Another bad day for the my stocks again!
Bad sentiments for S-chips listed in Singapore is looming due to the recent 2 cases of China Hongxing and Hongwei (which was in my radar previously) of their accounting issues. Both companies are suspended now. There is also an article - Confessions of a S-Chip CEO, which is circulating further dampen the investors confidence for S-Chips. Textile stocks are particularly badly affected today.
http://nextinsight.net/index.php/story-archive-mainmenu-60/36-2009/1080-confessions-of-a-s-chip-ceo-unabridged
To play on the safe side, I cancelled all the queues last night except for ISDN after reading the articles. However, didn't any trade today even though ISDN hits 14.5cents.
Strategy for tomorrow:
HSI, Shanghai Index are both up today. Dow is up 80+ points at this point of time. Only STI was down. My take is tml STI will gap up in the morning but weakness will kick in during the evening trade. Trading range should be ard +20 to -20.
Will continue to queue for ISDN @14/14.5cents. As for China Taisan, post good result but still pending announcement for its dividend. As long as the company continue to give out dividend to show investors that they are really having the cash that they claim, confidence will flow back and I believe the price will return to at least 18cents. Hence will be queuing @14.5/15cents.
Will watch and see how the market turn out before deciding the next step.
Hope everyone is doing fine! HUAT AH~!
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