Bear Stern (NYSE:BSC) spoiled the market today. There was some confusion about Citic Securities recent agreement. As far as I know, according to Bloomberg, there was a small stock swap deal and potential JV. But lately they are under a talk to revise the deal. So nothing like the China Invest Co. Blackstone IPO fiasco.

Liquidity in my little portfolio
Interestingly, I found when market is in panic selling, big name stocks such as China Mobile (CHL), Research in Motion (RIMM) usually got down, and small name stock such as GSI Technology (GSIT) did not go down too much, sometimes it even went up. How come small stock got the power to fight against the market? Well, the answer lies in liquidity. When the big guys got panic, and decided to sell, they will usually sell the Microsoft, the Google, the Pizer,…because those stocks are traded millions of shares a day, and they could find buyer easily, without too much discount. This is not the case for GSIT, which trades about 50,000 shares a day. It takes a few buyer for my 500 shares.

Soft Commodity
I heard this word from Tao Dong’ article on Capital Week (March 15, see below). It is the first time I heard this word, but I know what it means: the food, or the farm produce and meat. We are in the soft commodity boom, whether you admit it or not. I know the price of chicken, egg, milk,…all went up when I do the grocery shopping. So today I bought this Syngenta (SYT) because it is an agri play. More than 2 years ago I did some homework on this, and lately Barron’s did a positive article on it too.

(Full size pic can be seen here)