Look to go long !
Wednesday, March 11, 2009
Tuesday, March 10, 2009
5:27 pm - Najib unveils RM60 bil stimulus package
Najib unveils RM60 bil stimulus package
Mar 10, 09 12:57pm
The government has unveiled a RM60 billion stimulus package today as it attempts to arrest the export-driven economy's slide into recession.
MCPX
The RM60 billion package will be implemented over a two-year period from 2009 to 2010.
Deputy premier Najib Razak, who is due to take over as prime minister at the end of this month, announced the details of the spending plan when tabling the Supplementary Supply Bill 2009, or mini budget, in Parliament. The package, which is equivalent to 9 percent of last year’s GDP, is broken down as follows:
RM15 billion in fiscal injection
RM25 billion in guarantee funds
RM10 billion in equity investment
RM7 billion for private finance initiative and off-budget projects
RM 3 billion in tax initiatives
“The implementation of such a large stimulus package is unprecedented in the nation’s economic history,” said Najib.
He warned that the economic growth for this year could go into negative territory of -1 percent.
Najib, who is also finance minister, had unveiled a RM7 billion stimulus package last year but acknowledged that the government needs a larger and more comprehensive mini-budget to avert the threat of a recession.
He said that the new stimlus measures will be focused on helping companies and workers affected by the global slowdown, to halt a steady stream of layoffs in recent months.
Malaysia's economic growth slowed to just 0.1 percent in the fourth quarter of 2008, hit by declining exports and manufacturing as demand from its trading partners in the United States and Europe evaporated.
Spending plan a major test for Najib
January exports plunged 27.8 percent year-on-year, hitting their lowest level since 2001.
Prices of commodities such as crude oil, palm oil and rubber, have also plunged.
The government has already acknowledged it may have to abandon its 3.5 percent growth forecast for 2009.
An influential think tank, the Malaysian Institute of Economic Research (MIER), said the economy is likely to sink into a technical recession in the first half of 2009 before making a recovery in the second half.
"The situation looks very grim and this package can probably help cushion the impact of the global downturn but cannot neutralise it," said MIER chief Mohamed Ariff Abdul Kareem.
The spending plan is a major test for Najib, who is taking on the top job one year after general elections that saw the ruling coalition battered by a resurgent opposition.
Within days of taking office he faces a series of by-elections which will be seen as a barometer of his popularity, and the coalition's ability to claw back support after the electoral drubbing.
Mar 10, 09 12:57pm
The government has unveiled a RM60 billion stimulus package today as it attempts to arrest the export-driven economy's slide into recession.
MCPX
The RM60 billion package will be implemented over a two-year period from 2009 to 2010.
Deputy premier Najib Razak, who is due to take over as prime minister at the end of this month, announced the details of the spending plan when tabling the Supplementary Supply Bill 2009, or mini budget, in Parliament. The package, which is equivalent to 9 percent of last year’s GDP, is broken down as follows:
RM15 billion in fiscal injection
RM25 billion in guarantee funds
RM10 billion in equity investment
RM7 billion for private finance initiative and off-budget projects
RM 3 billion in tax initiatives
“The implementation of such a large stimulus package is unprecedented in the nation’s economic history,” said Najib.
He warned that the economic growth for this year could go into negative territory of -1 percent.
Najib, who is also finance minister, had unveiled a RM7 billion stimulus package last year but acknowledged that the government needs a larger and more comprehensive mini-budget to avert the threat of a recession.
He said that the new stimlus measures will be focused on helping companies and workers affected by the global slowdown, to halt a steady stream of layoffs in recent months.
Malaysia's economic growth slowed to just 0.1 percent in the fourth quarter of 2008, hit by declining exports and manufacturing as demand from its trading partners in the United States and Europe evaporated.
Spending plan a major test for Najib
January exports plunged 27.8 percent year-on-year, hitting their lowest level since 2001.
Prices of commodities such as crude oil, palm oil and rubber, have also plunged.
The government has already acknowledged it may have to abandon its 3.5 percent growth forecast for 2009.
An influential think tank, the Malaysian Institute of Economic Research (MIER), said the economy is likely to sink into a technical recession in the first half of 2009 before making a recovery in the second half.
"The situation looks very grim and this package can probably help cushion the impact of the global downturn but cannot neutralise it," said MIER chief Mohamed Ariff Abdul Kareem.
The spending plan is a major test for Najib, who is taking on the top job one year after general elections that saw the ruling coalition battered by a resurgent opposition.
Within days of taking office he faces a series of by-elections which will be seen as a barometer of his popularity, and the coalition's ability to claw back support after the electoral drubbing.
12:11 noon - Expect a sideway market with a bias for upside !
Notice the falling volume. Expect a reversal soon !
Sunday, March 8, 2009
7:58 pm - Market Outlook by Bill Wermine
Dear Traders,
Next Saturday and Sunday, 14 15 March , Martin and I will be at the ATIC Investors conference at the KL Convention Center. I will be speaking on Support and Resistance Simplified at 9 AM on Saturday. Martin will be at our table to showcase his new CD - Point and Figure Simplified as well as our CD Support and Resistance Simplified which is a video shoot of the presentation I will deliver. Price for these CDs is very reasonable.
