Hey guys & gals. Sorry for not posting for couple days. I have been busy with some personal matters. I hope to resume posting sometime after raya. Before that, I just want to share some opinions about the market.

Yesterday and this morning, we’ve witness some of the biggest fall in Dow Jones and Malaysia market. The US Government (Mr Bush and his cronies) are once again using this to scare off the weak holders and profit from this. He is using the “FEAR” strategy again, telling everyone if this bill is not passed, then the world will collapse. He is clearly trying to rob the country every single cent before leaving the white house.

The 700 billion plan that the US treasury department has proposed has no way to end the recession. In fact, it is just another lame excuse to bailout the super rich, and let the poor become poorer. In this bill, there’s no single items explain ways to rescue the public, people like you and me (I’m saying this because we’ll..if we’re not now…be affected by the storm in US). The bill is to rescue the banks and their CEO, buying off their failed investments and mortgages.

Now looking from the pass, as the news become worst, the faster the rebound will be. They are already buying at the low, using the bad news to mark down the price and accumulate position.

For now, don’t be panic. If you are a share trader. Buy only very top quality share (avoid Maybank at all cost). If you’re long term FLKI trader, then you would have to hold out first. The FKLI is certainly accumulating at the 1000 level. If it continuously to close below 1000 level, then we’ll have to beware that it is going to go down further. Else, a rebound is very possible soon.

As in CPO, it is going to see how Crude oil is doing. The support level is going to be at USD90. If it breaks thru, tendency to down further is high. I believe it is going to be tested this week or earlier next week. In order for CPO to reverse up, 2200 level is critical. It has to close above that and sustain that level.

The situation in US will determine how the market behave this Friday and next week. Pay close attention. Remember, don’t panic and scare out by the news. Look at the chart and believe in it.

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