Thursday, October 11, 2007
Bull vs Bear (11 Oct 2007)
Flat. No action on the Malaysian front while HK and SSE are hitting new high. But beware, HK is approaching 30,000 while SSE is approaching 6,000! Correction may be around the corner.
BOC A & H shares have broken out. Someone bought every share in BOC-C1 in the last few minutes until no sellers left. Crazy, the premium is too high now. Well 10% is consider high when most are trading at -1 to 1%. Unless BOCs move up, I think that BOC-C1 will drop back.
Sinopec also broken out today. Following the path of A-share. Hopefully, this laggard will be able to chase after the leaders Petroch & Cnooc.
I rearranged my HK CW by cutting out Cnooc and buying Sinopec. I am thinking that a breakout play should have stronger momentum to go higher and faster. Anyhow, I'm keeping my Petroch CW as it will be listed in SSE soon.
Looking out at IOICorp. On the verge of breaking out.