Thursday, August 30, 2007

The Mildest Technical

With such a ramped-up Dow, Bursa was feeble, responding with the mildest technical rebound. Started well when kiasus stomped in but after the early euphoria, prices slided. CI finished up 6.3 points to 1269.97 points. Volume was about 545.8 million shares worth RM 768.4 million. Gainers led losers 488 to 217.

Gainers were BAT flying off with a 75 sen gain;followed by Lion Div topping up 60 sen, AHPlant
adding a further 28 sen and Mentiga upping 27 sen. Losers saw the likes of KFC losing 25 sen and OSKProp losing 22 sen.

Portfolio was so so. Genting added 5 sen to RM7.20; JAKS added 2 sen to 95 sen while RCE added 1 sen to 80.5 sen. Resorts and Metronic was at their overnight level of RM3.78 and 16 sen while Welli fell by another sen to 96 sen.

I will log AMBD again. A penny stock that has turned around, it should attract buying support at least to 50 sen prior to the September 8 Budget speech. The public is expecting goodies for the property and construction sector. It closed unchanged this morning at 41.5 sen.

Since this is the last day of this week, I believe many are leaving early for their holidays. For them day is done and so expect most shares prices to moderate downwards as the fading minutes of afternoon trading arrives.

Heartsong

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