Monday, February 05, 2007

Market Commentary

The KLCI gapped up today to close at 1,225.73 with some 1.689 billion shares traded. It put on another 16.25 points.

There is nothing to crow about in the second, third or mesdaq counters except for YTLE which had a fantastic run-up. It opened at 24.5c. I had expected it to pull back to 23c for a good opportunity to buy. It did pull back, but only up to 24c from where it went straight up to 37c before closing at 35c for a gain of 10.5c.

The company is going into providing broadband and other value added services through its associate company Bizsurf which is one of the seventeen licensed service providers that have applied for and are being considered for the 2.3GHz spectrum band for WiMAX deployment.

The velocity of its price improvement will attract profit-taking. But, for the present, there appear to be more goodies on the card.

Writer disclaims all liability for his comments.