EOD Update (3 May 2006)

Market getting increasingly difficult to read. Not clear what stocks are in favour now, although today was clearly plantation counters. Tomorrow could be something else. Personally, I'm not sure about the net impact on plantation companies of rising CPO prices vs. the appreciating RM, so will sit this out.

One thing though, the stocks of pipe makers and companies involved in the water industry seem to be showing some signs of life, led by JAKS of course. Stocks like ENGTEX, YLI, HIAPTEK and to a lesser extent ROHAS and BREM seem to be acting quirky. YLI has slowly and quietly (so slow that I only just noticed myself) edged up since I first bought at 2.14 a month ago. It even hit 2.45 a few days ago, but on very light volume. Think it'll be worthwhile to keep an eye on these stocks for the moment...

KNM closed 15c up today at a new high of 5.50 ... MAEMODE seemed to be starting a big move for a moment, moving up to 1.18 but faltered and closed only 1c up for the day at 1.12 ... same thing with OILCORP, big move up, then a slow drift down to close only 1c up for the day. JAKS also seems to be following this daily pattern. When this happens, you can never be sure whether it's accumulation or distribution, but my bet for now is that it's accumulation.

JOTECH underwent a dip in afternoon trade, took the opportunity (I think) to increase position a bit more. After that, it recovered slightly, but still closed down 2c for the day at 1.15, significantly below today's high of 1.22.

Latest purchase:

JOTECH: +3,000 (1.11) ... Total 18,000


/ichithekiller