The DJ snapped back from being down last night. According to Reuters, investors are moving into more defensive stocks, so this drive the DJIA up during last 30minutes of trading.

http://www.reuters.com/article/businessNew...&feedName=usdai

I expected horrid bloodbath last night, since Asia and Europe all down 1%+. The Dow did drop in mid morning to about 8200 but then rebounded. I looked at it around 12am, it was 30 points down. Wake up next morning, its 44 points up.

This week, most investors will be looking at the quarterly performance of the companies to determine if the world is on the road to economic recovery and whether those Bernanke Green Shoots do not turn out to be Lalang Hijau...

Banking sector has been upgraded from Neutral to Overweight by CIMB Investment Bank. Top Pick changed from PBBank to AMMB. Two other Financial Houses have Outperform calls: Allianz and RHBCap.

I will now not share the file anymore, due to copyright statement:

This publication is strictly confidential and is for private circulation only to clients of CIMB. This publication is being supplied to you strictly on the basis that it will remain confidential. No part of this material may be (i) copied, photocopied, duplicated, stored or reproduced in any form by any means or (ii) redistributed or passed on, directly or indirectly, to any other person in whole or in part, for any purpose without the prior written consent of CIMB

**If you want to read the file, PM me.

Neutral....Neutral for a long long time already... Don't kick out la...I also holding Maybank. Maybank and PBB are my portfolio 2 banks.

Say, any reason why BJToto being pushed towards 4.9x? Looks appetizing now, but just want to make sure no adverse news before queing.

Mengapa? Mengapa??? I would like to know y the strong sell q......

Not for me though....Asking for fren...Haha I swore my hands off this VT company already....Very fake fake one...Too many BJs out there, scare me...BJCorp, BJLand, BJToto,

---

Added on July 7, 2009, 3:00 pmWaiting waiting.....

This post has been edited by VyvernS: Jul 7 2009, 03:00 PM

No wonder......Thought our CI so good....45 minutes can keep at -1.65

Furnweb....Boh trade at all liao....Bought at 0.44, now 0.39, if close 0.39 tomorrow will be 0.36....

Ah....take the dividends and close book on this counter until next year.

On a side note....Astro is rising so much so fast, i think that's one of the reasons why the CI green...Haha

If got Tan Sri-Tan Sri and their syarikat push up one company each day, perhaps we can have green CI for whole month. Hahaha

@protonw....

Too lazy to PM. Did you receive the research paper on banking sector?

Yup, its me!....I knew the risk to be high (low volume, high price)....And yet jumped into the boat.....

Now, see my money stuck. But it gives 3sen dividends so far consistently per year since 2007, i think just hold on is still ok. Only the money is tied up.

At this point yesterday, DJIA futures were down -77, oil prices sliding.

Yet, at the end of NYSE trading yesterday, end up DJIA +44.

What gives??

Anyway, the last time it drop 3 digit, cannot mega sale also. Barely even any good price to buy. Hai...

This post has been edited by VyvernS: Jul 7 2009, 04:04 PM

Here: http://en.wikipedia.org/wiki/Chaos_strategy

Talking about Chaos Strategy, and other principles in general, I was speaking with my apartment Maintenance Manager the other day, and we got on talking about the stock market.

He is a believer of the Elliot Wave Principle. Anyone know about this or follower of this strategy? Based on this principle, still got one more big downwave to come....

Here it is from wiki: http://en.wikipedia.org/wiki/Elliot_wave

Not really sure. It is only for reading yeah. I did not share it for determining where the market is.

There is one analyst who goes by it. He has his followers but also critics. This is a write up from the Wall Street Journal:

The Elliott Wave Principle, as popularly practiced, is not a legitimate theory, but a story, and a compelling one that is eloquently told by Robert Prechter. The account is especially persuasive because EWP has the seemingly remarkable ability to fit any segment of market history down to its most minute fluctuations. I contend this is made possible by the method's loosely defined rules and the ability to postulate a large number of nested waves of varying magnitude. This gives the Elliott analyst the same freedom and flexibility that allowed pre-Copernican astronomers to explain all observed planet movements even though their underlying theory of an Earth-centered universe was wrong.

haha….

Every few years there is a downturn. But the tools to handle the downturn can change from time to time. The market crashed in 1906, there was no Fed. So 1912 they create the Fed. Then in 1929, the market crash, because no SEC. So they create SEC. So this time round, 2008 crash, no money. So they create money…trillions and billions of it.

Hahaha I like your Kinokurnia….Its Kinokuniya ler…. 

Yup, chyaw recommend this book. I also got it. It is RM70, but if you buy at some stores with discount, get cheaper. The publisher wanna sell me at RM66. I tell him wait, next week I go buy. Then weekend I go Popular with Popular card and buy at RM63. Too bad, publisher not competitive enough.

This post has been edited by VyvernS: Jul 7 2009, 04:40 PM

Need to...need to...Sadly, I am also on a discount salary. 10% discount

So my lifestyle need 10% discount too....

Hi hi Omores...Long time didn c u online.....Hope you are doing fine

@David_Brent: Not only in Australia. When I go into the US, I am always fearful I might statiscally end up being one of the victims of a 'cavity' check.

@omores: Don't worry. If things turn out well, you should be getting good $$$.

@OldKidz: Did not need spot. Long time ago, already people recommending these 3, Hartalega, Kossan, TopGlove. Rubber Glove industry is considered Overweight at this moment, especially with H1N1 around.

All - Probably most folks already leave office going home. Lets see how the market turns out in the morning.

Europe is now green, +1% or so, and DJ futures are green. I expect DJIA to close up at day's end.

Bye!

me too....where is moorish?

She had some Uchitech too....Wonder if she hold or not too....

Hey Moorish....we were just talking about you this morning! Congratulations!

chyaw - are you considering cutting loss on Uchitec?

protonw - what was your ABP?

Look look see see not many supporters on Uchitec anymore since its drastic >10% drop since ex-date. I have ABP of 1.25 hence seeing quite substantial drop.

Here is 3.28....

I jumped off the Sealink already.....Did not want to wait the dividends...I am already 12% up, so just dumped it for the cash.....