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Friday 6 September 2013

Lock in profit

With the US senate approve Syria war on last Wednesday night, I quickly sold off Airasia at RM2.61 on Thursday morning anticipating more conflict to come as Syria war is a sensitive international issue. My guess was right when Russia presiden voice against US by supporting Syria. This will definitely going to be very huge impact to the stock market if US still go on with the strike. This again can cause a panic selling and will be a good entry to catch a rebound later on.

Besides Airasia, I also lock in profit for 2500 units Supermax at RM2.75 on Thursday because RSI already more than 70 meaning its highly over bought this few days. Left 2500 units to see whether it can still continue with the rally as the situation is benefiting the company. Continue collecting cash to anticipate for more market fluctuation. My strategy is to catch rebound by looking for good fundamental company that strike RSI below 30. I think RSI and MACD is really useful tool for short term investment. Good luck and let see how is the market next week.

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