Accidental Trigger

Posted by Kris | Saturday, December 06, 2008 | | 0 comments »

DJIA is still a wild child since the October 700 point crash. Soon after Thanksgiving holiday, it dropped ~600 points easily. The latest wild swings triggered my limit position during the usual intraday reversals. Now ending up opening a new call position although I am quite hesitant to do any in this volatile environment.Not sure how it will turn out to be.Well no pain no gain. Not very confident on this trade.

Kinda dangerous trying to make a trade on a reversal point nowadays.

Nevertheless, on the long term side, I have added some money into my existing mutual fund account. Too bad i missed out on the new Amanah Saham subscription ( long queues of people waiting to invest) with only allows a maximum investment of RM10K per person.The fund is roughly "guaranteed" to have an ~7% annual return by the Malaysian Govt.

On the other end, more bad news are coming out:

1.500,000 jobs were lost
2. Automakers are literally on their bended knees begging the US govt to bail them out.
3. Oil prices dropping even more.