Commentator urges cuts, eyes 23,000 rebound level
On.cc · 1 SOURCES1 day ago4 MIN
Summary
Veteran Hong Kong market commentator Tang Kin-chiu (鄧建初), known by the nickname “Chor Gor”, argued that investors should remove weak holdings early so one large loss does not wipe out gains from multiple winning trades. Referring to his column published on Sunday, October 25, he said a previous plan to exit a losing stock and several exchange-traded fund positions on a rebound should have been carried out on Tuesday, October 20. He wrote that, across 20 entries, 17 positions had risen while three were stopped out, leaving overall performance “ideal”. Tang also said the Hang Seng Index had been swinging around the 24,000 psychological mark, while a drop below 23,000 could offer a rebound opportunity
Key Points
- Tang said a wealthy friend once told him that profits from one stock can be enough to rescue all losing positions, but such skill is rare
- He said many retail investors make the opposite mistake, where gains from several stocks cannot offset one deeply loss-making holding
- In his October 18 column, he advised taking profit on 11 previously mentioned stocks and waiting for a rebound to cut the only losing position
- He added that the fourth and fifth ETF purchases should also have been sold into last Tuesday’s rebound as part of the same stop-loss plan
- Tang said the Hang Seng Index fell 1,093 points last week, with three down days and one up day, validating caution near 24,000
Why It Matters
For Hong Kong investors, Tang’s message is less about predicting every market move than about controlling downside when volatility rises. His view also draws a contrast between elevated risks in US equities and a possible tactical rebound setup in Hong Kong if the Hang Seng Index breaks below 23,000