Bullish signals all over the globe
6th February: Encouraging signals in Europe and emerging markets. In Europe the Eurostoxx50 broke out of a bottom and key resistance at 2,500. In the US, the Dow has broken a major resistance and the Nasdaq has made a 12-year high.
In Asia, Hongkong continued its bullish streak with many blue chips breaking small bottoms. India also shrugged off its range bound malaise and broke a key resistance. Taiwan also broke out of a bottom on good volume.
The sum of these signals suggest that the global trend is turning decidedly bullish
http://www.asiachart.com/us.html
http://www.asiachart.com/hkchina.html
(Maybe a few more govts will fall in the coming one year or two.)
Romania PM Emil Boc resigns after austerity protests
Romania's Prime Minister Emil Boc has stepped down to "defuse political and social tension" after a series of protests against austerity measures.
Speaking after a cabinet meeting, he said he had given up the government's mandate as "it is the moment for important political decisions".
Although Romania's economy grew last year, the government has been hit by three weeks of demonstrations.
Mr Boc has imposed a 25% cut in public sector wages and a freeze on pensions.
http://www.bbc.co.uk/news/world-europe-16905151
(06-02-2012, 10:44 AM)Behappyalways Wrote: [ -> ]If STI hits above 2950 and stay above there, the next target might be 3150.
http://www.asiachart.com/malaysiasing.html
Soooo, STI for today is 2957.78, with a 17.68 (0.6%) increase. Lets hope the charts are right
My guess.....
We should be hitting 3150 soon but....BUT....market is ripe for a sharp correction. To weed out those weak players and contra players.
3100-3150 looks probable but the question is what comes after it? Can it continue forward to 3800? If it does, a lot of money will be made. My take?.......I see a lot of sensible people selling stocks and staying sidelined which is a good sign. When one day, when these sensible people cannot tahan to see auntie/uncle making money and take the plunge again, might be time to run....maybe the index then might be much higher than now....But provided that there are no negative external events like war and etc...(I think certain people know why i highlight war.....)
(I use a lot of 'should', 'might' and etc.....nothing is absolute.....remember Man proposes God disposes)
(07-02-2012, 05:03 PM)PeterSoh Wrote: [ -> ] (06-02-2012, 10:44 AM)Behappyalways Wrote: [ -> ]If STI hits above 2950 and stay above there, the next target might be 3150.
http://www.asiachart.com/malaysiasing.html
Soooo, STI for today is 2957.78, with a 17.68 (0.6%) increase. Lets hope the charts are right
You mean auntie/uncle buy low and sell high to the "sensible people"?
Err, dont look down on Auntie/Uncle leh. I remember reading a news report saying a housewife trading returns is more than his economic professor husband investment returns.
(07-02-2012, 11:36 PM)Mr Nobody Wrote: [ -> ]You mean auntie/uncle buy low and sell high to the "sensible people"?
I meant when people on the street can 'anyhow' make $$$, those sensible people's ego will be hit and they cannot tahan ...^^
Earnings have yet to show it's true colors. We will see it at end of Feb. When I look at 3Q 2011 results, only 1 out of 10 company managed to increase net profits. The euphoria will stop and reality will come back. The only possible driving force will be the replenishment of inventory and reversion to mean after sustained period (last year) of bear market.