As expected, the Nikkei reacted to last Friday's US stock market dip. The next is Hong Kong Stock Market. KLSE or Bursa is painting another picture. It is rotating its bet on the hot sector. Today's hot item: the chips.
Intel's hot earnings results were finally appreciated in Malaysia whereas the rest of the world already celebrated its success last Friday.
With declining interest to rubber, Malaysians are chasing a new sector, the chip sector. Most of the chip related counters are extremely high in PE. Those chips are not cheap.
People just dump their rubber and jump into chip obviously regardless of they are very expensive. To name a few, IPOWER, PENTA, REDTONE, ASIAEP, IRIS, ...
This is a very common phenomenon as people are rushing to chase after easy profits. It is just like in a super departmental store or mall. People rush to counters wherever there is a impromptu sales (discount) or lucky draw. The crowd is running around very happily like there is free food to give away. This is the time everyone thinks money does fall from the sky.
I was setting a few queues to buy something. Looks like it is not my cup of tea today as I don't like to run around chasing for free food. I believe in hard work and real profits. Young people should have the energy to chase around. I don't belong to that age group anymore.
Monday, January 18, 2010
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