In the 18 July 2009, I posted something about Bursa Malaysia(http://cathoon.blogspot.com/2009/07/bursa-malaysia-berhad-set-to-double.html). I did not trade Bursa Malaysia. I am more interested in call warrants, so i traded Bursa-cl.I started my position on 18 June 2009 at RM0.44 and again on 16 July 2009 at RM0.515. During that time, Bursa had yet to released its quarterly report. I was confident it would certainly release a better-than-last-quarter result. I thought a good result would be a good catalyst for Bursa to climb upward after it had been moving side way for around 2 months, so days before Bursa was scheduled to released its result, I bought more bursa-cl.
On 20 July 2009, Bursa Malaysia released a quarterly result better than the result anticipated by analysts. Since then, Bursa had been climbing up and up.
I was thinking it was very hard for bursa to go down since the average trading volume for KLSE was climbing up. Surely Bursa would make lots of profit out of the high trading volume. That's why I considered Bursa-cl to be very "safe" trade.
On 12 August 2009, I sold all bursa-cl in my portfolio for a few reasons. 1st, on 11 August there was a big drop in US and Europe stock market. Second, the next day our KLCI responded to US and Europe stock market, Bursa dropped 2.6%. That was a big drop and i thought Bursa uptrend would have been broken. I sold all my bursa-cl at RM0.645 and prepared for a correction.
In this trade, I managed to get 37% in 7 weeks.
Last friday, there was another big drop in US and Europe stock market. I really think a correction is starting to emerge.
Ok, good luck in your trading.
GOon
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