Tuesday, October 28, 2008

Dow Jones At Its Bottom? Will It Climb After The US Presidential Elections?

Next week according to the latest polls shows that Senator Barack Obama for sure will be the next U.S President. Will the Dow Jones Industrial Average (DJIA) able to climb up when the Senator Barack Obama win the U.S presidential election on Nov 2, 2008 ?

According to charts shown, DJIA might already found its bottom. This is just my projection but I also not sure whether DJIA already found its bottom ?

The recently low of 7,882.51 points created on 10.10.2008 shows that the lows has not yet been broken after 11 days of trading.

If we take a look on the TOP 12 Dow's Biggest Losses, there were 7 biggest losses recorded during the month of September and October alone. With 3 times recorded in the month of September and 4 times recorded in the month of October 2008.

The month of Satan (October) for DJIA is nearly over with 4 more days for DJIA to trade. I have a hunch that the DJIA might rebound anytime from now with the condition that recently new low created must not be broken.

Today the KL Composite Index also suffers its worst in the morning session. The index closes down in the morning session with a loss of -51.16 points to close at 807.95 points. Still able to maintain at above 800 points level.

At this level I would still consider it dangerous but in the morning session I still keep on buying some of shares as their prices are too attractive and I expecting the rebound will happen soon.

Losses at the moment will be consider at the minimum if we dare to buy any of shares today but there will be a condition to follow. Buy to hold but not for contra. As I use to say this is just my opinion and it cannot be consider as an indicator to buy or to sell any shares. I just felt that the market is highly overdone.

3 comments:

alexlee said...

Market looks like going to rebound in coming days or week. It's appears to get close to bottom. Just like KLCI today appears a "hammer" sign, it suggests that a technical rebound is on the making. Generally, it's still no buying signal yet.

Good Luck !!

CP said...

Yes, it is time to nibble into some counters of our fav. I m seeing KLCI to move further down, but many bargain buying going on. Reverse is not that far, but it certainly takes time to build the foundation again.

TEH
p/s: I like the way you write you blog. Cheers.

BH LEE said...

To CP

Thanks, we can keep in touch about the share market movement and the world financial market.

Nice to hear from you.......

Thanks again..............