& you're the one for me ;

Saturday, July 28, 2007

sian 1/2 .
my +9 ma crystal flower earrings got destroyed .
all thanks to 30% earring for int scroll . (3.3m mesos)
also failed one 70% helmet for int out of two . (2.2m)
so passing the last scroll , a 70% overall armor for int , was scant consolation to the 20+m that i've bombed away in the process .
oh well .
guess i'm not lucky at all tdy .

looking back at the past week , life at school sure gets tougher .
timed practices are taking place at full steam .
for all subjects except physics .
but there will be one for physics this coming mon too .
i was late for the first time in my jc life last wed .
and there goes my perfect punctuality record . >.<

on the finance front , the dow jones industrial average suffered yet another triple-digit loss on ytd's overnight session, falling by another 208 points to compound investors' misery even further .
the index already lost 220+ points on tues and 311 on thurs , as fears over the global credit crunch having adverse effects on global economic growth intensified from mid-week .
a direct result of the DJIA's crash on thurs , asia-pacific stocks were soaked in a bloodbath on fri session .
the taiwan weighted index plunged over 400 points , just when it was inches short of the historic 10,000 mark , the hang seng lost more than 640 points , and the nikkei 225 dropped by 418 .
as expected , singapore shares were not spared .
following a 53.86-point drop the day before on poor manufacturing output data , the straits times index plunged by another 87 yesterday to end at a two-month low of 3,497 , breaching the critical mid-term support level of 3,500 in the process too .

so how does the 'weather outlook' for regional indices shape up in this coming week?

continued weakness of the DJIA on fri showed that more selling could be ahead .
you would rarely see the index falling by triple digits on consecutive days .
so when this happens , it doesn't bode well for market sentiment .
expect more profit-taking for the first half of the week .
as some analysts pointed out , this could possibly be a start of a major correction that is long overdue .
my target level for the STI for end-2007 remains at 3,150 .
and no, it's not because i'm an absolute pessimist .
but let's be realistic .
certain shares like SGX have skyrocketed way above their valuations .
so is the case for penny stocks , with the UOB Sesdaq briefly breaching 300 points before retreating in line with the mainstream indices .
therefore for now , sell while you still can .
short-term support level for the STI : 3,350/3,370 .
short-term resistance level : 3,550 .
if the STI falls below 3,350 in the coming fortnight , expect the market correction to be prolonged till end-august . (this is the worst-case scenario)

those memories. 00:23