Stock Market Shaking, Oil and Gas Stocks Tumbling.

There is a sense of loss as I look, transfixed  at my rapidly tumbling portfolios. My oil and gas counters have all taken a hit. Apparently the managers of foreign funds have again decided it is not worth putting their money in Asian stocks due to an anticipated poor demand from America and Europe affecting our exports. So they take flight to other so-called safer haven.

 My Pchem ,at an all time high of 7.50 about three months back has collapsed at 5.68 this morning. My Dialog is at an all time low now at 1.97 after a high of 2.70 and I bought them at 2.19 and so is my Kencana bought at 2.93 and now a measly 2.53 and as luck would have it I did not buy Armada whose IPO I failed to get. Thanks goodness!

Remember Armada was listed on 27 July 2011, hardly two months have passed, and open at 3.65 and has gone up to 4.50 and look at today, the price has tumbled down to 3.45! Shall I buy now? Or should I wait for it to fall further nearer to its IPO price of 3.03? Honestly, nobody could tell whether this declining trend will continue or stop. Everyone appears jittery. One day up, the  next day down and now, down and down.

Armada  is falling down,falling down.....

The European Union's dallying on robust debt restructuring solution for Greece's potential default and the American's job problems have all affected worldwide investors' confidence. The IMF (International Monetary Fund) has warned that time is getting short as stock markets around the world are reacting negatively to current economic outlook and recession fear. 

The present market uncertainty is extremely bad for investors. For people like me who have the tendency to buy and hold,despite many pundits' advice against it, we are at the losing end as our shares depreciate greatly in value, reminiscent of the fall in October 2008, precipitating a GFC (global financial crisis).

Things have to move on nevertheless.We have yet to reach the trough.

I am eyeing Armada after selling off my CMMT today at 1.32 and which I bought  at 1.04 last year. I am afraid to wait as I did with Dialog as the recession is looming if the Feds and the European Big Guns are not doing anything to shore up markets' confidence . Like it or not, our market is affected by their actions and manipulations.

I feel sorry for the politically-embattled Angela Merkel, the Chancellor of Germany as her people, the German taxpayers, are getting fed-up of aiding Greece which doesn't seem capable of putting her financial position back on track. And the Feds might have to come up with yet another quantitative easing 3 ( printing new money guys!) to help those banks to lend money for businesses in US. If they do then we will see some market recovery  here in Asia including Malaysia. 

Rather convoluted I must say this globalisation thing!