Wednesday, November 12, 2008

Good Trading day

Malaysia's equity market today had disappointed a lot of people, but if you had follow me traded in the future index trading, it was given you a little profit margin. As yesterday I was mentioned at here, today I has been help my friend to earn a little money for day trade for doing a "Long" position future of KLSE's index. Bought in at 881 and take profit at 890 points. Small profit but we had succeed avoid the equity market fluctuation and unstable move.

Today is a good day for you, it you dare to buying future after 1st shift closed of spot market. However if you still holding the "long" position on future market, please take profit in the next day morning. Because tomorrow you could face the heavy adjustment. It is due to Gamuda Berhad today move was told you, that is a risk. Why?

Gamuda berhad last minute hit above the resistance of 1.84 and closed at 1.85. If you based on normal circumstances, it shall be provided a good up move. But, the others high volume counters did not follow the step, especially MRCB and Scomi still traded at below the previous high of 89.5cents and 48cents respectively. That is a dangerous signal and indirect warns you, market hard to touch new high level. i.e. above 915 points

From this data, I am classify it and understand it, there is a weak move of coming few days for KLSE's index. So, long position of index does not provide you a comfortable level to enjoy benefit. Furthermore, current global economic situation still weak plus lack of confident of investors. Any bad news would heavily impact the equity market plunge again.

Due to the above, I am suggest here is, tomorrow investors should start build up you short position on future index and take profit from equity share immediately or cut lose to avoid the maximum losses happen in the coming days.

Good Luck!!!!

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