Wednesday, September 17, 2008

KL Composite Index has Bottom Out ? Maybe ....

Sorry to all my readers at "Bursa KLSE Blog and News" ( Lately I was quite busy perparing some article about MP Teresa Kok.

Ok, let's take a look on how our KL Composite Index doing today. Today our market open sharply lower at 993.21 points. Down -9.78 points from yesterday closed of 1,002.99 points. At one time the index down -39.70 points at 963.23 before today close down -11.33 points at 991.66 points.

Recently in my article last week on Thursday, September 11, 2008 (Wednesday) title Opportunity. Cheap Sale... I did mention that when the time was right and if I have this instinct and feeling to enter to the market, Iwill keep in touch with you all.

Yesterday, I brought a few lots of Kinstell because this counter looks cheap but during that time I can't say that the market has bottom out. It just that I feel this market need to go down further. I would prefer if the KL Composite Index fell in between 950 points to 980 points. Indeed it touch beyond that range.

Today I never thought that the KL Composite Index have a very big reaction towards the global market and at one time down nearly 40 points. During that time, I started to accumulate some of the share in big ways because something telling me that the market has bottom out (temporary). Hope that I'm right.

Refer to my article on Tuesday, September 9, 2008 (KL Composite Set To Heading South Further ?)

I did mention that "I will still prefer to stay out unless there is a significant move like what we use to call a "Collapse" or "Tumble" or "Panic Selling" or "Tsunami Selling" like it happen once before. My advice to all the player to start monitor these two weeks movement because I had a feeling somehow there will be something to rock our KL Composite Index. It might be a "POLITICAL TSUNAMI" or something else."

It is not Political Tsunami but the melt down of US financial crisis, AIG.

I don't know whether there would be any technical rebound. But I'm looking forward for tomorrow trading. Maybe tomorrow the share market might go up (technical rebounds). I was targeting counter like plantation sectors, steel counters and some recently sharp falls (i.e Kinsteel and Perwaja) Still remember how to catch a falling knife?

Please bear in minds, from what I has seen here, the profits for technical rebound will be little only because the market was not supported by volume. This is just my opinian only and it cannot be consider as an indicator to buy. I'm just a human being.

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