Thursday, September 27, 2007
Bull vs Bear (27 Sept 2007)
Bull won! From this action and the KLCI chart, looks like the index is heading to 1400. I'm looking out for the following bluechips:
Genting: If can close above 8.20, then confirm break medium term downtrend channel.
Resorts: looks like going to challenge the upper channel at 4.50.
Plus: Broken medium term downtrend channel. Looking for a reasonable entry point.
PBBank: Looks like going to break 10.00
MISC: Broken medium term downtrend channel. Not sure about the strength.
IOICorp: 1st attempt at above 6.00 failed. Another attempt again?
KLK: Broken medium term downtrend channel. Looking on how is the possible correction going to be.
Gamuda: Challenging 9.00. Waiting for the appropriate time to enter (if any).
In addition to that, I notice that the steel players are moving now: Kinsteel, Masteel and Ornasteel.
This week, I opened new position in IOICorp-CE, Kretam-WA, Masteel and Singtel-C1. Hopefully no bad news to scare us anymore until CNY.