How do I see the market today? 10-Dec-2010

US market ended flat with DJIA down 2.42p to 11370.06p while S&P gained 4.72p to 1233.00p.

What happened in US market?

According to Reuters website, it says "U.S. stocks edged up on Thursday, with the benchmark S&P 500 closing at a two-year high, a trend investors expect to continue through the rest of the year... Investors loaded up on bank stocks, which have risen 12.4 percent for the month. Late in the year, winning positions often attract buyers seeking to improve fund performance in a practice known as window dressing."(Click on this link for the full news: Reuters US Market News)

My view:

Out of many news from US, the most relevant one is claims for "jobless benefits fell more than expected" which should be positive for Malaysia market. However, today is also Friday in which some investors may choose to take profit first instead of carrying position throughout the weekend. Overall, I think today should be a slightly bearish market for KLCI.

Stocks that I NO LONGER find attractive:

1. DRBHCOM (Sell on bad news, please read my previous post)