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| Wednesday, October 17, 2007 |
| Good recovery but.. |
Good recovery, but we should still be cautious. Even if it was a price shock yesterday, one shouldn't take off the fact that the market is currently very weak. Our market at the moment is reluctant to move. For today, I hesitated reentering CAO at 2.61. I think I won't be able to get at such a price, but CAO will consolidate. In fact, very seldom do you see stocks still continuing its course after one day of sharp fall.
My strategy is to keep more cash available at the moment and wait for the dust to settle. To me, what is most important is capital preservation. Today, I have loaded some FerroChina @ 2.57 and I will relook the situation tonight to see if I will load in some positions tomorrow. Most importantly, I need to have cash to ready myself. Furthermore, I will now limit my holdings to at most 7, excluding MMP, STI ETF and Gold.
P.S This reminded me of the dead cat bounce few months back and I think I will be more vigilant this time round.Labels: FerroChina |
posted by Nenix @ 4:39 PM   |
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| NenixDreams Fund |
| Fund launchprice on 1st August 2006= $1
Target for 2007 = Beat STI index
Current price of NDF as of 1st Oct 2007 = $1.58
Current price of STI as of 1st Oct 2007 = $1.54
Difference with STI index is 0.04
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