Chartered has a nice uptrend wave with a solid Fibonacci fitting!

I am still losing money with Chartered shares. Besides waiting for the semiconnductor manufacturing recovery, the beautiful wave shown by CharteredSc tell us some story.

In addition, the stock price retraced back to 61.8% which is a solid Fibonacci retracement level. I should have bought more shares when the share price at $1.80. Frankly speaking, I was panic when it hit $1.80 and worried that whether the stock price will go lower WITHOUT looking at the chart (another lesson learnt for not analysing the chart constantly!). I am waiting for a big correction to happen before I invest this stock again. Isn’t it a good stock to monitor as the company is going to be profitable again in the next one or two quarters and the chart is showing us a very nice wave? It looks more predictable on the stock price now.

IPO Stocks

Looking back, one of the mistakes I made previous was to buy IPO stocks. I still can remember using ATM to subscribe IPO stocks that I did not even know what is the company is about. The impression I had last time was it was very easy to make money from the IPO offering. You subsribed the share for $0.10 and the 1st trading days it would shoot up to 100%! It was the easy money, wasn’t it? However, we would never go and sell the share as our greed told us that it would go higher and higher and made money $$$! At the end of the day, the price would drop back to even lower than the IPO price. I have lost money with Del Monte, Dynamic, Giant Wireless, Valuetronics and Eastgate that my record is almost 100% (LOSING MONEY!!) I have got rid of Del Monte and Dynamic two weeks back and still holding Valuetronics.

Lessons learnt: Do not anyhow buy IPO stocks unless you are VERY VERY SURE it is a good company with very good business prospective and fundamental. Anyway, it is always a gamble to buy IPO stocks as there is no historical data for us the assess the stock price. It can make money very fast and also make us lose money as fast!

Singapore Stocks

Personally I feel that those STI index component stocks prices were over value. I am waiting for the correction before re-look into those blue chip stocks again. At the moment, I am investing with those penny stocks with good fundamental and have shown some good bullish momentum lately.

Stocks with good fundamental & good future prospects:
(1) Best World
(2) Hongguo
(3) China Fishery

Stocks with bullish momentum recently
(1) Meiban
(2) Sunning Tech

I started to clean up my old portfolio (1 lot Del Monte, 3 lots Dynamic) that I don’t even know why I bought them at the 1st place. However, it is never too late to correct my past mistakes and start my proper investing again.