Leave BUMI buy ADRO

IHSG slumped AGAIN n again today it going weaker 13.861 points (0.54%) to the level of 2564.554. ABSELUTELY IT IS IN THE STRONG RESISTANCE check here. Hope tomorrow will go up again.

Today I discuss mining sector. From august 09 till this January 10 mining only moves up and down. As I say sideway. Coz mining sector rule IHSG, it also sideway too.

When you look at the picture.

1.Mining candlestick now move below 2253 next is 2081 point.

2.MACD show trend now is BEAR, coz create DEAD CROSS.

3.Stochastic, reach 20% stock CAN BE REBOUNDED IN THE THE NEXT 2-3 DAYS.

Fromm my opinion Bakrie company didn’t take position as a BULL LEADER in mining sector again. BUMI resources MAY have high volume of transaction but it has little progress. When you look at price of PTBA and ITMG, in 2007-2008 they fall and now they back again in the TOP. Do not hope to much at BUMI.

New HOPE is ADRO. PT Adaro Indonesia Tbk (ADRO) target will supply 11 million tons of coal for domestic needs in 2010. Adaro is the largest major supplier of coal compared with Pt Bukit Asam, 24% coal produce from ADRO. Now it’s the time to buy that stock. And sell it next year. Leave BUMI buy ADRO.