Yesterday the world share market performs very well and indeed it had performed better than we can expect.Whether this is an indicator to accumulate into the Malaysian share market still lies on today KL Composite Index performance. Lately most of our shares prices have perform badly and didn't follow the exact trend according to the world share market trend.
Basically the rally or the uptrend around the world were mostly trigger because of Barack Obama, the U.S. president-elect, said over the weekend he planned the biggest increase in infrastructure since the 1950s with the goal of creating at least 2.5 million jobs, while the White House and congressional Democrats were finalizing a USD 15 billion proposal to bail out automakers.
I really have no idea whether it is the right time now to accumulate for short term play but I would rather let the bandwagon run by it self. I'm not going to catch this bandwagon unless I feel there is a solid indicator tells me to do so.No doubt most of the counter still at low and some even perform a double bottom, it is still early to tell whether the Chinese New Year rally is just around the corner......
KL Composite Index still stuck inside the downtrend channel. That didn't mean that any trend reversal towards upward cannot be perform. It is just that we need to monitor for a few days before any decision can been made towards our Malaysian share market performance.
Until today there are still many big firms in U.S. starting to cut jobs with the latest from Dow Chemical Co. The company slash 5,000 full-time jobs, about 11 percent of its total work force and close 20 plants and sell several businesses to rein in costs amid the economic recession. Dow Jones Industrial Average is moving near to 9,000 points. A positive sign yet it is too early to tell .....
Photo : Maggie Q. Birth Date: 22nd May 1979. Asia Top 10 Mixed Beauty.
2 comments:
the stock market- a barometer of the financial health of a country has done remarkably well and in fact recorded unprecedented gains over the last 2 weeks in USA -all achieved despite record unemployment nos.and massive bailout of banks and automobile industry
are we in for a rough ride next year or are we been 'fooled' by those failed institutions painting a grim picture of doom and gloom in order to get the assistance to cover up their mistakes temporarily
?
A question to be answer :-
Is half of the world fall in recession next year and all the coming bad news factored in recent stocks market price ? If yes, that means KLCI 801 on 28/10/2008 was the market bottom for these round. If no, there is another round of selldown coming soon...
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