DOW closed 18956.69 ... a new high now. We shall be seeing 20 000 level soon enough.
But that doesnt help KLCI to be bullish ... we are still lagging behind. MYR weaken ... KLCI no ummphh ...
FLBhd : One no good report ... terus gap-down 10% ... how la like that? Many still trapped up there above RM2 leh.
Note : I have said ... exit the sector since last DEC. It ran up too fast ... ahead of the fundamentals. If it missed expectation, SELLDOWN is expected.
So ... it is Dec soon ... I will say, get out of STEEL sector as many running up ahead of their fundamentals. To get out during so-called peak is difficult as high continues to go higher and majority are still bullish into it ... last minute newbies wanting to join in the party too ... etc etc ... that was what happened to the 'furniture' sector ... Evergreen, FLBhd and such.
What was the play previously again? USD-MYR with low crude-oil price, right?
Now USD strengthening vs MYR ... and oil still at low level ... why these counters not performing then? BECAUSE it has factored in all the "goodness" expected. Understand ka? That is called theme-play, sector-play ... whatever u called it la.
STEEL ... still running ... with cautious and expecting good results OR at least within expectation ... if not, it will give 'them' reasons to SELL ... and the end of the rally. Time again ... many un-aware of such ... as we are crowded inside the so-called make-belief stories.
Remember IFCA and her stories? No ... ? Then, welcome to speculation where every stories could be cooked up, to make it looks real. Now u hear them ... soon, you will not.
Mycron ... one of the steel-counter which rallying strongly. From penny 20-30cents, we are seeing RM1.20 now ... tell me logic, please. Can ar? High will go higher ... trade breakout.
Got to go jalan-jalan.