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Wednesday, March 14, 2007

2nd Wave of Selling

What an education for the investors. First we learn about carry trade. Now, we got this thing called sub-prime lenders.

The KLCI chart is pretty messy now. All indicators saying different things. It means nobody knows for certain what will happen next.

My observations:
1. The KLCI rebounded up to 61% retracement
2. Volume continues to fall
3. Weekly MACD goes negative

My intepretations:
1. Good chance of gap covering soon
2. Long term uptrend still intact but possibly we can go to 1070-1100 again
3. Most sellers has gotten out, hanging now are the long term investors

No long term buy signal yet. But some stocks just puzzles me, such as Mems. What's up?

2 comments:

michael2005 said...

buy dufu sweet and juicy will shoot up to 120.

Anonymous said...

swifz did you follow sifu michael buy dufu?