DOW up 140 points. Yippie .... time to buy again? Gold still at 1820. I need to learn how to buy Gold's ETF traded in ASX so that it is denominated in AUD. That is what I am going to ask when I am attending another talk by Bill this Sunday.AT the moment, USD rallying ... vs MYR is 3.07 now, if u noticed. So, money moved to USD and also crude oil, which touched USD90 at a point.
WCT : Strong support at 2.20 and at this level now. RSI at 17.
With recession and gloomy economics outlook, crude oil could go much lower from here and affecting many O&G companies' earnings. If it go back to USD50 or below, we are back to 2008-2009 again. I remember that Middle-east projects could be affected and those companies with high exposure in Middle-east might be in high risk now. That reminds me of LCL. Checking on those companies iwith high involvements in Middle-east, WCT could be one of them.
10.35 am : KLCI up 2 points, HSI up 100+ points.
CIMB : Goiong below RM7 now. Alert.
No buyings at all ... after a few losses in my trades. Need to hide and wake me up when September ends ... today it is up, tmr it is down.
2.05 pm : Done with 4 hours of classes and 1 hour of meeting. Time for short lunch and classes again.
HSI coming down again after lunch ... and whether if recover or going lower might depends on Euro-markets and DOW future later. These markets are direction-less, actually. It is a clash of fear-greed. Some think there is still a rally, tho short, that we could profit on(due to cheaper valuation) while some are more cautious and prefer to be one sideline.
I have tried to be greedy but short-trades do not work now. It is up-down-up ... and down again? Hence, I will sit-tight on cash while going for short day/contra trades. Nothing else to check.
Coastal-wa : Continuing its nose-diving ... tho Coastal still staying above RM2.
HapSeng-wa : Going lower too ... checking her at 0.30 level, then.
3.20 pm : KLCI dropping another 7 points. SIME, TENAGA and BANKS are the culprits. HSI is negative 100+ now, ok?
8.30 pm : KLCI down 6.68 points but HSI reversed and closed 136 points.
Gold : Testing 1800 level, going lower ... and time to THINK to buy.