HK Stock Picks Oct. 25
Thursday, October 23, 2008 20:38
I should note a warning especially for readers who follow my ideas in this treacherous market to rigidly stick to your cut loss levels. When the market is not agreeing, take profits (when you’re still up) or square off with as small a loss as possible.
Just as I had written that I went long two stocks, China Tracker (2823 HK) and China Cosco (1919). at levels of 9.00 and 4.48 respectively, I have also taken them out two days ago when the Hong Kong market was crashing. There should be trailing stops, especially when one is ahead. I was able to get out of my holdings at 9.30 and 4.60 respectively. This represents a very small profit but at least I got out alive. When market is not cooperating, just simply get out.
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