Bursa is Drooling Drunk!A picture like the one above tells a thousand words. Similarly, Bursa is akin to that picture. We are all losing because Bursa is sure to lose its head!
From a better lunch close, the Bursa in drunken stupor, ended up the CI ante by a miserly 1.59 points (1366.58). Losers manhandled gainers 556 to 279. Volume was better at 1.03 billion worth RM1.30 billion. Looks like the market is intact.
Gainers was led by BAT flying high with a 75 sen gain. IOIProp followed with a rise of 30 sen and so did Shell. Nestle chalked up 25 sen. Leading the losers were Etitech dropping a bomb of 70 sen; Comintl skidding a huge 65 sen, MSC unloading 50 sen and OilCorp slipping 42 sen.
The portfolio was alright. Genting added 5 sen to RM8.05 and BJ Sports Toto notched up to RM4.96 with a 6 sen gain. Losing big time were Welli, dropping off 6.5 sen to 65 sen on unfavourable reports; KHSB slipping 5.5 sen to 87.5 sen, RCE descending 1.5 sen to 85.5 sen, Resorts losing 2 sen to RM3.70 and Metronic dropping 0.5 sen to 16.5 sen.
The current macro climate for equities is not encouraging. If Dow is down tonight due to sub-prime woes or the state of the American economy or even performed marginally, the bias is for Bursa to go south.
Heartsong
The portfolio was alright. Genting added 5 sen to RM8.05 and BJ Sports Toto notched up to RM4.96 with a 6 sen gain. Losing big time were Welli, dropping off 6.5 sen to 65 sen on unfavourable reports; KHSB slipping 5.5 sen to 87.5 sen, RCE descending 1.5 sen to 85.5 sen, Resorts losing 2 sen to RM3.70 and Metronic dropping 0.5 sen to 16.5 sen.
The current macro climate for equities is not encouraging. If Dow is down tonight due to sub-prime woes or the state of the American economy or even performed marginally, the bias is for Bursa to go south.
Heartsong
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