Jackpot Time?

Almost every session now in KLSE, you see stock with the surge of 30-50% within the first hour of trading. This I call "Jackpot".

Malaysia has very strong syndicates working behind the stock exchange. They usually introduce this "Jackpot" phenomenon to lure buyers.

Bursa sometimes gives them a UMA (Unusual Market Activity) suspending the stock for a short period of time, but it is no longer working. It used to work fine during its introduction to the system years back.

Stock market usually turns into a casino when it is closed to Chinese New Year.

During this time, long term investors will need to resist the temptation or give in to the temptation of fast money. A lots of people are winning the jackpots these days and I hope they can keep the money for the new year.

US: A rally that is due to a long weekend after people offloading stocks last Friday. A common psychology of an investor: I don't want to keep my stock over the long weekend especially during earnings season and the stock prices are almost over the roof! Citigroup posted a terrible loss and the share is up 3.5%! It is a bit hard to understand for many. Actually it is due to the offload of TARP that finally factors into earnings. TARP is like a timing bomb on a bus waiting to be set off. The bus driver has no control over what the timing bomb is for real or it is just a sensor. Citigroup is now back to a normal company without the handicap sign on the windscreen.

My Holding: Still as before. Tabung Haji bought 2 millions of Xinquan shares. I am also waiting for BSDREIT to announce dividend.