EOD Update (22 May, 2006)

Another "killer" day at the market... there goes all the retailers and stock market "kakis" coming out in the last 2 months to catch the impending "bull run". Times like these are an excellent reminder just how difficult it is to consistently make money from the market and also to never get too complacent.

I still hold to my opinion that the recent weakness in US markets is justified and should not really affect Asian markets in too big a way, as long as there is no monumental collapse. But who am I to argue against the world? As we can all see, not only has Bursa M'sia been affected, but virtually global markets as well. The only positive sign on our local market is the emergence of more and more foreign parties/funds, including Fidelity, Goldman, Atlantis, Cornell, Harris Associates, etc., picking up stakes in Malaysian PLC's. Even The Edge online had an article on this today. Is there a message in this buying, when stocks are being battered and local investors are dumping shares left, right and centre? Sure, the big boys make mistakes too, but their long-term track records should speak volumes.

In the meantime, I will continue a cautious selective buying approach, until it's clear to me that all hope is lost for now.

Latest purchases:

SAPCRES-WA: +10,000 (0.34) ... Total 10,000

OILCORP: +5,000 (1.10) ... Total 20,000

Latest disposals:

JOTECH: -10,000 (0.785) ... Balance 0

GPACKET: -3,000 (2.69) ... Balance 4,000

SCOMIMR: -5,000 (1.37) ... Balance 0

SCOMI: -6,000 (1.16) ... Balance 0

JAKS: -10,000 (0.495) ... Balance 0 (Big profit became nothing...)


/ichithekiller