Wednesday, October 24, 2012

KLCI correcting soon

With DOW down 240 points, I am not sure how long KLCI could stand still ... it is kinda tahan-lasak. Last night when we were have e-meeting(normally on Wed), we were watching 'live' that DOW down 228 points then ... and it did not recover. So, we can expect the new high of 1670 will not be so soon ... perhaps, a short correction will be healthy ..before it shoots above 1670 ... to 1690 or beyond?

It is difficult or near impossible to predict movements of stocks in short-period of time. Hence, it is fruitless to predict ... up or down. Just place the trading plan well, be discipline to carry out the trades as plan ... and check if it works out, otherwise ... analyse what went wrong, and re-define the plans, objectives, indicators ... or perhaps change our mindset?

Banking ... PBBank making new high, MayBank hit new high and retracing back to support while CIMB is lagging behind(tho with Thai-CIMB profit news out?). BIMB and Takaful ... interesting to see the dive in Takaful but BIMB staying put above RM3. They used to move in tandam ... but BIMB dumping Takaful ... shoo-shoo ... main jauh-jauh la. Haha

Plantation ... SIME and KLK recovered back to the "acceptable" level after that one-day dived(thanks to CPO down to 2200 levels, recovered to 2500 ... and consolidating at current level) ... but PPB showing strong recovery. I missed her ... I was pointing it out to our group as PPB moving out of the base(BB squezze break-out). Two weeks ago, some of us taken TSH at 2.20 levels and 2.40 is a selling point. Yesterday, finally those taken TDM could have some cheers as it moved yesterday. The lagging one is THPlant. The three 'T-plantation' discussed 2 weeks ago in out meeting. So, we took some time to discuss more on few of the plantation counters, anticipating the recovery of CPO. RSawit saw some activities yesterday too ... but I will want to see Kulim breaking RM5 level. TWS will go for another round, while I sold off my TWSPlant.

Construction and property are another two sectors to consider, but still in very much lagging. UEMLand broken 1.90 soon, Benalec never look back(this one given months ago in my stock-watch and many bought and sold too ... it was around 1.15 level then). I do like property stocks, moving forward for coming months(before GE).

Steel sector has been depressing for some time ... so, we discussed about that last Saturday meeting, while I shown AnnJoo recovery. I did talk about PMetal but no one post the chart or write out the plan, so I guess non of us taken PMetal trade, it shot up. We were checking on other steel-counters such as LionInd, Masteel. I shown them Lafarge and Tasek which showing very strong uptrend. YTLCement taken private some years ago. Well, building materials .. can we place timber-stocks in this category too?

RM1-stocks like Unisem and Mas still in watch list ... many went below RM1 and becoming penny now, such as YTLLand, Muhibah, CIH, RSawit ... and such.

I do have some e-mail ... and will reply them later. Do be patient with me.

10.50 am : KLCI in green ... but I am wearing RED. ouch ... we shorted FKLI as it reaching new high. Really ridiculous ... DOW down, KLCI really boleh ...

So, I managed to sell my TM(6.12) and Astro(2.82) for some profits.

TM at 6.16 now ... KLCI at 1669.91


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