Thursday, January 8, 2009

Bears Are Taking Over Bulls ?

KL Composite Index down -17.10 points to closed at 910.52 points. Today turnover is not much. Merely about 391 million shares traded. In the evening the share market behaved quite stable even though Hang Seng and the Nikkei 225 continue to slide further.

Strong support seen at KNM Group Berhad at the price of RM 0.485 for the whole evening. Lately there are so many negative news flowing out in the Internet with some of them still mention our global financial crisis is still far away from over. Please read this article appears on Malaysian Finance Blogspot (here) - We are in a bear market rally, which kinda just started...... But please don't be too negative about it.

The sentiment that we are playing along with the market right now are just for a short term only. We are not going for a medium to long terms.

Actually I quite agreed with Mr. Dali statement (Malaysian Finance Blogspot) but I will play along with the market according to the charts reading and indicators couple with the performance of the world financial market.

Tomorrow the share market will open with T+3 for Tuesday turnover of 765.43 million shares. Players who had brought the share on Tuesday will not stand a gain as the buying on Tuesday market just merely can cover their buying charges only.

Today I'm still watching how our share market is going to react in these two days after recently huge gains. Whether it is a correction or it is The End? Will the Dow Jones survive tonight ?

Right at these moments, I still maintain my call on buying on weakness although there are many bloggers out there start to feel that The End of the market. Anyway its your calls whether this market still got potential to go up for another a week or two.

Any of my statement here is just for sharing our points of views and it didn't means or suggests a call to buy and sell. It is written accordingly for my own assessments only. Good Luck.

1 comment:

Anonymous said...

i think we are in a volatile market-classical bear market personal opinion is the same as jackie ie there will be a final spike in this pre CNY rally be4 we enter another lacklustre aimless drift with further and gradual drop in the index