[April 14, 2026] Trading Journal: Holding Strong & Watching the Next Move

Profits in Hand, Patience in Mind

📋 Daily Overview


💼 Holdings	Songwon Industrial (004430.KS) · JS Link (127120.KQ)
🔍 Watchlist	Hotel Shilla (008770.KS) · KG Chemical (001390.KS)
📝 Today’s Mood	Both holdings running strong — holding steady while watching for the next entry opportunity
🇰🇷 Market	South Korea (KOSPI & KOSDAQ)

⚡ Portfolio Snapshot (End-of-Day, April 14)

Stock	Entry	Current	Return	Sentiment
Songwon Industrial (004430.KS)	₩9,190	₩9,690	+5.44%	🚀 Strong Bullish
JS Link (127120.KQ)	₩42,644	₩47,350	+11.03%	🚀 Strong Bullish

🏭 1. Holding: Songwon Industrial (004430.KS)

Price Increases as a Margin-Defense Strategy

📋 Fundamental Story

Songwon Industrial, the world’s second-largest polymer stabilizer producer, is navigating a difficult earnings cycle — reporting an operating loss of ~₩3.1 billion in Q4 FY2025. However, the market is focused on its margin-defense efforts through consecutive price hikes: a 12–20% increase in March, followed by further adjustments on April 9 citing Middle East disruption. At a PBR of 0.31, the stock remains deeply discounted to book value.

📊 Technical & Supply Chain Insights

📈 Trend: Price is above all major moving averages (SMA 5: ₩9,458 / SMA 20: ₩9,135), confirming a healthy bullish alignment.
⚠️ Momentum: MACD histogram (81.6) is expanding, but CCI (204.6) and Bollinger %B (1.04) signal short-term overheating above the upper Bollinger Band.
🌍 Foreign Buying: Net buyers in 8 of the last 10 sessions. Short-selling dropped sharply from 3.10% to just 0.72% today — bearish pressure is fading.
⚠️ Caution: Pension fund sold -57,361 shares on April 7 in a single session, and resumed selling today (-1,860 shares). Worth monitoring.

🗣️ Jenny’s Dad’s Strategy

“Currently at ₩9,690, up +5.44% from entry. Maintaining a dynamic trend-following approach with no fixed target. Key support to watch: ₩9,250 (near 5-day SMA). Will hold as long as foreign buying remains intact.”

🔗 2. Holding: JS Link (127120.KQ)

A Rare Earth Magnet Expansion Story

📋 Fundamental Story

JS Link is repositioning as a non-China rare earth supply chain play, backed by a ₩50 billion investment in its Malaysian subsidiary and a 1,000-ton annual capacity magnet plant in Yesan. The market is pricing in execution potential within the global de-risking theme rather than near-term earnings.

📊 Microstructure & Market Sentiment

🏛️ Institutional Accumulation: Pension funds led aggressive buying from April 2–8, then returned strongly today with +38,713 shares. Investment trusts added +12,341 shares. Total institutional net buying today: +54,628 shares.
✅ Clean Supply: Credit leverage at 0.02% — essentially zero. Short-selling at just 1.77% today. Stock lending balance declining from ~875,000 to ~839,000 shares — overhang is reducing.
⚠️ Technically Extended: CCI (280.25), Bollinger %B (1.226), and RSI (71.59) all signal significant overheating. A pullback would be healthy and normal.

🗣️ Jenny’s Dad’s Strategy

“Currently at ₩47,350, up +11.03% from entry. Momentum remains exceptional. Monitoring the 5-day SMA (₩42,900) as key support. The ₩44,800–45,500 zone is the first area to watch on any pullback.”

🏨 3. Watchlist: Hotel Shilla (008770.KS)

Watching for a Turnaround

📋 Fundamental Story

Hotel Shilla is a turnaround candidate driven by the closure of loss-making airport duty-free branches, recovering inbound tourism, and CEO Lee Boo-jin’s announced plan to purchase ~₩20 billion of company shares — a strong signal of management confidence. PBR of 1.60 means execution of the turnaround story matters.

📊 Supply & Demand Analysis

🔄 Flow Shift: From April 7 onward, foreign investors (~+494,000 shares) and institutions (~+435,000 shares) took over aggressively from heavy individual selling — a classic smart money rotation signal.
🏛️ Institutional Breakdown:
- Securities firms: Active short-term trading — large buyer on April 10 (+85,161 shares), but sold today.
- Investment trusts: Steady small buyer in recent sessions.
- Pension funds: ⚠️ Net sold -60,696 shares today after earlier accumulation — a meaningful reversal to watch.
- Private equity: Small and mixed throughout.
📉 Short-Selling: Dropped from 21%+ in early April to 4.75% today. Stock lending balance also declined from ~4,061,000 to ~3,717,000 shares — potential short-selling overhang is unwinding.

🗣️ Jenny’s Dad’s Strategy

“Monitoring at ₩48,550. Technically overheated (Stochastic K: 87.03, CCI: 114.46). Today’s large pension fund selling is a caution signal. Waiting for a cooling-off period and support confirmation near ₩48,000 before considering entry.”

⚗️ 4. Watchlist: KG Chemical (001390.KS)

Commodity Theme with Value Support

📋 Fundamental Story

KG Chemical benefits from rising global urea and ammonia prices linked to Middle East supply disruption. It is not a purely one-way bullish setup — procurement pressure is a real risk — but the combination of thematic support, deep value (PER 5.66, PBR 0.39), and a 35% minimum shareholder return policy makes it an attractive setup to monitor.

📊 Flow Analysis

🌍 Foreign Buying: Consistent net buyer since April 8. Added +182,572 shares today — approximately +851,000 shares over the past week.
🏛️ Institutional Breakdown:
- Securities firms: No clear directional conviction — mixed throughout.
- Investment trusts: Small but consistent buyer. Added +2,175 shares today.
- Pension funds: Today’s +24,970 shares was the largest single-session purchase in the 10-session window — a meaningful positive signal.
- Private equity: Small buyer today (+340 shares).
⚖️ Improving Supply Structure: Stock lending balance peaked at ~1,890,000 shares (April 10) and declined to ~1,719,000 shares today. Short-selling also dropped from a high of 10.86% (April 3) to 2.44% today — overhang is unwinding.

🗣️ Jenny’s Dad’s Strategy

“Monitoring at ₩5,770. Technical picture is constructive and pension fund buying today is encouraging. However, I prefer to wait for a pullback toward ₩5,500 to confirm that demand holds before entering. Will not chase at current levels.”

💭 Closing Thoughts

Today was a day of two feelings: the satisfaction of watching both holdings push to new highs, and the discipline of staying patient on the watchlist names. Smart money is flowing into all four stocks — but Songwon and JS Link have confirmed their trends, while Hotel Shilla and KG Chemical are still building their bases.

“Holding a winning position without flinching is just as hard as finding the right entry. Today was a reminder that patience works in both directions.”