The DJI has the potential to drop another 440 points within the next few days. It may even happen tonight. Should that be a reality, the KLCI will definitely be dragged to its next support at 1,051 or lower.
To day it closed at 1,110.69 down 53.99 points. Volume at 2.6171 billion shares is moderately high. The whole world’s stock markets are tumbling down. KLCI got the record at 4.64%. Could smart money be at work? Who doesn’t want to buy low?
Most of the stocks are back to square one. Many are on the way. Should there be another big drop of 50 points, I think it’s a good time for some bargain hunting.
The market always turns around when people are most pessimistic.
Cheers! It’s not doomsday.