Greenspan, Jim Roger & many increasingly forecasted a crash in the market sometimes soon. However, FED is confidence that things are in control and continuous reduced its bond purchase further. We are always a firm believer that too much money printed. Things not looking good but is not this year.
We believe the bull has not stopped and will go further from here to at least mid of next year if there is no unforeseen circumstances. On KLCI front, we have been long on dip and covered back with 5 to 10 ticks profit. We will continue to take this opportunity to buy if market pressured and long spot month contract. But we try not keep any contract open to next day. Immediate support at 1850 to 1860 and strong resistance at 1890.