Thursday, July 19, 2007

A Soulless Market


Bursa made a mild return to positive territory this morning; adding 3.3 points to move the index to 1374.93 at the morning close. The share volume was not encouraging at 530 million shares worth RM1.9 billion ringgits. Losers swarmed gainers 473 to 313. Leading the gainers were Nestle, WCT, LCL, Bursa and Commerce, The losers were Dutch Lady, Green Packet and SAAG and BAT.

On to the portfolio. Clawing back was seen in RCE which took back its loses yesterday; adding 4 sen to RM1.03. Welli added 1 sen to RM1.39 while Resorts added 2 sen too to RM3.84. Diving is Genting at RM8.15; down by another 10 sen, At their overnight level were JAKS at 79.5, Metronic at 0.235 and KPS at RM1.72. AMDB, however, lost 1 sen to 38 sen. Looks like the interest and appetite for this stock has dissipated.

Another counter to watch will be Taliworks. I will put a watching brief on the counter as Goldman Sachs has just bought into some warrants or such on this counter. Will be more definite on this after some R&D.

So right now, we can sing out the blues; ever soulless and wrenchingly melancholic while we await the creeping hours until the final bell rings out for this trading day.

By the way the market is performing;even the gods will cry for those who played and hold as well as those who pun and lost heavy in this listless market.

Condolences all round....

Heartsong




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