Bursa -You are the One!

Yes, so much truth in the message from the slogan above. When all markets go down, you follow. When they go up, you go down. Yes, Bursa you are definitely the queer one.

Today, without the Dow compass, Bursa plodded on but ended positive with 6.76 points upping the CI to 1350.92. Worrying is the volume of shares which has dramatically halved itself to only 668 million. The value of the shares was RM1.04 billion;also on the slide! Gainers rebounded to 433 against 344 losers. The breadth has indeed shrunk! I believe a big part is treasury buy-backs! Danger signs are flashing, my friends!

Among gainers, UMNO's Magna took the spotlight pushing ahead with a 56 sen gain. Genting came next with a 25 sen top-up because of its super memorial third quarter 2007 dividend for the late founder. LPI was up 20 sen while SPSetia added 15 sen. Losing were Digi again gravitating some 50 sen; Nestle descending 25 sen;Shell sliding 20 sen and Maybulk off-loading 20 sen as well.

The portfolio was okay. Genting shone like a lodestar upping 25 sen; while BJ Sports Toto rose 10 sen to RM4.92 but compadre Resorts added a mere 2 sen to RM3.62. Sitting at the overnight levels were Welli at 72 sen; KHSB at 95 sen;Metronic at 17 sen and RCE at 85 sen.

Dow future was up today and may have some effect tonight on Wall Street.

Heartsong