Fishing in troubled waters

Stockmate · 1 Fishing in troubled waters Wed Aug 22, 2012 11:37 am

Stockmate

Manager - Equity Analytics

Posts : 193
Equity Stars : 5100
Reputation : 8
Join date : 2011-02-02
Location : Gampaha

Fishing in troubled waters is not appreciable in the society. But that is the strategy of wise investors. Currently the economy is bad. Share market down and touched the bottom. Rupee depreciated.SEC is also shocked. Nothing seems good. When everything is bad and it is "Troubled waters". If you can hold fish in troubled waters as much as possible. Foreigners are doing that wisely and tactically.
When the market touched the worst bottom around 4800 I was hopeful that it would be a strong bottom as I believe in Fibonacci 50% . (4800 precisely matched with 50% Fibonacci) I restarted charting. Things are turning positive. You would not believe that I was able to double my limited portfolio during the last three weeks. I did not touch fundamentally "great" shares. I followed only technicals. CSEC, ACME, YORK and PABC brought me luck.
Good luck

Stockmate · 2 Re: Fishing in troubled waters Wed Aug 22, 2012 11:41 am

Stockmate

Manager - Equity Analytics

Posts : 193
Equity Stars : 5100
Reputation : 8
Join date : 2011-02-02
Location : Gampaha

Do you know what journalists do. They run towards the "Blast" for news when all the others are running for dear life. That's how they make their living.

Dr_CSE · 3 Re: Fishing in troubled waters Wed Aug 22, 2012 5:26 pm

Dr_CSE

Manager - Equity Analytics

Posts : 152
Equity Stars : 4671
Reputation : 10
Join date : 2012-01-20
Location : Colombo 05

Dear Stockmate, would you kindly explain the entry points of above mentioned shares and the technical indicators based on which you decided to enter. This information will be valuable for the beginners of technical analysis.

Light of Hope · 4 Re: Fishing in troubled waters Thu Aug 23, 2012 8:23 am

Light of Hope

Vice President - Equity Analytics

Posts : 1014
Equity Stars : 5881
Reputation : 59
Join date : 2011-04-04

Stockmate, I'm a fan of you. Just tell me, when are you planing to sell those shares you bought during the last three weeks... today?

Hanoifortune · 5 Re: Fishing in troubled waters Thu Aug 23, 2012 8:46 am

Hanoifortune

Senior Manager - Equity Analytics

Posts : 478
Equity Stars : 5076
Reputation : 11
Join date : 2012-05-09

pls see below last six week prices, I do not see any shares you mentioned have doubled with in last three weeks.
CSEC
high/closed
9.80/9.50
9.30/8.60
9.10/9
9/8.70
9/8.50
10/9.
ACME
high/cosed
15.10/14.50
15.60/14.60
16.20/14.90
13.70/13.50
13.40/13.10
12.80/12.10
YORK
high/close
17.70/17.50
16.70/15.40
18.10/16.50
15.20/14.90
14.50/14.20
13.60/12.50
PABC
High/close
19/18.80
17.30/17
16.70/16.40
17.10/16.70
17.10/16.80
17.40/17

Stockmate · 6 Re: Fishing in troubled waters Thu Aug 23, 2012 10:12 am

Stockmate

Manager - Equity Analytics

Posts : 193
Equity Stars : 5100
Reputation : 8
Join date : 2011-02-02
Location : Gampaha

Hanoifortune
Have I told that I bought them in last three weeks?
Have I told that the share price doubled?
I have said that my portfolio doubled through profit gains during last few weeks
I bought YORK below 9 between 28/6- 10/7 .sold for 21 yesterday
ACME below 10.50 between 5/28-6/12 .sold for 15 on Aug 3rd
PABC below 16.50 not yet sold
CSEC bought and sold twice after May

If you monitor the price movement of shares and market index fluctuations making money is not difficult in any market. But you have to be concerned about the investment size. Now ASI 4800 is a lucky support for me. (Fibonacci 50% level)