Our market declined broadly yesterday in line with decline in global markets. This global decline is brought on by uncertainty and confusion generated by reckless action in Washington- the latest being tariff to be levied against Turkey. We will never be able to keep up with a madman, and we will do more harm to ourselves if even tried to match. For that reason, we must avoid being suck into the fear-and-greed cycle and keep calm in this man-made storm.
Looking at the major indices in our market, I believe that FBMKLCi & FBM70 are merely consolidating after a sharp rally while FBMSCAP & FBMACE are getting ready to follow in the footsteps of FBMKLCI & FBM70. This period of uncertainty could be a time for us to slowly buy into beaten down stocks.
Chart 1: FBMKLCI's daily chart as at Aug 13, 2018 (Source: Shareinvestor.com)
Chart 2: FBM70's daily chart as at Aug 13, 2018 (Source: Shareinvestor.com)
Chart 3: FBMSCAP's daily chart as at Aug 13, 2018 (Source: Shareinvestor.com)
Chart 4: FBMACE's daily chart as at Aug 13, 2018 (Source: Shareinvestor.com)
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