Wednesday, December 20, 2006

Market got Thai *Hokkien

Market was whacked on Tuesday by the stupid currency policy by Thais. They must have shorted the market! Because they reversed their policy at night! Maybe they are partying at some part of Bangkok last night? Why? Because as soon as they cover back their shorts, they went long! hahaha Thai market rebounded 11%!

I sold my HSI CW which i caught last Friday. In theory, after a breakout of it's 19.1k resistance, there should be a pull back. Hence I took my profit and waited for the pull back. It came, but the pull back was hard and fast and sharp! This is news induced and hence theory was thrown out of the window. Instead, I related the incident to that of the Thailand Coup earlier in the year. I went with my view of a market knee jerk reaction and bought another HSI CW. I haven't sold yet as I see 19.4k possible target. Global markets are recovering from the Thai cock up and I think after the flushing, now we have buyers ready to step in after cutting loss.

I am still not aggressive on stocks as i think most of them are in trading range. However my eyes are on window dressing next week. Friday should pick up 1 or 2 more.

Current Holdings:
Tat Lui

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