Tuesday, March 13, 2007

Steady, it's still intact

STI down 23 points, HSI down 100 points.

I just checked the charts for HSI, looks pretty okay still, uptrend recovery is still quite intact. Actually, STI too. Basically I'd like to believe that the recovery is still on the way, today is just a shakeoff from 5 or 6 days of up days.

It's actually Dow that I'm worried about. Dow is rather weak these days. With a slew of economic data that are not in favour to a bullish sentiment, I think Dow could hinder or at least affect our recovery. When US sneezes, asia will also catch a cold. The bugbear for US is their housing/mortgage thing. I never really read what's the big fuss is their problem, I just want to care about how this can affect us.

I'll be busy this week (it's the March holiday for school), so might not be able to trade as often as I like. Might not be such a bad thing too, good for me to take a break.

I don't know why yellow pages rallied up so much today. Nearly added 10 cts, which is like an 8% increase. Considering that yellow pages usual movement of the day is 1 cts/2cts, this is really a lot. I scanned through the sgx announcement website but there's nothing regarding yellow page. Must be people knowing something that I don't? Or people are going for defensive stocks which yield good dividend? Hmm, I can't tell.

Either way, good for me. Good trading tmr! Dow -65 now. Europe a sea of red.