I am writing this blog today in a very nice hotel room overseeing the ocean, enjoying my holidays. It has been years since I take a nice break away from work and without turning on my trading machine for the whole night. I do have internet access in my hotel but I have decided that I will not trade and spend my night with my lovely wife. However the addiction of writing this blog and the urge to know how the markets performed last night makes me turn on my mini-notebook now when she is taking her shower.
A brief headline splash across my screen from a website I subscribed to headlined that Mr Krugman believing that there will be a double dip recession in 2010. It's an interesting read, and I will analyze his statements when I am back fully at work. Somehow my feel is that it will not happen because Asia is beginning to be significant and it will drive the world economy further. I live in Asia and we are all witnessing the potentials of China and India to spur future growth.
As expected, the markets were volatile because of the thin volume. DJIA was down 1.67 points last night even though consumer confidence did not disappoint. Of the stocks KUTE selected, only PTI and DOX advanced last night. PTI gained 2.19% to close at $20.54 and DOX closed at $28.98, up 0.69%. NOV was down 0.91% to close at $44.83, NE down 0.7% at $41.20 and PDE down 1.17% at $32.86.
My positions are in the money and no new trades were done. There will not be any because I am just going to spend the next few days enjoying myself with more food and wine with my wife.
Have a great day!
Francies Cheng
BBus MAppliedFinance
No comments:
Post a Comment