Review of trades in week 12-16 May 2008

2) Singtel (Bought on 9th May 2008)

Long
Entry price 3.66
30 day ATR 0.09
1.5X ATR30 0.135
Cut loss stop on 1.5ATR30 3.525
Recommended cut loss 3.57
Loss on recommended cut loss -231.2547714
Target price 3.89
Profit on target price 406.476691
Reward/risk ratio 1.757700775

Last done price 3.71
Paper profit = $40

2) COSCO
BOUGHT 2 lots 15 May 2008

Long
Entry price 3.51
30 day ATR 0.2
1.5X ATR30 0.3
Cut loss stop on 1.5ATR30 3.21
Recommended cut loss 3.23
Loss on recommended cut loss -607.7810732

Target price 3.89
Profit on target price 707.540068

Reward/risk ratio 1.164136396

Last done price = $3.56
Paper profit = $42



COSCO broke out of a 7 day channel and also above the downward trend line from 2 April 2008.

I will be leaving for a holiday on 4 June 2008 and will return on 19 June 2008. As a result I am not too keen to enter into trades where I am not familiar with the stock fundamentals. I also have a preference for defensive counters at this time due to this as well as the uncertainty of the markets.

June 25 will be the FOMC announcement and I would prefer to wait till then before deciding what my next move will be. Position sizing will be the key after 25 June 2008. So my trading record will be a lot quieter for the next two weeks. I am looking to buy Starhub at around 2.80. Defensive counters.

But I think the shipping sector looks to be strong.