Friday, January 9, 2009

Dow Jones Still Play An Important Part ?

This morning turnover traded was very low. A consolidation move by the KL Composite Index. The Dow Jones Industrial Average fare better yesterday with the DJIA down only -27.24 points. A check on the charts suggests that DJIA should stay above the 8,500 points level or else ............ the charts will turn ugly. This is quite important in order to make new assessment on how the world financial market will react ?

Malaysian market is holding quite well this morning with some of the speculative counters still show some sign of building up its base before any attempt to push the share higher but with the volume recorded was low, it might take sometimes to move up unless there is a market leader to push up the market.

Nevertheless from today movement the share market still have potential to move further.

Crude Palm Oil futures is holding well today this morning after losing quite a lot after touching the RM 2,000 level. Yesterday the Crude Palm Oil prices closed at Rm 1,865 per tonne. Today the CPO already crosses Rm 1,900 level. Currently up about RM 75 to RM 80 per tonne. Hopefully these prices will maintain above the RM 1,900 level.


Anonymous said...

Hi, Jackie,
What to buy?

Jackie Lee said...

I'm trying to be with my readers as a good friend. It is just that I really don't know how to reconmmend a good counters.

Is not that I'm stingy. Sometimes when I reconmmends to my friends, that particular counters didn't move.

So you have to choose yourself. For me I'm going for KNM and Equine. Outside there still got so many potential counters.

Good luck. Remember short terms play............

alexlee said...

Anything that decline more that 50% in value compared to their high is worth to have a look..
So looks for your favourite stocks that provided above-mentioned criteria... Good Luck