However, FKLI is only down -1.5 pts. US Dollars is strengthening and DJIA futures is down -80 pts pointing to more downside for FKLI tomorrow.
I do not know where the market is actually heading.
Monday, June 2, 2008
5:11 pm - KLCI has no follow thru on the upside and selldown !
However, FKLI is only down -1.5 pts. US Dollars is strengthening and DJIA futures is down -80 pts pointing to more downside for FKLI tomorrow.
I do not know where the market is actually heading.
9:38 am - Weekly Newsletter by Bill Wermine.
Dear Traders,
Expect more sideways movement in the week ahead as the majority of the investing public is still uncertain, fearful and influenced by all the bad news. Political bikkering is constantly highlighted by the media and has even reached the foreign news. One bright spot was the cabinet decision to force toll operator Grand Saga to remove the barrior to a housing estate road in Cheras which had caused hardship to the residents. This shows that the politicians are beginning to listen to the public who have a genuine concern
Smart money uses bad news, uncertainty and a gloomy environment to accumulate.
An example is below:
Monthly chart of Maybank:
Expect more sideways movement in the week ahead as the majority of the investing public is still uncertain, fearful and influenced by all the bad news. Political bikkering is constantly highlighted by the media and has even reached the foreign news. One bright spot was the cabinet decision to force toll operator Grand Saga to remove the barrior to a housing estate road in Cheras which had caused hardship to the residents. This shows that the politicians are beginning to listen to the public who have a genuine concern
Smart money uses bad news, uncertainty and a gloomy environment to accumulate.
An example is below:
Monthly chart of Maybank:
Maybank is testing 2004 support on relatively high volume. News is extreemly bad as perceived by the investment analysts and most fund managers. Perceived bad news are the recent aquisitions in Indonesia and Pakistan which some analists say are unstable countries etc. Some are even forecasting that Maybank will cut their dividend
Even Tan Teng Boo of I Capital downgraded Maybank from Buy to Hold.
On the other side of the coin if Maybank was so financially in trouble why did ASB, EPF and PNB buy 38,363,000 shares from 30 April to 16 May ? Why have other prominent funds and inside money been buying Maybank in the face of extreme bad news ?
Smart money buys under the cover of bad news. They do not want to push up the price against their own buying. That is bad for business. I would not be surprised if much of the bad news is manufactured by insiders to keep the price down.
If you wish more information on this topic come to our session on 14 and 15 June. Brochure attached. We will showcase the new TradeGuider software features which is
FOC to owners of TG and may have a seminar broadcast from Chicago with a Malaysian Market Oulook by Gavin Holmes.
We will also present some benefits of the soon to be launched Man Eclipse Hedge Fund. This fund can be your financial port in a stormy sea which is filled with sharks, giant waves, whirlpools, giant squids, sea snakes,octopuses and other dangers. Average returns for AHL fund was over 7 % last quarter.
Due to space limitations please let us know if you wish to attend.
Have a good week ahead
Bill
Even Tan Teng Boo of I Capital downgraded Maybank from Buy to Hold.
On the other side of the coin if Maybank was so financially in trouble why did ASB, EPF and PNB buy 38,363,000 shares from 30 April to 16 May ? Why have other prominent funds and inside money been buying Maybank in the face of extreme bad news ?
Smart money buys under the cover of bad news. They do not want to push up the price against their own buying. That is bad for business. I would not be surprised if much of the bad news is manufactured by insiders to keep the price down.
If you wish more information on this topic come to our session on 14 and 15 June. Brochure attached. We will showcase the new TradeGuider software features which is
FOC to owners of TG and may have a seminar broadcast from Chicago with a Malaysian Market Oulook by Gavin Holmes.
We will also present some benefits of the soon to be launched Man Eclipse Hedge Fund. This fund can be your financial port in a stormy sea which is filled with sharks, giant waves, whirlpools, giant squids, sea snakes,octopuses and other dangers. Average returns for AHL fund was over 7 % last quarter.
Due to space limitations please let us know if you wish to attend.
Have a good week ahead
Bill
9:20 am - KLCI had a high volume last Friday.
This maybe a reversal volume to go UP ! Let's see if there is a follow thru this evening.
The market is directionless.
8:59 am - FKLI gap down on lower expectation that regional markets are weaker 1
FKLI market is ranging now and placing long trade or short trade is difficult.
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