Dow MadnessI think we are gonna have one big bloodbath today if we continue to take the cue from Wall Street. The sub-prime mortgage problems are old hat. As the issues evolved, refinancing will occur.
I hope Bursa will not catch the cow disease from Dow. Otherwise all our stocks will be culled. But my hopes are in vain. Market slumped on the opening and stocks crashed.
To make a long story short, before 4 pm, the CI was down 31.4 points short of sliding below the 1350 point level. If that happens, then more funds will be selling to safeguard profits. 1.5 billion shares changed hands. Value was 1.82 billion. Only 89 counters went up compared to 958 which went south. The handful of gainers ere RBLand with 65 sen gain; RPower and DFZ. We need not mention losers, most are.
The portfolio was ravaged save for Welli and KPS. Welli was oversold and so could not really go down too much as there is no one who actually profited. Most bought Welli shares at about RM1.70. KPS shot up to RM2.20 but I would not know at what price it will sustained now that the news of the international pre-qualification exercise for the water transfer project has been announced. As KPS has gone beyond RM2.00, I will also stop tracking this stock.
Genting is fighting hard to stay at the RM8.15-RM8.20 level but its CD is tenacious staying at RM0.03 sen. I will now track Genting-CD until its expiry on 27 September 2007.Resorts is holding well at RM4.08 falling some 6 sen. RCE was pussyfooting around the RM1.00-RM1.02 level while JAKS is shuffling about between RM0.82- RM0.84 sen. Metronic is being supported at 22 sen. If it breaks below 20 sen, then its buying time
BJ Toto is treading around RM4.80 for a 12 sen loss while Taliworks lost 8 sen to RM2.14.
I will post on the closing after this.
Heartsong
I hope Bursa will not catch the cow disease from Dow. Otherwise all our stocks will be culled. But my hopes are in vain. Market slumped on the opening and stocks crashed.
To make a long story short, before 4 pm, the CI was down 31.4 points short of sliding below the 1350 point level. If that happens, then more funds will be selling to safeguard profits. 1.5 billion shares changed hands. Value was 1.82 billion. Only 89 counters went up compared to 958 which went south. The handful of gainers ere RBLand with 65 sen gain; RPower and DFZ. We need not mention losers, most are.
The portfolio was ravaged save for Welli and KPS. Welli was oversold and so could not really go down too much as there is no one who actually profited. Most bought Welli shares at about RM1.70. KPS shot up to RM2.20 but I would not know at what price it will sustained now that the news of the international pre-qualification exercise for the water transfer project has been announced. As KPS has gone beyond RM2.00, I will also stop tracking this stock.
Genting is fighting hard to stay at the RM8.15-RM8.20 level but its CD is tenacious staying at RM0.03 sen. I will now track Genting-CD until its expiry on 27 September 2007.Resorts is holding well at RM4.08 falling some 6 sen. RCE was pussyfooting around the RM1.00-RM1.02 level while JAKS is shuffling about between RM0.82- RM0.84 sen. Metronic is being supported at 22 sen. If it breaks below 20 sen, then its buying time
BJ Toto is treading around RM4.80 for a 12 sen loss while Taliworks lost 8 sen to RM2.14.
I will post on the closing after this.
Heartsong
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