End of Day yada yadas
Jun 03, 2008 in My Shout Outs
Just a quick yada-yada before I get off work. I will be going over to have my lovely oyster nite (1 buck a pop) and goodie fresh seafood. I reckon perhaps, just perhaps, this place’s fish n chips may beat the one in mandurah yet. I shall see. It is gonna cost me but heck, it is worth a try.
Onto the markets, the US began its drop as I anticipated (in the earlier post). Singapore unfortunately, isn’t spared the bloodshed as even HSI failed to escape the bad sentiment. I am beginning to lose money again. This is very smilar to the Jan-Feb period which I have since learnt and identified as a ‘non tradable period’. When buy/sell calls get wrong often, it signifies volatility and that the transition in between waves is imminent. The whole idea is to realise this quick enough so losses are kept to a minimum. So perhaps the tide is changing yet again. With a wave 2 rebound that we’ve seen, the next one is a wave 3. Just as strong, and it can last up to half a year even. Wave 3, by the way, is a down wave. I remember George Soros saying he is back to work to guard his portoflio. I know he has been short selling financials since last year but I believe he has to move his portfolio a little to fit market sentiment. One thing bout Soros is, he’s great at timing. A lot of indicators that I see, lead to what Soros has described too, in terms of time-horizon. Could it be worse than expected data from companies, GDP and all in the next reporting season? I don’t really know. Expect some rebounds here n there (bull run within wave 3) but the trend is generally down. This will be a good time to scoop up some long positions when things have bottomed out.
Aside from the market, it seems my colleague has been on a credit card craze. I influenced everyone onto credit cards. Why? Unlike other countries, paying through nets and cash in Singapore puts you as a disadvantaged. This is because the extras from using credit cards have already been factored in. You don’t get discounts by paying in cash, so why should you? Put it onto the card so that you retain the money and generate interest (even though it is minimal) till the date is due for payment. Secondly, you get reward points and other perks! The colleague realises now he does not need to sign up for a new gym package cause his card gives him complimentary entry to this place in the Marina Mandarin area. He also has a concierge service which will attend to his every need. The idea is, to make the credit card work for you. Do not work for the credit card. This means not spending money you don’t have, and not paying annual fee. Seriously I think Singapore is one of the few places where you can virtually have credit cards for free. Anyway since this is so, why not make full use of it. My goal now is to get enough miles to fly to new york on business class. 
Alrightie. Out of here for the day. Been sick and all urgh. Almost time to begin my new training cycle tomorrow. Hope I will be at least 90% tomorrow…
