FBM KLCI...Is This It?

FBM KLCI...Is This It?: "As I prepared to write on my personal takeaways from the tricky market we’ve been through in 2009, in anticipation of a rather quiet start to 2010; the “monkey” in this market shows its cheekiness yet again by springing a surprise with a bright start to cheer the new year.

This prompts me to postpone the publishing of this takeaways article to make way for an update of market outlook which demands my urgent attention for the benefit of my readers.

My “isolated” optimism thus far seems to have garnered more support recently and with this good showing, the next million-dollar question for investors will be “Is This It…The Bull Market That Alpha Chart Has Been Preaching About So Far?'

FBM KLCI has a solid breakout today on a massive volume, coupled with the confirmed positive technicals; all these make the case for a potential full-blown uptrend which will spread across the exchange.

The bears must be tempted now to re-enter the market even though there is no change to the fundamental aspects (with no major news flow too) of the market as we are in-between the previous and upcoming earning seasons. Technical analysis over-rules fundamental analysis in instances like this.

Again, Alpha reiterates the fact that Dec-Feb period holds more promises for the market in general. Citi Investment Research’s work confirms this, particularly for Bursa Malaysia…

Nevertheless, you may still have some time to catch the bulls over the next few trading days. Alpha hopes to reverse the title of this article to “This Is It” soon…

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