Bursa on the Roll


Well this is the second day of gains for the Bursa. It is also the third day of gains this week; counting in Monday which brought back 51 points to the CI. It is certainly on a roll now that the sub-prime roil has been contained somewhat. CI moved to 1233.62 up another confident-boosting 28.23 points. Gainers conked out losers 771 to 173. Volume moved up to 2.4 billion shares worth RM2.57 billion. Market has reach a good breadth.

Gainers were IOIProp which took in a hefty RM1.10; Bursa which chalked up 65 sen while Commerce wrestled back 50 sen. Meanwhile, BAT added 25 sen. Losers lost little. CIMA lost 15 sen;Delloyd 11 sen and Mamee 10 sen.

The portolio was good as JAKS leaped forward to 92.5 sen adding 8.5 sen. I believe they won the court case against PUAS and SPLASH. If they did, then our courts are above politics and respect the sanctity of contracts. BJ Sports Toto, as expected jumped back to the RM5.00 level, adding 18 sen. Resorts moved steadily to RM3.80 and I foresee a big bang in a matter of days if Dow is good. Strangely Genting was unchanged at RM9.25. A great buy if you have cash. RCE went up to 80.5 sen adding 2 sen. Metronic was half a sen better at 16.5 sen. Welli, in spite of good volume stayed at its overnight level of RM1.02.

I believe Bursa will rest tomorrow. So CI will move up marginally as profit takers take down the speculative stocks and second liners. It may also go red if Dow goes down tonight.

Heartsong

Showing a bit, arent'we?

So when there is not much influence from Wall Street, we strut around. Showing a bit, aren't we?

Anyway, after a hesitant start, Bursa went its own way as I forecasted. With local news such as Ranhill hitting oil and IOIProp making abundant profit, CI moved confidently to 1255.39, up 23.91 points. Volume was very much better at 1.01 billion worth 1.3 billion ringgits. Gainers ran ahead of losers 847 to 106. Gainers were Lion Diversified with an 80 sen gain followed by Tanjong which chalked up 50 sen, IJM which tacked onn 50 sen and Naim which posted 50 sen as well. Losers were MPI losing 25 sen and IOIProp losing 20 sen.

The shadow portfolio followed the main trend. Genting added 10 sen to RM7.35;Resorts tacked on 6 sen to RM3.70 BJ Sports Toto put on 2 sen to RM4.82. JAKS meanwhile added 7.5 sen to 84.5 sen while RCE Cap moved up to 78.5 sen, adding 4.5 sen. Welli also did well moving up 7.5 sen to RM1.02. Finally, Metronic remained unchanged at 16 sen.

So what would be in store for tomorrow? I think market has even out its loss yesterday. Bursa is now back at the starting block. If there are no more dramatic bearish news from Wall Street, Bursa should recover lost ground and move ahead. I do not foresee a brisk upward movement but more a leisurely stroll up the index.

Heartsong

Bursa in Your Hands

To many, the afternoon belonged to them. They punt the blue chips in the morning and they were richly rewarded when the market followed through this afternoon. Speculative stocks closed at almost their day's high. What a day - a day dedicated to the Lord in this Year of Jubilee. For those who made the money, it was such a sweet day to remember. To those who sold on Friday and did not buy back, they watched as their opportunity window ebbed away.

Today the market went berserk at the opening bell. Sellers came from everywhere to swamp the market place picking up sellers at will. Prices moved up gradually but firmly. Those playing CWs are now laughing all the way to the bank.

The CI climbed 51.84 points pushing the index to 53.56. Gainers thumped losers 1014 to 55. Volume of stocks traded stood at 1.44 billion worth 2.43 billion ringgits. The super gainers were Digi, Stemlife, Bursa and Genting. Losing were KFC, Engkah and IOIProp.

