As I have predicted, KLCI Futures is on its way to 1300, and with Maxis IPO Listing. Everything is very positive. News from US Market is very positive as most markets are consider in a Strong Recovery. This might last for another month or so, I am more cautious after US DJ Breaks 11,000.
The Maxis IPO will be listed on the 19th Nov 2009, it has bring in alot of Foreign Funds and the Telco Sector would more or less move. YTLE might be a good buy if you haven't manage to get the Maxis IPO.
.From the Futures chart, it shows a beginning of an small uptrend. If it pulls back, it won't be more than 20 points. opportunity to long and good to sell higher if US market goes up and our CI Futures Opens Gap up. I prefer to buy more when the market is lower and sell again when our CI Opens Gap Up.
Maxis IPO most likely will bring a short term rally into our KLSE, plus good news from regional markets & China Markets. Telco Shares are the focus for the coming two weeks.
Axiata & TM might face some profit taking as funds will sell them to buy Maxis. So the CI would be slightly mixed with more uptrend positive signal.
