HK portfolio did well despite indices rout, thanks to a penny stock. Market action (13 Sep 2021, Mon)
SG(risk-off) HK(risk-on) CN(risk-on)
| Stock index | Daily change |
|---|---|
| Hang Seng Index | -1.50% |
| Straits Times Index | -0.79% |
| CSI 300 Index | -0.44% |
| ASX 200 | -0.36% |
| Nikkei 225 | 0.34% |
| NASDAQ 100 | -0.04% |
| S&P 500 | 0.23% |
| Dow Jones Industrial Average | 0.76% |
| S&P 400 mid-cap | 0.62% |
| S&P 600 small-cap | 0.78% |
I received mixed signals for the Hong Kong market today. The HK stock indices suffered a rout (HSI -1.5%, HSTECH -2.41%, HSCEI -1.58%) but my portfolio did pretty well despite the indices rout. This was partly thanks to 257.HK (China Everbright Environment) which surged 9.47% again after the earlier surge I enjoyed after a lucky timely purchase. Another penny stock that I bought earlier surged 16.07% today followed by an earlier surge of >7.5% on 8Sep2021. This penny stock is 1205.HK (Citic Resources Ltd). 1205.HK has already gone up a lot. I am enjoying a gain of over 25% after holding the stock for only about a week (bought on 8Sep2021). I do not think it is safe to buy at this point. Maybe after a price retreat.
Disclosure: Do not follow my stock picks and get unrealistic expectations when I reveal market timing stock picks. For each impressive winner, I have more losers. I am profitable over time because I make much more money from the few winners to compensate for the many losers which I usually lose small.
Penny stocks are risky bets. When they work, they shoot up quickly a lot. When they fail, they crash quickly a lot too.
Due to the weak HK stock indices, I will be extra-cautious in buying HK stocks.
Action for HK market (risk-on):
- Look actively for buying opportunities to place on watchlist.
- Buy when good stocks appear on watchlist and price is within buy range.
It was a good day for China portfolio. This is a good sign after the losses on the previous trading day. It indicates that the rally in China market is still strong.
Action for China market (risk-on):
- Look actively for buying opportunities.
- Buy when good stocks appear on watchlist and price is within buy range.
If my portfolio is any indication, Singapore market is slipping into a bear market. My portfolio has been losing money lately, although slowly.
Action for Singapore market (risk-off)
- Get the stops ready and sell remaining stocks in portfolio on weakness.
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