Suffering SargeantsLong Suffering. Stock market Siberia. Feel the listlessness and lethargy in the air.
That's range-bound trading for you. A peculiar situation has now developed on the Bursa. Thirty of the 50 blue chips in the bellwether will determine how the market will go. They set the tempo for a lazy waltz or a rousing lambada. So when the fund managers stay away, the market will be as dead as a cemetery.
Chartists have warned about this and we are right smack in the middle of this malaise. The blue chips led by Genting, the pipe piper is going south to the Arctic. The CI is plummeting like a plumb-line. This has frightened the retail players and they are also unloading their holdings. So with these all fears,real and imagined, working hand in hand, we have to rough it out somehow. So just sit tight and wait for the situation to change for the better.
CI was down another 12.2 points to 1359.27. Gainers were trounced by losers 578 to 346. KNM and Transmil continued their upward trend
Let us look at the performance of the stocks in our stable. Most went southerly along with the mood of the market. Metronic and Genting managed to stay put at their overnight level of 23.5 sen and RM8.45 respectively. BJ Toto went down 10 sen to RM5.10 while WMC went down 8 sen to RM1.59. KPS lopped off 2 sen to RM1.70 while JAKS and AMDB both eased a sen each to 40.5 sen and 79.5 sen respectively. RCE also lost 2 sen to RM1.08
Amidst this lethargy, a brief respite came in the form of Resorts which bucked the trend adding 6 sen to RM3.64.
The only way for this market to go up is for it to really go down to the pits so that the shares will be attractively priced again. So be prepared for falls on the next two days of this week.
Heartsong
That's range-bound trading for you. A peculiar situation has now developed on the Bursa. Thirty of the 50 blue chips in the bellwether will determine how the market will go. They set the tempo for a lazy waltz or a rousing lambada. So when the fund managers stay away, the market will be as dead as a cemetery.
Chartists have warned about this and we are right smack in the middle of this malaise. The blue chips led by Genting, the pipe piper is going south to the Arctic. The CI is plummeting like a plumb-line. This has frightened the retail players and they are also unloading their holdings. So with these all fears,real and imagined, working hand in hand, we have to rough it out somehow. So just sit tight and wait for the situation to change for the better.
CI was down another 12.2 points to 1359.27. Gainers were trounced by losers 578 to 346. KNM and Transmil continued their upward trend
Let us look at the performance of the stocks in our stable. Most went southerly along with the mood of the market. Metronic and Genting managed to stay put at their overnight level of 23.5 sen and RM8.45 respectively. BJ Toto went down 10 sen to RM5.10 while WMC went down 8 sen to RM1.59. KPS lopped off 2 sen to RM1.70 while JAKS and AMDB both eased a sen each to 40.5 sen and 79.5 sen respectively. RCE also lost 2 sen to RM1.08
Amidst this lethargy, a brief respite came in the form of Resorts which bucked the trend adding 6 sen to RM3.64.
The only way for this market to go up is for it to really go down to the pits so that the shares will be attractively priced again. So be prepared for falls on the next two days of this week.
Heartsong
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