My shadow stock portfolio followed the trend and benefitted as well. Genting shot up to RM7.75, adding 75 sen. Resorts World was better at RM3.76. BJ Sports Toto increased 22 sen to RM4.80. This is one counter which is a bulwark of a stock. In no time, it will be back to the RM5.00 level.RCE Capital sprinted back to 79 sen, upping 7 1.2 sen while super JAKS hoisted up a couple of notches to reach 81 1/2 sen, up 71/2 sen. Metronic up a sen to 16.5 sen while Welli added 7 sen to RM1.04.

Will all these gains stay put or will they be given back tomorrow or the days following? If Dow moves up vigorously tonight, then another price ramp up is expected tomorrow. If Dow is ambivalent, then there could a marginal increase and then Bursa will have to take its own direction.

Anyway, this a good happy day for many.

Heartsong

A True Blue Ribbon Day

Like leaping tigers, the CI bounced back with vigour to finish off the morning session gaining 42.61 points, pushing the index to 1234.16 points. It was a true blue ribbon day. The financials led the come-back followed by second grade blues with speculatives and situationals running ahead.

909 counters were up compared to 63 down. Volume was at 805 million shares worth 1.23 billion ringgits. Second grade blues lead the gainers. These are Petgas, Muhibbah, UMW and Gamuda gaining from 50 to 65 sen. Losers were KFC and PDZ.

The portfolio performed true to form as well; especially the defensive gaming stocks. Genting upped 45 sen to RM7.45 and Resorts gained 14 sen on news Star Cruises sold 50% of its shares in NCL Corp to an equity fund Apollo Management for US 1 billion bucks and will now focus its business largely in Asia. BJ Sports Toto shot up to RM4.76 topping up 18 sen.

RCE performed incredibly well upping 61/2 sen to 77 sen while super JAKS upped a similar amount to 80.5 sen. Welli added 6 sen to RM1.03 while Metronic was a sen better at 16.5 sen.

Market did extra well at all levels. However, some will come down this evening because of possible profit taking as uncertainties on Wall street make holding stocks risky.

If Wall Street should go sideways tonight, Bursa may be rudderless again and profit taking may set in from the morning bell tomorrow.

Heartsong

Magic Moments Revisited

What a tumultuous day!

From a free-falling market losing 60 points at one time, the bursa came to it senses at the last hour and losses were reduced drastically. I guess all the forced selling was completed by 2.50 pm. The CI closed at 1191.55 losing only 16.06 points. There must have been smiles and sighs of relief at all trading halls throughout the nation.

Volume was 1.8 billion shares valued at 3.1 billion ringgits. Losers push ahead of gainers 855 to 189. Gainers were KFC which added 45 sen, JOBS which tacked on 40 sen, Puncak which topped itself up by 32 sen and Genting and Resorts which added 25 sen and 24 sen respectively. Losers were Digi down by 90 sen, KLK by 70 sen, MISC by 45 sen and SP Setia by 45 sen.

Portfolio stocks which was beaten to a pulp initially recovered to minimise losses. Gaming giant Genting put on 25 sen to RM7.00 and Resorts flew by 24 sen to RM3.58 on heavy trading volume. BJ Sports Toto finished unchanged at RM4.58 while JAKS finished 3 sen lower at 74 sen. RCE also finished lower at 73 sen losing 2.5 sen. Welli was down 3 sen to 97 sen while Metronic lost a sen to 15 sen.

Today reminds me of the frantic nervousness that bore on the market after the outbreak of the first Gulf War when Saddam Hussein attacked Kuwait as well as the terrible Asian currency meltdown of 1997 suspected to have been started by Soros.

What a great day this is. To be able to experience yet again the sheer anxiety and excitement of a falling market and a good rebound. Bravo! Calls for a round of beer!

Will follow-through come on Monday and will Bursar scale the 1200 level? Anything is possible, by the grace of God.

We will wait for that on Monday.

Heartsong

Rejoice and Be Glad

If God is with us, who can be against us?

