Still Weak to SprintAs expected, they all jumped in this morning when Dow went positive on 93 points. After the morning rush hour, the prices started dropping off.
The smart ones were those who went into the market during rush hour traffic last Friday morning and yesterday morning. They were the smarty birds which got the goody worms. Any technical rebound on counters which went down real low, has been achieved by 9.30 am. The only exceptions are situational counters. The overspill from yesterday's buying of water-related stocks pushed these counters way,way up. But it was unsustainable. By 12.30 they fell by the wayside, some below yesterday's prices.
Market rose 15 points to 1367.38. Gainers were ahead of losers 521 to 340. Digi lead the gainers with a 90 sen gain; followed by VADS with a 70 sen advance, IOIPROP and KKB. Losers lost marginal. Lion Diversified lost 15 sen, TSR Capital; 15 sen and LPF 12 sen.
Portfolio stocks. I have tracked their volume profile and these are my findings.
Welli-Multi Corporation-amidst the small buyers and sellers, the collectors are back, picking lots of 50 to 100 lot sizes. Largest transaction was 200 lots. The average size is 50-100 lots. I smell a rat and believe a big behemoth is about to arise. So watch out for this counter. At noon close, it lost 2 sen to RM1.26 on a volume of 374,200 shares.
BJ Toto-as expected it just swam easily back to RM5.00. In a short time it will be back to RM5.50 level. Just you watch. Volume was 1.3 million shares.
Metronic could not hold back the tide and so it went down by 0.05 sen to 22.5 sen. No panic selling or manic buying, though . Small volume of 516,000 shares done.
Resorts World-resilient; good support at RM4.18. Huge lot sizes ranging from 500-1000 lots. A couple of 3000 lots done as well. Volume traded is 5.7 million shares.
RCE Capital added a sen to RM1.04 on a volume of 3.4 million shares. Firm collection going on. Big lot sizes from 500 to 4,000 lots.
JAKS started well to RM1.13 but fell back on profit taking to close up only two sen to RM1.05. Good price level to stay put while consolidation continues. Third highest volume leader. Morning blocks were humongous,ranging from 500 to 5000 lots. Good to stay here for a while for weak holders to unload.
Heartsong
The smart ones were those who went into the market during rush hour traffic last Friday morning and yesterday morning. They were the smarty birds which got the goody worms. Any technical rebound on counters which went down real low, has been achieved by 9.30 am. The only exceptions are situational counters. The overspill from yesterday's buying of water-related stocks pushed these counters way,way up. But it was unsustainable. By 12.30 they fell by the wayside, some below yesterday's prices.
Market rose 15 points to 1367.38. Gainers were ahead of losers 521 to 340. Digi lead the gainers with a 90 sen gain; followed by VADS with a 70 sen advance, IOIPROP and KKB. Losers lost marginal. Lion Diversified lost 15 sen, TSR Capital; 15 sen and LPF 12 sen.
Portfolio stocks. I have tracked their volume profile and these are my findings.
Welli-Multi Corporation-amidst the small buyers and sellers, the collectors are back, picking lots of 50 to 100 lot sizes. Largest transaction was 200 lots. The average size is 50-100 lots. I smell a rat and believe a big behemoth is about to arise. So watch out for this counter. At noon close, it lost 2 sen to RM1.26 on a volume of 374,200 shares.
BJ Toto-as expected it just swam easily back to RM5.00. In a short time it will be back to RM5.50 level. Just you watch. Volume was 1.3 million shares.
Metronic could not hold back the tide and so it went down by 0.05 sen to 22.5 sen. No panic selling or manic buying, though . Small volume of 516,000 shares done.
Resorts World-resilient; good support at RM4.18. Huge lot sizes ranging from 500-1000 lots. A couple of 3000 lots done as well. Volume traded is 5.7 million shares.
RCE Capital added a sen to RM1.04 on a volume of 3.4 million shares. Firm collection going on. Big lot sizes from 500 to 4,000 lots.
JAKS started well to RM1.13 but fell back on profit taking to close up only two sen to RM1.05. Good price level to stay put while consolidation continues. Third highest volume leader. Morning blocks were humongous,ranging from 500 to 5000 lots. Good to stay here for a while for weak holders to unload.
Heartsong
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