What is the top of KLCI index? Sincerely I do not know and nobody will know.
But what I see now is the bull run still there, and there are more hot money to flow in.
Recap back to year 1997 and year 2008, what makes the market crash? Is it Soros and US subprime mortgage crisis cause it? Theoretical yes. Actually those causes are just the starting point, the real reason is hot money flowing out. After Soros attack on Asia currency, most of the people panic and withdraw back their money back to their own country and same as US subprime mortgage crisis. They scare and their own country need money to survive, so they retreat. Once money flow out, then definitely market will come down because no more money to support the market anymore.
So what do you see on current market?
Anything mega news happening now? Do their own country need money to withdraw back?
All the answer is NO, and further more, US is printing more money now, so where the money will go? It is either property, share market or government bond.
So I am confidence KLCI can go higher from now but of course do not chase high. Buy high sell higher is not my game, this game let us give those smart person to play it.
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