Landslides and QuicksandBursa is as elusive as the girl above. One day sunny and full of hope. The next blow me down typhoon Dow, landslides and quicksand. The stock market is definitely not for those with weak hearts and feeble minds. But then the world is not made up of only the brave and the stout-hearted. We have the clods and the gormless. It adds colour and we have sometimes to pick up the pieces because of their silly antics. I am talking of those idiots operating the sub-prime mortgages.
In spite of the sell-down in New York on Friday last, Bursa performed not too badly. By noon close, fears started dissipating and buyers gained confidence to come in to shore up prices. CI was down 5.2 points to 1350.22, still above the psychological level of 1350. Losers outnumbered gainers 550 to 282. Trading volume was good approaching the billion mark (975 million shares)with a value of 1.9 billion ringgits.
The giant gainer was KPS; still running on high octane overdrive excitement,even though its only the tunnel package that is out for international pre-tender. It should subside to a level for the next game (possibly in three month's time). So expect the share price is slide on attrition selling in a day or two unless there are super news to be announced. I expect it to lose at about 25 to 30 sen. Other gainers include Green Packet, Tanjong and Shell. Losers aplenty saw Bursa down 40 sen, MMCCorp and Gamuda.
Looking at our portfolio of shares and the trading trends, I see the following:
JAKS, one hottie of a stock, riding on the KPS wave. It added 6 sen to 88.5 sen on a volume of 18 million shares. JAKS touched an intra-day of 90 sen. Heavy buying with huge blocks changing hands before the 11 o' clock witching hour. Subsequent trading were mostly retail action. I expect it to solidify at this level with a good possibility of it going beyond 90 sen this afternoon or tomorrow morning. Get ready to sell it it passes the ringgit mark.
RCE Capital, second highest turnover stock of the morning trading session (201 million shares). Went down a sen to RM1.02. I have a strange gut feeling that it will be ramped up this afternoon or tomorrow.
Genting-trading around the RM7.90 to RM8.00 level. Good support all morning. 15 million shares raded. Possibly Treasury buy-ins for just such an occasion. Resorts World ended 2 sen down at RM4.08. Volume at 8.4 million shares. Support level price, I suppose. BJ Toto, down by 2 sen too to RM4.84. Good stock . Why me, worry? (Alfred Neuman).
These stocks are causing some concerns. Metronic-Global. Obvious support at 22.5 sen even though a few loose ones got bought in at 22 sen. Welli-the push did not materialised with the launch of the NCER. We still have got one more day to go. So, not to fret.
Let us look forward to better things in the afternoon session.
Heartsong
In spite of the sell-down in New York on Friday last, Bursa performed not too badly. By noon close, fears started dissipating and buyers gained confidence to come in to shore up prices. CI was down 5.2 points to 1350.22, still above the psychological level of 1350. Losers outnumbered gainers 550 to 282. Trading volume was good approaching the billion mark (975 million shares)with a value of 1.9 billion ringgits.
The giant gainer was KPS; still running on high octane overdrive excitement,even though its only the tunnel package that is out for international pre-tender. It should subside to a level for the next game (possibly in three month's time). So expect the share price is slide on attrition selling in a day or two unless there are super news to be announced. I expect it to lose at about 25 to 30 sen. Other gainers include Green Packet, Tanjong and Shell. Losers aplenty saw Bursa down 40 sen, MMCCorp and Gamuda.
Looking at our portfolio of shares and the trading trends, I see the following:
JAKS, one hottie of a stock, riding on the KPS wave. It added 6 sen to 88.5 sen on a volume of 18 million shares. JAKS touched an intra-day of 90 sen. Heavy buying with huge blocks changing hands before the 11 o' clock witching hour. Subsequent trading were mostly retail action. I expect it to solidify at this level with a good possibility of it going beyond 90 sen this afternoon or tomorrow morning. Get ready to sell it it passes the ringgit mark.
RCE Capital, second highest turnover stock of the morning trading session (201 million shares). Went down a sen to RM1.02. I have a strange gut feeling that it will be ramped up this afternoon or tomorrow.
Genting-trading around the RM7.90 to RM8.00 level. Good support all morning. 15 million shares raded. Possibly Treasury buy-ins for just such an occasion. Resorts World ended 2 sen down at RM4.08. Volume at 8.4 million shares. Support level price, I suppose. BJ Toto, down by 2 sen too to RM4.84. Good stock . Why me, worry? (Alfred Neuman).
These stocks are causing some concerns. Metronic-Global. Obvious support at 22.5 sen even though a few loose ones got bought in at 22 sen. Welli-the push did not materialised with the launch of the NCER. We still have got one more day to go. So, not to fret.
Let us look forward to better things in the afternoon session.
Heartsong
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