The market was mild today with popular stocks performing unevenly, giving the market as a whole a flat feel. Movements of note; (AMS64%), (HCL-4%), an early rally saw (MAI25%), a late rally for this newcomer up (PFW26%) and (SNE-11%). Quiet until now, (SUN97%)!
- A.M. Sports Best (AMS) jumped to an old high of $L0.23 with some modest volumes. Hanging around this new price obviously sparked a trading frenzy. I would steer clear until the dusts settles.
- Parks Fireworks (PFW) boosted by a late rally ended at $L1.30. Plenty of action around the spread with 50k of shares split in the $L0.27 margin. The movements looked like profit swaps between major shareholders with 20k transfered from Garth Fairchang(4.52%) to Investor Merlin(6.23%) Solid.
- Sarah Nerd Estate Holdings (SNE) With Tyrian Camilo(1.35%) selling off 48k late to some lucky investors, showed what can happen if one of the "Big 5" slip down the shareholder list. Plenty of traders around this bargain.
- Sun Media Consultants (SUN) a consultancy firm with RL connections, is back in the picture with major shareholders going on a buying spree pushing SUN up to almost a long-term high at $L0.5. This takes Bruce Norse' holdings to a whopping 8.17% and climbing...
Recommendations - A last minute splash of 1.2M of Ginko Perpetual Bonds (GPB) hitting a low $L0.06, its lowest for a few weeks leads me to believe the price could still come down. Keep your eye on it:
- (SNE) is definitely a BUY at < $L0.65, watch this one soar on the back of good news from Sarah Nerd
- (HCL) is still a BUY in my books under $L0.60
SW
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