The Neckline

The bears are in control today in line with the poor performance of the other Asian markets.The Bursa index closed @ 1366.99 (-10.14)This is the pivot point of the month.It has found its neckline of the low @1363.0 in tandem with the high on 15/06/07(Friday) and the low on 18/06/07(Monday)So we'll be above stormy waters in the days to come.

The MDEX index futures did not manage to cover the gap between 1351.0 (15/06/07-Friday) and 1362.0(18/06/07-Monday)Henceforth the northpole is going to be the next destination!

On the stock front,Property stock EQUINE was hammered down with a lost of 0.68 cents.The counter open @RM4.90(also the high) RM4.28(low) RM4.32(Closing) Volume:68,016 lots.
The reason might be Singapore Stock Exchange property stocks were the biggest losers today which affected it since it has a foreign investor:Lion Capital Management Ltd.One George Street#08-01 Singapore 049145. who holds 15,086,800 shares.

You'll be surprise this hedge funds will short cover again giving it a meteoric rise.It has been the darling of the property counter lately.