Tired and Weak Bursa

I could sense Bursa was trying to put Humpty Dumpty together again in the afternoon session but I guess the flesh was weak for Bursa. Look at Tamara above and you know why-lah- weak at the knees....

Tried it did and finally it added 0.92 points elevating the CI to 1298.85. That is less than 1.2 points to overcome the psychological 1300 level. I guess it will be broken first thing in the morning if Dow is supportive tonight. Tomorrow will be the most opportune day to lift up the home market for a run for Hari Raya. Gainers thumped losers 521 to 326 and volume was pretty good at 1.3 billion shares worth a healthy RM1.93 billion.

Gainers were Transmile, still shooting for the stars gaining another 57 sen. BAT added 50 sen while KPS moved up 26 sen. UMW advanced 20 sen. Losers were Petgas which pooped 30 sen, DFZ still on a losing streak, dumping another 28 sen, MISC lost 25 sen at sea and Tanjong lost its forecast by 25 sen.

The portfolio is interesting today. Here goes....

Genting outperformed increasing 20 sen to RM7.85
BJ Sports Toto advanced 14 sen to RM4.90
KHSB ran ahead by 6 sen to RM1.14 (Volume: 172,201 lots)
JAKS leaped up 3.5 sen to 95 sen (Volume: 180725 lots)
RCE collected 3 sen to 91 sen (Volume: 126,298 lots)
AMDB tacked on 2 sen to 44.5 sen (Volume: 201,964 lots)
Welli added 1 sen to RM1.01
Metronic was unchanged at 17 sen
Resorts World slided and lost 8sen to RM3.96

The market should do better with the stimulus of the 2008 Budget. Since it is an election budget, it will be good for both the individual and the corporation.

So a rationale person would expect Bursa to run ahead of the release of the Budget and accordingly should springboard Bursa on its trek to the much desired 1400 level.

Heartsong