Monday, January 28, 2008

No time to stand and stare

Been quite busy these days, so hardly have time to do a quality posting or a good reflection of those books I've read.

I think by this week, I should be more free to at least do a reflection of the Investment Madness book that I've covered a week ago. Market is gyrating up and down with huge up and down movement. Haven't been looking at charts for some time, so I've got no idea where are the supports/resistances. I only remember that 3000 is a support level and the last low is around 2800 thereabouts. It's crucial not to break below the previous low.

Fengshui by Raymond Lo said that when the earth rat comes in, the market will be more stable and less volatile. It remains to be seen, of course, but we'll know soon enough with the chinese new year approaching in another week's time. In the meantime, stay tuned for more announcement by FED when they go into a two day meeting starting tmr and wed. Some say that they will cut another 50 basis point after last week's emergency cut of 75 basis point.

DJ stands at -72 now.