It was a really bad day at the stock market. Fear built upon fear and mass selling began from the opening bell. It was really one big mess as the US sub-prime disaster caused two Australian funds to kaput! So Asian markets blood-bathed the entire day.
Despite the tragedy, depression and melancholia of losing gains and incurring loses, some investors were wise to pick up good counters that went down sharply as well as to take the opportunity to swap counters.
The market ended off its lows to close at 1355.38 points down a substantial 26.12 points. Volume was good at almost 2 billion shares valued at 3.5 billion ringgits. There was only a handful of gainers-144 while losers stood at 883.Gainers were RBLand up 65 sen, DFZ; 50 sen, Kossan 25 sen and KPS up 23 sen. Losers were BAT losing 75 sen, Tanjong;60 sen,Oriental;50 sen and Gamuda; 35 sen.
The portfolio has been modified. KPS will no longer be tracked. Instead Genting-CD will be tracked in its place. Let us look at how these counters performed.
Genting: lost 40 sen to RM8.15; an unnecessary loss of 40 sen. A good defensive counter and yet it was sold down the river. Volume was close to 7 million shares. Meanwhile, Genting CD closed unchanged at 0.35 sen. Resorts World showed resilience to close at RM4.10, down 4 sen on a huge trading volume of 28 million shares. BJ Sports Toto fell 6 sen to RM4.86 on a volume of 4.7 million shares. Elsewhere, Welli gained 5 sen to RM1.29 on a volume of 2.47 million shares. As the unveiling of the NCER masterplan is close at hand, I foresee Welli will move up. Exciting moments awaits.
RCE saw see-saw action and closed at RM1.03 down a sen on a volume of 7.7 million shares. Metronic closed half a sen lower at 22.5 sen on a trading volume of 2.4 million shares. JAKS did a disappointing tumble and rested at 82.5 sen for a 4 sen loss. Volume continues to be high at 9.7 million shares. Lastly, Taliworks dropped 7 sen to RM2.15.
Let us see how Dow trades tonight so that we can see how Bursa will possibly react on 30 July 2007, the day for the NCER masterplan unveiling by Prime Minister, Abdullah.
I hope local news will prevail on Monday to move the market up.
Heartsong
Despite the tragedy, depression and melancholia of losing gains and incurring loses, some investors were wise to pick up good counters that went down sharply as well as to take the opportunity to swap counters.
The market ended off its lows to close at 1355.38 points down a substantial 26.12 points. Volume was good at almost 2 billion shares valued at 3.5 billion ringgits. There was only a handful of gainers-144 while losers stood at 883.Gainers were RBLand up 65 sen, DFZ; 50 sen, Kossan 25 sen and KPS up 23 sen. Losers were BAT losing 75 sen, Tanjong;60 sen,Oriental;50 sen and Gamuda; 35 sen.
The portfolio has been modified. KPS will no longer be tracked. Instead Genting-CD will be tracked in its place. Let us look at how these counters performed.
Genting: lost 40 sen to RM8.15; an unnecessary loss of 40 sen. A good defensive counter and yet it was sold down the river. Volume was close to 7 million shares. Meanwhile, Genting CD closed unchanged at 0.35 sen. Resorts World showed resilience to close at RM4.10, down 4 sen on a huge trading volume of 28 million shares. BJ Sports Toto fell 6 sen to RM4.86 on a volume of 4.7 million shares. Elsewhere, Welli gained 5 sen to RM1.29 on a volume of 2.47 million shares. As the unveiling of the NCER masterplan is close at hand, I foresee Welli will move up. Exciting moments awaits.
RCE saw see-saw action and closed at RM1.03 down a sen on a volume of 7.7 million shares. Metronic closed half a sen lower at 22.5 sen on a trading volume of 2.4 million shares. JAKS did a disappointing tumble and rested at 82.5 sen for a 4 sen loss. Volume continues to be high at 9.7 million shares. Lastly, Taliworks dropped 7 sen to RM2.15.
Let us see how Dow trades tonight so that we can see how Bursa will possibly react on 30 July 2007, the day for the NCER masterplan unveiling by Prime Minister, Abdullah.
I hope local news will prevail on Monday to move the market up.
Heartsong
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