Monday, August 08, 2011

Market Outlook as at August 8, 2011

FBM-KLCI has just tested its strong horizontal support at 1475. Its next support is at 1400 & 1350. We are seeing sharp sell-off throughout Asian stock markets. Is this a market panic which could flush out buying opportunities? Does it matter if we have seen a top in the market? Only time will tell.


Chart: FBM-KLCI's weekly chart as at Aug 8, 2011_11.15am (Source: Quickcharts)
at

5 comments:

  1. limchohooiMonday, August 08, 2011 2:07:00 PM

    market oversold, be greedy when other fearful!

    ReplyDelete
  2. JYMonday, August 08, 2011 3:11:00 PM

    Seems like 1475 hold. Time to buy today and reap profit tomorrow.

    ReplyDelete
  3. MaxWealth88Monday, August 08, 2011 5:09:00 PM

    alex,

    what do you think about Eng? it has propose to be taken private.
    at current price, seems can make 10% return? i'm just afraid the deal is like knm last time..

    thanks
    maxwealth88

    ReplyDelete
  4. joetoshMonday, August 08, 2011 6:10:00 PM

    loss the opportunity is better than loss the money. So stay aside until meaningful rebound. When? time will tell. Stay tune with this blog

    ReplyDelete
  5. Alex LuSunday, August 14, 2011 10:09:00 PM

    Hi MaxWealth88

    I think the major shareholders of Eng are quite honorable people. Their conduct prior to the announcement suggests they would not pull a stunt like KNM or Latexx. Since the buyout is at RM2.50, the stock looks reasonably priced at RM2.19; a 11%-return for a 4-6 month holding period.

    ReplyDelete