I LOST $700,000 IN 3 MONTHS

Student on winning stock market streak, then he loses dad’s life savings

• OCT LAST YEAR: Just a student in Australia, he makes $80,000 from trading
• DEC LAST YEAR: Back in S’pore after exams, he role-plays trading & makes an imaginary $100,000 on 1st day & $110,000 on 2nd day
• DEC-JAN: Convinces dad to give him life savings of $300,000. But he loses it & the $80,000
• Feb: Girlfriend dumps him. He stops trading for 2 weeks.
• FEB: He puts money on stocks of 9 companies when market reopens after Chinese New Year

Here is an very interesting story in Singapore. Here is the news

To some people in Asia today seems to be a disaster. In this heavy selling day, I found a couple of interesting events.

Here is the first one, I was watching a couple of stocks, and being kicked out by my trading platform. And now I found this annoucement.

Slowness in SGX Live Prices
28 Feb 2007
According to SGX, the live prices provided are currently slow. For trading matters and executions, please contact your Trading Representative.

Second,

It caught my attention when a local broker in Singapore raises Initial Margin of Asian Futures contract today. My one time favourite MSCI Singapore Index, initial margin has been increased more than 40% today to $4,750 per contract for whatever reason.

You need money to make money, in this kinda of market, you need more money to make money.

Luka left an comment asking my take of the recent Hoo ha of Thai Baht policy in Thailand. I tried to read some materials on this topic again. Here is a chart to show the reaction of Asian Bources after the announcement I found on online newspaper.

In Singapore, stock index shedding 2.2 percent, its biggest drop since June. Malaysia’s bourse shaved off 2 percent, it largent loss since May.

The change of tone of Thai Finance Minister:
“After consulting with brokers, investors and all parties concerned, the Bank of Thailand and Finance Ministry will waive that 30-per-cent lock-out required for the foreign investment which invests in the SET.” See how did others comment on this policy.

To answer Luka’s question. I don’t see big implication for the region. Well, period. After Asian economic crisis which happened about decade ago, countries like Malaysia , Thailand, Singapore etc are recovering with better foundation. Better corporate earnings. Yup, maybe there are really some speculations of currency, however, the economy condition now is quite different from 1997. So another melt down? Maybe. But I am not putting my bet on it.

Looking at the reaction of Asian stock indices. Do you think it is something to be amazed? I don’t think so. It was just some normal reflection of news. In fact, i am looking forward more sell down after the recent gain.

Just my unprofessional random rant over this topic.

I trade online, I blog, and I read blog and check email on my PDA when I am in the train! But, I never hide…

From www.woai.com

A new study indicates the US could soon have an illness just as bad as alcoholism – internet addiction.

Researchers at Stanford found that 1 in 8 Americans has at least one sign of “problematic internet use.”

They said what’s even more disturbing that some people hide their internet surfing much like some alcoholics hide their drinking.

Another warning sign is when people use the internet to get out of a bad mood.