Foreword
Welcome I am here giving my one cent view of the KLSE market regularly. Nothing fancy and try to be as simple as possible. My aim is to share information with other fellow KLSE traders as well as having fun constructing the web page. Hope that you bookmark this website and check it out every now and then for more updates. If you have any comments, pls feel free to e-mails me and it will be much appreciated.
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Kuala Lumpur Composite Index - 1230 hrs June 08, 2000
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My Daily View on KLSE
1230 hrs June 08, 2000
All short term supports were broken. A dowtrend channel is more or less established, see chart - the 2 red color lines. Any rebounds are expected to be temporarily contained in the downtrend channel. To cancell the bearish sentiment, the CI has to break the top red line. Refer to the charts for support point levels.
EOD June 06, 2000
The CI continued to drop following the breaking of main support yesterday. Today's low touched the immediate support of 868. Any failure of 868, would bring the CI to 860-855 level. In order to halt this steady bearish trend, the CI must rebound to at least 880-885 tommorow or for the next few days. Further downside would occur if 855 support level fails and would see 820-800 as being a psychological support. However, chartwise, there is no specific support after 855 not unless convincing rebound is taking place somewhere along the line.
EOD June 05, 2000
Persistent selling of blue chips, particularly Maybank resulted in CI to fall mercilessly. Chartwise, the long term support trend is broken. It is expected that a new pattern to emerge, pehaps the the graph would stepped down to a new trend.
Resistance : 893, 930, Support : 877, 868, 861, 855, 820
EOD June 03, 2000
The KLCI closed almost right at the main long term support level (+- 885), indicating persistence of the bearish sentiment. There is not much change in the outlook since the last few trading days.
EOD June 01, 2000
Today's performance indicated the likelihood that the KLCI would be choppy for the next few days trading, where the trading range is 885-920. The main support at 885+- level may be tested again. To breakaway from the present bearish trend, the KLCI needs to rise above 940.
EOD May 31, 2000
The KLCI managed to halt the bearish trend with the convincing rebound. The main support at 880 level is currently holding up. Rebound in NYSE and regional markets does help as expected in earlier postings. Today is also the MSCI day, (actually tonite western time). If any effect at all, would likely to be seen only after today as FFMs would require certain time to upload and depending on regional market sentiment. It is however logical to expect FFMs to be more aggresive therafter.
EOD May 28, 2000
Main support of 880 was tested last Friday but managed to be saved by the bell at closing of 884. As a result the long term uptrend is still intact. Failure of the main support could see a new pattern that would challenge the long term up trend established since the onset of KLSE recovery after Sept 1998 crash. Worrying factor is the fact that concerted falls of major world bourses, this time not only Asian countries but include the US and Europe. Some rays of hope is that technical rebounds of most markets are yet to be seen.
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Some Trading Wisecracks:
If you have 100 lots of porfolio, then 1 cent price change would result in RM1000.00 porfolio value change. Since one cent price change ain't difficult to happen and RM1000.00 is a lot money, such investment deserves deligent management and some seriousness.
Most common mistake is overdoing the famous advice "don't put your eggs in one basket". As rules of thumb a maximum of 3 to 4 counters are enough for every RM100k to ensure easier management.
General Trading Rules:
Rule # 1: Avoid big Loss
Rule # 2: Don't forget Rule # 1
Rule # 3: Like speed, greed kills
Rule # 4: Sucessful Investment = timing + price + quality
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