STI and HSI broke all time high

MM Lee made a comment on Sat/Sun that the corporate tax rate for singapore companies would be cut by a minimum of 1%.

Look at where sti stands now. It was up 72 points, the biggest I've ever seen since I've traded. The market shows a lot of things to me. I heard that the biggest ever single day increase was in 1987 (coincidentally the year where dow jones crashed badly in the infamous 87' Oct crash), where it rose 107 points in a single day.

I have every reasons to wish STI to correct soon. The more important one being that I had bought put warrants for it. But the second one, is also equally important. There is big gap not covered near 3080, if it did not attempt to cover that gap now and continue to rise further, eventually when the inevitably comes, it will be all the more painful because it will drop all the way till it nears 3080. This is to cover the gap caused today.

HSI did not lack behind too. It rose all the way to 440 points. Now, tell me frankly, what kind of crazy bull market are we looking at? The big thing here is the both STI and HSI shows no signs of weakness at all, no faltering, just keeps cheonging up and up. HSI still have more room for upside, and I think we just might be able to see this crazy rally go all the way for another month for Chinese new year.

This is scary... I think I need to sell my put warrants for sti when the market corrects slightly. Fighting against trend is suicidal, I already know it many times before.

Today I made some small money buying call warrants for hsi. Bought at 0.765 (10 lots), but sold at 0.77. I was being overtly cautious, I guess having lost quite a sum recently. Know this, I could have made a potential $1500 today, having bought at a local low. Bad thing is that I sold too early on signs of uncertaintly. It didn't help that I was about to leave for work too so I can't catch onto the next wave up. Nevertheless, no regrets, I did what I thought was good for me at the point in time. Looking back in hindsight always make a fool of everybody.

Longcheer made a staggering volume of 65 million today, topping the charts. This was due to a 48 million shares placement where the top 2 shareholders sold their stacks in the company to institutional investors at a discount of 1.14 to last Fri's closing of 1.23. Imagine 65 million trades done...the average volume for the past 50 days is only a measly 3.5 million, so that's 20 times more. I do not understand why there is such a big selloff, where the intra-day reached a low of 1.17 in the morning, before rising up to 1.26 and then dropping back to 1.19 again. Luckily it closed above 1.18, because that was my support and cut-loss trigger point.

I placed a queue to buy longcheer at 1.17 when I saw it dropped to this price in the morning. I thought there's no chance of grabbing at this big discount, so I left the queue order there and left for work. Who knows around 4:35pm, I received confirmation of my buy at 1.17. Haha, that brought my total longcheer holding to 30 lots at an average buy price of 1.19833.

I really want to sell off my stocks holdings soon. Seeing all this ditsy titsy rise in index makes me remember the May 06 selldown. Let's see if tmr STI and HSI will correct down or still rally more.