Brokeback Market?The market slided another 10.1 points to finish easier at 1,366.99. This trend, though unnerving is good. Bitter medicine, once swallowed, brings much needed relief.
The way those 30 to 50 gilt edged blues have been manipulated to push up the CI and to make monkeys out of genuine investors is so artificial and had to be stop sometime. The losses yesterday and today are just refreshingly welcomed. I am happy to be contrarian for once. I hope the market will go down further tomorrow by another 10 points or so. Then, I believe buyers will come in.
The number of shares traded was 1.5 billion with a value of RM 18.53 billion. Losers thumped gainers 651 to 282. Gainers saw the likes of Kramat, BAT and SP Setia while losers included Equine,Bursa, DIGI and Transmile which lost 52 sen. The volume-value indicator, though on the lower side, is reflective of the market i.e. the lower the market, the lower the volume trade and the lower the value. My reading is the market remains healthy.
Let us look at how the stocks performed. Interestingly, Genting stuck up like a sore thumb by picking up 15 sen to RM8.20 on a volume of 7.6 million shares. Metronic Global, true to form,added 2 sen a day before the AGM/EGM tomorrow. The rest of the stocks headed south. KPS lost 4 sen to RM1.72; RCE gave up 3 sen to RM1.01, Resorts dipped 6 sen to RM3.32 while BJ Toto was down 10 sen to RM5.40. Jaks was piped down the river and lost 3.5 sen to 77 sen. AMDB lost its groundswell and gave up 2 sen while Welli lost 9 sen to RM1.48.
Some remarks. Welli will fluctuate in price in a similar fashion to Equine. Until the rumours die down, it will spike up and down. So these shares are not for short term speculation. They are for holding until their true value are realized when the rumours of corporate takeovers or restructuring becomes fact.
Heartsong
The number of shares traded was 1.5 billion with a value of RM 18.53 billion. Losers thumped gainers 651 to 282. Gainers saw the likes of Kramat, BAT and SP Setia while losers included Equine,Bursa, DIGI and Transmile which lost 52 sen. The volume-value indicator, though on the lower side, is reflective of the market i.e. the lower the market, the lower the volume trade and the lower the value. My reading is the market remains healthy.
Let us look at how the stocks performed. Interestingly, Genting stuck up like a sore thumb by picking up 15 sen to RM8.20 on a volume of 7.6 million shares. Metronic Global, true to form,added 2 sen a day before the AGM/EGM tomorrow. The rest of the stocks headed south. KPS lost 4 sen to RM1.72; RCE gave up 3 sen to RM1.01, Resorts dipped 6 sen to RM3.32 while BJ Toto was down 10 sen to RM5.40. Jaks was piped down the river and lost 3.5 sen to 77 sen. AMDB lost its groundswell and gave up 2 sen while Welli lost 9 sen to RM1.48.
Some remarks. Welli will fluctuate in price in a similar fashion to Equine. Until the rumours die down, it will spike up and down. So these shares are not for short term speculation. They are for holding until their true value are realized when the rumours of corporate takeovers or restructuring becomes fact.
Heartsong
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