KLCI Intraday Chart (Source: biz.thestar.com.my/marketwatch)The market has continued its uptrend for the third day in a row, ending up 30.48 points to 1,187.06. Today was an important day to restore investor confidence in order for the KLCI to continue its bullish run. It was a day of strong buying and it seemed that some confidence had been restored which was seen in the uptrend of several retail counters that had increased significantly prior to the drop last week. Counters moved up slowly but surely in a sustainable manner. I assume tomorrow will be a day of more buying. Those who were sceptical of the rebound have slowly begun to re-enter the market, myself included.
Wednesday I made a few quick trades. I had purchased Symphony-WA (RM0.185, RM0.19) and Patimas (RM0.155) towards the end of trade on Tuesday and disposed of them on Wednesday at RM0.20 and RM0.16 respectively for a gain of about RM800 as I thought the market would trend lower today. The resilient market caused me to re-enter the market this afternoon. I bought heavily into Patimas at RM0.155 (closing RM0.16), and am waiting for the counter to move to at least 0.25 before considering to dispose. If the market is good, this counter may run to RM0.50 or even RM1 if the bullish trend continues.
Asian Markets had moved strongly higher during the day as follows:
Shanghai Composite 2,928.015 (+31.421) (+1.08%)
Hang Seng 19,175.17 (+256.53) (+1.36%)
Bombay 30 13,049.35 (+469.60) (+3.73%)
Nikkei 225 17,090.311 (+325.69) (+1.94%)
Straits Times 3,122.49 (+63.34) (+2.07%)
Seoul Composite 1,423.89 (+12.94) (+0.92%)
With regional markets continuing to move strongly, I predict Bursa Malaysia will continue its bullish run. May your trades be good trades.
Happy Trading!
Wednesday I made a few quick trades. I had purchased Symphony-WA (RM0.185, RM0.19) and Patimas (RM0.155) towards the end of trade on Tuesday and disposed of them on Wednesday at RM0.20 and RM0.16 respectively for a gain of about RM800 as I thought the market would trend lower today. The resilient market caused me to re-enter the market this afternoon. I bought heavily into Patimas at RM0.155 (closing RM0.16), and am waiting for the counter to move to at least 0.25 before considering to dispose. If the market is good, this counter may run to RM0.50 or even RM1 if the bullish trend continues.
Asian Markets had moved strongly higher during the day as follows:
Shanghai Composite 2,928.015 (+31.421) (+1.08%)
Hang Seng 19,175.17 (+256.53) (+1.36%)
Bombay 30 13,049.35 (+469.60) (+3.73%)
Nikkei 225 17,090.311 (+325.69) (+1.94%)
Straits Times 3,122.49 (+63.34) (+2.07%)
Seoul Composite 1,423.89 (+12.94) (+0.92%)
With regional markets continuing to move strongly, I predict Bursa Malaysia will continue its bullish run. May your trades be good trades.
Happy Trading!
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