KLSE Stocks Update as close July 22, 2009

Sold all my open positions: including:

UEM
24/06/09     bought  1.510   sold at  1.68 (22/07/09) changes 11.3%    
01,02/07/09 bought 1.435   sold at  1.68 (22/07/09) changes 17.1%    

ECM                                      
24/06/09    bought 0.615   sold at  0.665 (22/07/09) changes 8.1%
   
TEBRAU                                      
24/06/09    bought 0.755  sold at  0.805 (22.07.09) changes   6.6%

That decision greatly influenced by my bearish overall market outlook. Although I think those counters like UEM and ECM still have potential but I think the index linked counters can pull down these counters together with them especially when the market leaders are probably the same group of large fund managers.

They really 'lead' the market, even in daily market action. E.g. today, the index move first and then only other counters moved up. Seem to me the participants of those counters waiting the signal from the index then only they buy again. That is not the typical intra day market action for active counters. Normally by market opening to 10 am you already can see the active action.

The closing time also a dismay. CI retraced back later in the afternoon,  so are those counters. However CI retraced about only 50% but many of active counters retraced over 100%.

I just don't want to get caught. Can enter again another time.

Sold all my open positions: including:

UEM
24/06/09     bought  1.510   sold at  1.68 (22/07/09) changes 11.3%    
01,02/07/09 bought 1.435   sold at  1.68 (22/07/09) changes 17.1%    

ECM                                      
24/06/09    bought 0.615   sold at  0.665 (22/07/09) changes 8.1%
   
TEBRAU                                      
24/06/09    bought 0.755  sold at  0.805 (22.07.09) changes   6.6%

That decision greatly influenced by my bearish overall market outlook. Although I think those counters like UEM and ECM still have potential but I think the index linked counters can pull down these counters together with them especially when the market leaders are probably the same group of large fund managers.

They really 'lead' the market, even in daily market action. E.g. today, the index move first and then only other counters moved up. Seem to me the participants of those counters waiting the signal from the index then only they buy again. That is not the typical intra day market action for active counters. Normally by market opening to 10 am you already can see the active action.

The closing time also a dismay. CI retraced back later in the afternoon,  so are those counters. However CI retraced about only 50% but many of active counters retraced over 100%.

I just don't want to get caught. Can enter again another time.

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