And that about sums up the spirit of the day at the Bursa. After a over cautious opening, the market tripped upwards. Finance counters first attracted fund managers especially Maybank. Slowly the buying interest spread to other financial institutions like insurance. Then it was blue chip corporates and construction stocks. The bulls have come back, a little late. But better than never.

The situational second liners, as usual, ran ahead, picking up gains on heavy buying by retailers. Most closed at the highest of the day especially KPS, KHSB, JAKS and RCE. At the end of trading day, the CI finished off best at 1307.17 , up 17.04 points. The volume of shares traded was 1.189 billion valued at 1.73 billion ringgits. Gainers led losers 850 to 104. Among gainers were Muhibbah which clinched 65 sen;Sime Darby upped 60 sen, LPI rammed home with 50 sen, Naim with 50 sen as well and SAAG with 40 sen. Losers were MPI,Tanjong,Opus and Digi.

Shadow portfolio analysis.

Yes, as expected all gained but Genting, Resorts and Metronic were off-best.

Genting(RM7.60), Resorts(RM3.96), BJ Toto(RM4.96) and Welli (RM1.12) added 10 sen each. JAKS jumped 9.5 sen to 91 sen, RCE hopped up 8 sen and Metronic managed a 0.5 sen gain to 19.5 sen.

With God's blessings, grace and mercy, Wall Street should perform tonight and we can then see good market action on Bursa tomorrow.

Amen.

Heartsong

Mama Mia! A Ten Points Jump

Most would remember today as one of the better trading days of July 2007. Having built a broad base yesterday, the market moved up ever cautiously. The volume of shares traded today is 1.9 billion valued at 2.3 billion ringgits. The number of gainers easily trounced losers by 635 to 318. Of the gainers, VADS went ballistic adding RM1.35 sen while Muhibbah continued to attract interest, adding 90 sen. IOIProp put on 40 sen. Among losers were BAT losing 25 sen, BRDB giving up 22 sen and Telekom Malaysia and Sime Darby losing 20 sen each.

Portfolio stocks saw some good action.

Genting did well adding 20 sen to RM8.55 on a volume of 217 million shares.

Taliworks added 6 sen to RM2.19.

KPS added 5 sen to RM1.88, an auspicious price to be. Volume done was 95 million shares.

Welli with the help of the trident from Neptune, the Sea God, added 4 sen to RM1.34 on an increased volume of 23 million shares. Good threshold for an upward move.

RCE Capital went up 4 sen to RM1.07 on 69 million shares traded. Another go getter in the works.

AMDB moved up 2 sen to 41.5 sen on a volume of 74 million shares. I think it is ready to move up to 45 sen.

Metronic added a sen to 0.235 sen on an increased volume of 71 million shares. I think it is ready to move out.

JAKS hovered about its overnight level of 82.5 sen. Some 36 million shares were traded.

BJ Toto lost 5 sen to RM5.05. It lost support for quite sometime when it screwed up on its dividend payout.

Resorts World lost 14 sen to RM4.32 on a volume of 208 million shares. The intra-day low was RM4.28. I think it may have found its bottom when trading ended for the day. Expect marginal gains tomorrow.

All round, quite a good day in spite of Resorts giving back 14 sen.

Heartsong

Profit Taking at the Morning Close

It was to be expected. Resorts World went up to touch RM4.60 and then profit taking took place. After a 56 sen gain, those short term punters must exit and they chose today to do it at their benefit.Resorts lost 16 sen to RM4.30 on a smaller volume of shares traded (128 million). So we will let Resorts to settle down to find its new level for the next few days as it goes into a consolidation phase.

Genting meanwhile move along, adding 15 sen to RM8.50 on a volume of 11 million shares. Genting should maintain that price this afternoon before attempting to return to its former price level of RM8.70.

KPS shot through the RM1.90 level but ended at 1.86 for a 3 sen gain on a volume of 68 million shares.

JAKS added a sen to 83.5 sen on a volume of 16 million shares.

Welli added 2 sen to RM1.32 on a volume of 15 million shares.

Metronics added 1.5 sen to 24 sen on a volume of 55 million shares.

