Wide-eyed and Waiting

The window of opportunity to sell or to buy did not pass us by. Range trading makes suckers of us all. If you sell, Murphy will come by and push the price up. If you buy, Murphy will come by and push the price down. Best thing perhaps is not to do anything at all and watch Murphy at his mischiefs.

The CI closed at 1278.17 up 4.75 points. As I have so speculated, second grade blues did their rumbas and many who played these construction stocks are singing. Those who played speculatives got some money but less than what the brokers will get. KPS players as usual are grinning from ear to ear knowing that the counter will be pushed up to cushion the selling pressure for ESOS shares to be traded tomorrow.

Volume was 1.3 billion shares worth 1.7 billion ringgits. There were 531 gainers against 315 losers. Among gainers were Lion Div which perked up 55 sen, DFZ which topped up 42 sen, PPerdana which rialed in 42 sen and Muhibbah which put on 35 sen. Losers include BAT which was smoked out 50 sen, Cepco which dropped 38 sen, SAAG which fell 35 sen and RHB Cap which got short-changed by 20 sen.

The portfolio was mixed. BJ Sports Toto traded in a tight band all day to finish at RM5.15 for a 10 sen gain. I guess they are treasury buy-backs. Resorts was overnight at RM3.70 while Genting lost 5 sen to RM7.35. JAKS was 3 sen better at 93 sen while RCE added 1.5 sen to 83 sen. Metronic was 0.5 sen better at 16.5 sen while Welli lost 3 sen to RM1.02.

Dow futures look good while Asian and European markets performed. So what is wrong with Bursa?

Fatigue or constipation?

Heartsong