Wednesday, March 16, 2011

DOW lost 137 points but KLCI back into green!! I wont move in this time as I was 'trapped' a few times with short rebound. In fact, I m thinking to trim more. Suddenly feeling bearish in a bull market? Hmmm ...

3.05 pm :Wednesday is my busy day!! KLCI in green today.

Naim : At 3.06, support level. Noted.

4.55 pm : BULLish again ...KLCI up 8.3 points. Yesterday down, today up ... tmr?

Time to run again.

More downside for local market?

Written by

Wednesday, 16 March 2011 08:43

KUALA LUMPUR: Hwang DBS Vickers Research said there could be a bit more downside to go on the Malaysian bourse on Wednesday, March 16 amid the global equities sell-off in reaction to the Japanese nuclear radiation scare.

It said following Tuesday’s rout – led by Japan (-10.6%), Taiwan (-3.3%) and Hong Kong (-2.9%) – major U.S. stock bellwethers finished lower (by between 1.1% and 1.2%) last night after plunging as much as 2.5%-3.1% in early trading.

HDBSVR said still, a sense of relief may be in store driven by the latest news that Japan has made progress in stabilising its damaged nuclear reactors.

Separately, the U.S. Federal Open Market Committee last night left its federal funds rate unchanged while reiterating its intention to continue with the quantitative easing program after saying that the U.S. economic recovery is on a firmer footing and the prevailing inflationary effects from rising prices in energy and other commodities are likely to be transitory.

HDBSVR said back home, following the announcement of Berjaya Sports Toto’s latest quarterly financial results yesterday evening (which were broadly within expectations), investors would be watching out for Top Glove’s earnings announcement due for release during lunch hour.

Note : Wrong prediction ... BULL running today. BJToto profits OK but TopGlove's profit down by 63%. Wow.


1 comment:

Anonymous said...

Maybe we all should consider shorting the KLCI futures for hedging/buying insurance against the downside in the time like this.( If we still like buying stocks). Thats what i've been doing for the past 2 weeks. I'm a medium term trader and shorting the KLCI futures has saved me a lot, at times i'm making money on my shorts.