Courting Black Harvest

For those dabblers of Harvest Court, it must have been one rude awakening when they saw their shares plunge like a bungee jumper without going up. It always is dangerous to court the unknown penny stocks especially in wild-wild east Bursar!

True, the PM's son lent credence to the company after he has bought its shares and then sits regally on the Board. But that's no reason for you to jump head long into this potential quagmire of a counter?

Sadly, as we see, the Bursa failed to do its job to timely query the company on why there was such a huge percentage jump in its price in a short spate of time or the reason for the flurry trade. It allowed so much leeway for punters and mercenary buyers to sucker a wide slew of  innocent babes of investors. From 10 sen it jumped to price stratosphere beyond RM2.00.

Once the punters leave, the PM's son also quited his Board seat and now all those poor  blighters or sorry shareholders are left with Harvest Court shares hanging high and dry.

The price of Harvest Court is now 74 sen, down by another 22 sen. It touched a low of 66.5 sen.

As they say, winners guffaw and losers weep.

I can hear the din of the cries of the loser-weepers but sadly, not Bursar.

Digi: Digestible Demand?

Holding Steady in Morning Trading

Oh yes, it got to a flying start and then ran out of steam by 10 am. Heavy buying was seen from RM3.82 to RM3.86 before retail buyers came out in squads to pare down prices into the 70's region.

Today is Day 3 after Digi went split and prices look like it it holding up. It was up Monday and yesterday and it should hold up with marginal gains if market continue to deteriorate on the whole.

As they say, the market is always right.

Amidst heavy selling pressure, Digi managed to close unchanged at RM3.72. There was quite heavy buying at RM3.72; something like more than 8.2 million shares done.

Close Unchanged at RM3.72 in a bad market