Lost but OK

Good morning,

It was a sea of red last night on my trading screen. US markets were down last night with DJIA losing 1% to close lower at 10285.97, S&P down 1.03% to close at 1091.94 and Nasdaq lost 0.76% at 2172.99. USD gained strength last night and as mentioned in my Sunday’s KUTE stock selection for the week, commodity and energy prices will decline if it happened and it will be tricky trading the stock market. So it happened, so my positions are all in the red. I am always honest enough to write about my losses, because this blog is not intended for marketing promotion of my trading business, rather it is a diary of my thoughts, stock picks and records of my trades. Just a few days ago there was an article claiming that S&P 500 will break 2000 soon and we will all be celebrating the year end rallies. I hope that the senior analyst is right, for we all need a end year booster, don’t we? For my friends who are following this blog, I must made known that no system or forecast are 100% correct all the time, and it is always prudent to have good money management plan when trading the stock markets. Good companies will grow and the stocks’ prices will appreciate, but there may be turbulence along the growth path. A good money management plan provides liquidity allows for such bumpy ride and allow time for the stock prices to recover and regain the normal growth path. I am glad that I am still in the 30-20-50 rules and I can still sleep well.

Just a quick recall at my plan for the week which I copied from my Sunday’s blog; So my decisions for the week are: Wait for confirmation to buy NE; buy ICUI and; wait for DOX to dip to buy. As for NOV both the cycle trend and candlestick formation are bullish….

I have only bought DOX when it dipped last night, and I didn’t buy ICUI with CFD because it was not offered on the CFD platform. However I have placed the order with my broker to buy the stock (not CFD) at the price of last Friday’s close.

NOV was down 1.97% to close at $41.40 last night. I took another position at $41.55, so I have 4 positions for this stock now. None are in the money, but the week is still young and I have confident that it will rebound. DOX closed 1.38% down at $27.80, so my single position is in the red, though not as much since I bought at $28.20. NE was down 2.83% to close at $39.52, ICUI down 0.34% at $35.02 and HP closed $36.51, down 1.8%.

Have a great day ahead!

Francies Cheng
BBus MAppliedFinance