I change today at 4.24 ..

eventhough RM strong against USD at closing today, after 29th August (Bersih rally)... dunno what will happen.
Keep it for long term.

Learned my lesson many years ago when SGD 1 = Rm 2.47. I do nothing that time.

Sgd is slow that time. If want invest play it on British pound or USD

I wasn't able to get that rate (4.24) despite huge amount.. I'll try again tomorrow to pester my bank.

be confident on RM sikit

Just clear position tis morning
Awaiting MYR to head South

history might repeat...

although usd strong today, but myr still able to win.

This post has been edited by WhoCaresMyName: Aug 25 2015, 10:33 PM

http://www.themalaysianinsider.com/malaysi...hings-could-get

any comment?

TS predicted correctly 8 months ago

Can I predict too?

By Dec this year, should be RM 3.1 = SGD 1

this is not a prediction lo........... Now, already break 3.00

Some analyst said RM will head North now. Market correction to happen.
Fundamentally, nothing changed but panic selling might have give way to calm now.

Will see how tomorrow goes.

Aiyo... don't reverse yet.. I need to get a bid for my price.

Maybe need 4.40-4.35 in market to get real rate of 4.25 because of their spread. Darn banks are greedy.

tt has a worse rate.

sell usd to get 4.25, wait for 4.30.

crude still falling, possible this or next week.

now 4.213.




see how oil exporting country floated currencies jive brent?

rm is probably less correlated since oil exports is not that much.

still, if rm is put on the chart, probably similar pattern.



This post has been edited by AVFAN: Aug 26 2015, 02:32 AM

China market slump: Central bank cuts interest rates

China has reduced its main interest rate to boost growth in its economy.

The People's Bank of China cut its key lending rate by 0.25 percentage points to 4.6% in an effort to calm stock markets after two days of turmoil.

It is the fifth interest rate cut since November and will take effect on Wednesday.

http://www.bbc.com/news/uk-34052618

I suppose speculation overwrites panic selling

Yea and I lefted this thread for a long long time.

The legend is here

Heys, actually, I've already disposed all my shares early this year. I don't mind not making these few months cause parking everything in PBB's FD is safe and risk free. True enough, market went down by so much. I'm targetting 1k-1.2k in Bursa index.

Propertywise, 2017 will be good to buy, as 2013 was our peak and many of the launches are expected to be completed in 2016. However, I'll have to buy next year, might lose a bit but because I have no choice (due to personal reasons).

Let's just say, I got very strong reason to believe that market go down the next few years. Sorry, can't reveal my sources, but my contacts come from one of the largest investment banks in the world.

Anyway enjoy the bumpy road downwards. See you guys at 1k-1.2k.

This round recession will be caused by China and not USA. China is repeating what US did last recession in 2008. Lowering interest rates, lowering the required amount to hold in banks, etc. No doubt US cant raise interest rates because of this, but Malaysia is caught between lower exports to China and currency devaluation. So lower currency is good for export, but sucks if we spend it overseas. Whereas, if the country wants to strengthen the economy, they have to raise interest rates to stamp the MYR devaluation.

Currently, I'm seeing MYR reach 4.5 against the USD over a medium period. Dont let those temporary rebound distract you. Luckily I bought some Euro and USD in hard currency when USD was 3.7. At least my next year's holiday wont feel so painful.

No doubt you can short during this period, but I'll just watch from the sideline. My CIMB trading account locked ady cause I pull out my cash earlier this year and havent log in to play shares (due to foreseeable crash that happened lately) and recently when I login again, I forgot my password and attempted to login 3 times wrongly LOL.