Millionaire Trend Trader: FBM KLCI - plunged on panic selling

Friday, September 7, 2012

FBM KLCI - plunged on panic selling

Stocks on Bursa Malaysia closed sharply lower yesterday on panic selling after Standard and Poor’s said it may cut Malaysia’s sovereign credit rating if the government did not deliver promised reforms to cut spending to reduce its fiscal deficits. Malaysia’s ranking slippage in the latest World Economic Forum’s Competitiveness Index 2012-2013 also gave investors the excuse to close bets and take profits ahead of the potential budget and local election. The FBM KLCI lost 23.02 points or 1.40% to close at 1,617.99 after opening 7.42 point lower at 1,633.59, and hovered between 1,613.16 and 1,635.95 throughout the day. Losers beat gainers by 739 to 157, while 241 counters were unchanged. Total turnover declined to 1.30 billion shares worth RM1.99 billion from Wednesday's 1.35 billion shares worth RM1.7 billion. Read more

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What's happening now is that the market remains trading at very thin volumes and that can affect prices, even when just a handful of shares are traded. The decision of any fund to pull out from certain stock hits the price. - Carlos Slim

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Learning is a never ending journey in the stock market. The very moment you think you have learned enough, you'll fall. - Harrison Ho

When people are frightened, they cut their time horizon dramatically, even advisors will say to sell because they see portfolios crumble and they fear people will have nothing left. It's really not rational, but it does happen. - David Dreman

I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy. You won't get there by reading 'Now is the time to buy.' - Peter Lynch

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Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point. - George Soros

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Analysts have always been overly optimistic.
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If you believe that some day it's going to happen, some day it probably will happen. You just have to make sure you're there when it's happening, and ideally you're at the front of the parade, and the principle beneficiary of when it happens, but it's not a kind of thing where you just sort of sit back and wait. - Steve Case

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The price pattern reminds you that every movement of importance is but a repetition of similar price movements, that just as soon as you can familiarize yourself with the actions of the past, you will be able to anticipate and act correctly and profitably upon forthcoming movements. - Jesse Livermore

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Before this century is over, the Dow Jones Industrial Average will probably be over one million versus around 10,000 now. So for the long-term, the outlook is tremendously bullish if you buy stocks blindly to keep for a century. - John Templeton

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The financial markets generally are unpredictable. So that one has to have different scenarios.. The idea that you can actually predict what's going to happen contradicts my way of looking at the market. - George Soros

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Stock market bubbles don't grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception. - George Soros

Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble... to give way to hope, fear and greed. - Benjamin Graham

The price pattern reminds you that every movement of importance is but a repetition of similar price movements, that just as soon as you can familiarize yourself with the actions of the past, you will be able to anticipate and act correctly and profitably upon forthcoming movements. - Jesse Livermore

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The key to making money in stocks is not to get scared out of them. - Peter Lynch

I never hesitate to tell a man that I am bullish or bearish. But I do not tell people to buy or sell any particular stock. In a bear market all stocks go down and in a bull market they go up. - Jesse Livermore

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Friday, September 7, 2012

FBM KLCI - plunged on panic selling

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