RCE added a sen to RM1.04 on a volume of 24 million shares

AMDB added 0.5 sen to 40 sen while BJ Sports Toto lost 5 sen to RM5.05.

Taliworks was unchanged at RM2.13.

A mixed bag of results. I would love it if KPS and Metronic could continue to move upwards to show there is confidence in these two counters. I am particularly concerned for Metronic as it has not shown any good premium after moving to the Main Board. As for KPS, the big blocks of shares changing hands this morning shows that good news is coming. For Welli, I think it has found its bottom. Must have consulted Neptune and got his trident to make it back to better price levels.

Heartsong

Market Seems to be Developing Breadth

The last two days trading pattern shows early promise of a greater breadth for the market. Or is it just an illusion occasioned by the Resorts buy-back exercise. We cannot tell for sure since fund managers have jumped into the fray as well.

Cap Ayam predicts today's market. I append with some paraphrasing:

Malaysia shares tipped to trade in the 1371-1388 range tomorrow after failing to breach the all-time high 1391.57. KLCI ends down 0.83 points at 1381.53 in heavy volume on profit taking from intra-day high 1389.20 despite healthy buying interest in blue chips and index-linked stocks. Market breadth is positive with gainers leading decliners 494 to 427. The surge in China stocks, despite the imposition of higher interest rates, helped to lift regional markets with positive spill over effect onto our market. The ringgit's strength was an added catalyst for foreign funds," says dealer. USD/MYR was trading late at 3.4050 vs 3.4140 Friday.

So it is range trading that we can expect. If it is so, then we can say today will be more a bargain hunters' market and fund managers would not be in active participation. So let us watch the market as it unfolds. Meanwhile you can look at Kate Beckinsale in the above photo.

Heartsong

A Good Follow-Through Finish

So, what do you know?

Market went into positive territory as Quasimodo rang the bell.

CI finished up 2.8 points to 1385.10 and gainers outdid losers 428 to 417. Volume of shares was 8.1 million while value of stocks done was 1.1 billion ringgits.

So let us see how the portfolio ended up.

Resorts did splendidly with a gain of 22 sen to RM4.44 on a volume of 34 million shares. Genting was so much better today as it moved up healthily to RM8.35, adding 25 sen. Another 35 sen and it will be back to RM8.70, its price before it was shot down. KPS sprang wings and took flight and is now sitting on the price level of RM1.80. Hope it stays there this time while we wait for the water-play to begin... JAKS was 0.5 sen better at 84sen. Looks like it is ready to leap to 90 sen soon. Metronic and AMDB are at its overnight level while Welli is now scuba diving at RM1.33; losing 3 sen in the process. Taliworks is not performing well after the last corporate news of the SILK Highway takeover. It slumped 9 sen to RM2.07.

So let us watch the afternoon session and see whether magic is in the air.

Heartsong

Good Day for Gamblers

Market shrugged off any overseas influence to trade marginally lower at the opening bell. It closed down 0.37 points to 1381.99. Volume was low as we move into the midst of the witching hour. Some 6 million shares changed hands. Value was 827 million ringgits. Losers beat gainers at 426 to 352. About half a million shares traded were Resorts World and Resorts-CB.

Gainers included BSDProp, UMW, Tongher and DIGI while losers were IOIProp, Lion Diversified, SunCity and Tanjong. Mostly property stocks.

Except for Resorts and Genting, most portfolio stocks receded into negative territory. Welli took top spot by bungee jumping another 6 sen to RM1.30. JAKS slided 2 sen to 83 sen while RCE lost 3 sen to RM1.03. Staying at their overnight levels were KPS, BJ Sports Toto, AMDB and Metronics. Taliworks lost 5 sen to RM2.11.

Meanwhile, Resorts World added 22 sen to RM4.44 while Genting added 25 sen after falling the last 5 trading days on suspected price suppression.

