An interesting note is the 2nd half of 2008 outlook.
Beginning May 2008, on my popular voting, I have more than half of them were very bearish about the KLCI market. There has been a change in the proportion of ppl turning from bearish to bullish recently i.e. there is less ppl who is bearish.
I believe many ppl believe the KLCI has bottomed but at what level ?? With all these changes in the ppl's believe, I believe KLCI has yet to bottom out at least not until the US Banks bailout plan is over.
The market is very mixed now with many ppl sidelining remaining very bearish. I know if you want to make $$$, you have to be contrarian. Think buying when others are selling. So I am thinking of buying at his moment.
I will be ready when the buy signal is here and I wud signal in this weblog.
Stick closely !
Rgds,
-martin-
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3 comments:
You are absolutely right, bro. Buy when people sell. I have kept away from the market for almost 3 years now, since it started the recent bull run (when I sold all my holdings). Looking at today's market --- The fact is this: While the key indices around the world drops from one new low to another, our KLCI seems to be holding quite steady. We nose dived to around 960 after Wall Street's sell off following the collapse of Lehman Bro and near break for AIG. (That was when I started to pick up some stocks for a handsome bargain)We have since then hovered around the 1000 level - even when the US House rejected the original USD700 billion bailout bill. I hope by Friday, when the House finally approve the 700B bill, we will see a long term upward momentum starting from next week.
look like retailers are getting bullish. but more important question is: are fund managers more bullish.
The Fund managers are the 2nd batch of ppl who is buying into the market. The 1st batch has to be the smart money.
Here are the clues.
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