Next Week Up or Down ?

How would our share market outlook next week? I'm also quite concern where the index wants to head to.

Political situation in Malaysia is getting more exicting. For Thursday and Friday closing, the market indeed cope very well with heavy delivery of shares.

My comment on 23rd July 2008 suggest that the KL Composite Index is catching up some of the losses (please refer to the charts) and the index is indeed struggling to hold on to this level.

In my suggestion on my previous comment, I did mention the market will probably hold for 2 -3 weeks and then ...........what will happen I also don't know but for me it as a chartist, I always do the calculation according to what the charts close for that day. In near term I would like to say that the market in terms of percentage for it to move south is greater than moving north.

A proper view on some of the counter on Friday closing suggest that some of them still have more room to move up but it will be random but not all. A few counter's only.

Take a look on Sunway Holdings Incorporated Berhad. I have been watching this counter for few days but the ways it moves on Friday closing caught me by surprised.

Let us see whether got anything special on Sunway Holdings Incorporated Berhad next week ? Cement prices already went up so much. This is a big blow to the construction company. Most of them have been struggling to try to stay probiftable since the beginning of prices increase on most of the construction Raw Material. I would call it as " Raw Material Tsunami "

Sunway Issue and Paid-Up Capital : RM 543,490,829.00

Class of Shares : Ordinary Shares of RM 1.00 each.