The market appears to be resilient at this unearthly hour. If it can pace itself through the next hour, it should solidify a base for an afternoon run to put the CI in positive territory.

Heartsong

Home At Last!

After four days in the wilderness, Bursa is home and in loving arms!

Chan Mali Chan Hey Hey, Chan Mali Chan Hey Hey, Chan Mali Chan ketipooo payung .... Jubilation. Yes, there is firming all round. Buying is more broad-based and volume has gone up to 1.6 billion shares worth RM2.2 billion.

There were good gains ranging from 30 sen upwards to 75 sen. Losses meanwhile were capped at 40 sen. Leading the gainers were Lion Diversified with a gain of 75 sen. Must be some great news here. Boustead upped 67 sen and the quiet Oriental Holdings popped up and gerak langkah with a 50 sen gain. UMW lost 40 sen, Keladi; 26 sen and Transmile; 20 sen.

Is the portfolio better in the afternoon? Except for Resorts, some gains were trimmed though. JAKS ended off its high of 85.5 sen to end at 83.5 sen, making a gain of 4 sen (Volume: 181,645 lots). KPS gained a sen to RM1.74 (Volume:50,433 lots) while RCE was again at its overnight level of RM1.05 with 45,076 lots changing hands. BJ Toto added 2 sen to RM5.00; possibly via Treasury buying. Kiasu counter? AMDB also ended at its overnight level of 39.5 sen. Tak ada support lagi-keh... Kenapa??? Merajuk...

Genting is still with the penguins losing 10 sen to RM8.10. I ''see'' a deliberate attempt to push the price of Genting down for some unknown reasons. Metronic is comatose at its overnight level of 23 sen; almost as bad as the day (9 July) it went ex-bonus. Has it become a junk stock?

Welli...Welli...Welli... you are not well at all. You have lost your trousers since the Hadhari indicative share purchase day. Pray tell me, where is your bottom now that you have lost your trousers?

Star Performer is definitely Resorts World. You are being bear-hugged and in loving arms. Macam itulah kawan. It stood firm against heavy selling pressure about 4.30 pm and then it swung back with better gains of 32 sen at the day's close. Viva Muchachos!

Let us look at Taliworks. Added 2 sen to RM2.16. Let us watch this counter as it will benefit from all the waterwork projects. Moreover 19% of its shares are held by KPS.

So all in all, my portfolio seems to be doing alright except for that penguin buddy with the unhappy feet. Hey Frodo, where are you?

Heartsong

Returning Confidence

The overall market got back some of its soul by 4 pm. Blue chips were collected by fund managers which moved up the CI to finish at 1376.4, up 7.17 points. After 4 days of losses, it finally snapped back into positive territory. Share volume was at 1.2 billion valued at 2.1 billion ringgits. Losers stood at 483 counters viz winners at 456 counters. Gainers were firm from the morning bell. These include Commerce, Boustead, WCT and LCL. Losers were BAT, still reeling from the tariff hike, Green Packet, DIGI and YTL.

Most portfolio stocks also made some gains. RCE got back 6 sen to finish at RM1.05 on a gigantic volume of 85.7 million shares traded. Resorts clawed back 8 sen to finish at RM3.90 on a big volume of 264 million traded shares. KPS added a sen to RM1.73 on a share volume of 32 million.AMDB also finished better by half a sen to 39.5 sen. JAKS, traded at a volume of 9 million shares, was at its overnight level of 79.5 sen. Going south consistently without any trailing stop was Genting. It lost a further 5 sen to RM8.20. Metronic weakened half a sen to 23 sen while BJ Sports Toto collapsed to RM4.98; losing 12 sen.

I believe Resorts World will jump up in price very soon since the selling has abated. The way Genting has been pushed down is sufficient signal it is going to move up ever so quickly as well once the collectors have their fill.

An interesting day awaits us tomorrow.

Heartsong

Fool's Gold

Was the Friday price lift-off on the Bursa, fool's gold? A flash in the pan? Or is it an opening to a new chapter for the next scaling up for the CI?

