Millionaire Trend Trader: FBM KLCI - likely to stay range-bound with an upward bias

Monday, April 29, 2013

FBM KLCI - likely to stay range-bound with an upward bias

Stocks on Bursa Malaysia closed broadly higher last Friday with the FBM KLCI closed at a historic high of 1,711.29, up 4.95 points or 0.29%, from Thursday's close of 1,706.34, boosted by buying interest in government-linked companies (GLCs) amid positive regional sentiment. The key index hovered between 1,703.34 and 1,718.08, and hit an intra-day record high of 1,718.08. The previous historic high was 1,710.97 recorded on April 17, with an intra-day record high of 1,716.47 on April 12. On a weekly basis, the benchmark FBM KLCI rose 5.01 points from previous Friday's 1,706.28. Gainers led losers by 360 to 297, with 335 counters unchanged. Volume rose slightly to 746.76 million shares worth RM1.82 billion from Thursday's 734.40 million shares worth RM1.37 billion, while weekly turnover declined to 3.79 billion shares worth RM8.22 billion from previous week's 4.18 billion shares worth RM8.26 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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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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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

When I'm bearish and I sell a stock, each sale must be at a lower level than the previous sale. When I am buying, the reverse is true. I must buy on a rising scale. I don't buy long stocks on a scale down, I buy on a scale up. - Jesse Livermore

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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, April 29, 2013

FBM KLCI - likely to stay range-bound with an upward bias

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