HSBC 65% profit in 8 weeks

Finally i have decided to close most of my call warrants positions.

The last time i posted something about HSBC was a week or two ago. Here is the link to the post.
http://cathoon.blogspot.com/2009/08/hsbc-c5-jumps-30-today.html

Since 2 weeks ago, I already thought that the current uptrend was getting tired. Now I think the correction is already here. Correction has started. There were 2 big drops in world stock market in the last few days.

HSBC did not manage to break its resistance at HK$87.67. With current weak sentiment, I don't think the resistance can be broken without undergoing a healthy correction.

I bought HSBC-C5 at RM0.18 on 19 June 2009 and sold them all (RM0.285, RM0.29, RM0.295, RM0.305 and RM0.31) in the last few days. I am glad manage to make 65% in 8 weeks.

HSBC-C5 low liquidity did give me a big headache. If i were to sell all my HSBC-C5 in single days, i might push it into discount territory. That was why i could not sell all my HSBC-C5 at a single price on the same day. The trading volume was just too low.

Now I am preparing myself for a correction.

Ok, good luck.

GOon