Sharing trading knowledge – the Weng Hon’s way, Thur Sep 16, 2010

Weng Hon has been very kind to agree to share with us his knowledge on share trading. He has attended two option courses years ago but he still feels the few days of learning is not enough.   However, he believes success begins with using one’s own hands, coupled with determination to succeed.  Putting in one’s own money also helps;

I have not set a date yet, although I will announce soon.  Asian equity markets are showing signs of upward movements.  And, economists are still unsure with US job data.  Seems good news dont last; bad news too.

Abel, RonaldL, HenryY, ChristinaP, RichardB, RobertO, HouChong, let’s keep hearing from you.  What’s your view this week?

The daet is now firmed for Thur Sep 16, 2010 from 1600 to 1800 hrs at the MPH cafe.

Terence Seah

Registration:

  1. Terence Seah
  2. Weng Hon
  3. Daniel Ong
  4. Alice Seah
  5. Peng Peng
  6. Steve Seah
  7. Peter Goh
  8. Bobby Bok
  9. SB Khoo
  10. Hou Chong
  11. Tricia Har
  12. Veron Wong
  13. Steven Ng
  14. Lina Ng

59 thoughts on “Sharing trading knowledge – the Weng Hon’s way, Thur Sep 16, 2010

  1. just a litte correction, Terence, I will just share my experience in trading in stocks, I know nothing about forex trading and have never traded in forex.
    thanks for your effort and leadership in initiating this chit chat. without you, things would just die a natural death. Hope more members will come forward and share their experences in investments.

    Weng Hon

  2. Hi Terence chief, & good morning to all, I just wish to say tht I’m firmly on the side of those who say tht the latest slew of property measures are a vote of confidence in our S’pore economy. Lately there are many peoples of other countries who advocate learing from S’pore, it’s heartening to know tht S’pore must hv done many things right.

    Hv a good week ahead cheers !

  3. One activity I notice many SilverHairs engage in when going into retirement is online trading, be it equities, forex, or even options. The belief is trading is easy, no boss to report to and you can do so in one’s own time. Many are relatively new; and the opportunity to make a couple of dollars can be very attractive, especially with higher cost of retirement living.

    The advice given by experienced traders are usually caution, caution and caution. Newbies accept this cautionary advice; but do not really understand what is this caution. Just, like our 2 year old kids, they won’t know what is pain until they fall down from the chair a few times. Even then, kids will keep trying to climb up the chair until they can sit on it without falling down.

    I am no big trader; but I guess trading can be a frightening experience. I guess newbies have to be patient too, and try to work under a mentor. We have to thank those who have shared their knowledge and experience, so that newbies can switch on to gear 1. However, about automatic gears in cars?

    Terence Seah

  4. Hi Guys

    The STI appears on an uptrend and those who can pick up(pay for the shares), buy the mainline stocks when the market pause or correct slightly.

    As a speculator, my timeframe is mostly not more than 48hours, thus my bearish suggestion to you Weng Hon on your previous enquiry on SGX. With due respect, unlike speculators where we aim to buy at the “lowest” price due to narrow trading margins, investors can buy at a “higher” price as your timeframe can be months ahead.

    Barring the unforseen, Genting Spore is definitely a $2 stock by middle next year when the resort’s play-stations become on-going operational.

    Property is still a good bet and watch dark-horse Ho Bee. Among banks, my money is on UOB as I beleive on percentage the stock will climb higher than DBS or OCBC.

    Unlike speculators, investors must do more reading in order that your investment decisions carry more “weightage” rather than “frivolity”.

    Caution can be translated into over-confidence which means my “bullishness” on Genting Spore should not encourage one of you to “dump everything on it”. A terrorist bomb explosion here can screw-up…………

    For those who are into short-term trading of say between ten and twenty days timeframe, the gradual STI rise should provide more than a score of trading opportunites. My take is to focus more on the Index stocks and selected Second-liners as listed in the daily STimes money-column.

    Regards

    Abel Tan

  5. I am more optimistic. I expect Genting to reach $2 within the next month.

    It was just slightly above $1 on 1st June and in about 3 months it has already reach $1.81.

    I just bought 20 lots at $1.75 on Friday. Unfortunately Genting is not a CPF approved stock or else I will have more ammunition.

