Wednesday, July 19, 2006

Market close mixed amidst profit taking

After a strong start, market closed mixed with upper shadow signalling profit takings accross the board. Too many data and results coming out of US this week. Ah Ben is going to speak again tonight and I feel market is being cautious of what can happen.

I picked up HSI Call warrants in the morning and when HSI opens, the call warrants went up. Swee! However it closed at my buy price. I bought because Nikkei open strongly and I remember the day before, HSI defies gravity and showed some strength in staying afloat 16,000. US charts suggest more upside this week. I didn't sell because I think US side can still have more upside and am willing to bet. Furthermore, the way I see Nikkei not going down despite heavy selling on tuesday as a good sign. Infact a friend added that he saw it as a chance to pick up cheap.

At the point of writting, DJ is up 120 points!!! wah! Both HSI and Nikkei have plenty of room up north...this time song liao! :D

My plan for tomorrow will be, if i wake up and see DJ close in the hundreds, i shall add my HSI CW and look to add my Cosco. Most of the stocks will gap up tomorrow, hence i shall focus on my current holdings. If stocks stay strong, i might pick good ones at 4pm.

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