Monday, April 30, 2007

Labour day's market....boring

HSI didn't close positive.

I was told that HSI follow Dow more closely than it follows Shanghai, even though it should have more correlation with Shanghai because of its ties.

Oh well, bumber. Shouldn't have touched warrants..sianz... Anyway, still holding on. I won't sell this week unless something really bad happens. I'll probably wait till next week when the majority of markets world wide is open. I'm not sure if HK opens on Wed, but I'm pretty sure China market is closed for the entire of this week, hence the 'golden week'.

Minus my warrants, the stocks are holding pretty well against the downturn of STI. As I posted last week, the most that STI would go should be 3290, though it would be range trading up and down. But i'm not holding any index stocks, so it shouldn't affect me so much.

Construction stocks rallied briefly. I though I could accumulate more yongnam when it threatened to break 0.330 downwards...but it rallied up to close at 0.35. CSC too, close 0.015 up at 0.315. Swiber is holding strong, waiting for it to bottom out before considering to add more.

Cosco reports 12% increase in quarterly profits. Don't know if it's good or bad, but cosco actually closed down. Seems like this stock always up on rumors and down on news.

Europe mostly green, dow now at +9

Have a great labour day!