專業精神

美國艷后(色情女星)珍娜(Jenna Jameson)出了本傳記《如何像色情明星般做愛》(How to... Make Love Like A Porn Star)。艷后還豪說：「如果說錢不能買到快樂，太片面了。這要看你如何掙到那些錢。如果要我每日承受高壓地工作，那麼生命很沒趣。但我只需要把身體靠向男人，然後他們便會把一 千幾百元塞進我口袋，我完全不需要對工作負責任—甚至明天上不上班都沒義務，那樣，生命才會美好。」

「如果說錢不能買到快樂，太片面了。」這倒是確當的邏輯。錢不能「買」到快樂本身。但錢是工具，如果善用它，可以買到令你快樂的東西，也可以令你過你想過的生活，比方說，錢給你工作或者不工作的自由。所以，在大多數的情況來說，多（一點）錢較少錢快樂。艷后說得沒錯。

但是 「我完全不需要對工作負責任—甚至明天上不上班都沒義務，那樣，生命才會美好。」，筆者不以為然。日本的AV女優，無論有沒有將來，生活美好與否，一旦當上AV的角色，就要把角色演好。她們不會老是想明天上不上班或者有沒有沒義務上班。有能力工作，就努力把工作做好，這是工作者的義務，是專業精神。就是AV，日本的出品都是一流的。

日本戰敗就要承擔戰敗的後果，就要擁抱失敗。日本知道要把戰敗的結果反過來，就要比戰勝者做得更好。二戰後日本的「慰安婦」(慰勞、安撫美軍的妓女)是自願的。她們為的是「保存國家良家婦女的貞潔 」** (「妓」是一個很雅的古字，是很專業的稱謂，日本有舞妓，藝妓，歌舞伎等等，不專業的不能成為妓(伎)。故無需委宛地把她們說成性工作者)。這種精神是每天只說自己的權利，從不問自己有怎麼義務的人無法理解的。

一個稱職的妓女是專業。一個專業的AV女優一旦當上了角色，就要把角色演好。這也令筆者明白為怎麼亞洲近兩百年來就只有日本抬得起頭來，為怎麼就是今天的豐田(最差的時候)還是世界第一。


**見東京一橋大學教授John Dower 的《擁抱失敗 －日本二戰之後》一書Embracing Defeat - Japan in the Aftermath of World War II, Penguin, 1999.

View of The Day: 1766 China South Locomotive

Let's do some more range trading simulations before actually putting my money in, and also in this View of The Day, I would to see how the 2 recommendations I made in the past couple of weeks.

My target today, my fave share, 1766 China South Locomotive: it has come down to $ 5.79 penetrating beneath the lower Bollinger band. STC and RSI have yet to indicate buy signal (because the free graph we have from ET Net is yesterday's) but these 2 indicators should so indicate today or tomorrow. I don't mind to wait for a day to ensure 1766 is truly a buy.

On 26 April, I picked 20472 Macquarie-Tencents put, at around $ 0.121. It closed at $ 0.136. I should have sold it at $ 0.134, making a profit of 10.7% (gross) or around 10% (net of all costs). Not bad for an overnight trade.

On 21 April, I recommended 173 K Wah (at $ 2.80) Today closing at $2.78 but the buy sign was more obvious now. I shall hold for another week.

On 20 April, I recommended 272 Shui On Land (below $ 3.70). Today closing at $ 3.55. Again the buy signal appears to emerge gradually. Hold for another week.

On 13 April, 19964 UBS-HKSE put was recommended at around $ 0.07. Today closing at $ 0.097 (turnover 38.15 m shares). Likely I could sell it at $ 0.094, making a 13.4% profit gross of costs - net profit margin would be 12.7%, for a period of 2 weeks (but if I was more viligant, it could be sold on 19 April at the same price.....)

View of The Day: Again 20472 騰訊麥銀零零八沽 (認沽證)

Another day for 20472.

