EOD Update (12 December 2006)

Quite severe correction today with CI down 13.3 points and 826 losers vs 132 gainers. METPLEX was hit with a delisting notice for failing to submit a viable restructuring plan and promptly dropped 33.3% to close at 3c (at one point down > 40%). I started accumulating some METPLEX as a "side bet" prior to starting this blog, so not sure if I previously reported the buys here, but since I'm reporting all trades now (except one), I will include it here. This demonstrates the danger of "playing with fire", but I was fully prepared to face the risks. Now that a delisting notice has been served, I've no choice but to cut down on it.

Also continuing to cut down some other positions, in case the current correction turns out to be more severe than I expect. Basically, I will do whatever possible to protect current profits and to avoid winning positions turning into losers. If the market bounces sharply, then too bad ... I'd rather be safe than sorry.

Latest disposals:

METPLEX: -100,000 (0.03) ... Balance 179,000

NAMFATT: -5,000 @ 0.45 ... Balance 10,000

JAKS: -10,000 @ 0.47 ... Balance 0


/ichithekiller