The local market for the past week and a half was tired. You can see it in the prices and the volume. After a torrid run following CNY, the market really needed a breather to recollect. Thankfully, nothing really tanked. In fact, if you examine last Friday's market, there are reasons to be optimistic.
Probably an effort by certain powers to be, the volume picked up in selected GLC lined, government projects linked counters. Could this be a tell tale sign that we are switching from penny stocks? We have KHSB with 76m shares traded, Tebrau with nearly 30m ... Puncak Niaga and DRB look to be joining in the party as well. The others trying to ride the wave include Jaks, UEM Land, KUB and Dialog.
Amidst the torrid run up, the designation of Harvest, the ooops! at Silverbird, really did not do much to wobble the market. This would indicate that the market is still not over with this run up. Pick your trading targets people.