Bewildered!

That lady in the photo looks bewildered. Apart from the shock she got from the new brokerage charges to be made effective in 2008, she is more worried about the breadth of the market, even now; not in 2008 which is definitely graveyard and cemetery stinking-related.

The CI slipped a little bit to 1289.82, losing 0.88 points. What was quite frightening was the volume of shares traded this morning has fallen a fair bit to 384 million shares. Value was 547 million which was okay by my reckoning. Indicative of blue chip buying; I would suppose.

Gainers were behind losers 281 to 360. Gainers were actually yesterday's or the day before losers such as Tanjong and KLK. Both added 30 sen. PPB and BAT tacked on 25 sen each; nothing great here. The losers were utility giant TNB and Maybank losing 20 sen each, Petgas and Pelikan lost a paltry 10 sen each. Looks like foreign funds are selling down their stocks in Genting,Maybank,Commerz and TNB.

The portfolio looks fine to me. Resorts (RM3.82)and BJ Sports Toto (RM4.90) held their heads up high by adding 2 sen each. Welli added a sen to 98 sen while JAKS and Metronic added 0.5 sen to 90 sen and 17 sen respectively. RCE dropped 1.5 sen to 86 sen. Unchanged were KHSB and Genting at RM1.08 and RM7.70 respectively. AMDB , meanwhile lost 0.5 sen to 41 sen.

Asian markets have firmed up. Once foreign fund selling of the blue chips ceased, we should move up.

Heartsong