KLCI Weekly Chart
The last 10 minutes of trade is damn crazy. Tenaga and Sime was pushed up while IOICorp, KLK, Commerze and Gamuda was pushed down. What are the fund managers trying to do?
Looking at KLCI weekly chart, maybe it has 20-30 points more to go. Maybe not. It has gone up like a rocket without any serious correction. The sound of the bears are getting weaker and weaker. This is a dangerous sign. When everyone is in agreement, you can be sure that the turning point is just around the corner.
As this is the last trading day of the month, based on the monthly charts, I formally declare that we are in a bull market! This is no bear market rally that I expect (or most of the bears expect). Low interest rates and massive money pumping have shown its effect. I'm sure those that have missed the train is hoping for a correction for them to get in. For me, I just hope that the correction is not too severe. I must admit I don't have a heart of steel like Mr Buffett that has no problem in seeing the price drop and drop. For those that wants to invest in commodity, look at my options blog to get an idea on what to invest.
|Finance||Up (+)||Up||Neutral (-)|
|Plantation||Up (+)||Up||Neutral (-)|
|Mesdaq||Up (+)||Up||Up (+)|
|2nd Board||Up (+)||Up||Up (+)|