No Momentum Buying Seen

Like a chicken which have lost its head, Bursa could go nowhere. So down it went into the sands of defeat. CI lost 4.62 points to go below 1370 points (1367.76). Losers once again hung the losers 445 to 288. What continues to assure is the volume traded and the good value. Some 830 million shares changed hands with a value of RM1.06 billion. No momentum jackhammer buying seen. No rush of adrenalin flow.

Gainers saw the likes of BAT which went up a miserable 50 sen. Should not be used as an indicator henceforth unless it is more than 50 sen. KFC added an aromatic gain of 40 sen while Bursa continue adding gains, this time by another 40 sen. Dutch Lady sweetened its counter by adding 30 sen. On the losing end sat Parkson the store losing 45 sen,WCT giving up 25 sen while DFZ continues to drop, this time down the chute by 22 sen. IJM dropped 20 sen.

The portfolio was lame. RCE added a sen to 95 sen. Welli was unchanged at 93.5 sen;KHSB fell by a sen to RM1.00 while BJ Sports Toto dropped 4 sen to RM4.88. Resorts dropped 2 sen to RM3.76 while heavyweight Genting dumped 15 sen to RM7.90 on market re-rating that its real value is RM7.60 sen. Meanwhile Metronic lost 0.5 sen to 17 sen.

The market is like that young lady stepping out of the inferno. Will it improve in the afternoon session? Are we gonna burn??

Lousy day so far, right?

Heartsong