Genting-The Real Engine of the Bursa?

On hindsight, many can see the folly of their action. Vision 2020 is attained on hindsight on the Bursa as well. Since that tragic Tuesday meltdown on February 26, we have seen yoyo action with a deep dip on March 14.

Performance-wise, the trend is going north in spite of Tokyo,Shanghai and that silly mortgage non-issue in USA. Talk about the positive effects of transparency, best practices, globalization and computer-aided forecasting methods, we still have gross human stupidity on the world market. A little hiccup and these so-called intelligent long-term; dividend-focused fund managers scurry gutless with their tails in between their legs. What happened to the gems of wisdom from Sun Tzu's Art of War? Silly chicken shit fund-managers ! So what is new?

In Malaysia, by lunch break today we have returned to the 1200 level on the composite index. The exact figure is 1203.51, up 11.29 points from yesterday. We need just another 80 points to be the come-back kid.

So what has been happening on the Bursa lately? The obvious thing is that the market is going up and down because of Genting. When Genting goes up, the market follows through. When Genting is sold down, the others caught diarrhea. As of today, most blue chips have yet to recover their full value before the Chinese New Year. Maybank is about 50 sen short and Bursa is short of RM1.80. Second liners have moved up cautiously but yet to recover 15 to 30 sen.

One interesting stock to watch is Berjaya-Sport Toto. It has recovered to its fair Chinese New Year level. Strangely it is one popular stock which has not really ‘moved’ since mid-November 2006. One of the best dividend paying counters at below RM5.00; it is a steal!

So let us see whether Genting will maintain its RM1.25 gain in the afternoon. This is crucial because if it retreats, the giddy goat market will do likewise.

So fund-managers, wise up' be anak jantan and gnaw further on Genting some more and move the market up.

The market ended up 13.06 points . Genting gripped on to its RM1.25 sen gain. Syabas, fund managers. Good show! Bursa tacked on 40 sen and Maybank held on to its 10 sen gain too. There were more gainers than losers. I believe, the market has built a strong base. Return is slow but the claw -back has begun....

Quote of the Day:

‘Men in general judge more from appearances than from reality. All men have eyes, but few have the gift of penetration.’ Machiavelli

Heartsong