Thursday, November 22, 2012

KLCI oversold

Tho DOW up 200 points, KLCI was down ... and DOW up another 40+ points, how low could KLCI go? It  is a matter of time for KLCI to rebound? What are our takes?

So far TM disappoints ... and amongst the telco, Axiata showing some promising rebound.

KLCI : We are at 1620 levels, with RSI below 30, considered as oversold. Checking 1600 level next, if it is going to retrace further. The RSI for telco's are much lower.

Parkson : I am still watching Parkson as it dived way too fast ... and an interesting waterfall to catch.

10am : KLCI in red further, with JCY dropped to 70cents ... well, perhaps Thai-flood story did not come out yet ... so, we shall wait for them to upgrade JCY again, with targets above RM1 or RM2? I don't know ... when it downs, they will downgrade her ... coming out with stories again to justify why JCY should be a SELL ... and target 50cents or 30cents? Why?

There are some still hold to JCY at IPO price, ok? How about Astro ... the most non-performing IPO, dropping below 2.70, IPO at RM3? Many are cursing their luck ... and some started to blame it on AK's greed. It is so un-fair ... simply because we have Astro at home? If a normal public never heard of JCY, that is ok ... but we all know Astro, it is a household name in Malaysia. So, it is obvious that many trapped with Astro ... some stucked with JCY.

RM1 stocks : I want to write about some of the RM1 stocks, which no longer at RM1 level. It is becoming penny stocks .... such as Unisem, WTK .... recently broken RM1. LionInd and MAS are trading at near RM1 level. We dont see YTLLand or RSawit at RM1 anymore ...

Got to go and contine my blah blah later ...


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