My reading is that KLCI is going lower (okay - everyone also knows that). Any possible rebound (if any) is a good time to sell. What good news to support and push up the index? 1Q result are so-so. Dow is going down. The uptrend which started in December is over (6 months of rally) - I base this reading from the Weekly RSI trendline. I guess next support is at 930, 910, 880. The punters are all preparing for the World Cup. Bursa Malaysia will be lifeless. Many people will have "panda" eyes.
The most important point now is to protect capital. Will take any advantage of rally to sell. Most probably the rebound won't go pass 960. Last week sell down was very fast. What can I do to avoid this? I can't read the future. What tools can I use?
Anyway, generally the market is down, but there may be a few that goes against the market. This will require a hit-and-run strategy. No pyramiding strategy as the momentum will be fast. One such counter is Bahvest. Looks like moving up. This will be confirmed if 0.30 is taken out. I think Bahvest is in the aquaculture industry. Food counters are rallying due to the 9th Malaysian plan. Could this be the next?
Jotech result were dissappointing. The earning were less than last quarter. However, Sapcres may have more room to go.
1 comment:
when market down, its very dangerous to do hit and run strategy as you dont know what is the lower price. wait until everything is under control. then it would be more safe to you.
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