I had a good chat with 2 of my clients and shared with them the ideas and content of the stock trading seminar I will be conducting and immediately they told me they are very keen to participate and wanted me to reserve 2 seats for them. It was a timely booster and I am now quite excited and will soon start marketing my seminar program. I asked them why they are so keen and they brought up an interesting point -- that I have not promise extra ordinary returns, just plain understanding of the market and how to increase wealth and make money consistently. Also because they can do it full time after work since it's only US shares I will be teaching and they will be trading. Full time? Well, US markets open at 9.30pm Singapore time and a disciplined trader can eat a nice dinner after work, take his shower, read the financial pages, relook at the charts of the stocks to buy and still have some time to have a beer. That's the beauty of my KUTE program.
So how did the market performed last night? Broad-based buying helped stocks bounce back from a dip at the open to log fresh highs for 2009, but the S&P 500 met resistance when it hit the 1100 mark, which was last seen just over one year ago. Strong gains in overseas markets helped set a positive tone for participants in the early going, but weakness in the financial sector quickly undercut the broader market's opening gain. So the market has performed to my expectation as mentioned yesterday.
As planned, I sold BHI at $46.96, made some tidy profits and bought into PTEN at $17.28. BHI had closed higher at $47.34, and PTEN closed at $17.44.
The recommended stock did well too. CAH was up 0.66% to close at $28.87, XTO up 2.3% at $45.90, EIX up 1.16% at $33.89, OSG up 2.54% at $46.02, Watts Water up 1.57% at $31.06. Digital River was down -0.93% at $24.56.
The only setback to my portfolio is Citibank which closed at $4.54, down -1.09%. Looking back I should have just stick to my KUTE system for ALL stocks to trade and not let my liking and emotion to over-rule. My only consolation is my money management system and Citibank is my 30% of 30-25-50 so I am not too worried and still believe that I will be soon in the money for this stock.
Have a great day ahead.
Francies Cheng
BBus MAppliedFinance
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