Market Commentary 11/12

Despite the volume further decrease by 7.5%, the first time I saw the winners and the losers about 50% on both side after a few days of downtrend. The market activity is extremely quiet during the middle session until about 3:30pm, it was getting more active. The Finance, construction and property index seem to rebound from here. The market still consider as consolidation and minor correction for certain stocks. There are a few winners today
· The Affin family - Affin, Affin-WA and Affin-CA
· Tchong - volume increase, looking to retest 2.70.
· ENG - volume increase, broke 16 months new high at 1.46. Up 13%
· PRDUREN - a low liquidity stock. Today volume increase and price up 27%
The KLCI is still supported by 1256 level, a 23.6% Fibonacci Retracement. It was resisted by 10 days EMA 1263.5. The outlook of the European market especially Dax and FTSE100 looked bullish biased today; hopefully the sentiment will lift up the Dow Jones tonight.

LCL is the big loser today. The stock price is getting cheaper and cheaper everyday. It broke a few major support levels and closed at historical low at 0.22 today. As you can see, I always alert our investors do not average down. The risk is getting higher and higher if you do averaging down. Who know this stock will suspend and then de-listed one day? Then all your hard earn money will drain into the water. So it's the best pratice to enforce your cut loss policy in your trading plan. You won’t get into the trap if you have a cut loss policy. Please see the LCL’s chart below.



Note: If I spot any potential stock, I will post it during the weekend. Please come to join our forum. You can ask question or provide good inputs and opinions. We have a few guru here can answer your question.