The Stock Market Tumbles!The theme of Jaws can be heard audibly. The Composite Index slumped 37 points but recovered at the day's close to lose 22 points. Will it go down further tomorrow because most markets in Asia succumbed to selling pressure today as well.
The likelihood is it will because tomorrow is Friday and smart investors do not want to buy shares on this day. Fund managers have been selling Bursa and Maybank stocks making them to fall heavily.
Gentings, Resorts and KPS also went into free-fall along with the other heavy weights like PPBOil and IOICorp.
This will be good time top ick up stocks which have fall to their fair value. Watch out especially for KPS and RCE Capital.
KPS below RM1.20 and RCE below 65 sen would be excellent buys.
Quote of the Day:
Heartsong
The likelihood is it will because tomorrow is Friday and smart investors do not want to buy shares on this day. Fund managers have been selling Bursa and Maybank stocks making them to fall heavily.
Gentings, Resorts and KPS also went into free-fall along with the other heavy weights like PPBOil and IOICorp.
This will be good time top ick up stocks which have fall to their fair value. Watch out especially for KPS and RCE Capital.
KPS below RM1.20 and RCE below 65 sen would be excellent buys.
Quote of the Day:
Heartsong
