Another down day

STI dropped 29 pts to close at 3411 with a volume of 1.645 billion. It's a quiet day at the markets, but the slaughter is still there.

Market didn't perform well these few days. This comes from a week Dow performance. With all the reporting season gone, investors should look at more impact of the subprime and the rate cut possibility more closely. Dow should be as volatile as ever, but I really hope it'll stabilise.

Some news to share:

1. JP morgan chase sold down their stake in Yongnam. I would expect the price of yongnam to move towards the warrant issue price of 0.30, so that the underwriter CIMB-GK do not have to take in all the shares themselves. Until after the rights issue is over, I don't expect Yongnam to have an momentum to move up.

2. Swiber incorporated a new subsidiary company - Kreuz offshore marine pte ltd - for the purpose of engaging in offshor marine support business. Nothing much of interest actually.

Been busy towards the evening compiling key data to do my first financial analysis of Aztec. I do not have vested interest in it but is doing to compare notes with noob. It's better not to do FA on companies you have vested interest first - this is to have objectivity and reduce bias-ness. Learnt a lot by doing a lot of detective work and cross-referencing between 5 years worth of annual reports. Wah, I can't make it already, need to carry on next time. So far, so good, as my calculated ratios tally with the official figures.

Will probably take at most 2 more days to finish up, then I can blog my first ever FA of a company. It's pure hardwork but the satisfaction is immense - I can only imagine the kind of confidence it will give to hold the stock after a thorough run through financially. I only hope it'll take less time next time - I already spent like 4-5 hours on it and still not finished yet.

Oh well, Dow don't look too good. As of now, it's down 72 pts, dangerously close to support level of 13,000.