Traders position for dovish FOMC

THE Straits Times Index on Monday drifted within a narrow band before a late afternoon push took it up 24.69 points to 2,852.14, ahead of this week's US Federal Open Market Committee (FOMC) meeting. The bounce came after an 80-point jump in the Dow futures and after Europe opened in the black.

The real action though, was in penny stocks led by fund managers ISR Capital (the former Asiasons WFG Financial). ISR's stunning S$0.108 or 71 per cent rocket up to S$0.26 on volume of 88.8 million appeared to sp…