Friday, April 3, 2009

Is It new PM Effect?

Today, i had hear a lot of analyst said our market up due to new PM effect. I do agree that is one of the factor, but totally disagree market rally depends on one factor. Just review the Asia Pacific market HK up 7% and Nikkie up 4% and Sg up almost 6%. Our new PM does not related with them. Why they could registered the up percentage better than us? Another important issue is Did him will sit the position only a day? So, Is it means that tomorrow or after tomorrow market every day will continue rally until his step down/retire?

So, that is an excuse for those investors does not well know the equity market. Are you is one of them?

Let refer back to today market performance. I was totally quit from market although i had registered lose at HUAAN. Because I had found a lot of top volume counter open high closed low, that is bad signal for me. I am believe market soon have a heavy adjustment. Others bad factors are: -

1) Market leader like Maybank, Resort and TMI faced their respective resistance level.
2) Over bought at every single step for MRCB, UEMland, Scomi and Johan etc.
3) US market depend on one factor and did not hit up better than others market.
4) Bad news will deliver soon in Malaysia because of by election.
5) Commodities price price did not move as the respective counter listed in KLSE, especially oil palm company did not hit new high although the oil palm future hit higher.

The above factors if join up together, it will be a big impact to KLSE equity market.

No comments: