Yesterday I was not watching the movement for almost all the share prices because I was travelling to Chiang Mai and to Chiang Rai, Thailand. I just updated my info from my remisier. Well yesterday it was a great day with the KL Composite Index climb 26.30 points.
When the market closed, I did make some study on overall our market movements and performance. As I use to say that in order for the market to move we need to have a leader and higher volume done.Yesterday IOI Corporation Berhad has become the leader for the market. UemLand also plays a significant role in bringing up most of the third liners to move up.
With volume reaching almost 850 millions, indeed the sign was there, the stronger sign that the share market is tend to move up. With the whole sentiments came alive, the KL Composite Index has started to move to another new territory.
REMEMBER - I would rather call this is a short term to medium term plays. It is not for long terms. Maybe one or two months plays.
There is still time to catch this bandwagon but all we need to do is we have to be very disciplines. Accumulate only when the share prices retreat. Accumulate on weakness. The trend has just started, so any fragile news will have an impact towards this market.
In share market we use to say that share market is all about taking risks. What really happen to WCT Engineering today, it is sad that they have lost a contract. Still we need to watch WCT this few days if the prices go down even cheaper, it might be a trading opportunity but we must be very careful.
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