Bursa Malaysia

Courtesy of allstarcharts.com

Nouriel Roubini, "Short-term bullish, long-term catastrophic." 

The bear has to wait for a while before the bull completes its final acts.

Similarly the Malaysian market is expected to move in tandem with the US and other Asian markets before the bubble bursts. 

FBMKLCI is expected to set new highs in its run to complete its wave 3, 4 and 5 of its major wave (5). 

The next question is which sector ?

Roubini advices investors to enjoy the short-term run while it lasts and he said, “In the short term, it's great for assets.”

When all the central banks are printing money to resolve the debt and deficit problems, the excess money is going to inflate stocks, properties and commodities.

 

In March, when everybody is focusing on the 13th GE, the property index managed to break out of its 10-year channel with the help from stocks such as Crescendo (1.78 to 2.98), Daiman (1.80 to 2.51), Guoco(0.83 to 1.27), KSL(1.60 to 2.16), Sunway(2.50 to 3.36), Tebrau( 0.90 to 1.43), UEM Land(2.30 to 3.17) ............... and others

Some Interesting Charts

Malton (56 sen)

Double bottom reversal pattern. Strong OBV (accumulation). First 2 quarters earning is 4.24 sen a share with net assets per share at Rm1.45. It has been resting on its neckline for 2 years. It put on 2.5 sen today with high volume. Is it ready to move? Minimum target is Rm1.30.

Perak Corp (Rm1.68)

A potential double bottom pattern, can be confirmed with a breakout above the neckline. It is possible that it is forming its wave (iii) of its major wave 3. 

Its 2012 earning for year ending 31/12/2012 is 38.1 sen per share with net assets per share of Rm4.68. Its last two quarters earnings are very impressive with 12.58 sen and 15.39 sen per share respectively. It is going to announce its 2013 first quarter earning before end of May. If it is another 15 sen per share, it may be able to break its neckline and can continue with its (iii) of 3's run.

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