Recent selloff in KLCI...

Hey, many are caught in surprise by the recent selloff and were scrambling to cover the loss for those with margin... sigh what an ironic situation for the government?
Huge selloff on the week the government are promoting itself to investors worldwide? come on, its a total disgrace and outright lack of trust in the government's GTP, ETP that triggers the selloff, whatever plans it has, the investors just don't give a shit.

Well there is also that the fear of uncertainty due to the impending Sarawak election this coming Sat and many are saying due to the huge crowd turn out for PR compared to BN, it signals the folks in the state is ready to move on after decades of poverty and mediocre improvement in lifestyle and basic infrastructure of the largest state in the country.

So every election the stocks go down, and there is no surprise for this round either. Question is what difference does it make? We survived the Japan earthquakes and mid east unrest pretty well and do you expect me to believe that only lately the external effect becomes more prominent?! Fuck la, its the increase in risk aversion due to local election...

My advice, BN is not likely to lose the state by having majority but its not going to be the same... What does that got to do with the stocks in KLCI?? Well, some stocks might be affected, CMSB and some others ;) ... other than that, life goes on...

So should we sell, hold or buy? My take is we buy during these silly selloff. Bear in mind only about 25% of the stocks in KLCI is worth the effort buying. The rest are just craps.