Tuesday, August 4, 2009

FBM-KLCI Still Have More Rooms To Move On ?

Yesterday the share market performance was not good at all. Maybe it is because of the new implementation of a new system introduced into the share market. Basically total overall market performance can be consider quite nice although we are seeing some profit taking emerged during the morning session. Most of the world equities market performances still perform quite nice.

Consider the world equities market performances, FBM-KLCI still have the capability to move even higher. How high the FBM-KLCI will go? From my point of view the FBM-KLCI is targeting about 1,190 points to 1,200 points. This is based on the chart that the next target should be there. There is a gap to be fill that was created last June 2008.

Today we can see the FBM-KLCI has move up about 100 over points but not many speculation counters are moving. It is quite hard to trade this few days. It is not an easy market to trade. If we don't have enough patients we might be a loser when the share market has ended its trend. This is to show that in order for us to win this battle, we must be able to pick up whatever shares we purchase if we feel that particular counter can move. Contra is not an option right now.

When this article was posted, the Dow Jones Industrial Average was at new high. DJIA was up about +85 point at 9,257.00 points.

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