Monday, 1st July 2013 | While the junior market index continues to advance towards the all-time high of 811 points, the main market indices fell moderately as investors try to find acceptable prices to execute trades.

Based on the recent rise in the prices of many stocks, it’s hard to see how this stalemate will change in the short term without new information to entice investors to view stocks as attractive to acquire now, rather than later. Although the majority of the indices fell today, the advance decline ratio was just able to remain positive as 8 stocks gained to 7 that declined. Trading levels of 4.7 million shares was half of Friday’s, but even less was expended as only $38 million traded compared to $116.17 million invested on Friday. Three stocks closed with the last selling price reaching an all-time record. These are Blue Power at $11, Lasco Distributors at $16 and Lasco manufacturing at $16.

Carreras shares gained 27 cents to $52 as just 9,096 units valued at $482,000 traded, JMMB closed up 50 cents as Scotia Investment bought the bulk of the 1,093 million units that traded, with the stock closing at $8.50. Active offers for JMMB is now at $9.25 an indication that the supply at recent market prices is drying up, but investors may well sell below this price as there is a big gap between bids of $7.72 and offers prices.  Sagicor Life traded 248,000 units valued at $2 million as the price slipped back by 18 cents. Scotia Group traded 176,000 units, valued at $3.7 million and lost 31 cents in the process.

The supply of Cable & Wireless share on offer at 15 cents fell below the 30 million mark at the end of trading as the amount offered is now at 29.88 million units. RJR has a bid of $1.23 to buy 4.79 million shares as this stock has had a fair volume of trading recently.

Junior market | Eight junior market stocks traded as Lasco Financial, continuing to respond to the 10 to 1 stock split, closed at $12.70 down 30 cents on Friday’s last traded price with 101,185 shares trading between $12.60 and $13. Lasco Manufacturing also responding to the announced stock split, traded over 736,000 shares, closing at $16 up by 40 cents with $11.66 million invested, while Lasco Distributors closed at $16 after trading at a record high of $16.50 with only 206,408 units valued at $3.37 million trading. Caribbean Cream traded down 15 cents to close at $1.05 with 350,000 units changing hands. Blue Power closed at $11 up $1 on the last selling price with 38,000 units but the offer was for 303,000 units at $10.50 at the end of trading. AMG packaging traded 27,800 shares at $4.20.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 3 stocks were higher with 1 stock having an offer lower than the last selling price.

Friday, 28th June 2013 | The junior market index was the only one to advance today surpassing the 800 point level for the first time since November 11, 2011 and is now within a stone throw from the all-time high of 811 points. Although the majority of the indices fell today the advance decline ratio was once again positive with 7 stocks moving up in price whilst 3 declined. Trading levels picked up as 8.19 million shares changed hands with a value of $116.17 million.

There was heavy trading in Carreras shares which fell 77 cents to $52 as 1.146 million units valued at $60.7 million traded, Sagicor Life traded 1.456 million units valued at $12.45 million, Scotia Group traded 563,000 units valued at $11.9 million, and Seprod traded 285,000 units at $4.14 million. Cable & Wireless, which has more than 30 million shares on offer at 15 cents, traded 650,000 units 15 cents each. Jamaica Producers gained 45 cents to close at $18.50 with nearly 25,000 shares trading, Sagicor Investments gained 49 cents but hardly any shares traded.

Proven Preference shares traded 1.7 million units at a value of $8.7 million.

Junior market | Nine junior market stocks traded, as Lasco Financial closed at an all-time high of $13 gaining a $1 in the process, having traded 162,300 share between $11 and $13. Lasco Manufacturing traded over 300,000 shares closing at $15.60 while Lasco Distributors closed at $15.90 with only 73,600 units trading. Consolidated Bakeries moved back to $1.60 at the close while trading 847,000 shares. AMG packaging which had put on 20 cents yesterday while trading a very small amount, closed at $4.20 today with 55,613 shares changing hands and lost 50 cents.

The junior market is in the golden cross which indicates that further big increases are ahead.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 1 stock was higher with 2 stocks that had offers lower than their last selling price.

Thursday, 27th June 2013 | Trading picked up today as the amount spent on stocks increased to more than $42.8 million as 4.66 million shares changed hands with 27 stocks trading resulting in 11 being up while 6 declined in price. Two new all-time closing highs were reached on the day, a third stock closed at its 52 weeks high and Lasco Financial Services closed at $12 for an all-time closing high. All indices that had stocks that traded declined marginally at the close.

