In Treacherous Waters!

When Pamela Barnes married into the Ewing family, she was treading in treacherous waters, especially with the conniving JR dogging her every step. Dow is our JR Ewing now, creating obstacles every now and then with this silly sub-prime issue. Anyway, it is hurting investors world-wide. More need not be said of their agonies.

Bursa was a real lame dog today. Performance was sub-zero. The glacial movement of stocks was boring-and lull lullabies upon us. CI declined 1.68 points to 1374.64. Losers bullied gainers 514 to 236. Volume was a tad off at 734 million shares worth a respectable RM 666 million. Topping the gainers was UBB, the counter that came in from the cold. It added 25 sen. Commerz showed its financial prowess gaining 20 sen while Magna notched up 16 sen. PDZ upped 15 sen. Construction giant, Gamuda declined 45 sen while Bursa slided 30 sen. Meanwhile, Parkson slipped 30 sen and Suria lost its sunshine to set for the morning session with a 16 sen loss.

Portfolio was thoroughly spent. Except for BJ Sports Toto which stayed at its overnight level, all the other six became clowns and nincompoops,losing their pants. Genting dropped 10 sen to RM7.80 while Resorts gave away two sen to RM3.78. Losing 0.5 sen each were Metronic at 18 sen, Welli at 92 sen and RCE at 93 sen.KHSB performed dismally to lose its shirt as well dropping 1.5 sen to 99.5 sen.

Like Victoria Principal above, let us continue to fight the JR Ewing Dow and its selling pressure potential.

I expect a quiet afternoon with shares going sideways.

Heartsong