Dow set 4 consecutive new record highs from Monday to Friday. Dow is either forming the wave b of its wave (xiv),
Or it is forming the mini wave 1 of sub-wave iii of wave (xiii).
FBMKLCI ( 1,764)
From its previous week's low of 1,673, KLCI managed to move higher for 7 consecutive trading sessions and gained a cumulative 91 points (+5.4%) along the way.
Hopefully this is the starting of its major wave 5 and hopefully it can last for at least 2 years.
KSL Holdings Bhd (Rm 1.85)
If KLCI is forming its major wave 5, it is possible that KSL has started its wave (v). The next up could be the mini wave 3 of its wave (v).
FACB Industries Incorporated Bhd (Rm 1.03)
Facb is one of those greatly undervalued stocks. With Rm 151 million of cash in hand and zero borrowing, it cash per share is Rm 1.80 (Facb has only 84 millions share). It is also holding 339 millions share of Karambunai.
For its quarter ending September 2014, its earning per share is 0.49 sen and its net assets per share is Rm2.51. Even without taking into consideration its factories buildings, lands and its existing business of Stainless Steel Fittings and Bedding ( Dreamland), Facb looks cheap at Rm 1.03.
There are two possible wave-counts for Facb. If it continues to move higher from its current level, it is either forming the wave 3 of its major wave (3).
Or it is forming the wave B of its major wave (4).
Under this scenario, its wave C of (4) may bring its price to 70 or 80 sens level. On 15th December it dropped to as low as 96 sens. To go to 70 or 80 sens is possible even though its cash backing per share is Rm 1.80.
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