Wait and we now see a clearer chance. A big white candle for 700 today means that we should have jumped in for the put warrant. Today it closed at $ 0.121 with lowest at $ 0.117 - but at around $ 0.118-0.12 and wait for 20% rebound! Turnover was even higher, at 98.44 million shares.

Anthony Leung's greatest contribution ever in his life is 'what goes up must come down'. This applies to 700.

View of The Day: 20472 騰訊麥銀零零八沽 (認沽證)

700 Tencents Holdings - having had a couple of big white candles, think it's time to test if some correction is imminent. Therefore, I pick 20472, a put warrant by Macquarie with expiration on 3 August and leverage of (just) 5.206x. Turnover at 64.94 million shares as at last Friday (23 April).

Though leverage is not high, higher turnover and a longer holding term outweigh the factor of leverage.

Closing price 23 April of 20472 was $ 0.135 lowest since listing. Think it's a good time to buy at current level but wait a bit, on the grounds that STC and RSI going up quite sharply.

Source: ET Net; 700 Tencents Holdings


20472 Macquarie-Tencents Put

View of The Day: 173 K Wah

Another range trading exercise on 173 K Wah - should have done it yesterday but today was still ok. Not sure about tomorrow but we can give it a try: if we can buy it at $ 2.8 and set a sell price at $ 2.92, that is a 4% profit. Time frame: 1 week.

View of The Day: 272 Shui On Land

Range trading target. Look the stock is ready for a rebound. Buy at below $ 3.70 and sell at/above $ 3.85, making 4% profit. Time-frame: 1 week.

View of The Day: 19964 港交瑞銀零零七Ｃ (認沽證)

I am paying attention to 19964 UBS-HKSE put as 388 Hong Kong Stock Exchange has been going up for a while. However, the correction of 388 is yet to be formed (STC suddenly moved up again yesterday that made the situation less clear).

My view is if the put warrant goes to or below $0.07, we can bet on it. It is going to be a very short term, no longer than a few days.

Source: ET Net Hong Kong; 388 HKSE

信報2010年4月12日 - 看了張立的文章，真的想去重慶一次。

張立

重慶行

周五飛重慶。現在中國的城市，包括二三線的，一兩年不到就面目全非，發展太快了。

拍 大西南開發，從廣西到貴州，到重慶，到四川，到西昌，到雲南，入藏，經滇藏公路到拉薩，轉眼是八九年前的事了。記得當年也每天為本欄行文，旅途中一揮而 就，行文粗糙，但往往不修飾者更有真實感，恐怕老讀者還記得。特別是從滇入藏，穿過原始之地，正因為危險四伏，記憶猶新。人就是這麼賤，風花雪月，隨風而 逝，苦難危險隨着時間流逝，反而鮮活甘甜。

重慶在抗日戰爭時為國民政府所在地，稱為「陪都」。因為是山城，嘉陵江及長江在此滙合，易守難 攻，被選為首都。

但解放後，中央把省府、西南局及軍區都放在成都，故成渝一直有瑜亮情結，重慶成為直轄市後方揚眉吐氣。近十年重慶發展迅 猛，既然很難形容，就不去形容了，「突飛猛進」四字恰如其分。

這次到重慶，專門到大足看柳本尊，柳本尊晚唐時人，得道，應是唐密傳人。他死 後四百年，南宋他的教派弟子，在大足沿山刻大型「佛道儒」三位一體的塑像，以紀念他。可見唐密在南宋前後一直在四川有傳承。之後，若隱若現，大法未彰。正 到現代，先師劃時代巨著《法門寺地宮唐密曼荼羅之研究》問世，為唐密復興奠定理論基礎，只待後來者證悟，大放光明。唐密復興與中國國運同步，在大足石刻呆 了一天。回到重慶，華燈初上，山城風貌。

Review and Preview

Review: 20641 Macquarie-China Life Put (expiring 4 August 2010). It seems that 2628 China Life is about to return to a uptrend as the STC (the second graph) has shown (though not entirely certain yet as the blue line is yet to firmly overtake the red line). I will wait to see a more obvious trend before buying.

