Thursday, August 27, 2009

4.45 am :Dow moving sideway ...HSI was hanging there too. KLCI almost unchanged, but many second liners are moving lower each day. Even the rubber-stocks are lowering at the moment. It is time to sit on the side and be patient again ... everyone is adopting 'wait and see' stance. Are we going to see a dive soon? Or will it be sideway for these months before the next surge, cracking 1200 level? There is no clear sign at the moment. I dont know if I m collecting or throwing, either.

While I have cleared most of my holdings, I grabbed Petra yesterday. I thought I wont get it at 2.50 anyway. So, I just simply place a queue after lunch(it was at 2.63, if I m not mistaken). Its support at 2.40 level ... and breaching this level, we shall see a deep pullback, and a freefall? Buying during pullback, that is one of the policies, right?

Most of us are not looong term investors. It is difficult with these uncertain economic environments ... but I will like to see a deep pullback in KLCI or HSI before next entry ... some are saying that we might not see any dive(wont go below 1100?), if we buy now and could hold on much longer, we shall see good angpows by next CNY. I m not that optimistic, yet I still will ride on it ... perhaps we wont see the Mac-low(as local funds will support KLCI) but markets have been shooting to its new high, too fast too furious. Time to be cautious, right?

9.30 am : KLCI down by 2.5 points. Petra at 2.57 vs 2.58.

6.35 pm : Just back from Aquaria ... KLCI up 4 points and HSI down by 213 points. Sinopec unchanged but CNOOC down by 3%.

MMC on the move today ... I did not grab any as I was still monitoring and waiting for 2.20 level but it doesnt. Today MMC going back to 2.40 level ... and I will let the boat to float away.

ZhongDa at 0.60 level. CWP at 0.80 level. These to be collected when HSI dives sharply.


1 comment:

Mike said...

I think the markets are close to topping out for the year. Bullish sentiment is right at its highs and talks of the end of the recession are gaining more and more traction. But going forward I think it is still going to be difficult to make much trading from the short side given all the govt intervention and short squeezes witnessed this year. Instead, I think investing in gold related assets is a safer bet because of the massive amount of money printing by central banks. There will be painful long term consequences of such actions, as fiat currencies are debased. This will most likely lead to a higher gold price as the inflationary forces take hold. For a further discussion on these issues see this gold price site.