The FBM KLCI closed at 1,186.19 today, up 5.65 points from yesterday. Tan is also projecting the FBM KLCI to reach 1,500 points within two years depending on the economic development in the country as well as globally. Managing director Tan Teng Boo believes that stock markets have bottomed "a few months ago" and that the global economy is on course to a V-shaped recovery."The global stock markets are on a major bullish reversal," he told reporters yesterday at the launch of a global unit trust fund."As long as Malaysia does not face major political calamities, the longer-term outlook for Bursa Malaysia remains positive," he told reporters after the company's annual general meeting today.
On the global economic outlook, Tan believed the global economy led by China has begun a V-shaped recovery and the current rally the beginning of a new bull market. "The global economy is facing a secular boom with cyclical inflation." He also believed the global economic contraction in the last three quarters was not due to the US sub prime or mortgage problems. "Analysis showed that global economic activities contracted only after the collapse of Lehman Brothers on September 15, 2009. "In the last twelve months, the global economy impacted by the US-led financial crisis, went through a very turbulent period, leaving investors totally confused," he said.
Meanwhile, Malaysia's only listed close-end fund, icapital.biz recorded a revenue of RM11.4 million for the period ended May 31, 2009, a fall of RM34.3 million or 75 per cent compared to the same period last year.
As of July this year, the company has invested in 17 listed companies including Parkson Holdings, Astro, KL-Kepong Bhd, F&N Holdings Bhd and Petronas Dagangan Bhd, topping the list in terms of the size of unrealised profits.
Its investments totalled RM156.99 million while total unrealised gain was M60.8 million.The conservative fund now has cash holdings of below RM40 million, which Tan said was the lowest in the fund's history and a reflection of the many bargains available on Bursa Malaysia.
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1Jamban King @King Spartan Edmund >>> Fibonajis Terpusing Technical Analysis FBM KLCI Next Direction .... 1080 or bust!!!KLCI next direction is now going to around 1080. Currently KLCI is now at 1186. So it is around 100 points KLCI must correct before the next upward move if any. I have mentioned before in my previous post that any rally must have a bull strike / bull trap before the next upward move to proceed further.
The KLCI although just drop 6.8 points at 3pm today, it looks like the rounding top is currently forming.(The FBM KLCI closed today UP 5.65 points .... hehehehe :D)
Another reason why I am so confident KLCI will drop further is because of my good buddy and the person the I will always follow up => the great Nasi Lemak Guy.
I happened to be his chat box looking how the nasi lemak is being made together with his friend and this is a 100% copy of what I saw:-
"NL Man: NL add 2 more FKLI 1173.5 LONG >>>> 1173.5 + 1173.5 + 1180 + 1182 = 4709 / 4 = 1177.25 x 4 lots average ALL LONG" .... (FKLI closed 1183 and Nasi Lemak man still holding LONG 1177.25 average x 4 lots hehehehe!!!! :P)
He is averaging long (meaning betting for KLCI to go up) in FKLI index. I am thinking, if this guy is really good, he wont be eating and selling nasi lemak to his followers. Indeed he will be like Tan Teng Boo or more successful than Tan Teng Boo. But this old NL is 20 years older than Tan Teng Boo and still eating Nasi Lemak. How can I follow him?He is my nightmare, I am really scare 1 day, when I am 60 years and I will think back to the past, what did I do as a youth to deserve all this, why am I still eating Nasi Lemak till I enter my grave? Better I eat shit now .... hahaha!!!
As a result, based on my analyst on KLCI and Nasi Lemak Guy, I decided to follow the opposite of NL and sell all my share at a RM 5,000 -RM 6,000 lost for today. It is only 10% of what I have gained in my past 4 trades.Thank you for saving me Nasi Lemak Guy. I will always look up to you as you will also remind me of not becoming like you. Thank you again.
HAPPY JAMBANING EDMUND TAN
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