Any breakdown from 1358 is deemed as bearish and you will see program selling across blue chips share. If it holds, that's good news.
Tuesday, January 22, 2008
10:41 pm - US Politicians cannot intervene with market forces.
Fed's 75bp rate cut not enough, further easing still needed -- analyst
NEW YORK (Thomson Financial) - The Federal Reserve's emergency 75 basis-point rate cut showed that central bankers are "serious" about preventing further losses in the financial markets but further easing is still needed, said Kathy Lien, chief strategist at DailyFX.com. "With commodity prices falling, the time was right for the Fed to put a down payment on future monetary policy," Lien said. "This is the least they could have done to avert a recession and we still expect another 25 to 50 [basis points] on Jan. 30th because 75 basis-point is just not enough." Earlier Tuesday, The Fed lowered its target for overnight rates to 3.5% from 4.25%, in a surprise inter-meeting move. Interest-rate futures were pricing in a 96% chance of another 50 basis points rate cut to 3% on Jan. 30. Wanfeng Zhou wz/tk1
NEW YORK (Thomson Financial) - The Federal Reserve's emergency 75 basis-point rate cut showed that central bankers are "serious" about preventing further losses in the financial markets but further easing is still needed, said Kathy Lien, chief strategist at DailyFX.com. "With commodity prices falling, the time was right for the Fed to put a down payment on future monetary policy," Lien said. "This is the least they could have done to avert a recession and we still expect another 25 to 50 [basis points] on Jan. 30th because 75 basis-point is just not enough." Earlier Tuesday, The Fed lowered its target for overnight rates to 3.5% from 4.25%, in a surprise inter-meeting move. Interest-rate futures were pricing in a 96% chance of another 50 basis points rate cut to 3% on Jan. 30. Wanfeng Zhou wz/tk1
4:44 pm - KLCI has a support at 1335 now.
There is a triple support here. However, the DJIA, Hang Seng, ShangHai Index triple support all broken and headed down.
Is KLCI experiencing the same thing after Thaipusam ?
3:34 pm - Every counters are in red !
Get out at the next rally if you can ! Do not sell into the panic !
12:44 pm - KLCI is far from turning point now !
The next step will be intervention from the regulatory and Bursa Malaysia.
10:08 am - Nothing is safe !
Even BAT is not safe for a defensive during selldown.
Learn to short the market by participating in the futures market !
9:31 am - The end of the world - end of stock market ! Of course NOT ! PANIC SELLING ONLY !
One of our friends said he will hold all his stocks and unit trusts as he has been through 3 recessions. He has the power to endure the pain or the ignorance to hold on to losses.
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