Trader by Nature

7th July 2008, Monday

Dear Friends and Colleagues,

9.00 - 12.30

Although Dow is not open for trading on Friday, markets in Europe closed lower such as FTSE and Paris one over percent down. Japan opens down merely 20 points in the morning while australia down over one percent. Hang Seng is bullish with over 300 points up. The market here has opened with some counters rebounded in the morning. it turns bad at 9.30am from positive 2 points down to negative 9 points in 10.30 am. at 11.30am, market rebounded slightly to a deficit of 6.8 points. Gamuda opens up jumping over .15 to 2.43 but retrieves back to 2.36 at 10.30am. At 11.30am, it went up again to 2.41. Transmil also moves positively today. It went to a high of 1.22 in the morning but retrieves to 1.18 at 10.30am. At 11.30am, it again reached new high and this time, touched 1.25 but retrieves back to 1.21 at 12.15am. It is staying at this level after coming down from 1.3 five days ago. It needs to brake this level to be safe.

At lunch, KlCI is down 7 points while regional market is up. Japan up 160 points, hong kong up 320 points and dow futures is up 39 points.

2.30 - 5.00

at 3.30pm, market did not change much from where it was before lunch. It is still 6.7 points down. Hang seng up 480 points while nikkei closed at 120 points up. FTSE at the moment is only 5 points up. Dow futures went to a high of 60 points but came down to 40 points at the moment. Gamuda is staying at 2.42 - 2.43 with huge transactions done at these two levels. A new report is saying it is going to be taken private.at 4.30pm, it went up a notch higher to 2.45 highest of the day and not retrieving after that. it slowly climbed to high of the day at 2.49. In the end, it close down to 2.47. i have missed all the points of entry. anyway, my boss entered it at 2.48. He says the current market is tough to make. well, he says he is losing all these past few weeks. Sigh

posted by Chong Kok Wai @ 6:17 PM