Wednesday, January 7, 2009

KNM Group Berhad Breaks The RM 0.50 Level. Well Done.

Well this morning the market movement show more promising sign to advance further. The volume is building up. Although the index added up again with 10.26 points to close at 932.49 points, any correction that will emerge to correct the current 55 points gains from the start of New Year until now will be treat as a correction to cool down a little. The bulls are still in control of the market.

If there is any correction to emerge, the market will likely to stay at this level (above 900 points) and some rotational play will likely to emerge.

KNM, MRCB and E&O are moving well today and one of them will likely be a market leader. Just watch particularly the third liners. There are maybe some follow through buying.

Today was my first day I took some profit for the year 2009. Well it was KNM (almost to 20 percent profit). Sold it off at RM 0.505 , still left some for higher target. From the chart point of view this counter still have potential to move up to RM 0.60 level.

My expectation for the KL Composite Index is to reach 960 to 980 points and then I will make a calculation based on the chart whether there is still more rooms to move forward. To calculate where the high is, it is not an easy job. It will base on many factors to make this kind of call. Well I'm just only a human being, just like you all out there. Trying to enhance my skills and make some investment with a good return. So anything can go wrong if my calculation is wrong.


CP said...

Hi Jackie, don't tease me la. I lost a lot in 2008, only days ago break-even, finally. Haha.

Ok, now market up, everyone wins but need to be cautious. I m loading off many before CNY.

I follow your Hevea. Hehe. Other than that, KNM is still strong. Will clear some too, hold another half.

Good Luck.

And, thanks again for supportive. :-)


Jackie Lee said...

To CP..... I didn't have any intention to tease anyone especially you. It is just that you are very active lately in your writing.

It seems like you do lots buying and selling. I'm also a human being, can make a mistake.... last year, this year we will try to gain back.

Sorry if my word offended you... actually I feel nice when we can exchange some information.

cpteh said...

morning Jackie,

No no ... i m not offended. In fact, I m gllad to hear from you.

Cheers for the coming CNY. I m pulling out of KLSE, hopefully. Hehe