Flirting around 10,000 pts

Another week with DJIA flirting around 10,000pts. Locally, there is nothing much interesting, even DJIA is a lot more attractive than BURSA. Well, do nothing when there is nothing to do. :=)

Migration from Europe to US

1. Europe still very shaky. As mentioned, nothing can be changed overnight, not even ~$1 trillion.
http://www.reuters.com/article/idCALDE64D1PG20100514?rpc=44

2. US stocks: "Strong corporate balance sheets, rising profits, economic growth on an upswing and the Federal Reserve's pledge to keep interest rates low make Wall Street look like a good destination"
http://economictimes.indiatimes.com/markets/global-markets/Outlook-rosy-for-US-stocks-thanks-to-euro-woes/articleshow/5934953.cms

3. Locally, we are looking at a better GDP growth, OPR increased. Stronger MYR
http://www.themalaysianinsider.com/business/article/malaysia-q1-gdp-up-10.1pc-beats-forecast/

Give Europe some time to calm down. :=)

OPR, another 25 basis points increase today?

http://biz.thestar.com.my/news/story.asp?file=/2010/5/13/business/20100513110119&sec=business

No action.

chart from google finance

Stock Markets over the world uncontrollably skided and jumped. A head to head fight between Strength and Weakness? The fight has begun, nothing we need to do. Just wait for the dust to settle, before joining the game.

- European stock markets strongly recovered 5% to 9% yesterday, after falling for about 1 week.
- DJIA up ~400 pts yesterday, erased the big fall. ( the quarter earnings are solid)
- Europe crisis with ~$1 trillion injection. Wow..  well, nothing can be solved overnight.

BOUGHT 10,000 SCOMIMR @ 0.390 ahead of quarter report

DOW JONES dropped ~1,000 pts triggered panic selling.
http://www.smartcompany.com.au/finance/20100507-global-markets-rattled-as-a-typing-mistake-sends-the-dow-jones-index-down-9.html

Where we are at ?

We seem to perform a lot better than regional markets. Take a look at the chart above, BURSA is traded at 33.7% PER premium amongst its peers, highest since 2002.

Expensive? Better to take a step backward.

SOLD 10,000 MYEG @ 0.505

Sold the last 10,000 MYEG today at 0.505 (BOUGHT 0.440, 29/March/2010). The DOW JONES has been volatile. Better play safe.