Friday, December 11, 2009

Currency drop

Recently, Malaysia note traded at low against USD. With the more funds out from Malaysia by sell force of foreigner. Equity market have to face some adjustment. The new IPO did not help buying interest and further assist cashflow in the market lose faster.

In order to maintained such level, everyone busy at media promote KLCE market. But the more effort bring more negative effects. Last 2 days, at shares firm I did recommended the new IPO. But the price rally stopped at 80cents. My own opinion told me, this share been cornered by a group. So that the new issue shares are limited.
The specific group use the small liquidation shares in the open market and tried hard push this shares gain about 50 to 60 cents per share. Is there any good rally on today. Yet to know. If there is a case, please chase it after it has break the level of 91.5 cents. DSCSOL (0152)
Currency note has been drop 3 days, please careful on strength of USD before put in more funds into equity market

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