Even that guy in the movie "Next" could only see a couple of seconds ahead of time; so he could avoid trouble and use that advantage when he so needs it. Unfortunately, we do not have that gift. At our disposal are some crude charting methodologies based on constants and variables. At best, our reading will be a good guesstimate. Anyway, be content with that for the moment until more sophisticated tools are made available.

So we have analysts' reports. They have done some homework and given their take. So as laymen, we read them with a grain of salt to make some sense of what is written. Hopefully we can make some so-called "wise' decisions before taking a position on a stock.

Looking at THE STAR today (14 July 2007) in the Business Section, Lee Hung Yee put forward her broad crystal ball reading. The regional markets were in chorus yesterday from Hong Kong to Jakarta taking the cue from a good Wall Street performance. But watch out for Wall Street though as it can be volatile on likely weaker second quarter earnings.

Leong quoted Cheah King Yoong of SJ Securities' observation that the market has yet to be broad-based since buying is still confined to large caps and component stocks. UEM's loan from China, Tenaga's windfall result, DRB's foray into oil and gas, Resorts World's timely disposal of some Star Cruises share holdings to CMYCL and the potential EONCap take-over had helped in yesterday's supreme rally. Cheah, as such, expect the CI to trend upwards on possible spill-over next week. He opines that that support level will be at 1370 and the upward resistance at 1400.

Meanwhile Kenny Yee of OSK believes that interest is shifting back to the blue chips after the second liners and penny stocks had their fun run over the past few months.

He quips: As losers outnumber gainers, it is only natural for profit taking to take place on the lower liners that had made good gains. However, he cautioned that any uptrend at this juncture could be limited as there is a dearth of good news. Tongue-in-cheek, he then tossed in that outsider possibility of buyers looking ahead to buy based on 2008 valuations since we have just crossed the threshold of 2H 2007.

I am not too sure of investors looking at 2008 valuations. It could be pre-matured. But this I am quite certain--There is no dearth of political and corporate news in Malaysia. We like to create news. We are super-duper event managers.

Our next stop is not the Twilight Zone but Bursa's ascent beyond 1400. The unfolding events in the Malaysian diary will include:

• IDR's pioneer companies to be released by PM
• The North Corridor Economic Region Masterplan Unveiling
• The Pahang-Selangor Water Transfer Project
• The Listing of Synergy Drive
  
• The Global Halal Hub Development
• The September Budget
• The Continuous Roll-out of 9MP project tenders and fast track implementation
• The impending General elections

Let next week unfold in its own good time.

Have a good week-end.

Heartsong

Blue Angels of Victory

It started like a SWAT action where most blue chips were lifted up by typhoon buying. As expected, once rush hour was over, the SWAT left and the gains pfffft! dissipated. Most blue chips, however, retained some gains.

The second liners that followed the trail lost almost all their gains and some even went to minus territory.

At the noon close, the CI was up 14.3 points to 1380.33. Good share volume at 787 million shares on a value of RM 2.53 billion. There were 357 gainers compared to 472 losers. Gainers included true blue bloods-BAT, Tenaga and Commerce. Losers were Transmil, Widetec and Kwantas.

The afternoon session was quite tenacious. Market ended at 1384.72, up 18.7 points. The share volume expanded to 1.47 million shares and the traded value was RM 2.4 billion. I think the market has returned! There were 457 gainers compared to 471 losers. Gainers were Zelan with a hopping RM1.10 gain, BAT went up 75 sen; Commerce; 50 sen and Tenaga by a similar amount. Losers lost small margins. MOX lost 40 sen, Transmile; 30 sen and WCT; 20 sen.

The stocks in the stable-how did they perform?

Resorts-the shooting star adding 18 sen to RM4.02 after touching an intra-high of RM4.12. The buying was massive by fund managers. It opened up 8 sen at RM3.92 and was chased up. Should climb up at least another 5% in the immediate term. I think it has something to do with the impending sale of NCL.

