Apr 27

2009

Markets catch the flu

Filed Under (Finance Help) by Admin on 27-04-2009

No, this time it is not the bird flu or the flu markets get when US sneezes. The pigs who are normally slaughtered in the markets controlled by bulls and bears are having their revenge. The swine flu’s death count in Mexico grew to about 150 people from 100. The stocks of airlines, hotels and other tour related companies suffered losses in the US. Starwood Hotels and Resorts Worldwide Inc fell 11 percent, cruise operator Carnival Corp. fell 13.5 percent and Delta Air Lines Inc. dived 14.3 percent. However, pharmaceutical companies see marginal increase. GlaxoSmithKline gained 7.6 percent.

The Dow fell 51.29 points , or 0.6 percent, to 8,025.00. Before the US market opened, stocks in the rest of the markets were also lower. Read the rest of this entry »

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Apr 27

2009

Carnival of Personal Finance #202 - The Lao Tzu Edition

Filed Under (Investor News) by Admin on 27-04-2009

Lao Tsu writing the Tao Te Ching on bambooLao Tsu writing the Tao Te Ching on bamboo paper

[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]

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Apr 27

2009

Kuala Lumpur Composite Index: Time for a pullback

Filed Under (Finance Help) by Admin on 27-04-2009

Trading volume has increase tremendously with volume exceeding RM1 billion shares daily last week. Last weeks daily average volume was RM1.49 billion shares, 80 percent higher than the previous corresponding weeks average. On Thursday, the trading volume was almost RM2 billion. It may look good when the price trend is supported by strong increasing volume, but a jump or extreme increase in volume with smaller upward movements in the market may signal an end of a rally.

Technically, the down trend correction has extended after it broke the 940 points level extension should last until 970 points. The short to long term 30 to 90 day moving averages have started to increase but price is currently at the 200-day moving average which is currently at 963.30 points. The 200-day moving average is normally used as an indicator to indicate the long term trend by long term hedge funds. Therefore the KLCI is currently at a long term resistance level and we should see a down movement next week.

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