Judging from today movement, it seems that FBM-KLCI has ended its uptrend wave. We are still in the battlefield but if we can hold on and wait, we will have a chance to win this big war (technical rebound). Basically looking at the sentiment right now, I would like to say that the Malaysian share market has turn bearish. This just one of my opinion and we cannot assume that this opinion is correct.It seems that there so many indicators showing that the blue chip counters and most of the second and third liner counters are not creating new high but instead they are moving lower and lower. World equities market are not performing well. They are breaking their recently low and this is really not a good sign.
Whether the world equities market are moving into a profit taking or a correction, it is not worth it to put our money inside as the percentage of winning is very low. I'm really looking forward for a pure technical rebound. Whether it will happen or not, we will have to wait and see.
My last advice, it seems that the BEARS have taken over the BULLS. So this is not a good time to invest or to play along with the current sentiment which is so bearish.
4 comments:
I have short FKLI based on your outlook. Thanks
This is just my opinion only. Basically the outlook is bad.
Good luck ... Hope that you can make lots of money.....
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