As been predicted, the corrections should set in this week after the share market have move up nearly two to three weeks. The KL Composite Index might be moving down in accordance with the performance of the Dow Jones Industrial Average. I still prefer the DJIA to stay above 8,000 points.
But during this correction it is likely there would be a rotational play among the speculative counters. We might be seeing some roller coaster ride. If this trend or the wave that claim as a Major Wave B, then this would be a right time to accumulate but how far it will go down? Here we really can't tell where the bottom would be but it is likely the KL Composite Index might be breaking the 900 points and heading to 880 points. Basically I don't like to predict whether there would be any major correction because it is still early to tell.
We can see in yesterday market momentum. Yesterday morning we know that the share market was going for a correction and all the sudden in the evening, the share market take a turn with some of the speculative counters reaching new high (MRCB, Genting).
We have to be well prepare for this market as recent run up suggested that the share market still have more room to move on as there are still many counters lagging around waiting for the right moment to surge.
3 comments:
normally, how long correction will last?
The duration of correction will depends on how the world financial performance (equity market).
No one will know when the correction will last ....... or maybe the share market might not rebound at all.
No one knows, including me. We have to monitor the market movement everyday and then only we will know when will be the next uptrend begin.
ok. interesting :)
thanks a lot. great to have blogs like this
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