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Monday, August 29, 2011
Selamat Hari Raya Aidilfitri
I like to wish all Muslim readers a very happy & joyous Aidilfitri.
Hi Alex, Happy Hari Raya to you but I am not Happy on 29/8 as MEGB slide to 1.31. What is your opinion on this poor result college? I was bought at 1.77 and now in deep lost. Is there any chance for this stock to rebound on your rich experience in the market?
The US market has been quite strong in positive territory during our holidays with thin volume. Is thin volume an indicator that its a bear rally or its possible a reversal ?
Your question is applicable to many markets. Is the worst over or are we seeing a developing bear rally. No one knows. Whether it is one or the other, my gut feeling is that the rebound or rally may not go very far. It could be strong at the outset but the economic challenges are very stiff. Europe has to deal with its heavy debts & possible insolvent banks. US has to deal with its heavy debts and its fiscal policy is held hostage by partisan politics (see the recent debt ceiling debate). Finally, emerging countries are fighting inflationary condition by slowing their economies. All in all, the best case scenario is one of sideway market while the worst case scenario is another 2008 sell-off.
MEGB broke its recent low of RM1.60 on August 26. With that, the stock is in new low territory. Technically speaking, this is very bearish. It could test the psychological RM1.00 level. Hopefully, it can find support at that level.
4 comments:
Hi Alex,
Happy Hari Raya to you but I am not Happy on 29/8 as MEGB slide to 1.31. What is your opinion on this poor result college? I was bought at 1.77 and now in deep lost. Is there any chance for this stock to rebound on your rich experience in the market?
Hi Alex ,
Hope you have enjoyed your holiday!
The US market has been quite strong in positive territory during our holidays with thin volume. Is thin volume an indicator that its a bear rally or its possible a reversal ?
Your comment will be much appreciated . Tx!
Hi luckystock2
Your question is applicable to many markets. Is the worst over or are we seeing a developing bear rally. No one knows. Whether it is one or the other, my gut feeling is that the rebound or rally may not go very far. It could be strong at the outset but the economic challenges are very stiff. Europe has to deal with its heavy debts & possible insolvent banks. US has to deal with its heavy debts and its fiscal policy is held hostage by partisan politics (see the recent debt ceiling debate). Finally, emerging countries are fighting inflationary condition by slowing their economies. All in all, the best case scenario is one of sideway market while the worst case scenario is another 2008 sell-off.
Hi Chun Mun
MEGB broke its recent low of RM1.60 on August 26. With that, the stock is in new low territory. Technically speaking, this is very bearish. It could test the psychological RM1.00 level. Hopefully, it can find support at that level.
I will post an update on this stock shortly.
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