Wednesday, January 9, 2008

Life & Death

STI ended the day at 3344.53 points, up 6.26 points. The number really tells a lot. 3344, in Cantonese, it reads as Life Life Death Death! It is a matter of life & death at 3300 points. Once the 3300 points support is broken, STI will go straight down to 3000, the next support level.

STI dipped below 3300 points at start, then it slowly but steadily recovered. In the afternoon, boosted by the optimism with the 500 points rise of Hong Kong's Heng Seng Index, STI gained 6 points before market closed.

The new report season will start this Thursday (Singapore time), how good the big brothers such as Citigroup, Morgan Stanley, Goldman, etc, will influence which direction STI will go. STI is weak, flirting with both life & death.

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