TO THE MOON



Daily Dose: TO THE MOON

For those who had been following the Gamestop, AMC stocks saga, the music has stopped. The stock was ran up by Reddit users, in particular, Wall Street Bets group from $35 to as high as $350. There were expressions such as TO THE MOON. However, if you are going to the Moon, you make sure you have the proper transportation. The higher you go, the further you fall. Without a parachute, this stock looks like it may head back to where it started.


This is herd mentality at its best. While some term it as a David vs Goliath battle, it is but a ponzi scheme in sheep's clothing. The ones that got in early are the ones that profit. The ones that follow the bandwagon only has his/her hands burn.

Herd mentality is apparent everywhere, even in Singapore. The Supermarket Run in 2020 is an example. The crowd at Chinatown for CNY is similar while the apparent slow take-up rate of Covid19 vaccine is another. We are all influence by one another. However, reality will set in eventually, especially for things that are off the charts. 

To the Moon? 

I would rather stay on earth.


1) 19 Covid19 cases

19 imported

3rd day in a row without a community case. Can we keep this up till CNY?

Interesting, short term visitors are still allowed from high-risk countries. The reason for approval - see family members. Given the high frequency of cases, these exceptions should be review.

•             5 (Cases 59897, 59899, 59906, 59909 and 59911) are Singaporeans and 3 (Cases 59891, 59892 and 59907) are Singapore Permanent Residents who returned from Canada, India, Indonesia, the UAE and US.
•             3 (Cases 59893, 59901 and 59902) are Dependant’s Pass holders who arrived from the UAE.
•             2 (Cases 59894 and 59905) are Work Pass holders who arrived from Pakistan and the UAE.
•             3 are Work Permit holders who arrived from Bangladesh and Indonesia, of whom 2 (Cases 59903 and 59904) are foreign domestic workers.
•             3 (Cases 59895, 59896 and 59900) are Short-Term Visit Pass holders. Cases 59895 and 59896 arrived from India and Indonesia respectively to visit their family members who are Singaporeans or Singapore Permanent Residents. Case 59900 arrived from the US for a work project in Singapore.


Source: MOH

https://www.moh.gov.sg/news-highlights/details/no-new-cases-of-locally-transmitted-covid-19-infection-2feb2021-update

2) Bill Limiting police use of TraceTogether data to serious crimes passed

A Bill restricting the use of personal contact tracing data in criminal investigations to only serious crimes, such as murder and terrorism, was passed in Parliament on Tuesday (Feb 2), with assurances of safeguards to protect people's data.

This comes after a public outcry on the use of TraceTogether Data.

Source: ST

https://www.straitstimes.com/singapore/politics/bill-limiting-use-of-tracetogether-for-serious-crimes-passed-with-govt-assurances


3) 350 people asked for the removal of TraceTogether DAta in the past month

If I am the police, I will put a tab on these 350 people, pronto. 

It's like telling the authorities that they have something to hide. BTW, do you know that by turning off Bluetooth, Trace Together App would not capture your data?

Source: Today

https://www.todayonline.com/singapore/350-people-asked-their-tracetogether-data-be-deleted-past-month-says-balakrishnan


4) Shoppers throng Chinatown Complex wet market ahead of Chinese New Year

Hardly surprisingly with many families planning a reunion dinner this weekend.

Source: ST

https://www.straitstimes.com/singapore/consumer/chinatown-complex-wet-market-thronged-by-hundreds-of-shoppers-ahead-of-chinese


4) GameStop, other Reddit Favourred stocks plunge as trading frenzy fizzles

Are you one of those that had anticipated a ride to the moon? 

Hope you have your parachute one...

Source: CNA

https://www.channelnewsasia.com/news/business/gamestop-reddit-favoured-stocks-plunge-trading-frenzy-fizzles-14095440






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