Where are the outperformers and the underperformers?

I have appended below 4 daily charts. The components of the first 2 charts are from the Main Board. They are:

1. FBMScap which comprises those eligible companies within the top 98% of the Bursa Malaysia Main Board excluding constituents of the FBM100 Index; and
   
2. FBM100 which comprises the constituents of the FBM Large 30 and the FBM Mid 70 Index.

FBM100 saw a 31%-recovery from a low of 7646 to 8407 as at May 13 [its January high was 10077], while FBMScap recovered 41% from its low of 9364 to 10713 [its January high was 12681].


Chart 1: FBM100 daily chart as at May 13, 2008 (source: Quickcharts)



Chart 2: FBMScap daily chart as at May 13, 2008 (source: Quickcharts)

Now, let's look at the next 2 charts- the FBM-MDQ & FBM2brd. They are:

1. FBM2brd comprises all eligible companies listed on the Second Board. No liquidity screening is applied; and
   
2. FBM-MDQ comprises all eligible companies listed on the MESDAQ Market. No liquidity screening is applied.

We can see clearly that these 2 indices are not moving up after their initial rebound off the March low.


Chart 3: FBM-MDQ daily chart as at May 13, 2008 (source: Quickcharts)



Chart 4: FBM2rd daily chart as at May 13, 2008 (source: Quickcharts)

If the market continued to inch up, shares in the 2rd Board & the Mesdaq Board might enjoy some recovery, especially when the retailers re-enter the market. You may want to use such rally to reduce your position in these boards.