Range-play-The Lock Horn-Paw Interlude
The above photograph was taken by Hubble. It is called the ant nebula. It symbolises the range play we will see in Bursa until a breakout occurs. Some days the bears will win; some day the bulls will.
As speculated, Bursa opened up well above 16 points and then, it appeared on the water-slide at Sunway Lagoon and slided down to a gain of an unimpressive 7.77 points to move the CI to 1281.29. Volume was 828 million shares valued at 1.04 billion ringgits. Gainers led losers 544 to 237. Gainers this morning was PPerdana, still kicking with the rial from the middle-east. It closed up 36 sen. Commerz, the political counter was up 30 sen, followed by the Kuok flagship PPB topping up 30 sen as well. WCT also gained 30 sen. Losers were Cepco sliding down by 32 cents, Kramat dropping 20 sen, Shell going down by 20 sen and Nestle down by a similar margin.
The portfolio was a mixed bag. BJ Sports Toto up 5 sen to RM5.10, JAKS added 4 sen to 94 sen while RCE was better 2 sen at 83.5 sen. Metronic, on a rare occasion, up a sen to 17 sen. At their overnight levels were Genting at RM7.40 and Resorts at RM3.70. Welli descended a sen to RM1.04 sen.
The afternoon will not be magical. I expect the market to be as lacklustre. Random walk or not, the market is range-bound like farm animals.
Sit tight and wait for a fairer trading day.
Heartsong
As speculated, Bursa opened up well above 16 points and then, it appeared on the water-slide at Sunway Lagoon and slided down to a gain of an unimpressive 7.77 points to move the CI to 1281.29. Volume was 828 million shares valued at 1.04 billion ringgits. Gainers led losers 544 to 237. Gainers this morning was PPerdana, still kicking with the rial from the middle-east. It closed up 36 sen. Commerz, the political counter was up 30 sen, followed by the Kuok flagship PPB topping up 30 sen as well. WCT also gained 30 sen. Losers were Cepco sliding down by 32 cents, Kramat dropping 20 sen, Shell going down by 20 sen and Nestle down by a similar margin.
The portfolio was a mixed bag. BJ Sports Toto up 5 sen to RM5.10, JAKS added 4 sen to 94 sen while RCE was better 2 sen at 83.5 sen. Metronic, on a rare occasion, up a sen to 17 sen. At their overnight levels were Genting at RM7.40 and Resorts at RM3.70. Welli descended a sen to RM1.04 sen.
The afternoon will not be magical. I expect the market to be as lacklustre. Random walk or not, the market is range-bound like farm animals.
Sit tight and wait for a fairer trading day.
Heartsong
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