Tuesday, July 26, 2011

Ignore the noise

First, Axiata is looking good from trading point of view, have a breakout with increasingly higher volume. I was away from the trading screen today(you know where am I-lah, outside the country again). And I missed out the action. But there is always tomorrow to catch up. So, don't have to ask me whether it is time to buy.

Secondly, ignore the dam debt ceiling cries. If we really think those politicians will want to shut down their country, then I think we are really stupid. It's a diversion. If the market want to sell off, it will not be droping like pondan. Thirdly, with 3 days wind, 2 days rain kind of see-saw up and down, is exactly what investors/pundits need to learn -- learn to ignore. The market is still in a trading range.

Fourth, I have been hearing more and more professionals think the market is still cheap. Trading at 12-14X is way off from the market peak that typically will sell for 20X. The other sign of market top is consumer confidence normally is 9 million miles outside an orbit. Again, we are far from it.

After this week, I hope to stay put in Malaysia at least for 2-3 weeks. Until then, happy trading.

No comments: