Wednesday, 29th May 2013 | The junior market index jumped 4.33 percent today, the most by any of the indices as most of the market focus was on these stocks. With the exception of cross traded index and the US dollar indices, where no price action took place, all other indices moved up on a day of light trading.

The junior market index closed up 31 points and closed at 747.64, not very far from the important 800 level where resistance comes into play. The all Jamaica index closed up 188.48 points to close the day at 87,949.82 on a day when market activity was low and only $8,804,947 worth of stocks traded.

52 weeks High | Six stocks traded at new 52 weeks high during the day with 3 ending up closing at 52 weeks high. Lasco Financial traded as high as $10 but closed at $9.50 which remains the highest closing price. The same went for Jamaican Teas that traded at $4.60 during the day but closed back at the 52 weeks high previously attained this month at $4.40.

Lasco Distributors closed at $15 while gaining $1.30 for the day and Manufacturing put on $1 and closed at $14, Grace Kennedy closed at $60.25 but traded as high as $62 failing to record a new 52 weeks high at the close. Kingston Wharves closed at $7.50 the highest price attained in the last 12 months while gaining 48 cents.

Tuesday, 29th May 2013 | The market was dominated by Scotia Group with 2.265 million shares trading for value of $49.4 million in a market that traded $59.6 million for the day. The bulk of the trades in this stock were crosses done by Scotia Investments on behalf of clients. The stock jumped $1.24 on the day to close at $21.80. The gain in Scotia, plus a 40 cent increase in Sagicor Life which closed at $8.50, were the main contributors to the 1,452 points rise in the all Jamaica Index which closed above 87,000 points for the first time since February 6^th and it now sits just below January 25^th close of 87,888.49 on a day when advancing stocks again out paced declining stocks 3 to 1 with 12 stocks climbing versus 4 that fell.

Technically speaking | The junior market is heading to the 800 points level before it meets resistance and closed today at 716.63, so the target may not be that far away. The main market has broken the 85,000 mark decisively and today broke a minor resistance level created this year when the market slipped with the NDX and tax announcements. It now looks as if the market’s next serious resistance level is around 130,000 points. Using the all Jamaica Composite index, even if the market moved at the level it did today, it would take until mid-July to reach it.

The challenges the main market faces is that it requires the big companies to fully participate in any major rally to meet such a target within the time frame. So far, two of the big ones, National Commercial Bank (NCB) and Scotia Group, have not made any great moves to lend confidence that they are about to contribute in any major rally. Based on where money market interest rates are and the low level of stock valuation, this level may only be a temporary stop — if it becomes one at all. An indicator of the near-term future of the market can be measured by the advance decline ratio, as well as the number of stocks closing either  bids higher or offers lower than the last sale price. At the end of Tuesday’s trade it was 8 to 1 a positive for continued advances.

Other price movers | Other stocks to post worthwhile moves include Carreras up $2 on Mondays last traded price with the stock closing at $60 with 16,246 units trading between $58 and $60. Jamaica Broilers gained 30 cents to close at $4.90 while trading 86,706 units. All three Lasco companies posted gains in continued response to the 10 for 1 stock split. Distributors gained $1.69 to close at $13.70 with 83,079 shares trading, Financial Services traded only 7,500 units to close $1.20 higher at $9.50 and Manufacturing was up 94 cents on just 5,000 units to close at $13. NCB shed 21 cents, closing at $18.80 as 19,134 units traded. Scotia Investments gained 50 cents with only 1,000 shares changing hands.

Monday, 27th May 2013 | Interest picked up in all three Lasco stocks in response to the proposed 10 for 1 stock split the company announced on Friday after trading.

Lasco Financial traded at $9 shortly after trading started, an all-time high but closed up to $8.30 with 23,836 units traded, still closing at an all-time closing high, nevertheless. Distributors was up $1.51 with 9,748 shares trading at a closing price of $12.01. Manufacturing closed at $12.06 down 44 cents with 5,000 units changing hands. At the close, the bid was for 25,000 units at $12.10 with 43,116 units offered at $16.50.

Carreras dropped $2 to close at $58 as 117,870 units changed ands today. The stock traded as high as $61. Grace continued to move higher with a 29 cents gain, closing at $60.50, NCB closed down $0.99 to $19.01, Scotia Group closed at $20.56 up 9 cents as 85,353 shares traded after the company released better than expected results on Friday after trading had closed. JMMB gained 19 cents to close at $7.99 with 17,000 shares traded.

Trading was moderate with only $12,352,416 being spent on stocks on a day when only the junior market index registered a gain. The advance decline ratio continues to be very positive with 10 stocks advancing to 5 declining.

At the close of trading, there were 10 stocks with bids above the last selling price while there was 1 with the offer below the last selling price.

Friday, 24th May 2013  | Gains from National Commercial Bank up $1.16, Carreras up $1, Pan Jamaican Investment Trust up 99 cents and JMMB up 30 cents were strong enough to overcome the $1.54 decline in Jamaica Producers, 33 cents fall in the price of Sagicor Life and $1.13 in Scotia Group to help the main indices post positive gains on Friday.

Junior market | The junior market saw AMG Packaging climbing 50 cents to $4.50 a new 52 weeks high with 58,512 shares trading, Cargo Handlers picked up 17 cents in trading 10,000 units. Lasco Distributor gained 29 cents. The stock traded only traded 3,080 shares but the bid closed above the last selling price with 55,344 units on the bid, at the end of trading. Lasco Financial traded at an all time high of $8.25 up 14 cents on the day. New junior market listed Caribbean Creams traded 650,473 units to close at $1.09 having traded as high as $1.12 on the day. Grace was one of three stocks that traded at 52 weeks high.

Level of trade | Investors poured $20 million into 19 stocks with 1.6 million units changing hands, on a day when advancing stocks again outnumbered declining ones 9 to 6. All of the market’s indices continue to move up on Friday with the exception of the index for cross listed stocks and the US dollar index. In both cases, no stocks were traded.

Indices gain | The all Jamaica composite gained 2,023 points for the week or just over twice the gains of the prior week closing at 86,596.66 points. The junior market gained 15 points less than the 24 points picked up in the previous week, to close at 667.61 points.

Bids above last price | 9 stocks closed with bids that were higher than the last traded price and none closed with offers that were less than the last traded price, an indication that price gains are likely to continue into the coming week.

Stocks to watch | Stocks to watch this coming week include Scotia Group that reported better 6 months results than last year’s half year profit. Others to watch are Grace Kennedy, Blue Power, Lasco Financial, Desnoes & Geddes and JMMB and Sagicor Life.