These two days our market reaction towards the performance of Dow Jones Industrial Average and a falling Crude Oil prices is a bit dissapointed. Overall peformance from yesterday move and today suggest that the focus will be solely or entirely on the by-election at Permatang Pauh.
Election date has been set on 26th August 2008. That is more than two weeks from now. It has been expected that the case will be the same as Raja Petra Kamaruddin.
Appear in the court, pledge not guilty, asking for a trial and out from the court after paying the bail money. This time Datuk Seri Anwar Ibrahim being released on a personal bond of RM 20,000 without a need for a guarantor.
My advice at this moment is to stay out from this market for a while until there is a very good indicator.
Although the KL Composite Index fall from recently high of 1,164.64 (31.07.08) points until now, a check on overall shares prices suggest it still trade within the range except for the plantation counter (new lows).
From my experiance, usually any counter before they can really move up they always went down first in order to hunt for some bargain hunters and make these counter looks more attractive and then they will slowly move up like what has happen in last month trade.
Just take a look on our market where this market wants to head to because I also don't know where this market wants to head to ? For me, most likely moving to the south in near term.
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