@twobits: Thanks for sharing. Volume is actually higher than the average day and within the upper range of daily historical volume so far. We will see if this breakout is real on Friday / Monday.
That's true. I think profit taking is expected. Question is whether quality support can sustain the bull. Maybe this is a special note to contra players to be extra cautious.
Well Tenaga started yesterday with punters looking at possible tariff hike but I am more interested for any hidden gems in earnings reports for e.g. 100% increase in profit y-o-y etc. Satu kali, finance minister kata tak perlu tariff hike untuk kepentingan rakyat, jatuh menjunam.
@twobits: Actually the sentiments in the US and as confirmed by some recent indications (between the lines) by some Fed state governors is that it is unlikely that they will taper this year. This is of course due to the fiscal issues the US government is facing, impact of gov shutdown on economy and unemployment in Oct. It looks likely that they will only rethink this after the US government has some concrete agreement in Jan 2013. We will see.
Regarding the chart pattern, it is just a pattern. As long as index stays above 1809, we are talking business. Today looks promising. I can't comment on foreign funds. MYR is strengthening, US equity market outperforms emerging markets and maybe they are just waiting on the sidelines for some clear signals on the Budget.
note U.S budget/debt issues r not over but postpone to next year Jan-Feb. in that sense, probability of tapering will be low. in view of midterm election, no one wants to be blamed for screwing up economy stability. overall U.S economy shows slow and steady recovery, so is EU.
agreed with u they r probably juz like us, cash out waiting at the sideline for clear signal on the budget; which said by wahid to address fitch rating.
qiii is slightly on bull, iafx & 2bits r slightly on bear (correction actually, NOT crash or anything like that) at this point of time.
noise is good, if no noise market cannot move, everyone calculated with same formula gets the same value; looking at each other doing nothing? :D :D :D
All & all, it is a healthy discussion. Good to be cautious although I am leaning on the index touching higher before correction kicks in and resume upward trend towards year end.
it needs to clear n close abv the recent 1826 hi for momentum n vol to return..otherwise..will remain tentative n sidelined..as dow/s&p r trdg at the highs..
post budget, if everything is aligned positively, n dow/S&P making new highs, then we will hv the real SHS blast off..i am hanging on my longs for that..good luck to all...cheers
@twobits: First of all, I just had a glance at UEMS so pls take with a pinch of salt. UEMS is in the property sector. Frankly I am not bullish on this sector until policy decisions on stamp duty, RPGT, PR1MA are clearer. On the earnings front, they seem to be doing pretty. I recalled reading earlier about potential penalty for delay in KLIA2 construction and some suit by Bank Kerjasama Rakyat on a Bangunan Angkasaraya deal sold by Deepak to Sunrise earlier. On the plus side, EPF seems to be accumulating shares so that's probably the boost it needs.
KLCI was volatile today - taking a rest before the next move. It almost looked like a big contrarian play on the index today. Well the budget is quite positive apart from sentiments around GST.
We will see how the abolishment of sugar subsidy impact the consumer products sector. Reduction of personal tax and half month bonus of civil servants should boost the economy by a tiny bit. The policy on RPGT & DIBS should impact the developers for a couple of weeks before earning reports kick in. GST play will be the focus. HSBB2 may benefit some counters.
Posted by Ooi Teik Bee > Oct 25, 2013 09:15 PM | Report Abuse X
A loyal and good member will not run down the party. Only a traitor will do it. Thank you.
Ans : I just cannot understand why anbz called me a racist because of my aforesaid posting. To me, any political frog jumps party or any one who was not elected in an election, run down his party IRRESPECTIVE OF RACE, he is a traitor to the party. A good and loyal party member will not run down his party if he failed to be elected in any party election. I did not mention any race, I only quoted that person. Am I a racist ? Please judge yourself. I want to avoid get caught in this dispute. Thank you. Ooi
Bro Qiii,that's a good one. We should stop fighting among ourselves. Life goes on,look forward and remember,when going gets tough, the tough gets going.
KLCI has seen a good correction from 1800-1660 in july..( I have bought strongly into this selloff)..This corretion has shaken out the stale longs and set the stage for a much stronger and powerful rally to break the band of triple tops at 1805-1826. Global sentiment in the EU n US n china is now more positive..the KLCI will be very supported abv 1800..get ready for the Dec rally...
Agree with twobits. Actually the market is already prepared for DIBS with Bank Negara's announcement a few months back. IMHO, PM is just adding more punch to it in case of compliance issues. As quoted by many developers commenting on the Budget, most foreigners are buying properties above RM 1mil anyway.
@twobits: If you look at the Weekly CI chart, you will notice that closing prices are well supported at the 1790 level. Candle-wise, last 4 weeks have seen bearishness with a surprising bull spike on 19 Nov due to local institutions according to the media. If the bear continues, we will see support at 1784, 1775 and 1760 levels. Otherwise if year end bullish sentiment returns, we will witness a retest of 1801, 1809 followed by 1822. IMHO, taper talk is hurting the index & local institutions are not shooting.
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
Report Abuse
Please Sign In to report this post as abuse.
Market Buzz
No result.
Featured Posts
MQ Trader
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: O&G healthcare service provider, Metro Healthcare Berhad aims to list on the Ace Market!
MQ Trader 409 views | 3 d ago
0:17
New IPO: Life Water Berhad, a manufacturer of drinking water and carbonated beverages, aims to list on the Main Market!
MQ Trader 1258 views | 3 d ago
0:17
New IPO: Mega Fortris Berhad, a manufacturer of security seals, aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Zenwan
189 posts
Posted by Zenwan > 2013-10-23 22:47 | Report Abuse
Btw you don't do it for them right?....you say because u believe....that is enough caveat ....