Spectacular rises lead to spectacular falls. Over the last 3 months the
stock market saw some phenomenon activities in a few select stocks.
These stocks were penny stocks in the July/August period and saw a
meteoric rise to above two dollars. And every day there would be a
couple of surprises where out of the blue some penny stocks would double
in values or increase by more than 50% in value.
This morning the stock market scene took a turn. Three stocks went
tumbling down. Asiason was only 95c in August and hit a high $2.90
recently. This morning it crashed to $1.04, losing $1.66 within a couple
of hours. Blumont was 85c in August and rose to $2.54. It fell to 88c,
losing $1.14. LionGold was $1.15 in July and hit a high of $1.76. This
morning it fell 87.5c to 63.5c before it was suspended from trading.
Asiason and Blumont were also suspended.
Some stock markets have a built in limit mechanism to suspend stocks or
the market when the change in prices is more than 15%. Apparently we did
not have such a mechanism to stop the trading of these stocks and the
falls were allowed to continue before they were suspended by a human
decision.
The above changes could see hundreds of millions of dollars or billions
wiped out within a couple of hours. The two casinos could not match the
amount of money changing hands at this pace in the stock exchange.
Fortunes were made and fortunes were lost in a matter of hours.
Welcome to the biggest casino in Sin City.
Those who bought/ chase after these speculative shares should know!
ReplyDeleteNever try...Never try...Never try...
Ha ha ha RB UNCLE,
ReplyDeleteYou are in this line you don't know the game meh?
No frequent fluctuations and volatilities how the middle men including exchanges make their millions and billions?
No periodic supposedly stock market boom and bust how to be in business for more than a century?
No diff going forward lah!
Ha ha!
Isn't there a century old saying "sell during a boom and buy after a bust"?
But when is end of a boom and a bust?
Invest or punt at your own risks in the biggest casino!
Obviously MBS and RWS turnovers pale in gargantuan comparison with stock exchanges. No?
Play the stock market and casinos with money you can afford to lose.
ReplyDeleteThat's why you hear of some billionaires lost 10s or even 100s of millions. To them they can afford to lose these amounts and still remain very rich. But if they make, of course even much richer lah.
Many Sinkies don't know how much they can afford to lose. So they play until commit suicide or some even cheated their employers and got caught.
Right bro, had a childhood bachelor friend retired st age fifty six.
DeleteDuring working life, no punting in stocks except some telecom shares as allocated by GCT.
After retirement with cpf's withdrawal nearly 500k. No buy flat etc. Started to punt on stocks and shares.
Tell him to put minute in banks-said interests too low.
Got no luck/ skills like Peter Lim.now only left about 100 odd k.
Now aged 63 Can only eat two meals a day. Have to look fir security guard or hawkers centre collecting plates.
What is $10K to me is 10 cents to some people.
ReplyDelete$1M salary for ministers? Big deal? Depends on who you are lah, of course. But then 60% is OK with it.
The biggest casino in Singapore?
ReplyDeleteThat would be our General Elections.
Every 5 years, Sinkies vote in the PAP to form the government.
Without question.
Today, we are starting to learn blind trust in PAP is a big gamble.
GE 2016.
Do you feel lucky?
virgo49 1.58pm....
ReplyDeleteI m sorry this happened to yr friend.
Stock market is like that. Mine mum used to tell me "ten times gamble, nine times lose".
Not bad, yr friend still left with $100K plus.
Simple living is the only way in today very uncertain and cruel world.
One must try to be DEBT-free or at least DEBT-low.
It is the Sep/Oct period. There are the spooky months for stock markets.
ReplyDeletewah! you all got so many good advice about not gambling in the stock market.
ReplyDeleteWhy you all never tell that to the woman who is in charge of TummySick Holdings?
Gambling with our money no good.
Better just return our money back to us.
so they wayang continued ... by those "interested parties"
ReplyDeletewho decide when to designate stocks and when to stroke the fire
red bean .... u shorted those stocks, remember to tag those short selling ...... haha
knnccb ... to those manipulators
RB: The above changes could see hundreds of millions of dollars or billions wiped out within a couple of hours.
ReplyDeleteRemember the 2008/ 2009 Minibond saga? How many votes did it cost the ruling party? Let's rejoice there are more over sight to come. For it means at least a few more seats in the bag for check and balance to safeguard SinkieLand's future, hopefully, if it had not sank by then. Sign ...... :( Of course, for those investors burned, it is not our hope for them to suffer such fate. It is someone's oversight and likely to have many in other aspects. It is just symptomatic to manifest in some areas earlier than others. Sooner or later, all affected and infected parts might implode and we are likely to be in hell of a time. Sit tight. Hopefully, there is still hope to salvage the sinking ship by 2016. If all hope's gone, then too bad. Take it as destiny bah! We can't have any early GE before 2016 , can we? Not unless a snap election is called to validate some out-of-touch ivory towers inhabitants' mandate to rule.