Junior market | Much interest continued in the three Lasco companies as all three traded more than 500,000 units each. Lasco Distributors traded 1,090,159 units at a value of $16.978 million and Lasco Financial Services traded 518,000 at a cost of $5.73 million as the stock closed up 20 cents at $12. Lasco Manufacturing, closed off 20 cents at $15.60 with 531,000 units trading. General Accident traded 467,000 units at $2.04 accounting for $952,000, Access traded 8,988 units at new high of $8.25 while Blue Power had trading in 500,000 units, costing $5 million as the stock retreated 50 cents on the day to close at $10.

Trading took place in the stocks of 9 junior companies. All three Lasco companies approved a 10 for 1 stock split at an extra ordinary general meeting on Wednesday. The record date for the Lasco splits is July 9, 2013 and the ex-date is July 5, 2013.

Main Market | Prices generally recovered from declines earlier in the week even as the indices slipped marginally. While Berger slipped 15 cents to close at $2.30 with 19,000 shares crossing the exchange, Carreras regained $1 off of the amount which was lost yesterday recovering from the initial reaction to the proposed ban on the smoking of cigarettes in public, the stock closed at $53.50, on very small volume. Pan Jamaican gained $2.08 while trading under 3,000 units to close at $52.60, the same level as the bid. Scotia Investments put on $1 to close at $27.50 but only 1,000 units traded. The bid on the stock on Trinidad exchange is at the equivalent of J$28 and it could trade higher as there is little supply in the market currently.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 3 stocks were higher with 3 stocks that had offers lower than their last selling price.

Wednesday, 26 June 2013 | While in yesterday’s stock market trading, declining stocks were more than advancing ones with 11 stocks declining and 8 gaining in price, today’s trading not only reversed the negative trend but clobbered declining stocks 16 to 6 with three stocks closing at new 52 weeks high.

The junior market index inched up marginally, to close at 796.02 up 7.19 points. The all Jamaica index declined by 229.71 points to close at 88,512.59 and the main market slipped 127.93 points to 87,135.91 at the close. The fall in Carreras stock which fell $3.50 to $52.50 and Jamaica Producers which shed $2.65 to close at $18.05 would have been the two main contributors to the decline. Carreras was reacting to the news on a ban on cigarette smoking in public, effective July.

The number of shares traded increased over that of yesterday’s volume of 5.8 million units with a value of $58.9 million. In today’s trading 7.6 million shares traded, but for a lessor amount of $36.7 million as Cable & Wireless which pulled in only $524, 000 accounted for more than 3.78 million of the volume that went through the market.

Junior market | Eight stocks traded in the junior market with 7 increasing in price. Dolphin Cove closed up 20 cents at a 52 weeks high of $8.65 with 6,200 shares. Lasco Manufacturing traded 135,128 shares between $15.50 and $16 but closed at $15.80 up 25 cents. Lasco Distributors traded 823,740 shares while gaining 22 cents to close at $15.77. Lasco Financial Services closed at an all-time closing high after the stock traded at $11.80 up 25 cents while trading 152,327 units. The stock traded as high as $12.50 during the day.

Main Market | Although the overall market enjoyed nearly $36.7 million of trading, $17 million came from the junior market with the two large Lasco companies continuing to be dominant in the market. Carreras was the big loser today and for the week to date, as investors shed 31,000 shares at prices that were all lower than yesterday’s close. Jamaica Producers shed $2.65 but with only 3,200 shares trading. Companies that had noticeable price action included Carreras which lost $1.40 to close at $56.50, Desnoes & Geddes gained back the 20 cents it lost yesterday to close at $5 with small volume trading. Grace also traded a small volume but the stock closed at $60, up 40 cents. Sagicor Life dropped 40 cents, closing at $8.40 with 11,157 units trading. Scotia Group traded 373,951 shares with the stock closing at $21.20 the same as yesterday.

IC bid-offer Indicator | At the end of trading, the IC bid-offer sentiment indicator shows that bids for 3 stocks were higher, with 2 stocks that had an offer that was lower than their last selling price — not a very bullish sign at this time.