Monday, January 14, 2008

Brutal selloff today

What a brutal selloff day today. I'm not going to quote the new STI anymore because I think it no longer represents the broad sentiment. It's a big joke when I see that the mass market is selling like 5% or more, STI only drops 40 over points. It's just pure crap.

Stocks after stocks, support gets shorted down again and again. It's been sometime since I've seen such fierce selling. HSBC still didn't close to where I wanted it to be, so no action today. Hmm, the short sell that I made last Fri...if only I had the proper instrument, I would have profitted handsomely. YZJ dropped 0.140 from last close.

Ecowise finally broke out of trading halt..lucky them, missed the whole action today. They announced a tie up with Holcim, one of the world's leading cement and aggregates suppliers for the purpose of maintaining and operating an industrial materials recycling and processing plant to recyle and process copper slag in Singapore. Interesting development.

HSBC support might be nearer to 123. I think 120 is still a good level to go in. More selldown tmr? haha :)

I'm going to be extremely busy the next 2 weeks. Might not have time to watch the market, better queue now, haha