The index has been climbing too fast too furious. Hence I would lay off from the market if there is a sudden shoot up among the third liners but will trade with more cautious. Indeed we don't know when the market will end its current up trend. But based on the way the market movement there is still some potential.
Tomorrow will be Wednesday. I think it would be better to lay off a while. Maybe there will be some more profit taking activities. Someone just told me that the current trend its moving nearly to it's peak. The KL Composite Index have found it initial high of about 950 -960 points and maybe this will be the starting points that the index will move down or we call it a correction. Based on this scenario I would prefer that there would be a major push in third liners counter to confirm the ending of the current up trend. This morning the market is facing some profit taking activities. Market still looks good and nice. The current trend still intact but it will depends on how they react towards the Dow Jones Industrial Average performance this weeks.
Maybe we might be seeing some rotational play among the counters but as I mention here, trade with more cautious and careful approach. Think twice before making any decision to go in but if we are going for a contra play, then we don't have to think so much. Just buy.
7 comments:
HI Jackie, clearing your Octagon? I will for a 10% profit, as always. Hehe
Yeah, RSI showing many oversold and reaching ll time high, too fast too furious.
To me, be fearful when everyone is greedy. I m sure more comfotable in HKSE at the moment.
Cheers.
TEH
wat's happening with the CI? are we out of the woods already? miss the boat.
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may i know what do u mean by contra play?
thanks!
To Chan Yip
When you a buy a share and you have about 4 days to pick up but you sold it off before you pick up the shares. We call it contra.
Usually in this kind of market it is not advisable to hold the share longer. Either you make profit or else you cut loss. We are entering a level of uncertainties.
To MaxWealth88
Nothing wrong with the CI. It is just that the CI is moving accordingly with the world equity market.
But the index is moving near to the end. When the index will end... no one knows.
Volumn for last three trading day is huge 1.1b , 1.1b & 1.4b..
Means..retailer start to jump in to this market. You know, when uninformed retailer come in to to the market, it signal a retracement is on the way by big player..The market philosophy is simple, someone make money (big player or informed investor) and someone need to lose money (uninformed retailer).
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