Market have been selling down for the past week, one good thing about Metastock is the Scanner is really useful to do a filter for stocks. However, the interpretation of the results is the one that make you profitable. This list of stocks are currently the Strongest stocks, that is still standing after STI wipe away 150 point in 6 days.
For trend followers: The key is not picking the right stock, but to ride the right trend till it bend.
Some conclusion from the scan result:
1) Big boys are still holding these stocks
2) Most of these stocks are lower than 80cents (Small cap), small cap may run when there is a technical rebound in the market? *** HIGH RISK, pls prepare 10-15% stoploss
3) This list get shorter and shorter than previous week, even you buy some of these.They might turn weak as market turn weaker. Big boys may also give up on these stocks, but if they are still holding right now, they probably continue to hold longer because not much people going to buy these stocks, at this time. Most people will look at "Bargain hunting" which is buying stocks that drop alot, so big boys will continue to push higher until they got enough people to sell to.
Every single successful trader ever interviewed as far as I have read has said something along the lines of “Cut your losses short”,”Let your winners run.” “Pull the weeds, water the flowers”.
“The elements of good trading are cutting losses, cutting
losses, and cutting losses.” -Ed Seykota
Register for Up Coming Events
Discover the Right Trend in Q3 2013
8 June 2013 @ SGX Auditorium 10am-12pm
http://discovertherighttrend.eventbrite.com/