Thursday, March 08, 2007

Watch out at 1,222

The stock market is not a casino unless you want to treat it as one. When you bet in a horse race, that’s gambling; when you bet that palm oil will go up 50 dollars, that’s speculation, and when you bet you can make 3 spades, that’s entertainment.

The KLCI is now at 1171.54 (+14.96). The worst appears to be over, and everyone is smiling again. Chart-wise, it’s my opinion that as the market approaches 1,222; this uptrend may turn out to be a bear trap. Watch out!

This is my opinion only. You are entitled to yours. Buy and sell at your own risk.