As for Tuesday, the market opened with joy for the first 10 minutes and CI registered another intra day record high of 1416.97, thereafter the market goes into profit taking mode and CI corrected downward to the low of 1404.48, and remain in a sideway range for most part of the day, finally closed the day at 1412.79 (+1.17, +0.08%), a record high close. Volume reduce slightly to 1.8 billion shares traded, which is healthy.
Technically speaking, KLCI forms a Spinning Top candlestick yesterday, this indicates the market is a bit hesitant to move further at this level, in conjunction with DJIA's fall, the market may take excuse to profit take and further corrects downward to the 1398 level. The retail investors are getting smarter, they will take profit first whenever the market makes new high, as the saying, "A bird in hand is better than ten in the bush", money in your pocket makes you feel better.
Most of the stocks that we follow are doing well, BHIC, Landmark, Pohkong, Kretam, Unico are making new high, cheers! I am sure many of our friends are having sweet dream. However, always be on the guard, never let Greed over-rule, just follow the market signals, don't predict.Some of the new stock to watch are MPHB, INCKEN.
Disclaimer: The above is not a recommendation to buy or sell, all suggestions mentioned are purely for academic study purposes for our trend trader club members only, and the author may have personal interest and position in some of the examples mentioned. Any losses incurred if you were to trade base on the study examples above is sole your own responsibility. Do consult your dealer before taking any action.
No comments:
Post a Comment