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Monday, January 14, 2008

The Bull is back


The KLCI had a good run last week led by the plantation stocks and some heavy weight blue chip stocks. CI hit the intra-day high of 1521.56 and closed at 1516.22, a record high closing. Market breadth had 451 gainers and 403 losers, volume grows to 1.69 billion shares. The bull is coming back to our KLSE.
The KLCI is really pointing at a different direction when compare with the major indices in the region; Nikkei 225, HSI and STI are moving in tandem with the DJI in which all the indices are in the consolidation mode hovering near their major support. The bullishness of the KLCI is backed by the strong performance of the plantation stocks and the coming soon election factors. I guess the run will last up till the present government announcing the next election date.
"Buy on rumours, sell on news", this is a good time to trade short term. As the CI is at the peak, profit taking is inevitable, do remember to lock in your profit when you still have it.

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