Mistakes I must NEVER repeat in the current buoyant market

#1 = Overtrading

I need to keep the number of open positions at 5 or under

#2 = Keep in mind the overall bias of the market to avoid jangled nerves

7th Feb- Still UP, though the CLSA Fengshui Index seems to predict a fall ('bumpy' from 4 Feb to 5 Mar)

Solution = Keep windows of opportunity tight and be ready to cut losses at any clear indication of danger

#3= Speculative positions must only be taken when the stock has not yet advanced substantially or is a laggard play

eg. Scomi - Shows some life today but is still closer to its recent 2-year low of 25.5 than most other high-profile stocks

Mobif - Took a position at a price that was only two ticks higher than the previous flat close, and at roughly the same price at which it was in Mar '09;substantially below NAV

#4= If the stock deserves a medium-term outlook that is segregated from the market outlook, resolve to keep it for that amount of time!

eg. MNRB- A turnaround play

MPI- Another turnaround play

#5- Watch the USD cross & Volatility Index for any signs of a possible top!