Genting-heavy block buyings noted as well. It added 10 sen to RM8.55. Good base being built for a good ascent soon.

KPS-renewed interest pushed it up 7 sen to RM1.77. Many big blocks were done. Looks like the signal is given for the start of the water-play.

RCE-Added a sen to RM1.06 even though it went up to RM1.08 in early rush hour buying. Attrition buying mostly though there were initial block buying when the market first opened. I think this counter is about to move up in the near term to test the RM1.20 level.

Metronic-Global-Lost 1 sen to 24.5 sen. Losing momentum. Hold on to your stock until it reaches the 30 sen level or until early September.

JAKS-lost a sen to 79 sen. Heavy bloc buying. Expect the counter to move up next week if there are news release on the Pahang-Selangor Water Transfer Project.

WMC-Added a sen to RM1.61 though started trading at RM1.68. Possible speculative play in the offing once the annual reports are released.

AMDB-Stayed at the overnight level. There was block buying but not strong. Continues to be retail play. Not really going to move up a lot.

BJ Toto-Stayed at its overnight level of RM5.15. No interest noted; perhaps Treasury buy-ins.

Heartsong

No Thunder Thursday

Like a blind man without Wall Street to illuminate the way. That describes the market this morning. The Chinese markets are absolute rogues. Don't follow them. No thundersbolts except for one from Thor this morning even though Thursday is supposedly named after him as the Norse God of Thunder. WMC is that thunderbolt. It has finally done a triple somersault to hit limit up to at RM1.36 on fresh buying support.

The composite index ended 7.8 points to 1,369.3. Losers overwhelmed winners 495 to 391. The volume of shares done was 1.2 billion shares with a value of RM19 billion.

Gainers included Welli-Multi Corporation (WMC), Pelikan and AMMB while losers were BAT, SAAG and Mahsing.

Tracked portfolio stocks saw WMC flying up to RM1.61 for a 56 sen gain. JAKS added 3 sen to 81.5 sen while Resorts added 2 sen. Meanwhile Genting fell 30 sen to RM8.40 and BJ Toto was down 5 sen to RM5.30. KPS added 5 sen to RM1.74 while Metronic lost a sen to 42 sen. AMDB put on 0.5 sen to 41 sen. Meanwhile, RCE added 1 sen to 99.5 sen sen but BJ Toto gave up 10 sen to RM5.30.

WMC did not go limit up in the afternoon to RM1.81. The highest it did was to RM1.63. Good show, WMC!

Never a fair and foul day together, don't you think?

Heartsong

Bouncing Ball WMC?

So what do you know? It went as low as RM1.06 and closed nicely at that price yesterday. But lo, by Merlin's magic wand, it started at RM1.18 this morning and it is now racing limit up at RM1.36 on almost 7 million volume. This is a truly wonder counter.

If there is one share counter you should play the whole year of 2007, this is it! WMC.

So, trust the new management of WMC. It looks like they are the mission squad to fly the national halal hub project for the muslim world. A most powerful premise as Malaysia is one Bolehland! So forget about the SC query. The report will be published just like in the case of Megan and Transmile. Believe me, the creditors will pay up when they receive the demand letters!

Since Hadhari is buying WMC at RM1.50 and the deal is expected to be sealed in two month's time, expect WMC to fly back to RM2.00 in no time.Remember this is a block deal. So retail prices are higher.

It has been a hard period for shareholders when WMC went down to RM1.04. I hope rosy days are here to stay for WMC. Ultimately expect WMC to change its name to something like Hadhari Agrotech International as it evolves into a global company. What can I say to WMC except Tahniah and Syabas!

PS: WMC closed at RM1.61 notching up a gain of 56 sen.

Heartsong

My, My ! Sky High!

Historical day for the Bursa as the index added 9.5 points to touch a new high of 1,386.27 in tandem with world market performance. Winners included CIMA which put on RM1.05;Equine which climbed 60 sen; BAT which notched up 50 sen and Ranhill which reversed its two day loses to add 46 sen. Chief among loser were Transmile which sunk to RM4.94 for an 81 sen loss. The other notable losers were IOICorp and IOIProp which lost 20 sen each.