  6. During the recent share investor seminar at MBS, Gabriel Yap said Genting is the most expensive gaming stock in asia, trading at very high PE..not sure is it PE60

    And the mgt also said there will be placement share.. I suppose the share price is played up for the placement… as they need more money for the 2nd phase, also debt right now if I’m not wrong…$4-6B

    I bought SGX (7.62), SembMarine (3.95), Guccoleisure(60.5cts)… will add more Beleive Bull is running now

  7. Hi Christina #6,

    How long do you plan to hold SGX and SembMarine, since the bulls are about to run loose?

    Genting seems to top the top volumes daily. I am not able to read the charts, but looking at the charts, are there any important dates to watch?

    Terence Seah

  8. according to sharejuncton.com, current year profit -277.565
    PE ratio -84.5 comments: overbought.
    I guess this share is for ‘hit’ and run and not for hold…
    anytime may come crashing down.. i may be wrong though

  9. UOB may go up to $20, according to Today online newspaper a short while back, but it seem to be hovering around $18…however the PE is around 15 which is good… I think can buy… but may hv to hold a short while

  10. I have been shorting Genting early this year due to huge losses suffered by their UK casino and make a few thousand but unfortunately the trend was reversed in late May and it start its ascend. Fortunately I managed to get rid of and in the process almost square off my profit.

    I have been watching the stock since then and wait for any new development. I turn optimistic on Genting after their 2nd quarter announcement.

    For the second quarter ended 30 June 2010 they make a net profit of S$363million compared to a profit of $28 million for the second quarter ended 30 June 2009.

    Further to that they will divesting their loss making subsidiary in UK which was a drag on their profitability for the last few years. This is another positive development for Genting.

    For the forthcoming quarter end 30 Sept 2010 there will be expectation of spectacular result thus the run-up in the stock currently.

    By the way I notice that information on shareinv or sharejunction MAY not be updated and it will good to verify with the information on SGX.

    These are my personal opinion and the usual disclaimer clause applies.

  11. Hi all, I am trading F&N, SMRT and Golden Agri. They all are running now. I use Moving Average Convergence and Divergence analysis to identify these good stock as well as some technique I learnt from a school.

    I found a Chat Room application that we can use to share to all.. ie… Acrobat. Acrobat has a cloud computing service call ConnectNow. It allow chat-conference and net meeting kind of applications without the need to install any software in your PC. I was thinking of using this as the platform for us to share information and chat at a pre-determined regular day time ( suggest Sunday night)
    However, it is free only for 3 persons. If more than that, have to pay about US$24 per month for up to 20 persons per session. What do you think?

  12. Hi Terence

    I am only trading in Forex, so I am unable to comment on the stock market.

    However, I would like to share my experience with some of you.

    Apart from trading, I also provide personal coaching to some Forex traders.

    From my observations, most traders have fewer problems in the trading strategies, but have more issues on the IT technical section.

    Most of them are new IT users and many a times encountered technical difficulties which are hindering their trading journey. As such, some are unable to trade effectively and confidently in the fast moving market.

    I am not sure any of you experienced the same situation?

  13. The date for the next Trading knowledge share with Weng Hon is now scheduled for Thur Sep 16, 2010 from 1600 – 1800 hrs at the MPH cafe, Robinson Road.

    Thank you Weng Hon, and I will be there too.

    Terence Seah

  14. Hi Weng Hon at message #12,

    If Genting is able to maintain or even better its spectacular result for the coming quarter (Sept) and there is no hiccup in disposing of its UK casinos, then it MAY hit the roof again.

    However if it turn the other way around (problem with disposal and the result is below market expectation) then I better run fast fast or else my profit will be wipe out again.

    This is my personal opinion. As per normal usual disclaimer clause apply.

  15. thanks Steven msg #16, there is always a risk, if we are always correct, then we are all multi millionaires by now.
    OK, Terence, date 16Sep is fine with me. Let it be clear that I am not teaching you all, but just sharing my experiences. from all yr responses, most of you are better than me.
    msg #14, Richard, IT is indeed a problem for me too…

    msg #13, Steve, good to hear u are learning fast, with due respect, most of us are careful when we hv to pay $ to learn. F & N, SMRT, Golden Argi and brand names, so are the local banks, SIA, SGX SPH and some others. These are always under our ‘radar’ screen… Abel is expert in this area. Not all of us can understand charts and tech stuff. So we hv to find a simple and low cost solution ourselves.

