Bird Eat Bird World


As portrayed in the photo, it's not only a dog eat dog world, it is also a bird eat bird world and now a man eat man world as the world equity markets slaughter the humans relentlessly.

The European markets was awashed with red ink and so were all Asian markets. How will Dow open tonight? Up, we hope. But aren't we dreaming, wishing and hoping again that the sub-prime and the yen carrying trade will quietly go away?

CI closed down 33.2 points to 1255.17. Volume was fairly good at 1.1 billion shares worth 2.1 billion ringgits. Gainers overcame losers 990 versus 58 only. Only blue chip to shine with only a 10 sen gain was Dutch Lady. An unknown counter called Ingress managed a 3.5 sen gain. Losers galore included Lion Diversified(90 sen); Muhibbah(70sen); UMW(70sen), Stemlife(52 sen) and Kulim(55sen).

The portfolio went to Greenland. Genting went down the hill to RM7.15 losing 40 sen, Resorts World lost 35 sen, BJ Sports Toto reversed gear to lose 12 sen and RCE dropped to 81 sen losing 6 sen. JAKS was down 4.5 sen to 82.5 sen while Metronic was a sen down to 17.5 sen. Welli was at RM1.04;losing 10 sen but buying was strong.

If Dow goes down tonight, there will be more blood-letting. If it gains or lose marginally, there may be some hope that the slide can be arrested. But do not expect market to be active and about. It still has to be be confined to bed for sometime.

Heartsong