Thursday, February 28, 2008

Friday's Market

Thursday - 28 Feb 2008

11.50 p.m. - Malaysia time zone

This morning at about 10.00 a.m., I tried to post to this blog regarding today's ( Thursday's speculation ) but due to interruption at blogger and blogspot's web, the publication of my posting was not successful. As far as I am concerned ,I would prefer to post my forecast before the market opens.

The market open at 3879 and closed at 3850. The highest was at 3882 and the lowest was at 3837. Since I was not able to do any forecast for today, so I think it is better for me not to say anything.


The way I look at it, I think the market is in consolidation or sidelines phase. It would simply mean that if there is a signal of going up , the market would move in a different direction. If there is a signal of selling, the market instead would move to go upwards and vise versa. This can clearly be seen especially at the opening of the market. The strategy to use here is to use contrarian strategy which means buy at the point where you are supposed to sell and sell at the point when you are supposed to buy. The risk is quite high, only those who are experience in this line can figure out the right position to enter the market.For those who are not sure , just stay away from the market for a moment. The only possible way to trade in this sidelines situation is to look for clear formation of trendlines.Any way you still have to be very careful. For the time being, I am not going to make any speculation until this sideline phenomena is over.

I foresee that the market would be "moving" again if it breaks up above 3920 or breaks down below 3750. If these level are not broken , I would say the market would be moving between these range.

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