Major support level of KLCI breaks
The KLCI drops in at 1,447 before lunch today breaking the major support level of 1,460 points. The KLCI opened a sluggish sub-1,460 this morning. The fall is lead by banking counters and blue chip counters. Banking stocks include CIMB which dropped about RM0.30 today. Loosing counters lead the gainers by about 600.
Major predictions say sell. I think they are right, if you are holding stocks now, it's time to sell. However, if you are holding mutual funds for medium-term investment, maybe hold them till next year before further action.