20081101 Last Monday, somebody I knew called me up and said: "The market is finished, it is going to 500, and you will be able to buy back Maybank at RM3.00. IOICORP is in deep shit and is gone."

Well Monday IOICORP and Maybank hit lows of RM2.06 and RM3.74 respectively. On Friday's close the prices were RM2.77 and RM5.35 respectively. Whenever there are extreme views pervading the markets, you know something is going to snap back either bullish or bearish.

Another acquaintance of mine went to buy IOICORP and today told me: "This is the most money I have made on a stock, still within contra period!" He has not sold out yet and asks my opinion on the stock. Well from the weekly chart we can see a previous low around RM3.70. That is now the resistance level, and I have a sneaking suspicion it will go up there to test that level.

Read this write up in Business Times online. Has some very good advice for those who have the view that this is the once in 10 year opportunity to get invested.