Friday huge surge on the index caught me by surprised but it was a good sign for the local market. Basically I don't have the instinct to buy any of the shares at the moment. "Patience" was my key word. I will wait when the time has arrive.
At the moment I will keep on updating the KL Composite Index data and some of our regional share market data. With the KL Composite Index Friday surprised move, we might have a short terms move because there are so many counters still in a consolidation mood.
However a closer look towards the world financial news and the performance of the Dow Jones Industrial Average (DJIA) would still be our top priority. At the moment the DJIA is still below the 8,000 points and today the Wall Street's market is closing for a holiday. Lately there were some rumours surrounding the KNM Group Berhad. Many analyst, bloggers and financial bloggers are mentioning that there would be some bad announcement come out by the end of this month. Whether these reports will bring any significant impacts on KNM Group Berhad, we will know it later by next week when they reports their financial results.
Based on the charts wise, KNM is moving sideway and if any of the announcement about their financial reports come out with a flying cards then this counter will fly up to the sky. Please refer to Malaysian-Finance Blogspot, one of the best financial bloggers that I have ever known - SELLING KNM FOR NOW (click to read)
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