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Friday, November 12, 2010

Bursa Malaysia Weekly Summary

KLCI Weekly Chart

Chart shows a potential double top. However, it is still too early to confirm this until 1400 is broken. If you look at the volume, it is above normal. Nevertheless, it is not an euphoric volume (i.e. extremely high). More and more people are all excited about the stock market now. Last week, my uncle who has not played stock for a long time is all excited about the tips he get but did not buy. No matter what, this is a liquidity play. What is your plan after the money has dried up?

For those who have no US trading account, my advice is to open one now. When the market comes crashing, you wanna be prepared to buy inverse ETFs (ETF that short the market). At this moment, I have no balls to take a bear stand.

Sector summary:
Malaysia Monthly Weekly Daily
FBM KLCI Up Up Neutral (-)
Finance Up Up Up
Construction Up Up Up
Plantation Up Up Up
Property Up Up Up

2 comments:

jimmy said...

Hello,

Can you please tell the names of those inverse ETFs listed in US market so that i can ask my broker to get them ready for me.

Thanks


Jimmy

Market Blogger said...

Dear Swifz,

Yes, lots of people are getting bullish and excited about the mkt.I see some newcomers at the stock broker firm I go to this mth.
Is it time to sell everything and stay out? Hopefully not yet.

Eugene Tan