Let's wait and see

My previous broker returned my call already. She told me she had no idea why there is a broker aided trade (meaning calling broker to make an order) when she didn't receive any calls to buy oakwell engineering. I told her there's no way I could have made the call simply because I do not enough know her phone number until she called me!

The call ended after she said that she'll refer the matter to the backroom staff to settle. I think i'll just wait and see how it goes. The episode is more or less settled lah. Must make a big thanks to the people at POEMS - quite good customer service. I remember talking to some rude guy over at dbs vickers and he sounds like I disturbed their sleep or something :) Thks to jeng for helping me out too!

STI was good for the early morning, but just dropped throughout most of the day. STI dropped 30 points to close at 3809 with a volume of 2.8 billion. To me, STI can't make out its mind to rise or drop. I wonder if the volatility has anything to do with the earnings seasons. I remember earnings seasons are characterized greatly by sentiment.

I'll not comment on the prices of stocks. Simply no point following up and down each noise to try to decipher the trend. Still having sold anything yet, waiting for the right time :)

A few announcement to share:

1. Yongnam is proposing for rights issue of warrants, with each warrant carrying the right to subscribe for 1 new ordinary share with an exercise price of 0.25 for each share. The rights issue can be subscribed by shareholder at a rate of 3 warrants for every 10 ordinary shares. This means that if you hold 1 lot of yongnam before they XR, you are eligible to subscribe to 300 warrants which can be exchanged for 300 shares for an exercise price of 0.25 per warrant. The warrants can be traded on the open market if anyone wants to buy the warrant or sell off the warrants.

Scary huh? Every other construction company is issuing shares placement, warrants, bonds or whatever to raise capital. This is just another venue (besides borrowing from banks) to raise capital for their business. Looks like they are preparing for construction boom.

I'll post more when I receive the OIS. Haha, looks like this time I'm more experienced in handling such things, having went through the whole process with Pac andes earlier this year.

2. Swissco expands its fleet with 4 more vessels worth SGD 11.2 million. Marine, offshore sector still booming ah? What I can say is that this sector is taking a breather. I know because they key leadings in the market didn't rally. I guess must wait for their turn. Still bullish on this sector, esp given the high oil prices. More incentives for people to do more oil/gas business.

Europe all red... Dow not doing good too, -30 pts now. But I don't think we're too affected by Dow nowadays. China and HSI plays greater role in deciding our direction now.