Tuesday, March 16, 2010

Holland - To visit Keukenhof Gardens

Before talking about Holland, lets see the possible direction for Dow in the next few weeks. As long as Dow does not have a correction exceeding 3% and it stays above the lower resistance line, then it is wave (V) for Dow as shown below.

Since Nasdaq has already taken the lead in breaking its previous January high, Dow should set its new high pretty soon. Assuming wave (V) can last 3 months, same period as wave (I), wave (V) is likely to end on the 2nd week of May.

If Dow is forming its wave (V), world bourses should be OK and should move within an up-trend channel. Bursa Malaysia should behave in a similar pattern.

In wave (V), fundamentally strong counters should out perform speculative stocks. The followings are my favorite stocks at this moment besides Inch Kenneth, GPacket, IRCB and Rubberex. My dark horse is Mtouche, watch out for its price movement after the listing of its right issue shares and warrants next week

I will be flying to Amsterdam with my family tomorrow to begin my 2 weeks break from all my works. I may not blog until my return from Holland on April 2. Sorry my friends, no more talking on stocks for the next two weeks.

To tour Holland in Spring without visiting Keukenhof Gardens is considered incomplete. I have already bought my entrance ticket online, you can say Kia Su, but I just want to be sure I have my ticket to Keukenhof.

WOW soooo Beautiful

Monday, March 15, 2010

Dow - OVB Breakout

Granville and many others have always maintained that Volume Leads Price, if this is true Dow will have to break its previous high of 10725 sooner or later.

As long as Dow can stay within the up trend channel, it is on course to form its wave (V). Any correction should not exceed 3%.

If Dow is forming wave (V), Bursa Malaysia industrial Index will continue to complete its wave (V) as shown above.

Inch Kenneth is in a similar situation.

HPI is going to lead the market in completing its wave 5 of major wave (V). However if Dow's major (V) can last until end of May, HPI may have 9 waves for its wave (V).

Friday, March 12, 2010

The Beauty of Venus de Milo

Venus de Milo (Aphrodite of Milos), is an ancient Greek marble sculpture created between 130 and 100 BC, it is believed to depict Aphrodite, the Greek Goddess of love and beauty.

For decades Venus de Milo has been duly praised by artists and critics as the epitome of graceful female beauty. When I was at the Louvre Museum (Paris) many years ago, I spent quite some time looking at this statue from various angles, the front, the side and the back.

I was disappointed, I couldn't see the beauty that was mentioned by many !!! I thought "May be I have expected too much"

Until yesterday I saw the following photo in Kelly M post

Wow, it is beautiful.

Thursday, March 11, 2010

Dow dropped 33 points after 30 minutes of trading

Dow declined 33 points (-0.3%) to 10534 after 30 minutes of trading on Thursday morning. If Dow is in the direction of forming its major wave (V), it still has 2.5 to 3 months to complete its major wave (V), its short term movement should remains within the two trend-lines as shown below. Any pullback should be short term in nature and should not go below the lower resistance line.

Same as its major wave (I), this major wave (V) is expected to have 5 wave. Based on the above wave count, Dow is currently half-way through its wave 1, but has to bear in mind that this wave count can always change into some other form slowly. But so far, Dow is rather well behaved.

Wednesday, March 10, 2010

Value for Money

Refer to my post on 23rd February for Mitrajaya write-up. Closed at 87 sen today. The company has been aggressively buying back its own shares from the open market.

Refer to my post on 27th February for FIMA Corp write-up, closed at Rm 4.15 today.

Refer to my post on 18th February for HPI write-up, closed at Rm 1.73 today.

Refer to my post on 16th February for Latitude write-up, closed at Rm 2.55 today

LTKM involved in investment holding, provision of management services, operation of a poultry farm for the production and sale of chicken eggs, chickens and organic fertilizers. This stock is usually very thinly traded and slow moving. Holding this stock in an active market can be frustrated. LTKM stock price closed at Rm 1.66 today.

Tuesday, March 9, 2010

Dow - Wave (V) Intact. HPI - Value for Money. PMC - Interesting

Dow, so far so good in its wave (V) up trend

HPI Resources, as mentioned in my February 18 post, is a value for money stock, same as FIMA Corp and Latitude Trees. It closed today trading at Rm1.76. Its half year earning is 23.42 sens and net assets is Rm 2.52.

Another stock that caught my attention today was Pan Malaysia Corporation Bhd. It used to be a quiet stock but it was actively traded today with 5.7 millions share changed hand.

When I referred to its long term chart, it has a fantastic OBV as shown above. Its price is almost at its bottom and yet its OBV is at its peak. Very strong accumulation.

It is possible that 8 sens is its bottom. It has completed its wave (I) & (II) and sub-wave i & ii

Its 2009 earning per share is -0.17 sen and net assets per share is 45 sens. Its total borrowing is Rm 45 millions whereas its cash deposits with banks is Rm 104 millions. A healthy company. In 2009 it has completed its restructuring exercise and has repaid Rm 176.5 millions of its bank borrowing. It appears that the worst can be over for this stock.

Monday, March 8, 2010

Two stocks to watch

Has the major wave (V) started?
Has the Bangi land sale been concluded?

Forming sub-wave iii of B or

Forming sub-wave iii of wave 7 ?? With half year earning at 34.83 sen can hold for longer term.

Saturday, March 6, 2010

Dow - Encouraging performance

Dow put on 122 points (1.17%) to close at 10566 on Friday.

A rough projection for major wave (V) at this moment is a 3 months duration with a targeted price of 12,500, another 2,000 points to go. Has to wait for the completion of wave 1 of (V) for refinement to the projection.

Friday, March 5, 2010

Dow - Duration for wave (V)

As long as any pullback does not exceed 3% and the technical indicators remain on the upper half regions, Dow is on course to complete its wave (V). The next question is the duration for wave (V). Since wave (III) is longer than wave (I), it is likely that wave (III) is the extended wave and wave (V) is likely to have a duration that is similar to wave(I). Since wave (I) has a duration of 3 months, lets assumed that wave (V) can last for 3 months starting from February 8 then it will end on second weeks of May 2010. But based on past experience, wave V can end with a euphoric run, a concave parabolic curve or it can have a premature death, a failure V. Unpredictable is the word.

In general, wave V is the distributing phase for the big fish.

Thursday, March 4, 2010

From my garden