Today entire equity market had faced the heavy sell force. It was because of Obama instructed General Motor CEO quit and there is no any bailout for GM. This result finally given Japan and HK each had adjusted more than 4.5%. KLSE did not escape the impact on such bad news. Down 16.09 points and stood at above 869 points.
Is it a so bad? Is it so tragic? Is it a real bad news? Every one in market had received such bad news of GM in the past few months ago. This news almost repeats on every month. Why investors still can’t absorb it?
In my opinion, because this 3 weeks US market had shut up about 20% and others market were follows the step. This is a good excuse for who had realised the profit. In order to buy in again at lower price.
Refer to the past few adjustments on KLSE, some specific counter would start the adjustment in advance and subsequently entire counters in the market were followed. This round had a difference style and did not have any bad signal shown in last Friday.
On the above analytical, I was found I had made a mistake to identified it on this morning. But I am confident market will come back soon because there is a bad factor happen, it could not be last long.
So, let us identified the following factors. Is it enough to have a strong rebound in the coming days.
a) Appointment of NEW PM at 3rd of April
b) Gamuda and Resort stood above 1.95 and 2.05 respectively.
c) Market did not hit down below 869 points
d) By election campaign is on
e) Ringgit Malaysia still at 3.62
f) Oil price at above 50.
Today, I do not have any gain or lose because I am still holding it. But tomorrow is my cruetly day.
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