It looks like KLCI is not going down any sooner. However, the volume is low !
Monday, August 11, 2008
10:59 am - Weekly Report from Bill Wermine.
Dear Traders,
The Man essential fund is now closed and I congratulate those of you who subscribed. You are positioned for extreme volatility, uncertainty, fear, panic in world stock, currency and commodity markets. You have some of the top trading specialists in the world to help you profit when almost all the sheep investors lose. I personally made a small investment in Man Essential to diversify my local investments.
It takes a tiger heart to swim against the overwealming fear. doom and gloom, bad news and political turmoil facing investors in the KLSE. Let me share some wisdom
from Justin Mamis, a partner in a specialist firm at the NYSE and writer of a classic out of print book The Nature of Risk. A specialist is a market maker and his job is to maintain an orderly market in the shares he operates.
In a panic selldown he is obligated to step in and buy when the crowd is selling. In a market rally he is obligated to sell when prices are going up. He is the ultimate contrarian and guess what: the average income of a NYSE partner specialist is USD 25,000,000 per year. It is one of the most coveted business opportunities in the world. They make their money by exploiting the emotions of sheep investors who are the majority of players.
Biography of Justin Mamis which gives insights into managing risk:
Justin Mamis reveals the great paradox of making money in the market : the less you know about a stock or company, the better off you are.Now, in The Nature of Risk, this Wall Street insider offers his zen-and-the-art-of' look at how to use risk as a positive force in the stock market and in life.From choosing and following a stock, to investing and selling, Mamis explains how to keep risk at bay.And he points out that in the market, as in life, sometimes the biggest risk of all is not taking the risk.While Mamis's notions often go against convention, they are crucial to good market sense : he explains why, for example, the need to be sure about a stock actually increases one's risk ; why hedging techniques do not work ; why the market is not an efficient animal.An expert technician, Mamis advises investors to rely on the charts to understand the market - because the charts never lie ; they anticipate, and Mamis tells you how.Accessible, straight-shooting, fun to read, and full of real-life anecdotes, war stories, charts, and plenty of hands-on advice, The Nature of Risk is must reading for anyone involved in the ups and downs of Wall Street trading....Justin Mamis has been an executive at the NYSE, a partner in a specialist firm, and the author of two successful books on the stock market, How to Buy and When to Sell - acclaimed by Christopher Lehmann-Haupt in the New York Times as the best explanation of the technician's point of view I have ever come across.
You may go to Abe Books using Google search and buy these books at a reasonable price as they are second hand and out of print. For those who use TradeGuider software and understand the dynamics of price and volume Manis reinforces the usefulness of these indicators. In fact these are his primary trading tools.
have a good week
Bill
The Man essential fund is now closed and I congratulate those of you who subscribed. You are positioned for extreme volatility, uncertainty, fear, panic in world stock, currency and commodity markets. You have some of the top trading specialists in the world to help you profit when almost all the sheep investors lose. I personally made a small investment in Man Essential to diversify my local investments.
It takes a tiger heart to swim against the overwealming fear. doom and gloom, bad news and political turmoil facing investors in the KLSE. Let me share some wisdom
from Justin Mamis, a partner in a specialist firm at the NYSE and writer of a classic out of print book The Nature of Risk. A specialist is a market maker and his job is to maintain an orderly market in the shares he operates.
In a panic selldown he is obligated to step in and buy when the crowd is selling. In a market rally he is obligated to sell when prices are going up. He is the ultimate contrarian and guess what: the average income of a NYSE partner specialist is USD 25,000,000 per year. It is one of the most coveted business opportunities in the world. They make their money by exploiting the emotions of sheep investors who are the majority of players.
Biography of Justin Mamis which gives insights into managing risk:
Justin Mamis reveals the great paradox of making money in the market : the less you know about a stock or company, the better off you are.Now, in The Nature of Risk, this Wall Street insider offers his zen-and-the-art-of' look at how to use risk as a positive force in the stock market and in life.From choosing and following a stock, to investing and selling, Mamis explains how to keep risk at bay.And he points out that in the market, as in life, sometimes the biggest risk of all is not taking the risk.While Mamis's notions often go against convention, they are crucial to good market sense : he explains why, for example, the need to be sure about a stock actually increases one's risk ; why hedging techniques do not work ; why the market is not an efficient animal.An expert technician, Mamis advises investors to rely on the charts to understand the market - because the charts never lie ; they anticipate, and Mamis tells you how.Accessible, straight-shooting, fun to read, and full of real-life anecdotes, war stories, charts, and plenty of hands-on advice, The Nature of Risk is must reading for anyone involved in the ups and downs of Wall Street trading....Justin Mamis has been an executive at the NYSE, a partner in a specialist firm, and the author of two successful books on the stock market, How to Buy and When to Sell - acclaimed by Christopher Lehmann-Haupt in the New York Times as the best explanation of the technician's point of view I have ever come across.
You may go to Abe Books using Google search and buy these books at a reasonable price as they are second hand and out of print. For those who use TradeGuider software and understand the dynamics of price and volume Manis reinforces the usefulness of these indicators. In fact these are his primary trading tools.
have a good week
Bill
9:26 am - Chart of the Week - SP Setia
SP Setia finally break above rm 3.15 but the volume is not convincing. Shud you buy it, put your stop loss rm2.85
9:10 am - KLCI is trying to build a base at 1118/11120
KLCI has to break 1131 and close above it to have some chance to stage a mini Budget rally.
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