Up down, up down. You can see the daily chart that KLCI is most probably moving within a rectangular pattern (from around 1325 to 1350). This could be the highest for this year. Don't be influenced by the propaganda that our GDP will grow by 6 or 7 % this year. You must remember, our government is in need of money and they need to hype-up the good news so that you will buy the bonds. I will not touch any bonds of any government. Why? Government around the world is a very inefficient organization. If the private sector requires 10-man hours to complete a job, the government will take 20-man hours or more! If the private sector pays 1 dollar for a pen, the government have no problems paying 2 dollars for the same thing. It is bad enough the government waste by tax money to buy votes. It is also bad enough for the government to raid your pension fund to bailout certain companies. If you are fool, then go ahead and buy the government bond.
Oh, I digress to much. The summary for this week:
|FBM KLCI||Up||Up||Up (+)|