A Bridge Too Far?

Another 1.65 points and we would be on level 1400. That is how near we are to this level. We have broken new ground to a new height today. Bravo, Bursa! If Dow can take on the bearish oil news head-on without losing confidence and ends positive tonight, we should be seeing Olympic-class pole-vaulting over 1400 in the morning trading hours of 29 Oct. This will be the start of a higher phase of the bull run on Bursa!

A double-digit gain of 20.08 points placed the CI on a new height of 1398.35. So near and yet so far! There were 663 gainers running ahead of 222 losers. The gainers were top-notched corporate brands. LCL catapulted up RM1.10; Cepco rose 94 sen, Parkson took in 70 sen, SPSetia recovered 65 sen and Bursa leaped 60 sen. Losers included TNB being roiled by the new oil price of US$ 92 per barrel. It rolled by 20 sen. Kulim sunk 15 sen,Choo Bee slipped 15 sen and Magna returned 12 sen to sender.

The shadow portfolio. Genting continued to lead, bringing home another 20 sen to RM8.40. KHSB collected 3 sen to 98 sen while Resorts recovered 2 sen to RM3.80. BJ Sports Toto lose 5 sen to RM5.05 while Welli dropped a sen to 90.5 sen. Metronic, meanwhile attracted heavy buying action today; touching an intra-day high of 19.5 sen. It closed a sen higher at 18 sen. RCE added 0.5 sen to 92 sen.

If Dow does an Academy award performance tonight, Bursa should sprint like a cheetah on Monday.

Heartsong