Siesta Fiesta at the Bursa

Talk about a lazy afternoon. This is certainly one of them. The bulls are in full siesta, after yawning all morning. Fund managers bought what they wanted and have joined the big sleep. The only ones out are the little retailers; picking stocks on bargain hunting.

Index is retreating. At last look it was at 1,379.25, up 6.1 points. Volume of shares traded was 816 million with a total value of 1.3 billion ringgits.

Those counters which made gains are sliding. Those with losses stayed put. A slight tug of war here and there on the more popular counters. Gentings stayed at RM8.70 for a five sen drop. Resorts was off by 2 sen at RM3.74. JAKS stood at 79 sen. AMDB lost s sen while KPS stood statue-like at RM1.70. similarly RCE stood lifeless at RM1.01. BJ Toto meanwhile lost 10 sen while WMC was also motionless at RM1.08.

In an hour's time, we will go into the angel hour. If gains on popular shares are not pared down to substantially attractive levels, the angels may not come out to play. Then you will see the devils make swift shrift of those weak counters, marking them down notches lower as the market closed its hatches down.

Heartsong