Oct 12 2006
Will someone please ask the bull if it really getting ready for a charge ? as of 4 p.m. today (12-oct-2006), the bull seems like teasing us to watch if we have enough guts to jump-in the ride … 970 has been breached and the 967 become our support … but at the current 976 (up by 5 points +), it’s really hard to see if this uptrend can be sustained … as for me i’m still sceptical unless the volume is comfortably above 1 billion per-day … on the other side, this mini-bull (ok, i might be conservative in presenting this “bull” award, but i guess a “mini-bull” should fit the shoe) … could it due to the following :
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since dow-jones is in bullish form (note that investors are quite comfortable with federal reserve in leaving the interest rate for the time being) with oil-price below $60 (thank god), it only make sense for bursa (klse) to play catch-up with the regional bourses …
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could the year-end window-dressing comes early this year … it will be good for klci (composite index) to start rally now as the 2nd & 3rd liner are queuing up for its’ turn …
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noticed that both genting and now resort stocks are the main players which is pushing up the index … looking at harrah which pull-out from the race, genting could see a better chance in securing the 2nd casino tendered out by singapore government … genting was reported “talking” about casino business in japan (japan is a huge market mind you) …
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could this be an indication of “early election” ? well, every tom, dick & harry know that the stock market traditionally will goes up pre-election … noticed the road around your area has been upgraded or been given a cosmetic treat ?
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October 12th, 2006 by financetwitter
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