Tuesday, September 30, 2008

Malaysiakini : ANOTHER BLACK MONDAY In Financial Market.

Dow Jones Industrial Average down -777.68 points. Another BLACK MONDAY. For me whether this is an opportunity to accumulate some of the shares, we still need to monitor the global market reaction. I would prefer that our share market will react in a panic selling situation and then I will only consider accumulating.


Stocks suffered a massive sell-off in U.S. after the House of Representatives narrowly failed to approve a USD 700 billion rescue plan for the U.S. financial system.

The Dow Jones industrials fell -777.68 points, or 7%, to 10,365.45 points. It was the biggest point loss ever for the blue-chip index and the biggest percentage loss since Sept. 17, 2001, the first day of trading after the Sept. 11, 2001, terror attacks.

A check on the charts suggested that it is hardly for the KL Composite Index to break the recently low level of 963.29 points registered on 18.09.2008 but who know it is just 36 points above the 1,000 points levels. So anything can happen this few days.


My article on Sept 24, 2008 (Where KL Composite Index Next Destination ?) where I posted a chart of KL Composite Index might heading to, suggested that it might occur with a down first and then only it will move up in the near terms. It was based on the movement of the KL Composite Index previously.

How will the DJIA react tonight ? Another round of selling ? I would say that the DJIA is heading towards 9,500 points more or less in the near terms.

This is just my own points of views. I still see some opportunity in our share market but it will depend on the global world market reactions towards Dow Jones Industrial Average this few days. By the way SELAMAT HARI RAYA AIDIL FITRI to all the Malaysian people.

1 comment:

CWI MALAYSIA said...

The recent phase of accelerated globalisation and unfettered neo-liberal policies is drawing to a close and an entirely new period of developments is opening. Massive state intervention in the finance sector has wider implications for trade, international currency flows and industrial policy. There will be even deeper tensions between the major capitalist powers. Prolonged stagnation, punctuated by weak recoveries and renewed recession, will provoke social crisis and mighty political struggles. The economic crisis of capitalism is also an ideological and political crisis, and this unavoidably places Marxism back on the political agenda.
Read more at :http://asocialistmalaysia.blogspot.com/2008/09/world-economy-great-implosioncapitalist.html