18 July 2007 (Market correction or incoming of the berserk bear??)
Impact Number 1 : MND (Ministry of National Development) has give the death sentence to majority of the land developers in singapore effectively by rising the development charges from 50% - 70%. These has finally amke me understand why the properties counters did not join in with the market recent rallies. Several warnings - (MM Lee mentioning about the property, burst failure of indicators) has been hinted to me but I did not hailed them planning for my cut loss on caps warrants. Now, it only left two months of time value... and I need to quickly decide on the actions to take....
Impact Number 2 : Selling Pressure was high this few days, there was a ususal tension in me and decided to withdraw my buy order on project fish. Got too chatty on the market direction. Glancing back to my trading platform at around the price was already beyond my buy price... In fact, at 3.30 p.m. there is a massive sellout across all counter in SGX.
This may be link with the collapse on the 1.3 billion hedge fund in US... Thereafter, the markets across the world is filled with bloodshed!
Hang Seng - 215.38
Nikkei 225-201.69
STI -67.08
Conclusion: Dow to fall tonight!
Heavy casualties to contra players!
There are alot of contra trades going on lately. Will advice to cut losses! For those who failed to cut due to system failure in trading platform better act quickly tomorrow!
Damages report: My portfolio is badly affected as well will be planning for my cut loss price tonight....
Action: Will revert to bear operation to tame the big gizzly bear!
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