Mr Market is upset recently due to oil prices are kept on dropping to below $55. Latest announcement made by OPEC that they would not cut the production even the oil prices drop to $40. As a result, the oil prices plummet and upset the world stock market.
KLSE has dropped ~12% from the historical high of 1895 to 1673 and likely continue to drop until the oil price is stabilised and panic is over. But the sellout will be limited as 70+% of market is held by local institutions funds.
With the oil is continue to heading south, utilities sector will be benefit the most.
Most of my stocks holding have dropped to 52 weeks low and in bargain zone.
It is good that Mr Market is on Christmas Sale now! Time to shop for bargain value stocks!
This week bough another 200 units of AEON at RM2.75 with total accumulated of 2500 units.
My total stock investment in year 2013 was RM29,813; about average of RM2,484 per month.
This Year, I sold out all of my unit trust funds and reinvest some of the capital back to stock market. Since the current market is under major correction, it is time to entertain the Mr Market to keep him happy. And also oil price is keep on dropping (& hopefully it would stabilise at $65/bbl) may be a good sign to cool down the current inflation rate (>3%) in Malaysia. Buy and Hold strategy may work better during this bargain periods. Just my 2 cents. Besides that most of the world markets on the historical high.
Some shares under my watch-list is close to bargain zone this week and some dropped to 52 weeks low. So I bought 300 and 500 units of AEON and PWROOT at RM3.15 and RM1.45 respectively. Total units accumulated for AEON and PWROOT are 2300 and 3000 units respectively.
The KLCI composite index has fell from the all time high of 1895 to 1767; ~7% dropped due to bad economic news and bad rating from IMF etc.