DOW down 140 points. So, that could drag down KLCI today? It is MAY ... May-Day, May-Day. It is sell in May, and go away?
Crude Oil : Dive below USD100. wow ... we are facing a double-dip?
USD : Weakening USD(vs MYR) could pose some problems to some sectors such as glove-makers and IT-related products. Some predicting USD to go to 2.80-2.90 by end of this year. As many do not expect QE3 to be announced, perhaps the weakening-rate will be lowered. Then again, gold(and silver) and crude oil could only go higher ... from here. Current correction in silver(I am checking SLV - it was down almost 12% yesterday) could be a good opportunity foe me who missed the boat. I was reading an article "Dont shoot the silver bull" and was thinking of silver.
Inflation: Rate up 25 basis points, could signal a higher inflation rate, with RON-97 up 20cents(again). Our money will become 'smaller' still ... wan-tan-mee costing RM5 now, it could go to RM5.50 or RM6(somehow the rate these prices going up are much faster than their production costs). Bread could go up again ... everything up!! Where is our 'zero inflation' motto?
Property : I have been 'surveying' with intention to buy a place to stay for ONE YEAR now. The apartment I am renting used to be around RM160k-RM190k (depending on size) but costing RM230k-RM260k now. Of coz we are in property boom, and many properties in 'hot area' up 30% or above. So, with our low wages, we could not afford even an apartment now. To buy a flat, I will be staying with many Africans, Nepalese and many more foreigners. Most of them working in factories nearby(Mamee is at the back of the apartment I am staying).
Stocks : While I have cleared off my YTLLand(at 1.88 and 1.83), I still have some UEMLand which in red. Holding to EAH at the moment as I made a bad mistake catching her when she dived.
PChem : During this correction, I will like to collect her. At support 7.05 now, looking at 6.75 level. RSI 40+. Wait.
9.55 am : KLCI down 10 points.
PChem : Touched 6.86, at 6.92 now. So, at 6.75 should be a good entry point.
Biolerm : Do feel lucky if one did not jump into the crazy buying in the morning and did not get out before lunch yesterday. It went from 0.82 to touch 0.99 level in short period of time before stablising at 0.84-0.86 level, only to close lower before closing. Today, it touches 0.70, at 0.73 level now. I learnt my lessons NOT to jump into a new IPO which shooting very high - I got the lesson from TAS(yes, an O&G counter) and cut losses then.
11.25 am : Quite free today as students going for their final exams next week. Will slowly collect my thoughts, trying to be focused and start writing down things that need my attention.
counter : 115, 000 at 12.35 pm.
Credit-card: I went to EON to clear my credit-card balance. This is my 'new' credit-card, sort-of given to me when I took my car loan from EON bank last year. I did not use this card for any purposes so far - so, it is kinda stupid of me to agree to have my third card. You see, we have to pay RM50 to the gov, remember? But, since it is 'free', many of us wont mind having them!!
I have cleared my credit-cards last month - ALL the balances when I sold off my stocks(before Sarawak election) and took out some money to clear credit-card debts. It is like a approved loan-shark, actually. So, at the moment ... next week onwards as I am 'free', I will cancel off my platinum(Standard Chartered) card which charging me a high annual fees. I shall maintain my EON(classic - I insisted it to be classic tho they offer gold-card). Another credit-card I am having is by AEON as I do shop at Jusco(points collection and such).
That is my credit card situation - I have reduced cash(in my investment banks) but cleared my credit-card debts, at least. I hope to be discipline NOT to use my cards and also pay in full the amount used. My insurance, astro, TM and such bills still go direct(auto debit) thru my cards. Cant live this world without cards these days, dont we?
BoilerM : Now I remember her, she is QL's baby. Hmm ... I really need to get my thoughts organised!
4.20 pm : KLCI down 10 points.
KNM : Long time no see, RSI 29 now. No longer sexy.