Bear Sightings

Yes, bears are at play now that Sime Darby is hibernating. The CI slipped quite a serious 8.15 points to 1425.89.

Losers wagged gainers 425 to 184 and volume shrunk horribly to 258 million shares worth 521 million ringgits. Very bad sign as this is the men that the bear is near. Among gainers were BAT with a 50 sen gain;MISC rising 25 sen while and Dutch LadyIOIProp increased 20 each. Losers were beverage maker Nestle down 25 sen along with IOICorp and Goldis. Maybank lost 20 sen.

Portfolio performed sub-par. Except for BJ Sports Toto which added 5 sen to RM5.10, the others were mostly down. Genting and Metronic were at their overnight levels of RM7.65 and 16 sen while KHSB gave up 2.5 sen to 85.5 sen. Resorts lost 2 sen to RM3.72 while RCE and Welli dropped a sen each to 87 sen and 56 sen.

Afternoon does not look good.

Heartsong