Thursday, July 9, 2009

Market bad signal

Why? that is a strong rebound at 4pm, why i am saying that market had bad signal. Refer to early morning transaction, I found some index link counter occupied the volume page. There are registered high volume and almost 50% of total volume in the morning session.

Another reason is oil price going to hit below 60. If anytime the strong support of oil price hit down below 60. The support will go to 42. So, finally the palm oil also follow the trend and hit below 2000 per metric ton. Finally our composite index would bad performance because heavy weight counter represented about 30% by plantation company. That time KNM I am predict its price will goto 50 cents again.

Today evening equity market sudden turn back because of one factor only. Tomorrow, new china company will list on bursa. Investors assuming Government would not fail new foreign IPO. So that others china company may prefer our market as priority status. I am believe so, but it would not last long. Another signal is 4 days down one day up, it shown market no support at every level.

Further more USA drift at lower position, any heavy adjustment will bring very bad influence to KLSE.

I am still looking funder support, but feel sad until now is bad respone. How come rich people do not have any skill of trading but poor people had such skill? funny?????

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