Sentiment is everything

Again, US lead the world's stock markets back to the positive side. Walmart and tech show that US economy is "still" ok. The market is now quite bullish in the short term and no major news = market goes up.

I notice Focus Media (FMCN) down a lot after revising down their forecast numbers. It is mainly a non-cash item, so the effect is mainly on investors sentiment more than a actual change in the company's value. China Mobile banning SMS (ads) is definately a bad news but that acount for 4% sales and 0% profit. As the leading outdoor advertiser in China, it deserve to trade better than this, especially in the Olympic year. That said, it lack near term catalysts to rally. My suggestion? Sell puts on weakness to take advantage of high volitility.

Walmart result quite strong, price momentum is also extremely well. I do not know if it worth to chase or not. Please leave comments if you have a view.

Goldman is pushing oil services today, which is not surprising given the oil price nowadays. However 2883 is just a neutral fro them, so we should focus on Singapore and India oil services? I am more cofident on singapore, with their appreciating currency, at least I can gain from that.