Family of Four

Duplicitous Debility

The bursa is best described as duplicitous. Why so? It is a market that is made or broken by these unscrupulous fund managers operating world-wide. Right now, they are bargaining down quality counters like Dutch Lady hoping some weak holders will let go. Then we have those odd-balls buying up Genting at such a high price when they could have easily got it cheaper by the dozen at least two times in the last two weeks. Why are they averaging upwards on a 50 sen counter? Questions, questions, questions.

We started on weak note this morning. By the witching hour, it was up 7.69 points with Genting and Bursa leading the gainers. Maybank held steady. All other counters remained at Friday’s close. Those who had losses earlier starting recouping. Looks like we ran out of weak sellers on Dutch Lady.

I expect lackluster trading in the afternoon. As expected, trading was range-bound except for Genting and a few high-fliers. The Composite index climbed up 10.02 points with more gainers and losers.

The market is generally on terra firma most of the day. We may have a good trading day tomorrow if more players return to the market

Quote of the Day:

“A genius is one who shoots at something no one else can see - and hits it.” Unknown

Heartsong