Friday, July 20, 2007

I got 1 excess pac andes share!!

Haha, today I logged into CDP to check if my Pac andes rights had been allocated to my account.

I am supposed to have 8 lots of pac andes shares in CDP, because initially before the rights issue, I had 4 lots. After the 1-1 rights exercise, I should get just 8 lots. However, I applied for 6 excess rights because the price for the rights share is at a huge discount to closing - $0.52 compared to yesterday's close of 0.895 (42% discount!!). It's almost like buying $1 for 58 cts!

I'm pleasantly surprised to see that in my CDP account, I have 9 lots of pac andes!! Haha, that means out of 6 excess rights that I applied, I kena 1 :) Taking into account that the excess rights had been oversubscribed around 20%, I think I'm quite lucky :) I've applied for so many IPO...yangzhijiang, fabchem, sino-env....never even kena one before!

Must be my visualising at work...haha! I was thinking a few days ago that at least must get 1-2 excess rights, then I really got 1!

But today pac andes undergo some selling. The transactions are very funny, take a look:

It's like so systematic and so orderly. Earlier in the morning also very funny, it's 1 - 2 lots selldown. Usually the orders don't come so nicely's sometimes 3 lots, sometimes 12 lots, sometimes 25 and so on...but this is really funny. First time that I see such movements.

I wonder what to make of it?

STI doing quite well at this point in time: +44 now, way off ema20 days. Might even be testing resistance later. What I'm afraid is policy changes over at China again. Saw their growth rates hit 11 plus %...sure have some tightening here and there, might cause some reactionary sell off in HSI and shanghai and spill over to here.

Constructions seem to rev up today :) To rally it, let's shout: CONSTRUCTICONS TRANSFORM AND RALLY! haha :)