US markets posted a biggest weekly gain in 5 years last week. Banks, builders and retailers helped lead gains. The Dow is expected to climb to test the12,900-13,100 level. It is a bit difficult to see right now if that level would break. I still believe that there is somemore downside to come from those levels. Best, I believe that it would be to take profits or cut losses around those levels.
STI could rebound this week to 3,268 followed by 3,325.
KLCI to rise to test 1,417-1,420 followed by 1,435. SapuraCrest or its warrant looks interesting today. It could run as it has a very high beta to the market. The stop loss for SapuraCrest is RM1.45. The upside target is RM1.90. So, it is a tradable option for this short run. :)
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