Thursday, April 23, 2009

Marching towards 1000

Yippee!  Stocks are moving higher! Who cares when the world is in a severe recession. Everyone is making money. Well, we need the money when we lose our job. Anyhow, take note of May 4, 2009. This is the date that the US bank stress test will be announced. Roubini says that thebanks are already insolvent. So, how will those in power massage the stress test result to make it look good?

AMMB Daily Chart

I am out of AMMB CW because AMMB is trading almost at the upper level of the channel and it is very overbought. I'm still holding my plantations and waiting patiently for them to move. I don't know why are the plantations not moving when CPO is ripping higher. Sigh! I think that CPO run is nearing the end. So, please IOICorp and KLK, move now or missed the chance!

KLCI is at an extremely overbought condition now.  It is not wise to succumb to your feeling and enter now. The train may have left the station but there are other stops for us to board. 

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