Monday, February 7, 2011

FBM-KLCI Might Be Consolidating ?????

Basically and technically the technical rebound has happened. Not only it happens last week but it seems that it might be continuing for this week with the world equities market showing more promising sign. I'm able to make some handsome gains during this technical rebound. Not much but good enough for my Chinese New Year Ang Pow.

The FBM-KLCI managed to crawl back to their safest zone. I was hoping that this level will maintain as their strong support. In the month of February how our share market will fare?

Basically after Chinese New Year the share market might not performing that well. It will be a mix market. This was based on previous historical data. We still have lots of opportunity if we really concentrate on certain counters. I hope I was wrong in giving this statement. No matter what is going to happen next, we have to trade it carefully.

Choosing a right counter will determine our margin of profit. With Petronas still have lots of news to announce, any counter related to oil and gas company will have more opportunity to rise further. Based on the chart wise, the FBM-KLCI just make a recovery from recently sharp falls and it might need some times to digest this coming week. How far will it go? We will never know as the FBM KLCI still trying to heel from the recently wound. Maybe a consolidation move .....

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