Thursday, October 11, 2007

Below Expectation

Random walk among the blue chips-that is the order of the day, it seems. A lot of day-traders and punters were busy fishing around. The MUI-PMI game seems to be moving great guns. The surge of the Metronic share counter now looks like a flash in the pan as it fell 2 sen to 17 sen.

CI closed the morning down a minimalist 0.34 points to 1376. Losers knocked down gainers 471 to 263. Volume and value as expected has shrunk a little bit. Volume is now slightly down to 713, ooo with a value of RM850 million.
Digi upped RM1 with ceramic manufacturer GBH moving up 27 sen. High and Low came to life adding 25 sen while KNM continue moving up, this time by another 25 sen.

The portfolio looks okay.
JAKS continued its upward trajectory adding 9 sen to RM1.28 while KHSB spring to life adding 3.5 sen to 99.5 sen. Welli tacked on 0.5 sen and Genting was 5 sen better at R8.05. AMDB saw renewed buying interest to collect a gain of a sen to 46.5 sen. RCE and BJ Sports Toto meanwhile remained at their overnight levels of 90.5 sen and RM4.82 while Metronic slided two sen to 17 sen. Resorts was down 2 sen to RM3.80.

Noticeable buying interest continues to be good on the second grade blues. Market seems to be resisting selling pressure well ahead of heavy scrip delivery and the coming long market break.

Heartsong



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