Daily rantings

Turns out shorting hsi yesterday is a pretty okay decision.

Today hsi went up all the way to 150 points before coming down again towards market close for hk. Overall, it gained 77 points. I'm slightly bearish for hsi, so will try o get rid of my call warrants as soon as possible.

Something is not right. HSI cheong up 77 points, STI also cheong up 33 points, but all the counters are red. Very funny right? It's either someone manipulating STI to make it look really nice before budget day, or I'm imagining things. Why would anyone want to do that? Simple, imagine what happens when you reveal your bad things about the budget and the stock market crashed before you announce, I think that would cause a lot of public distress, right? haha, but it must be my fertile imagination.

On the whole, I feel market is getting weak. Simply no strength to push for whatever rally. Even this fake rally is restricted to certain stocks (i'm not sure, i think it's bank stocks because their results are coming out soon).

Capitaland rewarded me wholesomely by posting quite a good profit, but I can't remember the figures. My warrant shot up a lot in the morning before I woke up. Capitaland warrants very funny, because it goes up and down a lot of times throughout the day. Considering that it does not event track index, and capitaland stock price stays more or less there, the movement of the warrant is actually quite volatile. I should take note of this. Tmr I'll wake up early morning to monitor the situation (why? because my warrant shot up so higher when the market opens, such a waste not to sell it...been like that for past few days already). Basically I'm still very bullish on capitaland, with the director releasing all the juicy news about acquring this and that. Considering the volatility of the warrants, I might just sell high and buy low. If it goes higher than forget it loh, I'll just take profit.

Yup, so that's my plan for tmr.

Longcheer, same lah, although today is contra sell day (esp impt because for those who did contra buy, and have no $$ to pay, they will be forced sell today), the stock didn't drop much. Quite steady, until towards the end. Some broker house also project its target price (lowered) to 1.64 (or something like that). I never believed in their target price, but I do hope a lot of people out there believe them and make a buy in. That should provide the defense against any shortist out to short this bugger again. But I think longcheer is quite safe from shortist, because there's a lot more stocks out there who got short down. Good example, china energy. Oh ya, another news for longcheer. Today some STUPID funds who bought longcheer some time ago did a major sell off during the last couple of days back. NO WONDER LONCHEER tanked down! Stupid funds, hope they lose a lot of money man.

Dangerous times out there huh?

Saw global voice shot up on high volumes today. Heard it's due to good results out near end of feb. Haha, for those who have this baby, congrats! My charts are not updated yet, so can't check.

Tmr is the all impt budget day. If corporate tax (CT) drop by 1%, I think market will be around the same level as today. If CT drop by 2%, I think market will rally, and we'll have a good CNY. If CT nvr drop, someone please complain to authorities about some senior guy talking nonsense. On the other hand, might have contrarian views at work here, meaning if rise 2%, selldown to take profit. Market is so complicated, who can predict? Still have the GST crap also, trying to squeeze all of us dry. Hiaz...is this the price we have to pay for political stability?

Share something stupid here, from a book I read at kinokuniya, Bugis:

Old Osama have a house, E I E I O
There are some men in the house, E I E I O
And a brain here, brain wash there,
Wash here wash there, everywhere wash wash
Old Osama have a house, E I E I O

(there's more...of course, but I can't remember)

Good trading tmr!