Today, we should see the bulls continue to fight back after the bulls had the upper hand yesterday. Wall Street rebounded but European markets were flat. The bull is expected to dominate proceedings in the next couple of days. Nevertheless, the bear lurks around the corner. I expect selling pressure to persist and capping any rise. Investors should continue to unload on rallies as I foresee a bleak 2-3 months at least.
Here is one of the reasons why I feel this bull market is coming to a temporary end (2-3months consolidation). In Malaysia, the stocks that ran the earliest such as Gamuda (5398), SP Setia(8664) and Tenaga(5347) are under a lot of pressure for the past couple of weeks. On the other hand, property stocks in Singapore have already made a reversal. So, with the leaders coming under pressure, it is only a matter of time before the rest could follow suit. Buyers beware!!
As for Jaks (4723), I could have made a lot more if I held on. But with the overall market turning sour, in the end, I believe it could still turn out to a good move.
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