KLCI is expected to rally again after a short pullback today. The pullback is due to Friday's weakness on the Dow. Use this as an opportunity to get in. Plantation counters would likely lead the charge again today. Could reach 1,544 this week, where the next (projected) resistance is. I also like property counters like YNH Property (3158) and Mah Sing (8583). Scomi Eng and Scomi Marine could move sharply today or tomorrow. Construction counter Muhibbah is also going to be a star as it should hit new all time highs soon.
As for the STI, I think it going to track the US more closely. Well, at least, it is still holding within its consolidation triangle. Aggresive investors could continue to accumulate now while risk adverse investors may want to wait a while (for the index to stabilise) before getting in. The index could fall to 2,970-3,170 should the 3,268-3,275 support give way. I still like property counters in Spore - Capitaland, Banyan Tree, Wing Tai all seem to be holding within their respective triangles. However, similar to the STI, a break below its support, suggest that it is time to bail.
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