Storms in the Hong Kong market

It’s been an eventful couple of weeks, there have been storms in the Hong Kong market.

Last week we had Muddy Water’s founder announcing he was going to reveal a new target for his shorts.

This sent as many as 20 individual stocks tumbling by double digits before he even released the name of his new target.

Then yesterday Hong Kong was hit by a level 8 typhoon Merbok which resulted in markets closing for the T+1 session.

If you would like a system to help you navigate, fearlessly, through the stormy market conditions,

Click Here.

STI

Through the turbulence, STI is still in this range, but pressing to the high side.

If you would like to know when the HK market may close for trading, check the HKSE website here.

But generally if it’s a Signal 8 Typhoon, they will close the markets.

STI is pressing to the high side.

Hi-P

As noted in the previous post here, good we took some profit near $1.00

The big down bar after a parabolic move is generally not good.

Many of our students have exited this stock already.

If you still believe in this counter then follow the trailing stop system to lock in most of your profits.

This has been a beautiful trade, if you exit at the current $0.95 level, it would be a 55% profit since our entry at $0.615

Great trade!

Hi-P great trade!

GLP

Be patient and follow system.

GLP be patient and follow system

OCBC

Be patient and follow system.

OCBC be patient and follow system.

M1

Be patient and follow system.

M1 be patient and follow system

TSM

As noted in a previous update here, resistance for TSM comes in around $36 and $40

So it was good taking some profit around the $36 level.

Follow system for the remaining portion of your positions.

TSM some profit taken around $36, be patient and follow system.

Valuetronics

We are back to the non-dividend adjusted Algomerchant chart.

There’s a long bearish red candle formed yesterday, this is generally not good.

It has triggered a trailing stop if you are using it.

If you have faith in this uptrend and are still holding, observe the low at 0.745, if we break under this then you should definitely get out for this trade.

Just a small loss on a partial position, more than covered for by profits in Hi-P.

Valuetronics was a good trade. Well managed!

Cityneon

Still going, can take some profit into this $1 level if you haven’t already done so.

Be patient and follow system.

Cityneon can consider take some profit into this $1 level if you haven’t already done so.

Sunningdale

Keep watch for the next signal.

Sunningdale keep your eyes open

If you would like to know more about trading with a reliable system so you don’t need to keep battling with your emotions,

Click Here.

Good trading folks!

The post Market Update 13th June: Storms In The Hong Kong Market! appeared first on The Systematic Trader | Trading Courses | Collin Seow.