Market... too dynamic to remain static...

The perfect speculator must know when to get in; more important he must know when to stay out; and most important he must know when to get out once he’s in - anonymous

I was shocked when I woke up this morning.... I saw a msg from my friend on my Iphone, "Wat a day in US?" I frantically check the market indices, only to realised that DJ has dropped 347.8 points. I was really worried... I thought the market is going to crash down today.



STI did open low at 2779 today and drop about 20 points. By now, it has recovered quite a bit(2820). Later, reports mentioned that Dow Jones actual losses may not necessary be the closing price, it may be due to a technical gitch which created some error trades in the electronic trading system. The cancellation of the error trades help to alleviate the pain for the massive sell down today. It's is a good thing that STI can still stay above the support level at 2800 today. However, tonight Dow J performance will be a sign to our next monday's market direction. We are all anticipating... Perhaps, prepared for the worst...

Still, overall sentiment for the market is weak. Selldown is very strong and funds are taken out. News and reports are pretty negative. Please be cautious with your trading activities.

07 May 2010 11:00 CST DJ MARKET TALK:
A Case Of Jitters For Asian IPOs? -HEARD ON THE ST 0300 GMT [Dow Jones]
To lose one initial public offering in a week might be a misfortune. To lose four is a sign of real problems. That's the worry in Asia after Swire Properties pulled $3.1 billion flotation Thursday, due to lack of demand, marking HK's second failed listing this week. Giti Tires postponed $500 million float Tuesday. Singapore and Bombay have seen failed IPOs. Specific reasons given; in Swire's case, some suggest pricing was too aggressive. Still, Swire's strong reputation in HK might have supported a higher price in a firmer market. People close to other imminent IPOs suggest demand still strong; investors may simply be becoming more selective. But Chinese authorities' response should be closely watched, as some large Chinese bank IPOs are in pipeline, including Agricultural Bank of China's (AGBC.YY) planned $20 billion float. See "HEARD ON THE STREET: A Case Of Jitters For Asian IPOs?" (AJP)