Thursday, 29 September 2022

Bursa Down, Shot Selling at Sapura Energy, Oil Palm Must Carry Malaysia To Safety : Sign O The Times.

was the maiden hit for Prince after his break up with the Revolution, way back in 1987. The single is taken from the album Sign Of The Times, following the massive blockbuster Purple Rain.

BURSA Malaysia is struggling at a 52 week low at 1397.130 points while the Ringgit is howevering at RM4.64 to the US Dollar. 

AS at 11.30 am today only 171 counters are up while more than 1000 securities are either down,. Unchanged or Untraded.

Oh why, oh why?
Sign o' the times, 
Sign o' the times mess with your.....

LOOKING at yesterday's data provided by Bursa Malaysia, the sign of the times definitely looking gloomy, with only one hero in sight 

THERE is a clear short selling position built up on oil and gas counters and also on rubber glover exporters,.as well as telco's such as Maxis with a net short position of 65 million shares, Hartalega with 51 million shares, Top Glove 120 million shares and Sapura Energy some 51.5 million shares.  You can view the entire list HERE.

OBVIOUSLY,. the big market players are discounting the weak ringgit as a boon for exporters and the signal is clear, Malaysia will once again have to bank on the Oil Palm Sector to deliver big time to save us from this mess.