KLCI & Kretam

Everyone knows the market will correct but not when. But one old man repeats what everyone has been saying, the market suddenly realize that it is time to correct.

A look at the KLCI weekly chart shows that it is drifting lower with low volume. Nobody dares to buy, so easy to push it down. Lets see whether 1328 can be supported. If not, look for the index to go to 1200 to 1250.

Even though the general market is bad, some counters can still defy gravity. Ranhill went up the hill too fast too much. I manage to release a little bit. Now waiting for it to settle down. If got the chance, I will reload it. But first must see what are the long term players going to do with this counter.

Today, everyone is playing THGroup. Aiyoh, I shall leave this counter alone. Some counters always not kind to me. Always loose. THGroup is one of them.

AMMB very volatile. Up and down. Looks like AMMB-CA is not working out.

Looking at the CPO chart, looks like it is still going up. Will this mean plantation counters going to be played again? Will they defy the general market? I still have one plantation counter in my portfolio. Same case like L&G, trap until now. Never manage to sell when it goes up. The counter is Kretam-WA. 1 year 6 months to go. A look at Kretam weekly chart shows that the uptrend is still intact. This week, it gave a buy signal but with a gap up after announcing good result. The daily RSI indicates that it should break the short term resistance. If it can do that, I think my Kretam-WA can go up a little bit more. I added some Kretam-WA today as I though that Kretam will close up higher after 2 days of consolidation. Unfortunately, not really to my expectation. Anyhow, let's see whether it works out or not.