Wall Street continues to be plagued by the concern of the worsening subprime market. S&P gave back all of its gains for the year while Dow is about to give it all back. Need I say more here?
While I was chatting with my ex-boss yesterday, he painted me a gloomy picture for the weeks ahead. His outlook for the STI and KLCI is a lot lower than what I thought it would be. And the worse think was I think he could be right. He is looking at STI falling to about 2,750 while KLCI falling to about 1,070-1,130. Later, I managed to run through some of my charts. The targets that he gave is indeed very 'possible'. Right now, I would continue to hold on to my targets at 3,100 for STI and 1,200 for KLCI.
So, people stay away from the market!!!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment