Monday, April 19

The more things change, the more things stay the same

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Has the sudden change of market taken anyone by surprise. Last Wednesday, the STI broke the elusive 3000 level by closing at a level of 3019.74, fueled by the news of an excellent quarterly GDP growth by Singapore. When I logged into Facebook on the following day, I saw a few comments that goes like this.

"NOL huat arh !"

"XX% profit on Cosco, more to come !"

"Time to do analysis on Genting !"

A rising market that makes the most noise draws in speculators easily. Fast forward to the present, STI closed badly at a level of 2960.93. Now I wonder if those speculators and punters are sitting uncomfortably on a loss now. This episode is a stark reminder that the stock market is not an ATM machine. But as human nature goes by, greed is inherent in us and many will still continue to speculate and punt.

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