[Trading Portfolio] 2024 Week 25

This week has been a more exciting week for my long-term investments, but a very frustrating and annoying one for my short-term trading portfolio.

On the investment side, the Chinese stock market took a significant hit, and prices of stocks dropped across the board. Three Gorges fell from a high of 4.71 to a low of 4.28 on the weekly timeframe. I first went in at 4.58 RMB with 1300 shares after deciding that it was within my 4.5x range instead of waiting for the 4.51 price which I narrowly missed in the previous round. However prices continued to fall the next day, and I went in with 1000 shares at 4.44 RMB. It continued to fall on Thursday to a low of 4.30 but I had decided to wait out for a bit. As at Friday, the prices stabilised and I decided to go in at 4.29 RMB with another 1000 shares.

One of the reasons I decided to buy on Friday instead of waiting further was because the SSE Composite Index breached the 3000 support line again. The 3000 mark is a psychological barrier which the China government will defend. Of course, prices of Three Gorges may fall further but it is definitely within buying range. I do not aim to buy at the lowest and sell at the highest. As long as it is a good enough price, I am happy to get some.

Currently I am holding on to a total of 6000 shares of Three Gorges at an average price of 4.585 RMB per share, after factoring in all the fees and charges. Had wanted to save some money to buy Sheng Siong, which I had published an article on why it is a good buy, but Three Gorges is too good for me to pass up now. Looks like I have to save up more money first before I can get some Sheng Siong shares.

On my short-term trading aspect, it has been another week without results. There were some movements in the gold and silver prices, but none of them went up high enough for me to open a short trade, nor did they fall low enough for me to close my existing short trades. They were just fluctuating in the range. There were many temptations to open a few trades, but decided in the end that I would rather miss money making opportunities than to take unnecessary risks and get trapped.

GBP/USD fell but still not enough to trigger my long purchases. Again, let’s hope next week will be a better week.

This week there is no CFTC data for the big monies. The data I got this week is the exact same thing as last week. Probably the upload was not done correctly. It seems unlikely that big monies made no movement across the board. We will see again next week.

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