Dow - Is Dow pulling away?

Dow (28,051)

As Dow is pulling away from its upper trend-line, probability is getting higher that Dow is forming its major wave 9.

Hopefully the next pullback can hold above the upper trend-line then I can forget about the A-B-C-D-E major wave 8 option.

Pinehill Pacific Bhd (PN17) (Rm0.47)

Pinepac announced earning of 71.66 sens a share with net assets at Rm1.49 a share due to its one-off gain from its disposal of 8,999.13 acres of land for Rm413.574 millions.

Under its current assets, it has cash of Rm185.611 million

Under its liability table, amount payable and borrowing added up to Rm70.155 million.

Its net cash position is Rm115.456 million, that is about 77 sens a share. Besides its cash, Pinepac still has 51,000 acres of land in Indonesia with 21,000 acres of mature oil palm. At today's closing price of 47 sens, it is greatly undervalued.

Pinepac is forming its major wave 3 at this moment.

From its 6-month chart Pinepac is at its sub-wave vii.

Fintec Global Bhd (Rm0.055)

Fintec as expected announced earning of 13.64 sens a share with net assets at 38 sens a share. Its stock price went to a high of 9.5 sens on Tuesday but closed at only 5.5 sens today. Pinepac continues to lose money on its business operation. The good earning came from the fair value gained of its investment holdings.

The rebound to 9.5 sens completed the wave (iv) of its wave C of (2). The current wave (v) may see Fintec to retest its historical low of 4 sens one more time before starting its mega wave (3).

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