If you would like a free ticket to the ATIC click on the banner at the bottom of my home page- www.Tradethetruth.com
There will be many speakers including trader Darul Guppy who is very straightforward, simple and the real deal. I urge you to come and listen to him as well as the other speakers. There is bound to be something that can improve your trading results.
Expect more range trading next week in the KLSE but stability due to strength in CPO.
Until the banking crises in the US is resolved which is having spill over effects in all the world markets, don't expect much movement in the KLSE.
Since Obama took power the Dow Jones has collapsed over 20 % and unemployment has jumped to 25 year highs. General Motors has fallen to a 75 year low. It seems the market is a good judge of Obama's character. Remember price and volume never lie and the truth is that Obama has failed miserably.
When I started in this business in 1974 , my mentor told me that GM was a bellweather for the US Stock market. This is because of exposure to steel, rails, high tech, copper, rubber and a host of other vital industries including defense. Now the Dow is about to lose a company which is a reflection of the economic health of the US economy. Thousands more workers will lose their jobs.
Obama is not taking the decisive steps to save the sinking ship. He still panders to special interests, chronies, union bosses,
and the powerful political elite. He promised to shut down the Iraq war but he does so gradually and reluctantly while sending thousands of more troops to Afganistan to fight in a quagmire. The Afgans have never been defeated- the British, Russians tried and failed- Do you think the Americans can do any better ?
The winners are the same political interests and favored defense contractors who benefited from the Bush administration.These special inrests will support Obama in the next election with handsome campeign contributions. Business as usual.
What can we do ? We can not fight city hall. Learn to short sell/ trade KLSE futures/ trade currencies/ commodities such as CPO and profit from the man made credit disaster created by the Wall St con artists. Upgrade your trading knowledge
If you wish to invest, Man AHL is the only investment I recommend at this moment as it profits the most when the world economy is at its worst.I invite you to check its performance- one of the few funds that made money in 2008. Call me or Martin if you want to invest. http://www.maninvestments.com.au/ahldiversifiedaud/index.cfm?r_id=CANOPUS&CFTOKEN=57794096
Have a good week ahead,
Bill
Next Saturday and Sunday, 14 15 March , Martin and I will be at the ATIC Investors conference at the KL Convention Center. I will be speaking on Support and Resistance Simplified at 9 AM on Saturday. Martin will be at our table to showcase his new CD - Point and Figure Simplified as well as our CD Support and Resistance Simplified which is a video shoot of the presentation I will deliver. Price for these CDs is very reasonable.
If you would like a free ticket to the ATIC click on the banner at the bottom of my home page- www.Tradethetruth.com
There will be many speakers including trader Darul Guppy who is very straightforward, simple and the real deal. I urge you to come and listen to him as well as the other speakers. There is bound to be something that can improve your trading results.
Expect more range trading next week in the KLSE but stability due to strength in CPO.
Until the banking crises in the US is resolved which is having spill over effects in all the world markets, don't expect much movement in the KLSE.
Since Obama took power the Dow Jones has collapsed over 20 % and unemployment has jumped to 25 year highs. General Motors has fallen to a 75 year low. It seems the market is a good judge of Obama's character. Remember price and volume never lie and the truth is that Obama has failed miserably.
When I started in this business in 1974 , my mentor told me that GM was a bellweather for the US Stock market. This is because of exposure to steel, rails, high tech, copper, rubber and a host of other vital industries including defense. Now the Dow is about to lose a company which is a reflection of the economic health of the US economy. Thousands more workers will lose their jobs.
Obama is not taking the decisive steps to save the sinking ship. He still panders to special interests, chronies, union bosses,
and the powerful political elite. He promised to shut down the Iraq war but he does so gradually and reluctantly while sending thousands of more troops to Afganistan to fight in a quagmire. The Afgans have never been defeated- the British, Russians tried and failed- Do you think the Americans can do any better ?
The winners are the same political interests and favored defense contractors who benefited from the Bush administration.These special inrests will support Obama in the next election with handsome campeign contributions. Business as usual.
What can we do ? We can not fight city hall. Learn to short sell/ trade KLSE futures/ trade currencies/ commodities such as CPO and profit from the man made credit disaster created by the Wall St con artists. Upgrade your trading knowledge
If you wish to invest, Man AHL is the only investment I recommend at this moment as it profits the most when the world economy is at its worst.I invite you to check its performance- one of the few funds that made money in 2008. Call me or Martin if you want to invest. http://www.maninvestments.com.au/ahldiversifiedaud/index.cfm?r_id=CANOPUS&CFTOKEN=57794096
Have a good week ahead,
Bill
Saturday, March 7, 2009
8:49 am - Chart of the Week - Suncity
Buy if it take out the high rm1.56 and above. Put your stop at support rm1.41-rm1.40
Friday, March 6, 2009
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