Monday, October 13, 2008
4:50 pm - Market Outlook by Bill Wermine
Dear Traders & Investors,
The market consensus is overwealmingly bearish. Read the newspapers and see the doom and gloom, panic and fear. Emotions rather than logic are dominating the mood. The Economist magazine showed an investor swinmming on the top of the ocean and a giant shark waiting to eat him up. Is it so bad ? Is the market saying something about itself while the experts are preaching that the end of the world is near ? Remember bad news is good news for the media.
Martin and I held an investment talk Sunday to a crowd of over 60 investors. We asked the usual question. How many are bullish ? No one raised their hand. How many are bearish ? Almost everyone responded.
Looking at the KLSE chart tells a different story. Major monthly support is being tested and it is holding. Valuations are at 1997 panic levels so there is very small risk at this point. KLSE is up 15 points today. Accumulate quality issues at this level.
We are holding a market talk next Saturday at CIMB Auditorium to share the curent market outlook/ opportunities and why we are in this financial mess. Details/map are below with map attached.
The market consensus is overwealmingly bearish. Read the newspapers and see the doom and gloom, panic and fear. Emotions rather than logic are dominating the mood. The Economist magazine showed an investor swinmming on the top of the ocean and a giant shark waiting to eat him up. Is it so bad ? Is the market saying something about itself while the experts are preaching that the end of the world is near ? Remember bad news is good news for the media.
Martin and I held an investment talk Sunday to a crowd of over 60 investors. We asked the usual question. How many are bullish ? No one raised their hand. How many are bearish ? Almost everyone responded.
Looking at the KLSE chart tells a different story. Major monthly support is being tested and it is holding. Valuations are at 1997 panic levels so there is very small risk at this point. KLSE is up 15 points today. Accumulate quality issues at this level.
We are holding a market talk next Saturday at CIMB Auditorium to share the curent market outlook/ opportunities and why we are in this financial mess. Details/map are below with map attached.
Bill & Myself are presenting a talk on trading opportunities in the Bursa Malaysia & Global Outlook on Sat 18 Oct, 2008. The talk is free. You are welcomed to bring friends along. Seats are limited. See attachment to register.
Rgds, -Martin Wong/ Bill
3:26 pm - Anyone knows why PB Bank drop ???
PB Bank has broken its support at 960.0. However this is not the time yet to buy yet !
9:13 am - KLCI opened slight higher. tenative to move sideway first !
Can it closed positively today ?
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