These words of him should provide many peace of mind, coupled with his latest acquisition move on
Wm. Wrigley Jr. May 3 (Bloomberg) -- Warren Buffett, chief executive officer of Berkshire Hathaway Inc., said the global credit crunch has eased for bankers, and the Federal Reserve probably averted more failures by helping to rescue Bear Stearns Cos.
``The worst of the crisis in Wall Street is over,'' Buffett said today on Bloomberg Television. ``In terms of people with individual mortgages, there's a lot of pain left to come.'' Buffett was interviewed before the Omaha, Nebraska-based company's annual meeting, attended by about 31,000 people.
Backed up by 15cent dividends.
Do you buy this theory? Whether or not, hard to ignore. Smart Money leads, Dumb Money follows. Something never changes.
KLCI: Some fundamental reason (CPO) dragged down the 2/May composite index as I suspect some institutes were selling big blue like IOICorp and Sime Darby. Pure TA says it has some more room to come down :( 1264 is the final base line or else KLCI will drop back to down trending :(( Global markets' sentiment is another story though..
Eden: Still looks ok for me to re-enter. My guess is it is under major accumulation. Distribution is unlikely, looking at the above average volume with green closing of late. Remember, KLCI sentiment prevails.
Just heard this news. Shocking indeed. Need to scout around for more information. Stay tuned.
(Update: OK, it is on all main stream medias already)
This weekly chart scared the shit out of me when I first look at it. Then I scrutinized it and found the Head volume was higher than it should be to fit the pattern of H&S. I can only hope I am right, because I have taken my long position in unit trust. Meanwhile, tomorrow KLCI will need to close strong for a good weekly chart.
Will see if it can get strong support at 800 level. If it move back up again after hitting 800 level, I will join the gold rush. wa ha ha ha.
Words borrowed from Dr. Alexander Elder:
Trading is so exciting that it often makes amateurs feel high ...Nobody can get high and make money at the same time.
