EOD Update (28 July 2006)

CPO futures (October delivery) price spiked up to hit a high of 1,630 today (up $56!), on relatively high volume (Close 1,620 ... up $46). Decided to make a bet by increasing my positions in some plantation counters, the rationale being that if CPO prices remain on a strong uptrend, plantation companies will get a bonus without even needing to raise their production or yields.

So far, the market response to plantation stocks seems to be muted, which is surprising to me, although ASIATIC did manage to close 4 sen up despite being down 4 sen earlier in the day. Maybe there's another aspect which I don't know... or it could be because plantation stocks have already gone up so much recently.

Latest purchases:

EKSONS: +2,000 (0.90) ... Total 5,000

LKT: +1,000 (3.22) ... Total 3,000

ASIATIC: +3,000 (3.48) ... Total 5,500

KULIM-WB: +5,000 (1.66) ... Total 9,000

RSAWIT: +2,000 (1.38) ... Total 5,000


/ichithekiller