Australia market opened today, I set 2 buy orders at limited prices, 90 minutes later, the orders had not been filled. The market went up strongly.
So at the opening of Hong Kong market, I immediately bought 0.9 Unit in CMC account at a price of 24291.6, which is valued at SGD 3966 then. I used up all the available margin that was added after last night’s jump in other 2 holdings in WayFair and YY.
15 minutes later, Hang Send Index is little changed.
The world market is likely to go up again after staggering since about Feb. 20, 2017, that is about 2 months. Read more at today’s comment on world market.
Hong Kong Hang Seng Index has been a laggard so far.
I closed all the Hang Seng Index units between 23978 and 24023 on 2007.02.15, after the profits were high.
Then I switched the funding a few minutes later to a stock that has only 10% margin and still stayed relatively low: Celgene, and then sold it next day, and made big profits.
The index is still holding the assumption: going up.
The rest of the world markets keeps going up.
My only other holding in CMC , that is Ming Wah , starts to be profitable today.
So I used all available cash to buy as much as Hang Seng Index: bought 0.7 unit at 23710.
The index went up as assumed, so I was proven right. Then I set the stop loss level at 23,401 (above the purchased price of 23,378) to eliminate the risk.
Today, it has gone up as expected, so I bought one more index at 23,714 with a stop loss level at 23,401 also.
The assumption is the the index will keep going up with other markets in the world in the coming days and even weeks. It the assumption is not proven right, I shall get out.
The world market did not act as we anticipated, all started to drop like 0.5 ~ 1%.
So I closed the Hang Seng Index at 23,993 for a loss of SGD 48.5.
Then it dropped suddenly to 24040, and stayed there so far. It broke the support line of the past few days, breaking 5, 10, 20 day average lines.
China stocks initially had no correlation to Hong Kong markets, later on dropped 0.46%.
But Australia stocks have not dropped, but are still up strongly, now at 5965.
Thus it can not be concluded that Hong Kong market is a new sign of correction of world market, so it is a random drop.
Sina Finance says it is due to stricter investigation of capital market supervision in China, causing tighter cash flow.
Australia market opened today, I set 2 buy orders at limited prices, 90 minutes later, the orders had not been filled. The market went up strongly.
So at the opening of Hong Kong market, I immediately bought 0.9 Unit in CMC account at a price of 24291.6, which is valued at SGD 3966 then. I used up all the available margin that was added after last night’s jump in other 2 holdings in WayFair and YY.
15 minutes later, Hang Send Index is little changed.
The world market is likely to go up again after staggering since about Feb. 20, 2017, that is about 2 months. Read more at today’s comment on world market.
Hong Kong Hang Seng Index has been a laggard so far.
I am about to long Hang Seng in a small way. Here is a more detailed technical analysis.
I closed all the Hang Seng Index units between 23978 and 24023 on 2007.02.15, after the profits were high.
Then I switched the funding a few minutes later to a stock that has only 10% margin and still stayed relatively low: Celgene, and then sold it next day, and made big profits.
The index is still holding the assumption: going up.
The rest of the world markets keeps going up.
My only other holding in CMC , that is Ming Wah , starts to be profitable today.
So I used all available cash to buy as much as Hang Seng Index: bought 0.7 unit at 23710.
The index went up as assumed, so I was proven right. Then I set the stop loss level at 23,401 (above the purchased price of 23,378) to eliminate the risk.
Today, it has gone up as expected, so I bought one more index at 23,714 with a stop loss level at 23,401 also.
The assumption is the the index will keep going up with other markets in the world in the coming days and even weeks. It the assumption is not proven right, I shall get out.
Bought 1 lot at 23,378 with a margin of 213 SGD and a stop-loss at 23,101.
If it goes up as the assumption in the above picture in the coming few days, I shall add more to it.