My trading
Ringgit at 3.85 and Oil at 42, some pressure for export counters
Hiu Chee Keong
Publish date: Wed, 13 Apr 2016, 07:49 AM
Good, today morning, ringgit at 3.85 against usd, and oil above 42 usd. this will put some pressure on export counters. Seems like investors are quite optimistic on the oil freeze in Apirl17 meeting.
It's about time for me to unload most of my shares, and waiting for another oppurtunity. If oil freeze success, then ringgit has oppurtunity to rise to 3.6 - 3.5 in middle term, then only i will consider export counters, or prepare to exchang ringgit to usd. if oil freeze failed, then ringgit and bskl will fall agin, then i will re-entry back.
Also, Brexit is at around June, and usd interest rate also will arise again after june, so i guess plebty of chance to enter back at bargain later. and, even if oil freeze success, i think they won't keep it, some will break the freeze after a month or two. i have started selling my shares recent weeks, and since i bought all of it at low price last few months, so make quite some profit. Just wait for another oppurtunity again later.
Happy Trading :D
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Discussions
1 person likes this. Showing 22 of 22 comments
yes, I also think so. I think foreign funds that enter when ringgit above 4, will dump their shares if ringgit rise to 3.7-3.6, they will have make some 10%-20% profit in shares price and fx gain.
2016-04-13 08:23
Hiu Chee Keong said: "usd interest rate also will arise again after june"
conclusion: then you must be a god?
2016-04-13 08:27
Freezing supply at record high output does not address the supply demand imbalance, it only enhances sentiment. This is especially true when Iran and US are not participating in the talks. What they really need is to cut supply, not freeze supply.
2016-04-13 08:28
Tom, it just my opinion only la. just read cnn or cnbc reports, fed probably won,t raise interest rate before june, but after june, question will pop up again, and base on their report, the possible of 2 hikes still intact. When some one make a comment on future event, of course it is their opinion or forecast, do we have to say 'in my opinion' in every sentence ? :D
2016-04-13 08:36
to sell the export counters is too late now, my friend. wait for the next cycle when ringgit weaken
2016-04-13 12:03
After raising the interest,the dowjones moves up so the increase in interest in USA is helping the people to receive some income in putting money in banks which in return help them to increase the purchasing power.This affordable increase ushers well for its economy and its comsumption.
As for Japan,the nil interest is bad for her economy as the purchasing power is very low and its persistent will deplete the money value of their pensioners,low and middle class group.
2016-04-13 12:05
i guess ringgit is at its strength and time to sell ringgit and buy USD, buy and accumualte export counters.
2016-04-13 12:17
If, Najib and his fund has flown back into Malaysia, it's likely Najib will love to see appreciation of Rm.That depend on how good the 1MDB house cleaning carried out. Tit Tat Tit Tak....we'll c
2016-04-13 12:24
BNM governor? Should be taken by our beloved PM also. Anyway he is the PM and Finance Minister. He should take over all positions from top to bottom.
2016-04-13 12:28
If, Bn successor from the ruler side, sure lost his independent.Guess , what will happen to Malaysia ?
2016-04-13 12:31
for those are still holding export stocks, prepare for big losses soon!!!!
2016-04-13 12:37
Jolin Lai Chi Pet, not yet, if April 17 failed, then ringgit and oil will fall like submarine. I hope it will success so ringgit can go up, and I can book my oversea travel again :D
but if it fail, then cheap sale again, bargain time.
2016-04-13 12:55
april 17 meeting will success freeze oil productions. I can guarantee!!!
2016-04-13 12:58
Stupid move dun you see export counters already very near the bottom further more ringgit will definitely can't pass 3.70 ..
2016-04-13 13:54
Jplin lai chi pet: the outcome need to be beyond expectation in order for oil price to rise further. Now if outcome in accordance with plan, oil price may fall back to 40 usd as the market already factor in the good outcome and investors buy on rumour sell on news.
2016-04-13 15:40
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RM at 4+ best time for foreign funds to come in
RM at 3+ best time for foreign funds to go out... made from up in share price.. plus FX
2016-04-13 08:19