BJ Toto went up 35 sen to RM5.40 on a volume of 6.8 million shares. Is Vincent taking it private? Or is it going to give a super final dividend or special dividend to reward loyal shareholders? Either way, this counter will finally see new heights.

KPS seems to have lost steam after being the ''water darling'' for the last week or so. It went down 3 sen to RM1.62. Good development to flush out weak holders. KPS should maintain this price level before moving up to the next level which I suppose would be the RM1.75-RM 1.80 level. KPS gets more enticing as the months go by because of the imminent Langat 2 tender.

It looks likes JAKS will be come the next ''water darling'' after KPS. It is the front-runner for sub-contracting work in the Langat 2 as well as new water projects in Kedah and Malacca. Moreover it is the sole producer of large diameter pipes in Malaysia. With RM16 billion worth of water projects in the 9th MP, JAKS will score big in pipe replacement projects throughout the nation! It went up 2.5 sen to 81 sen on a volume of 8.06 million shares today.

Resorts World is finally moving up with vigour and volume. It chalked up 14 sen to RM3.58 on a volume of 10.5 million shares. I believe most of the notes have been converted. As Resorts World has also been used as covered warrants; some of its shares will be taken off the market by issuing institutions for the purpose of share exchange. Smart move on the part of CIMB as the strike price for their covered warrants is RM3.20.

RCE is set to scale new heights as well, finishing 5.5 sen at 1.05 today. Volume traded was 15 million shares. I believe more shares are amassed by fund managers as RCE is a clear winner for consumer finance. With the new pay revision effective in July, civil servants will have more loan repayment capability as they go shopping. If Goldman Sachs, General Electric, Public Mutual and HSBC Hong-Kong can invest in RCE, so can you.

DRB-Hicom was 7 sen better at RM1.89 while Genting was 5 sen better at RM8.00. Its share volume was 6.8 million. Meanwhile, Metronic was flat at 38.5 sen.

So there you have it, folks-one helluva record breaking day. I think punters are generally happy. Assuming there are no glitches in the near horizon, the index may retreat a wee bit before going up further. It all depends how far the Chinese markets will go!

Heartsong

Great Day at the Bursa

Well, what do you know? Today is about one of the best market days in months. It had direction and it had strength all day. Index touched a good high of 1,372.28 for a 11.6 points gain. Gainers led losers. IOICorp put on 40 sen;Ranhill 37 sen and SP Setia; 35 sen. Losers were BAT, KNM and LCL.

Tracked stocks faired generally well today. KPS performed splendidly putting on 12 sen to RM1.63 after touching an intra-day high of RM1.65. RCE finished off best at RM1.00 ad BJ Toto added 14 sen to RM4.92. Resorts World came out of its cocoon to notched up 8 sen to RM3.32. Metronic added 1/2 sen. POS, however, lost 4 sen.

A good counter to watch from now on is JAKS Resources, the pipe manufacturer which may feature well with the Pahang Water Transfer Project since they produced pipes of almost the right size for the project. It went up to 85.5 sen on an intra-day high before finishing off at 79.5 sen. I hope to track JAKS and blog it soon.

A good trading day for many.

Heartsong

Hopefully this is a Good Day

Market ended the morning session with a 9.3 points gain to push the index to 1,369.93 points. Gainers outpaced losers. Market leaders were Ranhill, Tanjong and DIGI and losers included BAT, KNM and RCI.

Of the tracked stocks, there was much interest in RCE which went up 6.5 sen to RM1.03 on a trading volume of 12.25 million shares and KPS which garnered 5 sen to RM1.56 on a trading volume of 8 million shares.. Genting was off 5 sen but Metronic added a sen to 39 sen and BJ Toto; 2 sen to RM4.80.

Heartsong