Thursday, November 5, 2009

Same Old Days .....Up And Down .... Not Moving Anywhere.

Monday, Tuesday, Wednesday and Thursday. It has been four days and our Malaysian share market still maintains its position quite well. We have some rotational play among some of the shares. But one needs to be very good in order to strike a jackpot. If we really look closely at the share market movement, we have some opportunity but not every counter is moving.

Now we need to ask among ourselves a very big QUESTION, whether we still have some opportunity in this share market? Looking at their movement couple with the volume done, our share market still needs more energy or some extra ordinary news to push them up. But it seems that our share market is lack of vitamin and they are not really moving at all. They are just moving side ways. Sometimes they went up and on the next day they will move down.

I really like to think positively on our share market but with the current share market condition right now, sometimes we can turn into a bit negative, it is just that we as a chartists sometimes need to follow some of the rules that has been set in. Right now I'm still watching how the Dow Jones Industrial Average is going to perform these few days because they are the one who is going to determine whether there are still some hopes for our world equities markets.

But if we take a closer look on the charts ........ they still didn't show any positive sign but rather a bit negative. In order to make sure that the DJIA trend still intact, they must not breach the 9,430 points level. If the level of 9,430 points has been taken out, then the whole uptrend will just be over.

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