Good morning everyone

The market has yet to awake from its deep slumber and if the volume is an any indication ,we can expect another day of listless trading.
There do not seem to be follow through in most counters and one need to be extra cautious at this stage.
Watching at the sidelines for developments may be the best strategy at this point if not in position.

Thank you

Chris Choo
chrischoo007@gmail.com

Good morning everyone,

One of the "good features" of living in this country is the unusually large number of public holidays.
Someone remarked we have "twice " the number of days off compared most others.
Hows that ! Unfortunately this prolonged holidays may have affected market volumes..and coupled with weak sentiments all around the world with discouraging news from the US ,Europe and even China compounding the already weak sentiments.

On the local front some counters like Astro ,Perisai ( both with relatively strong positive announcements ) and Uem Land seem to hold up well against the weak backdrop n hopefully with better sentiments next week may help lead the broader market.

Happy Trading

Chris Choo
chrischoo007@gmail.com

Hello there 

Happy Deepavali to those celebrating the festival !

I just back from a long holidays ...tiring but truly enjoyable.

The market is still trading "sideways " ie trending down ,the main reason being the many holidays during this period...You will notice that most active counters would have lost one to half their normal daily trading volume, This phenomena gives rise to more contra players selling than fresh contra buying. The nett effect would be a easing of share prices on most counters ...only counter with specific "agenda ' will break this trend.

One should watch at the sidelines and wait for fresh impetus and renewed buying which may come about as the holidays period comes to an end..and a normal week resumes ie next week..

This is my opinion of the market. 

Thank you

Chris Choo

An opinion piece....

start with color red ( u know why... hahaha)

Sometimes when the market gets rough ,when all seems lost...you might want to be a contrarian....after all if a spring is compressed hard enough it is bound to "rebound" such as TM, Axiata ( blue chips rebounding may tell a story for tomorrow ...)

a) heavily beaten down counters which were active recently

b ) counters which are resting on long term support

c ) counters which seems to defy the broad market downtrend

d) counters which are rumoured to have secured big contracts

e ) counters which are experiencing heavy contra selling...

f ) etc etc....

Just like no share will go up forever ,the reverse is equally true.

Few in my forum came & met me for lunch. We discussed few stocks that in play that we could make quick profit in this bearish market. Taught them how to read pattern in this bearish market. They are all very excited in this new teaching. Pretty sure they would profited handsomely as I saw the closing as we predicted. 

Will be on holidays from tmrow till next tuesday...

Wishing all readers you happy trading and have a good weekend (long weekend )

Thank you

Chris Choo

chrischoo007@gmail.com

KLSE 08/11/2012

Good morning everyone,

Wish I could say something "nice" this morning but The Dow has plunged about 300 points or about 2.4 % ..there might be a knee jerk reaction but I doubt it will be serious as our market has been on a downtrend for awhile and the correlation is low anyway...For intraday players you might want to watch closely during early trade and try to catch counters that open with healthy volumes and positive price reversals after a few minutes...counters that close near the highs yesterday evenings may deserve a watch....

Have a good day

Thank you

Chris Choo

KLSE on 07/11/2012

Good morning everyone....

 Like yesterday, I don't think the market is going to have a broad rally ( at least in the malaysian context ...btw a rally in the local market may look "tepid" or quiet in the Hong Kong or korean context ! ) ...today...

 As a "compass" guide today Axiata which is a top ten volume counter will probably be a good guide for day traders....A sharp positive reversal

( which seems unlikely ) may give the necessary impetus for certain operators and market makers to move certain 2nd liners...without which we are gonna look for the usual needle in the haystack...

 To those who are new to the market ( our local market ) perhaps it may wise to sit back and observe the following "phenomena" on a daily basis....( generally with the occasional exceptions )

 a) counters closing at the day's high and is completely listless ( ie trade down and no volume ) the next day ! ( long white candle extinguished ! )

b ) high volume top 20 counters with no or single bid band throughout the day ...who makes the money ?

c ) counters that grow in volume and price despite denials of news ( as replied to UMAs )

d ) counters that have little volume but with steady price increase over a few days ( sheepishly or in cantonese "kwai kwai shee shee )

e ) counters that seems to hold at a steady positive (up over the previous day closing ) despite a weak market...

We will discuss this in our next talk among other topics.

Thank you

Chris Choo

My Opinion... 

Counters like Takaso, Gocean are momentum based counters ,TA may indicate

good entry points but players need to meet the following criteria...

a) awareness of trend trading techniques ( entry /exit points )

b) right trading psychology ( no sentimentalism towards price and fundamentals )

c ) time affordability ( eg preferably full time to take account of minute fluctuations )

A person to understand the full market mechanics before attempting such plays...with

practice and willingness to learn ,such trading can be highly profitable ...

Patience is a virtue..

if you have any questions on any stocks please drop a comment.

Thank you

Chris Choo