STI tanked down today...dropping 1.85% (64 pts) to close at 3397 with a volume of 1.5 billion. All the big shots are shot down...DBS, SGX, Kep, CityDevlop, SIA...dragging STI down in the second day of trading for this new year 2008. Could the party be over now? Don't want lah, I'm still hanging over...
Construction stocks is definitely heating up. While STI dropped, construction stocks are the ones that bucked the trend. Those in my watchlist, CSC, Koh Bros, LB, YN all went to close positive. LB and CSC are broke out of downtrend with higher than average volume, despite the overall bad market sentiment. Could be looking at contract wins...waiting for trading halt.
My portfolio was pretty okay despite the selldown today. Basically from -500 to -1000 only. I think my counters are well supported (also goes to show that I didn't buy at high anymore). I'm actually quite unfazed by all these movements, which is so much different from the past. I think that's a good sign.
HSBC dropped to HKD 129.50. My plan is to add in more when it reaches 120. As for CSC and YN, I plan to sell half upon breakeven and depending on market sentiment, I intend to cut all. Don't care so much about the gains, I'm focusing on protection of capital and holding cash for the big big sale ahead.
I think that's about it. Good luck!
Thursday, January 03, 2008
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