Looking for the Double Dip

Yes, Bursa fell. However, not as much as I wanted it to. The double dip and a loss of more than 50 points which I was hoping will happen, did not come to pass. The range bound trading with the minimal losses of 5 sen and less makes it unattractive to take a position today. If Dow should plummet once more tonight then tomorrow may be hunting season.

CI lost 19.36 points to 1350.81 with losers kicking butts 784 to 136 gainers. Volume was 1.65 billion worth RM1.63 billion. Good showing that the bull run remains intact. As expected, Bursa, the bellwether stock took a pounding,losing 70 sen.BAT lost 50 sen while Kossan shaved off 48 sen. Meanwhile KLK lost 40 sen. Gainers were Digi which announced a ringgit dividend. It closed up 20 sen. VADS, MPI and Gamuda also topped up 15 sen.

My portfolio was a basket case. Genting shaved off 15 sen to RM7.65 while Welli, KHSB and RCE all lost 3.5 sen to 89 sen;93.5 sen and 88.5 sen respectively. Resorts World took a marginal loss of 2 sen to RM3.74 while Metronic lost 0.5 sen to 17 sen. BJ sports Toto was the only joy giver adding 2 sen to RM4.92.

"Tomorrow is another day," so says Scarlett in Gone with the Wind. Not for the tree up there. It will be mowed down for Patrick Lim's Equine project.

We do not know what is in store for us tomorrow especially with this sub-prime fiasco in the US. If Dow goes down on the floor tonight, get ready to punt.

Heartsong



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