Wednesday - 19th March 2008
8.50 a.m. - Malaysia time zone
The market open at 3390 and closed at 3450. The highest was at 3450 and the lowest was at 3171.
It was a quite surprise for the market to open so low at about 250 points from the last traded bar.So was the annoucement made by the PM regarding the new cabinet line-up.
Any way yesterday , I did mention that if the market open below 3510, the market might retrace further down and might end up a white bar at the end of the day. It did but , due to some reasons, I did not really follow through the market. In fact after about 10 minutes of opening, I decided to close my computer and took my sweet time to go elsewhere. So I was not in the position to know whether there has been any clear formation of trendlines or not. In other words I did not do any trading yesterday.
In mid term to long run, the market is still in bearish situation but in a very short term, the market is in the bullish sentiment at least at this very moment before the opening of the market. So as for today, I am not going to forecast anything. Those who have been following my blog may probably have the idea of how to enter the market. To small investors, if the spread between sell and buy is high (or the movement per tick is between 5 to 10 points ), then it is better for you to stay away from the market.Unless if you have a big bucks in your pockets then you can still try your luck. So good luck everybody!