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Tuesday, February 27, 2007

Bloodbath!

Wah lau eh, in 5 years of investing in KLSE, this is the first time I see a 50 points decline in one day. At the close, KLSE still closes down 35 points. FYI, this is not a record, a check through the last bull shows that the record is around 70 points. After all those bullish comments, you suddenly find that part of your wealth atomized.

Of course I'm not spared also. I manage to reduce my holdings in L&G last week, sold out Titan yesterday, got out of Oilcorp today. Unfortunately, I added a little bit on Astro-CB and Masteel. For the rest, the price are just a few cents above my stop loss. Strangely, I do not feel any stress. No panic in me yet.

Well, if my intepretation is correct, the penny shares have just completed Wave 1 of EW, so look out for the end of Wave 2 (62 to 50% retracement) because the Wave 3 reward will be tremendous. Look out for the support at 1200. If cannot hold, then bye bye liao. So what will be the next "reason" to push up the price?

3 comments:

Your friend said...

Today's fall was even worse. the greatest drop of all time!

Anonymous said...

Dont worry Pak Lah has promised us CI will hit 1350. If not, I 100% vote opposition in next General Election. So Pak Lah, get your PNB, EPF, Khazanah, whatever, push up the CI to 1350 or you lose my vote!

Anonymous said...

As Digi says "Time To Change" government!