Dow added another 69 points (+0.4%) to close Thursday session at 17,554 for another record high two days in a row. Dow has reached its short term upper trend-line. It may take a pause to form its sub-wave ii before breaking the short-term upper resistance.
It is also possible that it may choose to continue its current run for a break through before taking a rest.
FBMKLCI (1,831)
KLCI is currently forming the mini wave 2 of its wave d of major wave 4.
It is likely to complete its wave d with a new record by early 2015. Hopefully it can last until 19th February, 2015 for a happy and prosperous Chinese New Years.
Berjaya Corporation Bhd (Rm 0.48)
If BJ Corp has ended its down-trend that started in April 2010 and is on its new bull cycle now, the possible low for the current minor wave ii is 47 sens for a 100% retracement.
KSL Holdings Bhd (Rm 4.57)
KSL is forming the minor wave ii of its sub-wave v at this moment.
However if it chooses to drop further, then this will be a higher degree mini-wave (ii) correction.
But nothing to worry lah if the company is going to announce another 20 sens of earning per share for its 3rd Quarter and the EGM is going to approve the 1 for 1 bonus issue and the Dividend Reinvestment Plan (DRP) by 28th November. Logically the next run-up has to go beyond Rm 5.00.
It is also good to remember - ' The time to worry is when everybody is not worry'
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