Friday, July 31, 2009

Penny Stocks

KLSE equity market giving the surprise when penny stocks hit good profit on yesterday evening. It was also continue gave more gain on this morning. So, the index together with the penny stocks running wild and it has deliver more confident on buying interest.
After a big adjustment on China at Wednesday. Market seems like going to turn down, but continue rally at development countries was gave investor changed their view on equity market. I do not join in this rally because it will not attractive me. The reasons are: -
a) No self confident on every purchase
b) The cashflow in the international market flood, but it did not give any substantial reason to stay on at one market for long period.
c) Durable goods maintained at high price.
d) Consumers market continues weak and can't absorbed the finished good at previous level.
US DJ after 2 days lose about 30 points and the followings day give a positive about 80points, its indicated player has more confident the economic is coming back.
KLSE market kick off those high volume stocks like UEMland, scomi, huaan and mulpha from first page. Is it a signal? I do not 100% agree but step of move up confirmed is slow. So, speculators must stay out for while and collect more data before jumping in again to play.

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