A Consolidation No LessIt was better than expected. As the market closed, there were less bargain hunting as the buyers took the seller's quotes. So we have less loses on the penny stocks and second liners.
This is a good sign as it points to slow consolidation and some optimism that tomorrow might just be a better day. Blue chips were not that badly chipped off as well. CI closed at 1377.48 for a 4 point fall. Volume increased quite healthily to 1.24 billion shares; valued at RM2.01 billion. There were 356 gainers compared to 539 losers.
Leading the gainers with reduced gains were Nestle,Muhibbah,LCL and IJM while losers were Tanjong and BAT.
Portfolio stocks:
KPS finished unchanged at RM1.73. Good since it has clawed back to its overnight level with 2.05 million shares traded.
JAKS finished unchanged as well after grabbing back morning losses. Volume is at 3 million shares.
RCE lost a sen to RM1.03 on volume of 1.94 million shares.
Genting remained unchanged at RM8.45 on volume of 3.3 million shares.
Resorts lost 8 sen to RM3.88 on a volume of 23.9 million shares.
BJ Toto lost 10 sen to RM5.10.
Welli-lost 11 sen to RM1.42.
Metronic-Global lost 0.05 sen to 0.245
AMDB was at its overnight level of 40.5 sen.
If market returns tomorrow, expect second liners to move up on heavy buying especially those involved in the consumer refinancing, waterplay and in NCER. The counters to watch will be RCE, KPS and JAKS and Welli.
Resorts and Genting may also start their ascent northwards.
Heartsong
Leading the gainers with reduced gains were Nestle,Muhibbah,LCL and IJM while losers were Tanjong and BAT.
Portfolio stocks:
KPS finished unchanged at RM1.73. Good since it has clawed back to its overnight level with 2.05 million shares traded.
JAKS finished unchanged as well after grabbing back morning losses. Volume is at 3 million shares.
RCE lost a sen to RM1.03 on volume of 1.94 million shares.
Genting remained unchanged at RM8.45 on volume of 3.3 million shares.
Resorts lost 8 sen to RM3.88 on a volume of 23.9 million shares.
BJ Toto lost 10 sen to RM5.10.
Welli-lost 11 sen to RM1.42.
Metronic-Global lost 0.05 sen to 0.245
AMDB was at its overnight level of 40.5 sen.
If market returns tomorrow, expect second liners to move up on heavy buying especially those involved in the consumer refinancing, waterplay and in NCER. The counters to watch will be RCE, KPS and JAKS and Welli.
Resorts and Genting may also start their ascent northwards.
Heartsong
2 comments:
We all know that high risk is correlated to high rewards in the stock market...So, these extremely risky stocks, could be the big payday. But first, you must study the market ins and outs as well as doing research on all possible investments. I would recommend starting by taking a look at this report i found on here that helped me a few weeks ago...what is up with all the pictures of chicks on here anyway?
Investing in Penny Stocks with Pink Sheets
-cheers
I have actually look at all these stocks from the reports that appears in the local dailies. I am tracking them to test my stock picking capability. I do not expect to be correct half the time.
So far I have already screwed up advising on Genting, Resorts and Welli.
Genting and Resorts are okay.
RCE is relatively safe because loans to civil servants are deducted at salary source.Goldman Sachs has also invested in this counter.
JAKS just went into the black.
AMDB just went black as well.
KPS is dividend paying and is the Selangor Government's Khazanah Holdings and also implementation arm.
Welli is also profit making and is geared to play a high profile role in the Halal Hub Project in NCER
to be announced at the end of the month.
Metronic has just transferred itself to the main board and is securing more telemetry projects with Indian airports. It has also a presence in the Middle-east. Apart from that, it is also moving into health-care IT.
The chick pictures are just ornamental;values aside.
Thanks for the 'penny stock' article reference and for visiting my blog.
Heartsong
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