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[KLCI] My KLCI Outlook

Here is my take:

Market finally got an excuse to correct in the past 2 sessions after an almost uninterrupted 3 weeks rally. This is very much expected for any healthy bull market. Now let's look at the key levels going forward.

Immediately I want to see if we survive 1477(the lows of Oct 20th). If it does, we keep intact the "higher highs - higher lows". 1550 will be the next realistic target.

However, if we breached 1477 decisively then I think we might go sideways with down biased to test the previous low of 1445(the lows of Sept 24th).

In any case, with positive seasonality (CNY) + generally positive social-political environment (expectations of early GE13), I'm pretty comfortable with where we are heading in terms of the market. In fact, breaching 1477 will provide an opportunity to those that have missed the boat to jump on board.

Happy trading!
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Market price action today traced a spinning top that suggest indecision at a critical market level where it managed to just staying above the 1,500 level and yet closed below the 20-day moving average. All in all, short term outlook remains bearish as the correction has been long coming as the MACD and RSI studies have been diverging with the price action since September and a healthy correction would give the market a stronger base for to move higher.

PracProphet's 1,477 should come into play soon as we can also see the bottom range of Bollinger Band is 1,477 as well and the 50-day moving average is at 1,480.
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Today's price action traced a relatively positive candle where buyers found support ahead of 1,500 levels and managed to stay above it after trading below it for most of the day. Though prices remain below its 20-day moving average and short term bearishness remains.

Outlook remains unchanged for the market to at least trade sideways if not lower in the coming weeks ahead as the market continue to digest/consolidate it's gains since June.
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I've been lurking for a while. Just signed up today and this is my first post ==p

Just want to tell you guys that while there might not be many response to your thread. Discussions like this really help new ppl like me.

Please continue to post I look forward to it everyday as a good guideline for share market. (I'm sure there are many like me but just unable to participate in these intelligent and technical discussions)
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Welcome to tradeSignum and thanks for "surfacing" ndlearning :)

Feel free to post anything here as we are all here to share and learn from each other. And hey, it doesn't cost you anything to explore and experiment. Just remember, no harm asking!
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If you buy fundamental stocks if market go up or go down we have nothing to worry, market go down it creates an opportunity and if go up more profit,if anybody dont agree with me I will accept any comment,
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True, if you're investing in the future of the company then short term market swings probably isn't going to make you too worry about your holdings unless the fundamental outlook changes.

Though, as you said, markets can go down and it creates opportunities. Prices do and will continue to fluctuate. My view is that even if you're a long term investor, when you are thinking of buying, paying some attention to the short term swings of the stocks can help you to potentially accumulate more shares for your capital and hence enhancing your returns. Meaning to say if the market has been running up for a while already and the chances of a correction has increased and so it might not be the best spot to add to your holdings.

My 2 cents.
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The truth is many of them do not know what are fundamental stocks.Recently I went for a Forum at Kuala Lumpur on stock market and recommendation was on Sime Darby.I question them why do you want to invest in a stock that have problems eventhough it can be a GLC. The short answer I got new CEO and at the end of the Forum DISCLAIMER appeared and I also came across one stock broking firm became NEUTRAL on a fundamental stock and at then end of the report it was signed by the Head of the RESEARCH Team and again DISCLAIMER appeared.In short we have to be careful and we need a group that will voice up the truth.If we happen to meet one day call me 0126119153.
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Thanks pradeep. That's why we advocate a more active role in managing ones own money and only through education and knowledge can we empower ourselves to make more informed choices and to be able to filter out what makes sense and what is full of bullshit.
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[Nov 19 2010 update] Since this discussion forum format is kind of messy, I'm going to reply to only the main thread :) (No offense tradesignum admins)

As expected, we are in a mild down-sideways correction. The actions for the last couple of trading sessions spot very good looking candles(long legs), suggesting that the market is attempting to find its footings. Furthermore, volume is slowing down, which is always good and expected during any healthy corrections. I actually believe my previously cited level of 1477 likely won't even be challenged anymore. I expect market to resume it's uptrend within couple of days.

So....very healthy correction and things are still looking good in my opinion!
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you are right next week we will see the uptrend and we are preparing for a super bull run by next year.
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[Nov 20 2010 update] - Nothing much to add except that it looks pretty good now with today's green candle confirming yesterday's hammer reversal.

The market is technically very strong.

Looking forward to next week. :)
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