Sunday, July 22, 2007

Prepared for Monday?

Hey hey, I got the confirmation from CDP that I was allocated 5 lots of pac andes shares (4 allocated and guaranteed plus 1 excess lot). It also said that any refunds of funds not used will be done latest by 24th July. When I checked my bank accounts, I found that it had already been refunded to me on 20th July, the same day that the pac andes rights shares are traded.

That wraps up the whole episode of the pac andes rights exercise. Actually it was a good experience because now I know what to expect and go about applying for rights shares when I encountered it next time. Good reference material :)

Dow hit resistance at 14,000 and retrace back. Initially the drop was quite drastic, around -200 points (google and caterpillar missed earnings expectations). But later, it rebounded back to around -150 to close at 13,851. This might have some effect on STI's opening tmr. Oh, not to forget China interest rate hike...hmm, bargain hunt? haha

I've heard that besides china, bank of england is also looking to increase rate by 0.25% to curb money supply and cool inflation (as soon as next month). Of course, there is bank of japan. Wow...strong macro forces at work here...might just trigger off some major selldown. Take heed.

China transcom

Not sure what to make of this. Charts still look okay to be, despite the selldown. Support at 0.485 and resistance at 0.545. Might look to cut if it falls below 0.485. If resistance at 0.545 is exceeded, might reach my flag target of 0.645. Given the bad sentiment, not much chance of it reaching soon. Keep in view.

Construction stocks might take another beating again tmr. But after last wed's selloff, most are still bruising...hard to say what might happen.

Take a step at a time :) Have a great week ahead!