Friday, April 3, 2009

Confirm Market. But It's Never Too Late To Accumulate. Wait For Correction.

With this kind of movement yesterday in KL Composite Index, I would prefer to say that ....... the share at this moment already found its bottom. But I still prefer Dow Jones Industrial Average to stay above 8,000 points to confirm the bottom.

If we check these few days market momentum, it should confirm that the trend have take a turn. At this moment we need to let the share market take a correction first before making any decision to accumulate.

If the share market was confirmed and take a turn heading north, we still have more ample time to accumulate. We might miss the first bandwagon but I don't think that we will miss the second one.

Frankly I didn't expect the share market to perform tremendously. With this kind of new development, any correction emerge will be consider as an opportunity to accumulate. Previously before this financial crisis strike, every year usually in the month of March or April will be a good month to play but only for a short terms plays only before we heading to the month of June and July. Basically in these two months the share market usually behaves quietly.

The most important element that we need to remind that we have to open our eyes a little bit bigger in order to search for the right counters. Blue Chips are moving with most of the second and third liners following through. Third liners movement yesterday can be consider so-so. We need to pay a bit attention on them form now on.


chanyip said...

hi jackie, may i know what do you mean by confirm market and correction?
sorry for asking some simple ques :D

Jackie Lee said...

Good question....

Sorry, I didn't elobrate it much further. What I means here is the share market is confirm to move up.

Maybe for a month or two but I can't forseen it to go up very high. It is just that it might move up a bit but frankly in medium term I'm still quite negatif towards the market.

This just one of my suggestion only and it will depend more on the world financial news.

Any correction sets in will be an opportunity to accumulate for the share prices to move up further.

chanyip said...

what about correction?
i see from your analysis, the support and resistance line is moving upwards. so, does correction means the price when it touches the support line?

Jackie Lee said...

I will explain in detail what are my outlook based on the charts.

Wait for my new posting....

Thank you....

chanyip said...

thanks a lot!