my problem - choice of stocks. I should be choosing only blue chips for my stocks trading from now onwards.
Update:
ASL: Profit $0
Swissco: Loss $180
It has not been a good trading month in June.
Where do I go from here? It all depends on my Capitaland position. If stop loss on that one is hit, then I think there is a possibility the market may turn for the worse. If it turns profitable, then I think this would be merely a correction amidst a uptrend that is still intact.
Thursday, June 18, 2009
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