Friday, 7th May 2010
Pakdokter woke up the usual time of 5 am today to watch the Wall Street Closing on CNBC and the 'Fast Money' programme. And what a shock to see Melissa Lee and her panel of traders who looked 'pucat' and not in their usual exuberant and confident faces....Apparently the market had crashed almost 10% and one trillion dollars of market capitalisation was wiped out that morning. The Greece debt crisis initially triggerred the sell-off but subsequently the scramble for the exit by traders and retailers was so severe that their 'programmed trading' took over the servers and the market went into a free-fall. No wonder the 'pucat' look on everybody's faces ...
Pakdokter was quite relieved actually. Pakdokter had been selling out for the most part of last year and had been mostly cash for the whole of this year. Pakdokter just felt that the market had gone up so much last year and has been hesitant to go in again for now unless there is a correction ....
This hopefully is the correction that pakdokter has been waiting for.....
The British Poll also provided another excitement this morning. Up till now, it is still a hung parliament.....And looking at some of the problems they faced in their conduct of the polls, like 'tak cukup ballot papers' and long queues that did not make it in time to vote before 10 pm ( yet average voter turnout was mostly 55% to 60% only ), pakdokter can say our SPR is actually not bad la.....Pakdokter thought the British system 'tu terror sangat...'
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