Monday, June 15, 2009

Stock Recommendations by CIMB

Went to a market outlook talk by CIMB over the weekend. In nut shell, they started with a 4 slides disclaimer which says that they are not liable or responsible for anything they were presenting. Just spend less than hour there, and managed to get their top 5 recommended stocks i.e. AirAsia , Resorts, Gamuda, Lafarge and MRCB. The last 3 stocks are mainly construction related stocks which are supposed to benefit frm the Gov't stimulus plan. Sectors to avoid are Plantation, Insurance, Shipping and Tobacco. Hmm, just checked the directions of these 5 stocks today and only Lafarge gained while the rest were losers. Hard to predict which way the direction of the market since according to their technical analysis, the market is overbought, but on the other hand there are still buying support whenever there is a selloff, mainly due to large cash still parked outside ( mainly unit trust $), that are nibbling whenever there is a dip. Don't put too much faith in the market, as it has a mind of its own. One important rule, is " don't lose big and cut your losses if the market starts going south."

No comments:

Post a Comment