Friday, August 10, 2007


Thank God its Friday. The markets closed on a positive note - roughly up 10% from the horrendous crash this morning.

Salutes for all the brave buggers who bought in the morning. They would have made a good killing from all the stampeding lambs.

It was as if someone had shouted - FIRE - in a overcrowded disco.

Some of the notables include Midas which crapped to $1.32 before charging back up to $1.41. Yangzijiang which fell to a $1.72 before recovering from that deathly dive to $1.89. FerroChina crumbled to $1.92 in early morning before staging a late but effective recovery to $2.08.

No joy for me yet. I bought the buggers several points higher.

But you know what - I'm just glad that they are all recovering. I was lying in bed having nightmares of selling the whole portfolio at a 30% loss. But this gives me some hope that - the worse is over. Fingers crossed.

The aim is still the same - sell into the recovery- make 10% - walk away.

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