Wednesday, November 28, 2007

Accounting Issue Again

Can you trust quarterly report again? Accounting is not + or - anymore. I thought it was a boring work. My perdagangan class was so boring that I decided to do something else. Oh boy, was I wrong. Accounting is itself an art. Look at Transmile, you need forensic expert to uncover the worms inside. What can the common man in the street do? Hard earn money gone. Cry also no use.

If one cannot trust the numbers, then how can you make your investment decision? My solution is chart reading. But this is not a simple as abc. Chart reading is an art also. At least your fate is in your own hands.

Talking about charts, HK seems to be stabilizing. Hopefully no more volatile moves. The first counter to come out of this consolidation maybe Cnooc. So watch out. No signals for Cnooc-C1 yet. Since it only have 3 months more to live, I'm staying out until I'm sure that Cnooc is going up. I think Cnooc-C2 is in the production pipeline. I think it's better to wait for it before making any decision.

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