Monday, January 12, 2009

Hang Seng and Singapore Straits Times Moving Down ?

Wah Lahhhh. Third liners have started their engine with some of them have started to move higher in the evening market. The Malaysia share markets especially the property sector have ignored the world stock market movement. Even though Hang Seng Index registers a sharp drop of -406.44 points, still the third liners in Malaysia share market is performing just like a hero.

Equine Capital Berhad under the property sector is moving higher and close higher from yesterday closing. The counter went up RM +0.065 to settle at RM 0.425 per share. Consider well done for a counter that is below RM 0.40. Mainly today market performance is on the property sector.

With today KL Composite Index closing up +4.50 points at 923.57 points, the index still well above its comfortable level. To be frank we still in the safe zone but if we want to check the performance of world financial market today, the performance towards closing is still negative. Hang Seng Index today touches its critical level. That is not a good sign. Singapore Straits Times also touches the critical points today with the Nikkei 225 already touches its critical points on last Friday (Parabolic SAR).

With this kind of sign, I have no choice but to sell off about 85 percent of my shares. I'm selling it not because I believe that the Malaysian markets movement are over but it is because I'm now sitting at about 11K profit with some 15 percent shares still unsold. We still have to be cautious with world financial market performance because we don't know how the world financial market will react in this few days.

I'm still very positive on Malaysia share market but only for this week only. Basically one week before Chinese New Year approach, the share market will behave quietly and move into a consolidation move. This is from my past experience in monitoring the movements on the Malaysian share market.

Tonight Dow Jones Industrial Average performance will determine my next course of investment (short term). It will be an interesting story if the DJIA is going down (touching the critical points). I didn't expect a selldown but rather a consolidation move to side ways.

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