Tuesday, January 03, 2006
Ho Bee Investments
This is the first time i have posted an entry twice in a single day. What could warrant such a strong notion to write down my current feeling? Money off course! However, this is only indirectly linked to money and i want to pen it down to remind myself.
Sometime in November i was vested in Ho Bee at 0.63. I wanted to have bigger capital returns rather than to let the money idle in my bank account and not serve any purpose. I knew this counter would rise based on its solid fundamentals. In fact, many analysts placed a target value of 0.73 It was a company involved in property development and it posted strong profits. Furthermore it also had several upcoming key property developments. For example, it successfully bidded for a few sites at Sentosa Cove, the future residential site for the high society. Ho Bee would definitely benefit and post even stronger profits after the completion of Sentosa Cove.
Naturally, i was delighted when the stock was beginning to rise and it touched 0.67. However the rise to 0.67 was shortlived and it went sideways for an entire month hovering aroundn 0.65. My cashflow was tied down by this counter and after it failed to break the 0.67 strong resistance repeatly, i gave up. I sold the stock at 0.65 and had a 3% ROE. Of course, it is much better than the meagre interest you get for your bank account. Towards, the end of december, it started to test the 0.67 strong resistance and it finally broke it. Today, the stock rose even higher and it broke the 0.70 resistance. Currently, the price of Ho Bee is at 0.71, only 2 cents more to reach the predicted value. I can only say that the market is becoming more and more upbeat and confident.
At the back of my head, i was thinking to myself, had i waited slightly longer, i would have hit the jackpot. The reason why i want to write down this entry is to constantly remind myself not to harbour such intentions. GREED! Greed is one of the biggest reasons why many newcomers fizzled out from the stock market within 6 months of their entry. I was determined not to be these newcomers. Life in the trading world is tough, only those with strong discipline and sound knowledge will Succeed!
Sometime in November i was vested in Ho Bee at 0.63. I wanted to have bigger capital returns rather than to let the money idle in my bank account and not serve any purpose. I knew this counter would rise based on its solid fundamentals. In fact, many analysts placed a target value of 0.73 It was a company involved in property development and it posted strong profits. Furthermore it also had several upcoming key property developments. For example, it successfully bidded for a few sites at Sentosa Cove, the future residential site for the high society. Ho Bee would definitely benefit and post even stronger profits after the completion of Sentosa Cove.
Naturally, i was delighted when the stock was beginning to rise and it touched 0.67. However the rise to 0.67 was shortlived and it went sideways for an entire month hovering aroundn 0.65. My cashflow was tied down by this counter and after it failed to break the 0.67 strong resistance repeatly, i gave up. I sold the stock at 0.65 and had a 3% ROE. Of course, it is much better than the meagre interest you get for your bank account. Towards, the end of december, it started to test the 0.67 strong resistance and it finally broke it. Today, the stock rose even higher and it broke the 0.70 resistance. Currently, the price of Ho Bee is at 0.71, only 2 cents more to reach the predicted value. I can only say that the market is becoming more and more upbeat and confident.
At the back of my head, i was thinking to myself, had i waited slightly longer, i would have hit the jackpot. The reason why i want to write down this entry is to constantly remind myself not to harbour such intentions. GREED! Greed is one of the biggest reasons why many newcomers fizzled out from the stock market within 6 months of their entry. I was determined not to be these newcomers. Life in the trading world is tough, only those with strong discipline and sound knowledge will Succeed!
# posted by guanoe @ 3:56 PM 