  16. Terence,
    As much as I wanted 2 attend this session but will b away n rtn on Thurs itself n not sure of d timing doe.. Will attend if timing is gum gum lor.. Cheers… Dolly

  17. msg #13, Hi Steve, another option is to use Skype which is free and has no limitation in the number of users.

    You just need to open a free Skype account and sign in to join the conversation.

    msg 17, Weng Hon, feel free to drop me a mail if you need any help on IT related issues.

  18. Hi Terence #7,

    How long do you plan to hold SGX and SembMarine ( not sure,leh Phillips economist at last saturday’s seminar said that if S&P would cross 1125..rally resume…if not, I may still hold for long term)

    Genting seems to top the top volumes daily (Genting is only worth 30cts, punters favorite..short & long term, in my opinion should be good as Ah Lim got vision, he cannot be wrong to bet $6B on RWS)

    God bless!! as Daniel Ong said “don’t forget of course that advice is cheap….”

  19. Tomorrow is 9/11., the 9th anniversary of the day in 2001 when 2 of 4 hijacked commercial airplanes brought down the twin World Trade Centre Tower in New York City.

    I was attending a close relative’s wake that 9/11/01 evening. All of us there were disturbed as we saw the situation over TV. The USD plummeted that night. On the folg day, I initiated a buy of USD in the office – seeing a psychological over-reaction in the market. As expected, USD rebounded in the next few days and we were able to book exceptional FX gain. The event provided useful lessons about the market during a crisis of this magnitude.

    I attended a talk yesterday about the “Power of Numbers”, related to the belief that Numerology is the driving force of Metaphysics Science. 9/11/10 is a Sat.,and Fin markets are closed – TGIF.
    HC

  20. Hi Weng Hon,

    We have one computer at the cafe. However, it is intended for advertising use only. Sorry.

    Those who bring their own notebooks can make use of the WIFI facility.

    Terence Seah

  21. Hi SHCians

    We did only one trade during the past holiday-shortened week ie. on Monday 6th, we hit-n-run Noble on 10 lots @1.66/69.

    Tuesday 7th – q to buy Genting 1.75 (lowest 1.76)
    Weds 8th – q to buy Genting HKong US40.5cts (low 0.41)
    q to buy DBS 14.06 (low 14.10)
    Thurs 9th – was behind q @ 3.03 to buy Sing Tel

    The two Genting stocks will still be punted and we shall “short” Genting 1.92 and Genting HKong US 0.49 if these prices are attainable by 9.45am Monday 13th.

    Regards

    Abel Tan

  22. Just sold my 20 lots of Genting at 1.98 which were bought at 1.75 about two weeks ago making a gross profit of $4,600.

    Also sold part of my STIETF (20 lots) which was bought at 2.88 for 3.10 using my CPF funds about six months ago.

    Tried to buy OSIM for 30 lots @ $1.02 without success and may try again the next few days.

    I am expecting the market to make some correction within the next few days and may come into the market for some good value stock.

  23. Hi Terence/Weng Hon,
    Please include me for the chit chat session.#31-Congratulation Steven for making a good profit on Genting. Today there is a business write up and a buy call for Genting by CLSA Asia-Pacific Markets @$1.83 and their new target price of $3.00 implying 64% upside. This is one reason I believe that made Genting to shoot up to $1.99 at the close. Because the US senate/congress election is in mid November, the politicians(including the president) in US will made the economies and the stock market to look good for the months running up to their election. However for the month of Sep and Oct historically it is a very volatile period and big down swing may occur. Please be alert and cautious; Good luck to your trading, cheers..

  24. Hi Daniel, Alice, Peng Peng, Steve, Peter and Bobby,

    I look forward to your coming and sharing the information discussion ib tradubg – the Weng Hon way. Markets are getting exciting. TODAY carried a strong and positive note on the Asian equities market.

    And, well done, StevenN. If I follow you, I may be able to make $1000 a month during my retirement.

    Terence Seah

  25. it would be more of a sharing than teaching. Congrats steven for the good profits.
    Terence, yr $1000 target seems easier to achieve. However, to get the $4000 + profit, as in Steven’s case, one has to fork our $35,000.00 + first.
    Of course you can buy less and earn less.
    Dis advantage of stks is high capital and low profits.
    of course You can contra, with 0 capital,,, but if stk price goes against you… than you still hv to come out $$$.

  26. You cannot depend on stock trading for constant income. Sometime it take months if not years for cautious trader/investors. If you are too aggressive your net egg MAY disappear in no time.

