Wanton Wallops and Favourable Upticks

If you pursue equities, this is one trying time. Wall Street got a kick in the butt, European markets are down on their knees and the East is Red.

Red Tide Bursa KL

Bursa KL succumbed by close to 15 points  and most of the counters have turned into crimson tides.

KLK led the pack southwards when they displayed their latest but dismal output of rubber and oil palm outputs. The counter sunk 70 sen to RM22.30, followed by Nestle, BAT, Petronas Dagang and Genting.

If KLK is the market mover for palm oil and rubber, expect other likewise counters to turn in similar type results. Time to buy?

Digi lost a sen to RM3.61 after going below RM3.60 at one point.

Air Asia went down 11 sen to RM3.66 after Tony's perceived wrong signals of leaving the low-cost airline.

However, the red tide did turn favourably for some counters.

Digi bucked the trend to close up 7 sen at RM3.69 while GAB tacked on 18 sen for a second all-time high of RM12.00 after touching RM12.04.

Digi: Bucking the trend to add 9 sen to RM3.69

Anyway, have a good weekend.