Nowhere MarketThe afternoon lulled on as stock prices moved down shade by shade. The top sprinter, KPS pulled a fast one which resulted in it falling 13 sen to RM2.84. The effect of ESOS shares being traded tomorrow hit home hard on buyers who chased the shares beyond RM3.00.
CI was up only 0.8 points to 1288.34. Volume continued to be thin at 761 million shares valued at 1.2 billion ringgits. Losers screwed up gainers 457 to 330. Gainers were MIDF which gained 49 sen on news it will be be taken private. ACB gained 28 sen while Lion Diversified added 25 sen. So did BAT. Losers were TaAnn losing 60 sen. POS Holdings which did a stunt; a sleigh of hand deal transfering Transmil at RM12.00 to the new unit caused Transmile to lose 44 sen. Many got conned yesterday by a newspaper item on this. Caveat emptor; so blame no one for your tomfoolery. Chin Teck slid 35 sen and BHIC was eroded of 32 sen.
CI was up only 0.8 points to 1288.34. Volume continued to be thin at 761 million shares valued at 1.2 billion ringgits. Losers screwed up gainers 457 to 330. Gainers were MIDF which gained 49 sen on news it will be be taken private. ACB gained 28 sen while Lion Diversified added 25 sen. So did BAT. Losers were TaAnn losing 60 sen. POS Holdings which did a stunt; a sleigh of hand deal transfering Transmil at RM12.00 to the new unit caused Transmile to lose 44 sen. Many got conned yesterday by a newspaper item on this. Caveat emptor; so blame no one for your tomfoolery. Chin Teck slid 35 sen and BHIC was eroded of 32 sen.
Portfolio-wise saw Genting adding a paltry 5 sen to RM7.55. BJ Sports Toto and Metronic were overnight at RM4.84 and 18.5 sen. RCE lost a sen to 87 sen and JAKS was also at 87 sen losing 3 sen. Resorts dropped 4 sen to RM3.74 and Welli lost by a similar amount to RM1.1.4.
Not a good trading day as was expected.
I see signs of a fading bull market and the advent of a bearish trend.
Heartsong
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