hng33, do u play futures? Your style quite similar to mine when I play CPO futures.

short term turmoil. Britain is not an economic power. Nor is she a superpower even though she pretended to be one.

short-term turmoil. Britain is not an economic power. Nor is she a super power even though she pretended to be one.

If Brexit wins - the fear is the sentiment may spread to other members of EU.
Among the considerations are :- Britain's borders are no longer secure n venerable to terrorist attack. - Cheap immigrant labour will press down wages just as it happened in M'sia ... Business keep hiring cheap labour n keep singing the song that locals are not interested in the jobs.

if Brexit wins - USD up - MYR down

The One - I think yr explaination makes a lot of sense.

Hi "The One" - why is it that 'RHB will do its best to curb Maybank from exceeding 8.20 till mid next month..' ??

If Brexit yes wins: GBP to test multi year lows. Safe haven proxies like CHF, JPY, USD & gold will surge. oil prices would come under pressure.

The 50 day & 200 day SMA staged a dead cross on its daily charts suggesting more weakness to come.

twobits: this time I look at the KLCI thru' the Andrews pitchfork structure. The KLCI tried to assail the 200 day SMA but failed n started losing momentum.

connie: my view is KLCI has the potential to drop to 158xxx

FED leave rates unchanged

Fed leave rates unchanged

In the 1997/98 crisis, UMBC collapsed. Some Oriental Bank staff who borrowed money to buy its IPO went bankrupt. In crisis, nothing is safe.

I agree Brexit is good for UK after witnessing what happened to Greece although it will unleash turbulence in the markets.

2 cts divdend is a non-event. Why must it go up on news of a 2 cts div?

Now only Dr M, those after him has also shown incompetency. Why must a nation keep running higher n higher deficit even in good times ?? Having done that, when the crisis comes there is no more room to move. Then they keep on praising GST. Don't forget Greece also has GST.

Yes votes for Briexit leading in polls. The fear is the rest of the countries inside the EU would follow suit should British yes wins.
It is my opinion that Europe should revert to its old days before the "Europe without frontiers" which is now causing so much problems to its member countries. Greece went bankrupt due to capital flight within the Union.

Warrants are the tools of the bull. Now, is it a bull market or a bear market, u judge.

The question is really how we would be affected if those "yes" votes win.

Those for Britain to leave EU leading in polls.

Everything is possible. It is also impossible that MBB's NPL would not rise while those of other bank's NPL rise. The tide affects all players.

Maybank breached its Head n Shoulder pattern in its weekly chart today. The breaking of MTF support level of abt $8.17 should see Maybank below $8.00 to complete is 2nd zig zag to abt $7.7xx

I thought we cannot sell short?

In its recent run to 9xx, EPF is the seller. The ikan bilis are the santa Claus.

PNB got the shares very cheap. It won't fail. It is the ikan bilis that get clobbered.

From its lows in 2009 to its peak in 2013, the KLCI enjoyed almost 5 fat years. Then from its decent in mid 2013 till now, it has not even corrected 38% of its gains. We are actually selling in those small uptrends in a bigger down channel. We have to be careful and not to be greedy.

KLCI recovered due to gains in Petronas counters.

MBB breaches neckline of head n shoulders pattern in its weekly chart at $8.17

They have already killed the golden goose which gives good dividends to those pension funds, investment funds .... n this trickles down to the common man who invested. Now, the golden goose, having been killed, these funds will also give less dividends. Retail sales have already fallen... and more to come. These telcos which acted like a pillar to the KLCI whenever there is a selloff has already crumbled.

connie - I am trying to fit chart patterns to validate wave counts. e.g. Maybank- I got my wave counts wrong. The recent run up since Feb is actually a B wave in a double zig zag downwards. I notice in its weekly chart now - it has staged a head and shoulder pattern which typically occurs in a 5th wave. The neck line being $8.19. Should it break this support, I expect it to reach $7.71. Right now it is still holding provided Yellan does not give some bad news n Briexit turns out to be a non-event.

connie - I find that during the 1st wave, it is hard to have confidence to place my bets. When the 3rd wave begins, price have already moved up a lot. But waves are still useful as it tells me what position the rally is in. Waves are great. But I am trying to find some other methods to complement it.

Hi connie, busy trying to learn something new.

KLCI made 3 attempts to breach the 200 day SMA but failed.

In China, private hospitals have low social recognition and a limited number of outpatients unlike those here and in the western world. Even though the China market is vast, so are its challenges.90% of China's healthcare is provided by state hospitals. To reap the benefits there, it would take a long time and a paradigm shift in the population before it can happen.

The support level is around 8.17

xenos - if u zoom into its weekly charts, is this the classic head n shoulders pattern? What is yr opinion?

There is no reason for it. Everything is supply n demand.

Gamuda is gradually losing momentum. The market is cautious now. What are the chances it will touch $5???

But needs a lot of $$$ to play

When Maybank peaked in 2013, its volume was 62 million. 2 days back during the MSCI sell-off, the volume was 0.216 billion, the highest since 1998, I suppose.
Could the EPF already overweight on Maybank? Would they silently sell whenever Maybank inch up?

But it could affect world markets.

At most, they might be hauled up for breaking internal rules. But back in those days, things were different.

I am sure but they are clever. They do not trade using their own account.

we have 2 big events this months...Fed meeting the middle of this month.... Brexit referendum on the 23rd....
And window dressing at the end of the month.

U are right, xenos. They are playing the game with us to cari makan. D not know if there are EPF staff who got are damned rich just by following the game.
A friend of mine who worked at a stockbroking firm in the 1980s told me that he made a lot of bucks just by following his boss placing orders for the millionaires.

EPF have been buying n selling all this while.

Those who bought at 8.18 are certainly selling for 10 cts gain at each lot. If u bought 5000 shares, gain not bad just for 2 days.

Better sell everything now. A lot of industries will shift overseas. There will be massive unemployment. Nobody will be buying shares.

Any time can sell. EPF, PNB etc buyer of the last resort