Mid-Day Update (20 August 2007)

Song: 千里之外 (Qian Li Zhi Wai) By: 易桀齐 (Yi Jie Qi)



Was away, so missed all the exciting action again last Thursday evening and whole of Friday. Apparently the CI was down around 60pts at one point but rebounded strongly to close down only 16 pts or so. Many counters were down big but also followed the strong CI rebound to close way off day lows, with some even closing in the green. So looks like I missed some good opportunities again, but who knows, if I'd been around I may not have had the kahunas to step in in the midst of the so-called "bloodbath" ... or maybe prices will suffer further rounds of selling, so that what in hindsight now looks like extremely cheap levels last Friday at its lowest points, may actually go even lower in the near future. Updating recent transactions all together:

Latest purchases:

APB: +3,000 @ 1.68 ... Total 13,000

MUHIBAH: +1,000 @ 6.70 ... Total 8,000

EBWORX: +10,000 @ 0.41 ... Total 10,000 (Back in for 2nd round after complete earlier exit with good profits)

Note: US Fed last Friday cut its short-term discount rate by 50 bp, instead of a Fed funds rate cut. Dow rallied strongly to close up 233.3 pts.

/ichithekiller