Source: ET Net Hong Kong;
2628 China Life


Preview: 18086 Macquarie-HSBC Call (expiring 29 September) - Implied volatility at 25.212% - Leverage at 9.62x. Turnover as at 9 April was 186.092 m shares. Closing price $0.385 up 28.333x against the previous day's closing.

I have looked at 5 HSBC for a few days and it seems it has already started another round of going up (DAMN LATE THIS TIME!). Don't look how much more it will gain. But the call appears to be worth looking at. I will wait and see........

Source: ET Net Hong Kong
0005 HSBC


18086: Macquarie-HSBC Call

View of The Day: 18412 中化荷合零零九沽 (認沽證)

Look at the stock 386 Sinopec. The first graph shows the stock price candles dance along the Bollinger Bands (保力加通道). The price has gone above the upper band, closing at $ 6.45 today (8 April 2010) whereas on STC (the second graph) the blue line, at 77.42, has come down below the red one of 80.54. Momentum of RSI (the third graph) dissipated. A larger correction is imminent. So I think we may take advantage of this situation buying a put warrant - 18412 Sinopec - Rabobank put, expiring 21 September (plenty of time!). Leverage at 8.165x with strike price at $ 6.59. The put warrant closed at $0.079, up 6.8% compared with the previous day. But we need to look at the trading volume before jumping in (today 14.3 m shares traded, not bad but need to keep an eye on it).

Source: ET Net Hong Kong. 386 Sinopec


Source: ET Net Hong Kong;
18412 Rabobank-Sinopec Put

View of The Day: 902 Huaneng Power International Inc

I mentioned 902 Huaneng Power more than a few times (25 January 2010; 30 December 2009 and 17 December 2009). This time I do not talk about fundamentals. Let's try my 1% a day theory - I will make a time frame of 1 week for this safer stock. The Stochastic indicator (STC) - the second graph below - shows that it is about to come to a buy signal - when the blue line, now at 24.14, overtakes the red line which is now at 25.2 - and the low STC indicates a possible oversold situation (though it can't be absolutely sure it is a good way to see if my theory works). In the meantime, RSI has flattened out and started to go up. Buy at current price ($4.50-ish) and see if we can take a 3-5% profit - Capital committed may be around $50,000-60,000, aiming at a profit of $1,500-1,800 (before costs). Time frame: 1 week. If price continues to go up quickly above $ 4.68 (the 100-day moving average), perhaps we can wait a bit to aim for a 10% profit.

Source: ET Net Hong Kong

View of The Day: 20641 中壽麥銀零零八沽 (認沽證)

2628 China Life has been performing well in the past couple of weeks, closing at $38 before Easter holiday (see the second graph below). I am not a big fan of technicals but it looks it is bound to correct at some point with RSI reaching 70. At the time there're no clear selling signals yet. All I am waiting for is the STC %K (the blue line of the second sub-graph of the large graph of 2628) crossing below %D (the red line).

On 26 Mar, the STC blue line goes above the red line. Loosely speaking it was a buy signal. Currently %K line reaches 100 but the %D line (red) is trying hard to catch up. At some point I believe 2628 will come down - but at the moment the stock is going for $40. If it cannot break through and STC shows a short signal with RSI lingering on above 70. We should buy 20641 a put warrant by Macquarie (see small graph below). Leverage at 9.5x, it is quite an exciting bet. As 2628 has been rising in the past 2 weeks, 20641 came down closing at $0.058 (down 23.7%). It is not expensive and the turnover can support my theory on a short-term trading. Once 2628 turns around we should be able to catch the correction with this put.

Source: ET Net; 20641 China Life Put/Macquarie


Source: ET Net Hong Kong; 2628 China Life