Thursday, May 31, 2007

We missed the boat! Dow breaks all time high 13,633.08

What a pleasant surprise!

I was aware that Dow had a strong showing last night, after it reversed a -52 pts drop to a +36 pts before I went to bed. I didn't know that it closed +111.74, breaking new high too!

Yesterday there was a FED meeting. The interest rates remain unchanged at 5.25%. Nearly all participants viewed core inflation as "uncomfortably high" and left the rates untouched for the seventh straight session. That left quite a number of economist saying that the fed minutes suggest strongly that the FED might left the rates unchanged for the rest of the year.

Shanghai bourse closed +56 while HK rallied strongly to close +340. Too bad STI was closed, otherwise we would definitely have participated in this worldwide rally too. Dow remains the only bourse strong enough to deflect the direction set by china's stock performance.

Actually what's important is that yesterday's Dow performance. It's tonight. If Dow closed positive, STI wouldn't have any excuse not to rally even though it's Fri. Let's see how it performs later. Dow futures stand at +26. Europe is all green.

Tmr might see some action in SIA and pac andes. I hope more action on pac andes, vested interest :)