Saturday, September 6, 2008

Any Perfect Storm for KL Composite Index?

Hang Seng Index breaks new lows and below 20,000 points. The Index close down -456.62 points to close at 19,933.27 points. Singapore Straits Times Index down again -51.84 to close at 2,574.21 points. Counters in Bursa Malaysia started their move to go even lower.

Waiting for the Perfect Storm to happen any time from now. If there is one, I might consider to accumulate any counters which perform tremendously (sharp drop) or else will still stay at side line and watch when the Perfect Storm will occur.

Looking at todays market movement, KL Composite Index cannot stand any longer at this level. It might breaks it low at 1,064.11 points (27.08.2008). Today it closes down -14.54 points to close at 1,070.54 points.

Next week will be very important week to look at the whole market including the global market movements. Any drastic news in politics movement will cause the KL Composite Index to react negatively.

1 comment:

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