Tuesday, November 23, 2010

DOW down by 25 points.

Taken from THE STAR

KUALA LUMPUR: SHARE prices on Bursa Malaysia are expected to trade higher this week following positive indicators that Asian equities have stabilised as fears of China hiking interest rates fizzle out.

The European debt crisis was also effectively being contained by European policy makers, said an analyst, adding that it would, however, be a while before confidence and funds shift back.

Head of Retail Research at Affin Investment Bank Dr Nazri Khan, in an e-mail to Bernama, said the FBM KLCI was expected to consolidate within 1,500 and 1,520 points level this week given the improved sentiment in the local and regional markets.

He said most fund managers were encouraged by the latest economic data but remained sidelined awaiting evidence that the United States quantitative easing measures has had its desired impact.

Dr Nazri also said four main catalysts likely to propel the local market, in the near-term, were the rising foreign liquidity inflow, the year-end cosmetic dressing, rumours of possible mergers between MRCB-IJML, UEMLand-Sunrise and Maybank-OSK as well as Petronas Chemicals Group's initial public offer.

Turning to the chart, we see the FBMKLCI improving its technical position with the next immediate target pegged at the 1,520 points, he said.

For the week just-ended, the market moved within a tight range but closed higher last Friday on improved sentiment supported by Wall Street's rally and strong buying of blue chips.

The market was closed last Wednesday for the Hari Raya Aidiladha celebration.

On a Friday-to-Friday basis, the FBM KLCI closed 6.24 points higher at 1,506.05 compared with 1,499.81 previously.

The Finance Index declined 60.13 points to 13,756.48, the Plantation Index slipped 13.02 points to 7,758.74 but the Industrial Index gained 15.94 points to 2,875.52.

Weekly turnover declined to 4.56 billion shares, worth RM6.166bil, from 8.204 billion shares, valued at RM11.334bil, transacted previous week.

TEH : Do you think KLCI will be moving higher this week? It lost 2.5 points yesterday.

YTLPower : This is heaviest portfolio now as my queues lower done as it dived yesterday. The day YTLPower shoots up again will be my relief day. Hmm ... RSI now stands at 57, RM2.48 is a good support. If I m not mistaken, dividends will be given, Dec 3? So, I wont mind holding to mommy for dividends.

YTLPower-wb : At 1.40, support too. Premium a low 4% with expiry at 2018. So, decide to hold and collect more.

YTLPower-cb : Closed at 0.245, down 10%. So, my queues done from 0.27 till 0.245. Oh boy. Premium is low at 5.6% for a new CW, expiry at Nov 2011. This is for short-term trading. Recently I luckily sold it off at 0.30. Phew. Collecting at 0.25 level now, waiting for 0.30 again?

HWGB : I was checking on her report-card ... not bad, there is a positive turn-around, is that explaining why many buying into it? Due to punting mentality? Or liking her fundamental? Or like to play with syndicate? Or purely look into TA giving signals to buy high, sell higher? Or like her 'genting' name attached? Or ... hmm ... at how many angles should I look at her and still remain 'stupid' not to be attracted to her? i dont know why I m so discipline not to buy into these counters BUT buying into call-warrants? Riskier, right?

9.15 am : Grabbed KFC-wb for short-trade using HA.

MSports : Average at 0.490, sold at 0.535 moments ago.

MEGB : Grabbed below 2.20. Stage one. This is a waterfall I mentioned.

10.55 am : I m surprised that my SPSetia which I bought some yesterday also done 1.37. Just a short-fling for a dinner today. Thanks.

YTLPower : Very bad trade, as I moved in yesterday, now I m stuck to be looong term trader!

12.10 pm " LionInd diving down, I m queueing at 1.90, not done yet. There is a meeting for Lion's group and Parkson today, if I m not mistaken. I have bought LionInd at 2.00, so I will collect at 1.90, 1.80 and such. That is because I m still positive on steel-counters, and liking LionInd since 2 years ago! Do not love your stocks? Haha.

AnnJoo is trading below 2.90 now. Need to see if it could go to 2.80 or below.

Alam : Moving back to support at 1.11 soon. Wait.

Clearing : I m clearing MEGB and KFC-wb which I bought into today. There are too many for me to handle. Need to cut small loss on some to be able to top-up on others.

Bullish : Two weeks ago, when I attended Marc Faber's talk, and when SN Lock said next year will be super-bull, many clapping their hands. YEAH YEAH ... and I think many started to buy into market last Monday!! being kiasu, we need to be ahead of others! YEAH YEAH .. super-bull or bull-shit? haha ... he shown a bull without a shit in his slide. Haha. Funny, guy.

Now, KLCI going below 1,500 ... what do you think? Still bullish? Or your short time frame market outlook changed? Hmm ... isnt it interesting to deal with our emotions : Fear and Greed?

AirAsia : At 2.55 now, buying seen ... it was at 2.25, breaking support and it was just recently? Check out my post on AirAsia as waterfall ... beautiful with 5 technical pointers. It is flying again ... buying at 2.25, selling today giving us more than 10% now. But why buying seen today? Why today? I mean ... isnt it we read many books to buy our stocks when it is at a DISCOUNT? Why buying after it moves 12% up? Isnt that too late?

AirAsia RSI still at 50+, it is still ok. But, definitely the upside(reward) is limited with higher risk when it moves higher.

Now, can we apply such a concept of buying in our stocks? Waiting for OUR day?

SELL : Why do I need to sell my holdings? Some are only for short-trades. I sold Kencana-cc yesterday, taking profits. Today it moves lower. I need to chanel the funds to my 'ailing' YTLPower to buy more of wb at 1.30(I bought 1.40 level yesterday). When we bought a stock, BE PREPARE for it to move LOWER. Think RISK. So, I queue to sell my overbought SPSetia-wb for small profits. Again, to prepare more bullets on my 'ailing' Annjoo-wb. So, my portfolios will slowly be more focus on some stocks I want to hold for longer period of time.

Some are meant for short trade. Be it. Some are for hold-forever(LOL), then be happy to stuck with her.

MSports : I cleared it at 0.535, quite glad. It was planned last night when I see 0.535 as resistance. So, done. Now, I m going to grab it back at 0.50(if I hv funds). I do need to SELL MSports for profits as my babe, LionInd is bleeding today. Save me ...

Do read a book on HOW TO SELL, ok? Buy buy buy ... then bye bye bye.

KLSE on sales

4.45 pm : KLCI donw 13 points. I m caught with many stocks going lower now. CUT?

Malton : Grabbed her today.

LionInd : Top up just now.

9.50 pm : Oh boy ... did you read the above article by The Star? This week bullish? Of coz we do not foresee Koreans going into war? We have Ireland news now Korean news. Cant they enjoy Asian Games first? Sigh ...


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