Expect more volatility in the markets this week. Dow lost 97pts on Friday morning before recovering to close up 27pts. The Dow should continue to ease in the coming days this week. I am looking at about 12,900 for the Dow. The usual suspect - financial stocks would likely send the Dow lower as I expect more bad news related to the subprime thingy. The odds a market crash (i.e. a fall of about 10% or more) has increased. So, be careful.
Both the KLCI and STI would likely trade sideways for now until a breakout on either side. However, the onus in on the downside this week. KLCI is expected to trade within 1,388-1,425 while STI to trade between 3,660-3,850. Be careful when trading this week.
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