Millionaire Trend Trader: FBM KLCI

Monday, November 19, 2012

FBM KLCI - signs of oversold

Stocks on Bursa Malaysia closed lower last Friday in cautious trading amid a quiet market as most traders were away on holiday. The local bourse was tracking the weaker regional markets on concerns over the US deficit reduction plan, or fiscal cliff, and Europe’s debt problems which were expected to continue dampen the sentiment in the near term. The FBM KLCI fell 2.4 points to close at 1,629.28, after hovering between 1,634.98 and 1,624.55, while on a Friday-to-Friday basis, the key index fell 11.80 points from previous Friday's 1,641.08. Losers led gainers by 395 to 281, while 343 counters were unchanged. Volume rose to 895.96 million shares worth RM1.75 billion from 888.22 million shares worth RM1.8 billion on Wednesday. Weekly turnover fell to 2.56 billion shares valued at RM4.58 billion for a three days week compared with previous week's 5.375 billion shares valued at RM7.632 billion. ...Read more>>

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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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If you buy all the stocks selling at or below two times earnings, you will lose money on half of them because instead of making profits they will actually lose money, but you will only lose a dollar or so a share at most. Then others will be mediocre performers. But the remaining big winners will go up and produce fabulous results and also ensure a good overall result. - John Templeton

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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

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Monday, November 19, 2012

FBM KLCI - signs of oversold

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