Asian stocks opened higher but lost steam in the afternoon session. Investors remained cautious ahead of the US job report tonight.KLCI fluctuated between gains and losses on Thursday but closed lower at 1,078.71 lost 0.69 pts. Total Volume increased by 80 mln shares to 906 mln shares.
Market sentiment lingering up and down in the morning session as investors digest government policy changes recently concluded in Invest Malaysia 2009. But investors eventually decided to retreat after seeing the Index fluctuating in the negative zone for the whole session. The Intra-Day Oscillator ended at -406.63 lost 452.45 pts, when compares with the starting point. The Average recorded a loss of 145.77 pts.
The Key Indicator (Blue) of the Daily MSO Chart fell into red to -14.16 lost another 224.26 pts. 20MAV edged lower and 50MAV curved downwards.
Conclusion
The MSO Chart always tells the truth but people won’t believe it. People are too concern on their self-esteem and refused to accept the fact especially when one has to cut loss.
I am talking about myself.
This is the fifth time that Index failed to break through the 1,080 level. Too many failures would diminish investors’ confidence. Those who wish to push the market up must act fast and firm or forever lose the chance to revive the market.
With several research houses singing in sorrow tone, it is hard for the band wagon to carry on. Most investors have already stepped down from the wagon.
Sadly, those who still stay has to hold the fireballs again while waiting for next spring to come. (Constructed and shared by Smartbiz)
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