Breakout Point detected in almost every index!

Leaded by KLCI, the stock market today clearly acting bullish and in fact, irrational in aggregate term. The situation is so similar to last year January's to February's market. While CNY new year effect is found correlated to a bull run, we can't conclude that the bull today and in the future (expectations) will be cause by CNY effect. Correlation certainly doesn't means causation. While the forces behind could be complicated, such as dropping of oil prices and possibly rushing of foreign capital to Malaysia after Thailand ask them to do so, it is more likely that (in my personal opinion) the bull is caused by the retailer's expectations on others' expectations that the stock market will give some Chinese Ang Pow to all the investors.

The newspaper have found carry out their responsibilities well too, by promoting and directing retailers' focus and attention to the market. News and tips are again found in forums and everybody are soft and happy in discussing about the market.

All these factors, again confirm to me that the short run could be highly probable an 2007 Ang Pow Bull., but the bull is now old and the market would collapse after the Ang Pow giving festival. Be early to join the party or else, better dun go to the party at all.