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Sunday, May 11, 2008

Range bound or continue rebound?

Weekly bulls have increased to 159 now:
3A ADVPKG AEON AFG AHEALTH AHP AMFIRST AMTEK AMWAY ANNJOO APEX APP ARREIT ASTINO ASUPREM ATIS BAHVEST BIPORT BPPLAS CCB CEPAT CHANG CHEEWAH CME CUSCAPI DAIBOCI DAYA DELLOYD DIGI DKLS DUTALND-WA DXN ECOFIRS EMICO-WA ENG ENGTEX ESSO F&N FAREAST FPI FRB GCE GPHAROS GPLUS GUINESS HAIO HALIM HAPSENG HARISON HLBANK HTPADU HUATLAI HUMEIND IMASPRO IMPRESS INIX INSBIO IRMGRP JERASIA JETSON JOHAN-LA JTIASA JTINTER KESM KFC KINSTEL KINSTEL-WA KKB KMLOONG KMLOONG-WA KPJ KPOWER KRETAM-LA KZEN LCL LINEAR LIONCOR LIONIND LPF LPI MAEMODE MAGNUM MALPAC MANULFE MASTEEL MAYBULK MBSB METACOR MINTYE MMM-PA MNRB MSC MSNIAGA MTEAM MUDA MUTIARA NALURI NCB NESTLE NTPM ONASTEL OPUS PAHANCO PANAMY PARAGON PBBANK PBBANK-O1 PHARMA PICORP PIE POLY PORTRAD PUC QL RAPID RAPID-WA RPB RUBEREX RUBHD SAPIND SARAWAK SAUJANA SEQUOIA SHELL SINDORA SITATT SPRITZR SRII SSTEEL SSTEEL-LA STAR SUCCESS SUNCRN SWKPLNT SYF-WA TAANN TAKASO-WA TAMCORP TASEK TDEX TECGUAN TEXCHEM THPLANT TIENWAH TIMWELL TM TMCLIFE TSM TWS UPA UTDPLT VADS WARISAN WTHORSE WTK WWTKH YECHIU YOKO YTLPOWR

Weekly bears have decreased to 335.

KLCI Weekly Chart

I thought that KLCI will dive last week, but it didn't. It's still holding on. I don't know whether it will continue to go up or stay range bound. The daily, weekly and monthly technical signals are all contradicting each other.

Oil is at USD125++. Will there be play in the oil & gas and plantation sector? I just notice that I missed out the steel sector play. I must admit that I'm not paying much attention to Bursa Malaysia now. Trading in two markets that are 12 hours apart is not easy stuff. I will have to make a decision soon whether to keep trading in Bursa Malaysia. Trends that I hope will be formed are not forming. Maybe there are not enough TA traders in this market.

Currently I'm holding Digi-CB, Choland-C1, Cnooc-C4, Wilmar-C1, Alam and Sapcres-WA.

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