Happy New Year for 2009. Last month lot of people is expecting the year end rally for Christmas and Window Dressing. But the whole market has no volume at all. Guess all the buyer has gone for holiday. They need a holiday to relieve their pressure?
Since first trading day of 2009, Kuala Lumpur stock exchange index and volume started increase. Is this a sign for the market recovery? Most of the market all over the world show spike up about 2%. The spike up is very fast. Some says it is for the welcoming of Obama, some says is the Chinese New Year rally. So what is after Obama officially become the president on 22 January? What will it happen after Chinese New Year on 26 January?
For this high speed rally, I will take opportunity to sell. The company restructure and retrenchment was started not long a go. There is still has some down side for the market. For big investor who wants to buy a huge amount of share, they might need to start accumulate, but not for short term trader to chase at this point.
3 comments:
I listen to news on TV, I dunno why anybody would complain bout Israel attacking Gaza. If not because of Israel attacking Gaza, our KLSE CI would be <850, now our CI is 920! Ever since Israel start attacking Gaza, our market (and other global markets) has been up up and up. Remember when Israel started attacking Gaza, our CI +14points. Then when Israel killed a senior Hamas leader, our CI +18points! Now when Israel started ground attacks on Gaza, our CI +26points! Thanks to Israel our CI is now 920. Isreal attacking Gaza has been the best thing for our markets.
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