SPSETIA......

This week I guess KLCI will floating around 860, I made a mistake. Did not consider the new PM factor...

This week I guess most of the stock may drop after 1 week bullish run, I made a mistake. Continue second week of bullish run.

Yesterday night, I found out SPSETIA meet my 3 signals. RSI lower than 20%, MACD at lower point and the price touch Bollinger Band, I should make an entry. But, I made a wrong decision by waiting. And today, 1 day up 30 cents. what a waste. 

Right now, I got nothing can do, and I need do wait the water-fall... most of the stock are in higher price and it is not advisable for me to enter the market right now. 

After new PM sworn in, will the market keeping up or down? any signal to me?

I do not know. Who can provide me some signal?

Next week, tri-election is coming...

Exit Successfully

Yes, success to exit with profit last week. Manage to sell Resorts at 2.23.

Actually I put sell price at 2.17 before market open. Who knows when market open high in Friday, then slowly decline until the end.

This week, from what I saw after market close today, I think we might plan to select some stock to play. This week may see bearish move. 

Maybank drop a lot in a day. May start to plan the best price to enter for it.

After a week bullish, this week KLCI may fall around 860 level.

Stock to watch in my mind : Maybank, Resorts, Zelan, E&O.

Times Up

I think it is times up for me to hold Resorts. As mentioned yesterday, the Bolliner Band starting to get narrow and the price would hit 2.2 and touch the upper side of the band.

From RSI curve, it is almost the peak. I can said I can't get it at lowest price and sell it at highest price. But I think right now is almost a peak in short term. There is continuous 4 days Up up and away. Today the rise is huge. 

I am not so confident to hold it until next week as next week country will start full of by election news.

To me, what I always recall is don't be greedy. I must follow the rules.

RESORTS still keep on UP

This morning KLSE open lower than yesterday, and the whole day floating between 872 - 876 until after 4pm only saw the upwards until closing still manage to let all see some green but just up 0.9 points. 

RESORTS have quite strong resistance not fall below 1.97. Until mid day, it still manage to get unchanged and at the afternoon session, there is quite a lot of volume to push the price higher. The highest is 2.07 and manage to close it at 2.05. From the chart, we see the Bollinger Band is starting to get narrow and close to the candlestick. Is it represent the rise almost face it's resistance? From MACD, the blue line is staring getting wider and further from the red line.

From technical analysis view, it still have some room to grow. But the candlestick already touch the midline of Bollinger Band. So, the rising will not as much. Probably, 2.20 is the limit.

This is the screenshot where I get it at 1.88. This is where the MACD blue line almost cross the red line. And Stochastic is at the lowest point. Right now, it is the time to think on when to exit. 

Maybe the exit will do it in this week. Next week onwards, UMNO election finished, by election comes. This may have some uncertainty in the market as I guess.

DJIA (MON) vs KLSE (TUE)

Figure above shows 1 minute chart of DJIA on Monday. Market close at 7775.86. Up 497.48. This is one of the largest rise in US market in history. It is about 500 points in a night.

As mentioned in previous post, we would expect existing home sales report may caused US market go to down hill....but the report saw an unexpected boost.

For the news about Existing Home Sales, please click here.

Tonight, US market will focus on New Home Sales report. Until the time I post this this article, we see red in US market. 

Our KLSE..... the trend is totally different from the figure at top. 9am, everyone might think today our market may flies..who knows? just after few minutes, the indicator start seeing 45 degree negative slope. 

Lots of stock also open higher than yesterday close price. And this helps a lot of investor who try to sell high and make money. To those investor who buy up the stock, straight away can see the impact after bought it. 

I saw Resorts stock rise up 7 cent in the morning, I am so happy but who knows, it drop to normal stage and end up rise 2 cent. But it is still a good sign which shows increase in price.

If tonight US market is drop, tomorrow will KLSE goes opposite way? If UMNO linked stock still want to make profit, they may push the price higher. Volume for this week is relatively higher than previous week.

KLCI so bullish today

Today KLCI up with a very long white candle which we seldom see this kind of candle in the recession period. MACD also blue line cross red line, Stochastic also shows blue line cross red line. 

This short term rise mainly may due to the UMNO elections which going to held on this week. So, within this week, we might expect KLCI will floating about 880 level.

In UMNO elections week, UMNO linked stock will have more volume. 

The next event that investors care are Najib become our new PM and also by elections. This may cause KLCI volatile.  

To those who have bought in some stock last week, this week maybe is a good time to sell it out to lock your profit. Once by election come, I would think there maybe is another chance to collect again. This is only consider the local event that will happen. It is not include something happen globally or in U.S market.

In U.S market this week, we shall see following key event that may impact DJIA.

Monday - Existing home sales release for Feb

Wednesday - New Home Sales, Durable Goods Orders, Crude Inventories for Feb

Thursday - Initial Claims for the previous week

Friday - Personal income and spending report release for Feb

Existing home sales and new home sales report might impact a lot to US market to a downtrend this week. But would it reflect to our KLSE? 

This we need to depends on local investor whether UMNO election influence is heavier or US stock indicator impact the most.

KRAMAT going to suspend

What kind of graph is this? No Trend, No Volume, nothing can guess..

There is almost month no volume in this stock.

Yesterday, and today, the volume suddenly shoot up. Why?

Last Friday, there is news announced that KRAMAT going to suspend with effect from 9am, Monday, 23 March 2009.

All investors most probably worry to lost all of their money and maybe this causes the share prices drop a lot in just 2 days.

But why there is still have some people buy it? Will they get any money if the stock after suspend?

For more news about the suspension, please click here.

GENTING, RESORTS, ZELAN see bottom !!!

ZELAN (2283) is about 52 weeks low right now...45 degree negative slope.

This company has construction locally, Dubai and others countries.

This stock is dirt cheap...below 50 cents !

RESORTS (4715) is another stock that see bottom...

Starting from March, the stock price drop from 2.20 to about 1.90 right now. There is 45 degree slope in nearest 3 weeks. Today the volume suddenly shoot up to recent peak.

The stock price also at 52 weeks low.

GENTING (3182) another stock that pick to see it reach bottom... 52 weeks low.

In this bearish market it is not hard to find 52 weeks low stock.

In banking sector, Public Bank Berhad is one of the stop that see huge drop.

Meanwhile, bearish market not necessary 100% see red in the sea... There is still some stock moving upwards... such as.. SP Setia, Airport, Latexx.