Monday, February 26, 2007

News to share

These are some news that I heard across the floor.

First, Indonesia navy prevents the supply of granite overseas, not only the sand. I think what will be affected will be construction stocks. Perhaps genting too. Genting hasn't been doing too well. I think there's even a brokerage house downgrading. Okay, brokerage house downgrading could be because they want to buy, so..keep your eyes open. I'm still not vested in Genting yet. My price is around 0.71, haha!

Secondly, HK is going to announce their budget this wed. Will they come up with a cutthroat tax rate to compete with singapore, its main rival in this region? Stay tuned. HSI today fell 200 points, with no strength to rebound. Perhaps people are waiting for the budget announcement before they commit. I'll wait too. Tmr's a crucial day for HSI. HSI is sitting on a fence, it could rebound off the support or it could break it and go down from there. We'll know tmr. I'm still in HSI call warrants, haven't cash out yet. Currently losing money.

Longcheer XD today. The price dropped as expected. This is due to dividend given off which affects the value of the company, hence the drop. Hard to say which way it'll go.

I bought City development warrant today, 5 lots at 0.315 only. City development going to announce its 4th quarterly results on wed (don't know whether it's market close or lunch time). Today, there’s an announcement by another of their subsidiary – e-solution. 2005 posted 7 million profit, 2006 posted 95 million profit..incredible. I expect them to do pretty well because all their subsidiaries like ascott reported rather good profit. Today city developlment mother share fell, probably after a rather huge increase last week. MACD sitting on fence now, with the blue line waiting to cross over the red line, a good buy signal.

Dow should behave good tonight. Futures for dow jones increase 42 points before opening, a good sign that it'll have a strong opening. I hope Dow can close strongly too, so that HSI and STI can be pulled up by the strong US side. As of now, Dow is up by 30 points.