Trader by Nature

10th July 2008, Thursday

Dear Friends and Colleagues,

Dow had a sharp fall yesterday which I think they deserve. It fell 230 points.

9.00 - 12.30

Our market opens only down 5 points at the moment. Japan rebounded from 100 points drop to positive 13 points. at 11.30am, the index recovered to sightly down 1.8 points. Hong kong also is down a merely 100 over points. Generally, the counters isn't having a big fall as what has been expected. Lionind continues pushing its prices after early drop to 2.28 in the morning. it continues up .05 to 2.38 at 10.30am. Spsetia moves to 3.00 after about 2 weeks below 3.0. This pushes up its wb to .47 up .045 at the moment.

With half of the day gone, sentiment seems to turn to be better. Hongkong up 172 points while japan up 42 points. our market is even out down only 0.38 points. Lionind went up to 2.44 closed at one bid off day's high. Suncity meanwhile, went to 2.21 highest but closed at 2.19 up .07. Spsetia is still staying at 3.0 at the moment.

2.30 - 5.00

Markets start retrieving at 3.30pm. Hong kong from positive of 170 points now down to negative 40 points. Lionind after its impressive before lunch move up now down sharply to 2.39 trading at the moment. not a single counter looks promising at the moment and I will not expect to find one today.

The market volume today is pathetic. less than 300 million shares traded, the worst in years if not decade. Spsetia stays at 3.0 but its warrant B went up .065 to .49. its warrant came down from high of .65 3 months ago. just monitor how it will move tomorrow. Airasia surprises me today by moving up to .89 up .045 but closes 2 bids down to .88. I believe it will sooner or later goes back to 1.0. Eden is the other dark horse today up .03. it has been .38 level for five days already and it is time for them to roll up to .4. whether it will stay here or goes up will be likely to be known tomorrow.

posted by Chong Kok Wai @ 5:56 PM