A hum-drum day on the performance front

As it turned out,in terms of gains, TA(+6.4%) turned out to be the best performer of all my open positions, followed by WTK(+6.0%), while Keladi gained me coffee change by rising 3.7% before I disposed of it.MPI brought up the rear with a 1.8% gain.

Most second liners, including Keladi softened considerably by the close,and, as a result, the rest of my open positions(with the exception of MAA Holdings) actually fell by the close so I would have been better off buying them today, BEFORE the humongous Dow surge, than yesterday!


Why did I enter the market yesterday? It was due to sense of something positive brewing, especially seeing the market action after 3pm. The KL Composite Index actually made a V-shaped recovery intra-day, and having only entered TA and MPI until 2pm, I was emboldened by this seventh sense to increase my long positions.

The bulk of my gains for the day came from DBS Holdings' call-warrants expiring March '08. However, it wasn't an easy battle to resist the temptation to sell in panic after I missed the 16.5c opening price as the mother share hit $20 only to see it slide to 14.5c/15c as DBS slid down to 19.60/19.70.

I had averaged down from 16.5c since Friday, and finally made my decision to go for broke at 13.5c just an hour from the close yesterday because, after poring over 20 charts of DBS with various indicators, I decided that a temporary triple bottom was taking shape.

The warrant taunted me the whole trading day as it refused to go past a big block queueing to sell at 16c but hung anaemically at 15/15.5c, a paltry 10% rise from its previous 14c close. It only rose to 15.5/16 when the mother decisively broke 19.80 and went past $20 in the late afternoon!


I was actually spooked enough to throw down almost 30% of my holdings to 16c, and this was done only barely in time.

The decisive moment came at around 4.20pm. when buyers started clearing the 20.10 overheads in the mother share. Because I had queued since 9.10am, my remaining line was nearly in front of the more than 3000 lots queued to sell at 16.5c.

Mercifully, at 4.27pm, the confirming SMS came that all my lots were sold.


I would have been much better off conserving my time and effort on the Merrill Lynch warrant which rose 25% with no difficulty, and was cheaper to boot!



I was happy with my Creative position that I had queued for at around 10.15am, was done 15 minutes later, and closed 1.6% higher than where I bought it.