Weak and Sterile

As expected, there was no follow-through in the afternoon. Most speculative stocks were back to square one; some even lower than their overnight levels. So the Dow will likely be lower or even go into negative territory after such an eruptive performance today. Data driven Wall Street will now recoil as they start to speculate the downside of the financial institutions mired with sub-primes. I see down and down for Dow.

Meanwhile back at Bursar, the composite index stayed at about the same level as the noon close. Volume was definitely more showy at 1 billion shares worth RM 1.7 billion. Market breadth is certainly back but the punch and energy is sorely missing. Gainers smashed out losers 600 to 255. Gainers were KLK bouncing up 70 sen;Digi ringing in 60 sen; Gamuda tossing up 50 sen and Lion Div roaring up 30 sen. Losers running scared include Pharma off 22 sen, Nestle being milked off 20 sen, MSC losing 20 sen and AHPlant dropping 12 sen.

A look at the portfolio. Leading the pack was BJ Sports Toto adding 12 sen to RM4.96 followed by Genting which tacked on 10 sen to RM7.70. Next came Resorts adding 4 sen to RM3.82 while RCE added a sen to 85 sen. AMDB meanwhile managed a half sen gain to close at 40 sen. Closing unchanged were KHSB,Metronic and JAKS at 93 sen;16 sen at 83.5 sen respectively. Welli, after all the false leads,lost 2 sen to RM1.00.

Tomorrow will be a day of hard fall, I can tell. So be butt-ready!

Heartsong