Trading Strategy 1-4-2010

Trading

1. Sell : 2899 (紫金)

2. Watch : 819 (天能動力) 0107 (四川成渝高速公路) 916 (龍源電力)

Watch List

1. 3988 中國銀行: Sell @ 5.8

2. 1174 太平洋恩利 : stop loss @ 1.40 Review on May 2010

3. Active portfolio re-balance

Q1 2010 Return Review

Asset Allocation -3%

Stock Selection 19%

-----------------------

Total Return 16%

Can't tell if that is the result of luck or skill.

Target another 44% in 2010 return. Move on....

God bless us.

p.s. New Hedge Fund lose 100K

Rule : Discipline !!

1. Mid term indicator : 10D X 20D

2. Stop @ 3th week

3. No room for indecision

4. At least 30% cash for buffet.

Trading Strategy 31-3-2010

Trading

1. DUMP : 587(華瀚生物製藥)

2. Sell : 2899 (紫金)

3. Buy : 819 (天能動力) 0107 (四川成渝高速公路) 916 (龍源電力)

Watch List

1. 3988 中國銀行: Sell @ 5.8

2. 1174 太平洋恩利 : stop loss @ 1.40 Review on May 2010

Comments:

華瀚生物製藥 : Sales grows rapidly, but Earning does not grow and expense to minor interest UP.

Serious management issues => (NO Deal company) !! DUMP

Trading Strategy 30-3-2010

Trading

1. Sell : 818 (高陽科技), 2899 (紫金)

2. Buy :

533

金利來集團,

3928 (鄭州燃氣)

3. Accumulate :

819 (天能動力

) 8259 (安德利果汁) 916 (龍源電力)

Watch List

1. 3988 中國銀行: Sell @ 5.8

2. 1174 太平洋恩利 : stop loss @ 1.40 Review on May 2010

Trading

1. Buy : 916 (龍源電力), 819 (天能動力)
2. Sell : 2899, 1174

3.

Accumulate : 3928 (鄭州燃氣) 2355 (寶業) 8259 (安德利果汁)

Watch List

1. 3988 中國銀行: Sell @ 5.8

2. 1174 太平洋恩利 : stop loss @ 1.40 Review on May 2010

Weekly Review (28-3-2010)

Bill Miller :
US interest will stay low in 2010. China is looking good in long term.

Bill Gross:
Bond is going out, and stock is going in.

陶冬:
Inflation is up and real Estate will be down 15% in the second half of 2010.

Trading Strategy 26-3-2010

Trading

1.

Accumulate : 3928 (鄭州燃氣) 2355 (寶業) 8259 (安德利果汁) 189(東岳集團)

2. Sell : 272; 2899

Watch List

1. 3988 中國銀行: Sell @ 5.8

2. 1174 太平洋恩利 : stop loss @ 1.40 Review on May 2010

Trading Strategy 22-3-2010

Trading

1. Buy : 8058 (羅欣藥業)

2. Accumulate : 3928 (鄭州燃氣) 2355 (寶業) 8259 (安德利果汁) 189(東岳集團)

3. Portfolio Re-Balancing

Watch List

1. 3988 中國銀行: Sell @ 5.8

2. 1174 太平洋恩利 : stop loss @ 1.35

Weekly Review

Interest Rate :

Against the market view, FED confirms that the extra low interest rate prevails. The Extra-low interest rate persists through out 2010.

CNY

China is under pressure of CNY appreciation. CNY reacts strongly against US's pitch. Trade war of small-scale is likely.

Inflation

The Chins's target of PPI of 3% in 2010, and expected CNY appreciation of 3%-5%. The HK inflation is likely to hit 6% this year. Real-Estate is likely go north as HK interest rate stay low (for how long ?)

Trading Strategy 17-3-2010

Stock Operation

1. Accumulate : 3928 (鄭州燃氣) 2355 (寶業) 8259 (安德利果汁) 818 (高陽科技)

2. Portfolio Re-Balancing

Watch List

1. 3988 中國銀行: Sell @ 5.8

2. 1174 太平洋恩利 : stop loss @ 1.35

Trading Strategy 9-3-2010

Stock Operation
1. Accumulate : 3928 鄭州燃氣 2355 寶業 855 中國水務

Watch List
1. 3988 中國銀行: Sell @ 5.8
2. 1174 太平洋恩利 : stop loss @ 1.35

Trading Strategy 8-3-2010

Stock Operation
1. 3988 中國銀行: Sell @ 5.8
2. 1174 太平洋恩利 : stop loss @ 1.35
3. Accumulate : 3928 鄭州燃氣 2355 寶業

Portfolio Review 7-3-2010

Reading
Dr. Marc Faber : The production of USD etc.. outpace the production of Gold
The price of gold has only 1 way to go => UP

Stock Operation
1. 3988 中國銀行: Sell @ 5.8
2. 1174 太平洋恩利 : stop loss @ 1.35

2010 Investment Outlook
1. USD falls slowly, gold(1,500)/commodity price goes up
2. Emerging countries decouple from G7 part 2
3. HSI hits 30,000 and HSCE hits 4,000
4. Stock volatility goes up

Focus
1. focus on large beta growth mid cap with regular portfolio Re-balancing
2. Industry Sector (Gas, Consumer, Medical, Technology, Gold)
3. Hedge fund 1-3X leverage operation on HSCE future

Watch List
1. 272 瑞安房地產 : P/B @1.2 vs industrial avg 2.0+ Boss buy @$5.00 Oct 2009 NAV @$8.
2. 2318 中國平安: aggregate management and huge growth potential. (Grow at 37%, PEG = 0.34)
3. 587華瀚生物製藥 : Est PE = 14 Medical for female (growth @20%)
4. 1387人和商業 : Est PE = 6.9 underground shopping mall
5. 2343 太平洋航運 : cyclical stock - steady for recovery in 2010.
6. 868信義玻璃: cyclical commodity for auto & construction. (2009/09/27 Chairman buy at $5.03)
7. 861 神州數碼 : Octopus in China
8. 1968 匹克體育 : consumer sports (PE @ 14)
9. 3928 鄭州燃氣 : PE @ 9 growth @20% (Rapid Growth and Capital intensive)
10. 3988 中國銀行: cheap stock with P/B =1.5
11. 2355 寶業 : Cheap construction firm P/E = 6.8
12. 533 :金利來集團 cheap consumer stock P/E 10.5
13. 992聯想集團 : cyclical technology (Gartner projects 20% up in 2010)

Daily Trading Strategy 3-3-2010

Accumulate :
2355 寶業集團
0687 泰昇集團

Daily Trading Strategy 2-3-2010

Trading
1. Switch ( 1,500 2318 -> 60,000 1174)
2. Long 1 lot HSCE @11800
3. Switch (20,000 587 ; 4,000 867 -> 272)

Focus
1. focus on large beta growth mid cap
2. Industry Sector(C. Bank 3988 , Consumer1968 , Medical 587, Technology 861)
3. Hedge fund 2X leverage operation on HSCE future