Thursday, August 16, 2007

Defence lines for my portfolio

STI dropped 121 pts down (-3.70%) to close at 3152 with 2.7 billion volume (higher than yesterday). Selling is severe and broadbased. This is after Dow dropped below 13,000 pts to close at 12,861. Worldwide market is a sea of blood. HSI - down 3.29% to close at 20,672; Nikkei - down 1.99% to close at 16,148, Shanghai dropped 2.14% to close at 4765. South korea KOSPI is the worst hit, 6.93% drop.

Europe severe selling again (drop around 2-3%). Dow -75 now. If Dow drops below 12,700 plus (long term trendline), we're gone.

This would be short and brief :) I'll be drawing defence lines for my stocks.

Pac andes:
0.590 (rights adjusted)- long term support, had been supporting the price since last april

Straits asia:
1.12 support, thereafter 0.990

2.40, thereafter 1.97 (long term support)

0.26 (ema50 days too), thereafter 0.205

0.38 (current price now), 0.340 thereafter

Lian beng:
0.36, thereafter 0.31

GK Goh:
1.12 (current price), 1.05 thereafter

Oh, Peru 7.9 earthquake last night... China fishery which operates around the area reported no damage to their operations. I realised how natural disasters and global climate directly affected me and my stocks, never see it that way before. Why are there so many earthquakes recently?

Hope those in Peru are doing fine. My condolences for those who passed on.