Sunday, November 30, 2008

Where is Santa?

KLSE is not reacting to US stock movement. I'm still expecting a rebound. December is the month where stocks usually move up. In addition to that, the fund manager must do some window dressing to cover their miserable performance. But.......most of sector charts are still pointing down:
Malaysia Longterm Midterm Shorterm
KLCI Down Down Down
Finance Down Down Down
Construction Down Down Down
Plantation Down Down Neutral (+)
Property Down Down Down
Mesdaq Down Down Down
2nd Board Down Down Down

The rest of the world looks like stabilizing:
World Longterm Midterm Shorterm
S&P500 Down Down Neutral (+)
DJI Down Down Neutral (+)
NasdaqComp Down Down Neutral (+)
Nikkei 225 Down Down Neutral (+)
Kospi Down Down Neutral (+)
SSECI Down Down Neutral
HSI Down Down Neutral (+)
TWII Down Down Neutral (+)
STI Down Down Neutral (+)
SENSEX Down Down Down
FTSE Down Down Neutral (+)
DAX Down Down Neutral (+)

But please note that US stock market has gone up with decreasing volume. So when everyone is back after Thanksgiving, do expect the real action to continue.

Also, the talk of the town is that China is in panic mode. Their GDP may contract more. Now, if we can lend money to the Americans to continue their spending binge, maybe we can save the world from going into a severe recession.

If you are interested in US and world economy, then please do read the blog Calculated Risk.

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