Gathering Strength

We have a more rationale opening this morning. The rush hour was more tamed. No rush, just a fast brisk walk for situational stocks. As always they slided down after the initial buying anxiety and excitement.

There was more widespread buying of pale blues. Market ended 12.92 points up to 1320.09.Volume was at 703 million shares worth RM1.65 billion. There were 584 gainers compared to 230 losers. Among gainers were Muhibbah putting on a solid 65 sen, Tongher, 50 sen, Gamuda;40 sen and Pelikan; 26 sen. Losers were F&N, LPI and Tenaga with a 10 sen loss each.

Let us see how the shadow portfolio did?

Surprisingly, Welli swam up to breathe in 14 sen to RM1.26 on heavy volume trading.Some big lots buying from 500 to 1000 is seen. something good is about to be announced by Dr. Rashid Tang in the near future. Will it go up in the afternoon? Only God knows.

Our two gazelles, RCE and JAKS spurted forward. They are short distance runners and have taken a rest because of volume buying by weak holders who are often ready to dump for a quick profit. Our gazelles has to run many short races to go up. They will fly with a bang like Pegasus when good news comes out. RCE added 2.5 sen to 93 sen and JAKS added 2 sen also to 93 sen.

Metronic is the proverbial tortoise. Slow ans steady lose the race most of the time-lah.. So, it managed to put on 0.5 sen to 19.5 sen. Many tired holders waiting for air.

The gaming stocks next. Genting and Resorts are next. Genting finished off best to add 10 sen to RM7.60 after a high of RM7.70 while Resorts stayed at the overnight level of RM3.96. NFO BJ Sports Toto decided to go downhill by 2 sen to RM4.94.

I hope the afternoon session will show some muscle.

Heartsong