    For security purposes I have focus most of my time on internet marketing – this will be my main income in years to come. It will take effort and time to do it but reward will be tremendous after you are able to establish your credibility and the know-how required.

  27. “?net egg???”? Why do you want to net an egg?

    You net birds bcos they hv legs to run and they run faster than you.

    Found an egg that has legs too?

    The mystery deepens, thickens……

  28. Hi Weng Hon and Terence

    I have been following with interest the recent activities (talks) on investments/trading. I think most retirees (I am one) and close-to-retirees are fascinated with shares/forex/etc trading because 1) it is a good way to pass time 2) there are many people doing it so it is easy to find people of similar interest 3) it is a good way to keep the brain active and 4) hopefully, we can make some pocket money.
    I have been trading shares for many years. However, I hasten to add that I have no systematic method. My main approach is anyhow hantam. So, I am keen to learn from people who have more system than me.

    If there is still a place left for this Thursday’s (16/9/10) session by Weng Hon, could you include me ?

    Thank you.

    sb

  29. hi Hou Chong,
    you are welcome, we all have our own way of trading, for me I want to be flexible, changing my mindset when it is wrong or not working well. Good to listen/learn and think of improvements daily

  30. Thank you Hou Chong, StevenN, Steve, Abel, Peng@, Bobby, Weng Hon and many more on your feedback regarding the SHC investment club. So far, the responses from the trading discussions have been progressing steadily and have excited a lot more focus on this area of handling retirement and investment funds.

    Yes, the next gathering for the SHC investment club will likely be large, and will allow more members to network and chat in these areas. Keep your ideas coming, and we should have something set within two weeks.

    Keep trading, share your buys and sells, send in your thoughts on the markets, equities, gold, currencies, etc. If you lose some money, share too. This is more exciting. Your participation will set the pace for the invetment club.

    Have fun.

    Terence Seah

  31. lookin forward to the next gathering.
    Bought DBS around 26sep10 @$13.88 due to some ‘good ‘news..
    however it seems ‘weak’, so i managed to contra if off @$14.02…. a bit panicky move, made very small amount.
    Bought STI ETF around 6sep10 @$2.98, now the price is around $3.13. according to history indexes will eventually go up with time, but i am tempted to sell if it goes a bit higher
    According to my UOB fund manager, Genting SP is still a good buy, will go up further…guess i will try to Q lower?

  32. Hi Weng Hon #52

    DBS – would appreciate your sharing if you r still keen on DBS, if so at what price? after todays article on the Straits Times should be S$14 above??

    Thanks n cheers plus have a nice weekend ahead

  33. I dont think share trading will ever become a rocket science in which one can calculate/pre-set a number and work towards it.

    When the tide rises, even an elephant defies its weight. When the sea becomes dry, crabs run. Fishes cant run, struggle with a few flips before ending up as salted fishes for an easy fishermen’s harvest.

    Believe the old adage “Buy on rumours, sell on news” is still very much alive.

  34. Hi Weng Hon,

    I have already sold all my STI ETF ranging from 3.115 to 3.14 which I bought it during a period of nine months (2.78 to 2.89) and in the process also collect a few thousand dollars of dividend. Unfortunately these are CPF funds and formed part of my retirement funds.

    Sold and bought Genting during the last few days and in the process loss about $800 for about 25 lots.

    Thinking about buying again before the announcement of their quarterly result – expecting it to drop below $2 or even below 1.90 before rebound again.

  35. hi fredalim,
    for DBS, just below $14.00, may be a good buy. this stk is more for holding for a while. Not good for contra, as it needs to go up by 20 cents to make $101.18. unless one has
    deep pockets or steel nerves to buy more.
    The charts look likes This stk is inching up and the EMA seems like crossing, indicating uptrend and its near the support line. news is good too.
    However, bear in mind that if some bad news or US stks falls than … one can never be sure.. I am also not an expert in charts.. aga aga only… disclaimer.. my opinion only

  36. hi steven,
    thks for feedback
    guess i will hold my STI ETF for a while.
    regarding genting..watch closely first

    hi Tim Liu,
    you are partially right..we are mostly lazy.. want fast money with little effort. However, talking to some successful professional traders,they have put in a lot of sweat and tears before ending well. So, for me, there is a lot of things that we don’t know, so cannot jump to conclusions base on our experiences only

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