Tuesday, October 7, 2008

KL COMPOSITE INDEX. Where The Index Heading To ?

Lately some of my readers especially those who were reading about my share market comments. They express their feeling towards me that I'm not really concentrate in writing an article about our country share market. Some of them are condemning me for writing an article about political story.

His comments ;

i am ur follower.. recently i feel disgust and disagree w u.. i like this blog cos is talking abt business. but for ur ur political milleage you start to talk abt politic which is not ur field.. be real and go back to what u do best.. dont be idiot or try to be smart.

I would like to apologize to some of my readers. Is not that I don't want to write any article about our share market at the moment. Sometimes when you really look at our current share market performance with the current world market condition ..... it is better to ignore it at a side.

I'm not condemning our share market ... just that it is not wise to talk about share market now....... I can't find the bottom and also I can't find when is the right time... It is too dangerous out there.... it is a global financial market EXPLOSION .....

You will get hurt easily... lately eventhough I make some profit but now I'm holding some of the shares at losses. Not much but still can recover. Now the market condition is just like the 1997 Asian Financial Crisis. (perwaja brought 1.45 now 1.20)(kinsteel brought 0.65 now 0.515)

I saw it before during that time (1997 Asian Financial Crisis )..... many analyst had made a called and issued buying signal when the share prices hit their target and went to a price that is really cheap but what happen when time past by. Cut loss, incurs more losses, prices are getting cheaper and cheaper. It just likes no sign of recovery.

U.S financial markets are now in deep shit...... European financial institution were being bailout including the American ...... This is just a beginning and it is still far far away from a real picture...... either go up or go down further ... Don't be surprise if Dow Jones Industrial Average drop till 7,000 to 7,500 points in months to come.

My article posted on Tuesday, September 30, 2008 Malaysiakini : ANOTHER BLACK MONDAY In Financial Market. I did mention the Dow Jones Industrial Average might be heading towards 9,500 points in near terms and today it easily breaks 10,000 points eventhough the congress has approved the USD 700 billion bailout.

With this global financial market meltdown, it is hardly to read the momentum on our Malaysia share market. I don't know when this downtrend will be over but we have to remember that Dow Jones Industrial Average always behave differently during the month of October every year. I won't be surprised if one day the DJIA drop more than 1,000 points......

But we are not going to worry because the market will eventually make a come back ....... We needs to be patient and build up our confidents accordingly in order for us to build up our strenght towards the market......

I have been wondering why the American and the European financial market are melting down and our Asian financial market still standing up like a Giant Elephant.

Until now I still can't find or heard any news about financial problems in China, India, Korea, Japan, Taiwan, Hong Kong, Vietnam, Thailand, Malaysia, Singapore, Indonesia, Australia and New Zealand but in American and European country they are facing the domino effects.

Are we hiding something from the world ? Why the effect only covers the American, European and not in other region ? Why ...... or maybe they just covering it up like China tainted milk cases ? Time will tell......


alexlee said...

KLCI is heading to south. With inticipated support level at 880 - 900. These might be a strong support with RSI is in oversold zone. By mid October 08 or in November 08, maybe a good time to accumulate quality stocks.
What do u thinks ??

Jackie Lee said...

Still loooking at it.... Waiting for the right moment. Strong support seen at 963.29 points.

Will inform if any progress

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